On Tuesday, Shares of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO), gained 6.08% to $1.92.
AVEO Pharmaceuticals, declared the presentation of results from a preclinical study of AV-380, the Company’s potent, humanized inhibitory antibody targeting growth differentiation factor 15 (GDF15), in a cachectic human tumor xenograft model with significantly raised plasma GDF15 levels. The data were presented in a poster titled “Effective treatment of cancer associated cachexia by AV-380, a GDF15 inhibitory antibody” at the 2015 Annual Meeting of the American Association of Cancer Research in Philadelphia from April 18-22.
One of the most lethal and debilitating effects of cancer is the development of cachexia. It affects the majority of advanced cancer patients and is thought to be responsible for about 30% of all cancer deaths. Cachexia is a complex metabolic syndrome associated with malnutrition and severe involuntary weight loss due to the loss of muscle and fat tissue, in addition to the clinical manifestation of anemia, inflammation and suppression of immune functions. Current evidence suggests that a pro-inflammatory state may be responsible for many of the symptoms associated with cachexia. GDF15 is a pro-inflammatory cytokine whose elevated circulating levels are significantly correlated with cachexia in cachectic cancer patients and several animal models of cancer cachexia.
For the study, mice bearing HT-1080 were treated either with AV-380, or a control antibody. The effect on body weight, muscle/fat mass and organ sizes were assessed. Metabolic changes induced by the treatment were measured by a comprehensive laboratory animal monitoring system (CLAMS). Results demonstrated that the inhibition of GDF15 function results in the complete reversion of the phenotypic and metabolic changes associated with cancer-related anorexia-cachexia syndrome, or CACS, completely reverting body weight loss and restoring normal body composition of the tumor bearing mice. AV-380 treatment resulted in a catabolic to anabolic metabolic switch and raised food intake, energy expenditure, resting energy expenditure and physical activity. The data highlight the potential of AV-380 as a therapeutic intervention for the treatment for CACS.
AVEO Pharmaceuticals, Inc., a biopharmaceutical company, develops targeted therapies for patients with cancer and related diseases. Its product candidates under development comprise Tivozanib, an tyrosine kinase inhibitor for various vascular endothelial growth factors; Ficlatuzumab, a hepatocyte growth factor inhibitory antibody, which has accomplished Phase II trial; and AV-203, an anti-ErbB3 monoclonal antibody that has accomplished a Phase I dose escalation study.
Shares of Bristol-Myers Squibb Company (NYSE:BMY), gained 1.44% to $66.81, during its last trading session.
Bristol-Myers Squibb Company, declared positive results from a Phase II trial (CheckMate -069), evaluating the Opdivo (nivolumab)+Yervoy (ipilimumab) regimen as compared to Yervoy alone in patients with formerly untreated advanced melanoma. Patients with BRAF wild-type mutation status treated with the Opdivo+Yervoy regimen practiced a higher objective response rate (ORR) of 61% (n=44/72) – the primary study endpoint – contrast to 11% (n=4/37) for patients administered Yervoy monotherapy (P<0.001). Complete responses were also stated in 22% (n=16) of patients with BRAF wild-type mutation status administered the Opdivo+Yervoy regimen and in no patients who received Yervoy monotherapy. Similar results were also observed in BRAF mutation-positive patients. The safety profile was consistent with formerly-stated studies evaluating the Opdivo+Yervoy regimen and comprised of grade 3-4 colitis (17%), diarrhea (11%), and raised alanine aminotransferase (11%).
These data will be presented recently at the American Association for Cancer Research (AACR) Annual Meeting and featured during a press briefing at 8:30 AM EDT [Abstract #2860]. The results will also be published in The New England Journal of Medicine (NEJM).
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It provides chemically-synthesized drugs or small molecules, and biologics in various therapeutic areas, counting virology comprising human immunodeficiency virus infection (HIV); oncology; neuroscience; immunoscience; and cardiovascular.
At the end of Tuesday’s trade, Shares of Helix Energy Solutions Group, Inc. (NYSE:HLX), gained 5.47% to $16.59.
Helix Energy Solutions Group, stated net income of $19.6 million, or $0.19 per diluted share, for the first quarter of 2015 contrast to net income of $53.7 million, or $0.51 per diluted share, for the same period in 2014 and net income of $8.0 million, or $0.08 per diluted share, in the fourth quarter of 2014.
Business Segment Results
- Well Intervention revenues reduced 15% in the first quarter of 2015 from revenues in the fourth quarter of 2014, primarily due to the Seawell being dry docked for the entire first quarter and weaker than predictable utilization of the Skandi Constructor. In the Gulf of Mexico, vessel utilization was 81% in the first quarter, contrast to 64% in the fourth quarter of 2014. Vessel utilization for the Q4000 and H534 was 91% and 71%, respectively, during the quarter. IRS no. 2, a rental intervention riser system, was on-hire for the entire first quarter of 2015. Vessel utilization in the North Sea for the first quarter of 2015 was 54%, contrast to 69% in the fourth quarter of 2014. The Well Enhancer was fully utilized throughout the first quarter, while the Skandi Constructor was dockside for the majority of the quarter due to low activity levels.
- Robotics revenues were relatively flat in the first quarter of 2015, contrast to the fourth quarter of 2014. ROV and trencher utilization reduced 16% from the fourth quarter of 2014 to the first quarter of 2015, which was partially offset by a 9% raise in vessel utilization over the same period. Spot vessel utilization for the first quarter reduced 35 days (from 61 to 26 days) from the fourth quarter of 2014.
Other Expenses
- Selling, general and administrative expenses were 6.7% of revenue in the first quarter of 2015, 11.1% of revenue in the fourth quarter of 2014 and 8.0% of revenue in the first quarter of 2014. The decrease in SG&A expense primarily reflects a reduction of costs associated with our variable performance-based incentive compensation programs.
- Net interest expense and other raised to $5.2 million in the first quarter of 2015 from $4.0 million in the fourth quarter of 2014. Net interest expense reduced by $0.9 million, while there was a $2.2 million raise in other expense in the first quarter of 2015. Other expense primarily related to ineffectiveness associated with our foreign currency hedges with respect to the Grand Canyon IIIcharter payments.
Helix Energy Solutions Group, Inc., together with its auxiliaries, provides specialty services to the offshore energy industry primarily in the Gulf of Mexico, North Sea, the Asia Pacific, and West Africa regions. The company operates through four segments: Well Intervention, Robotics, Production Facilities, and Subsea Construction.
Finally, Kimberly-Clark Corporation (NYSE:KMB), ended its last trade with 5.39% gain, and closed at $113.15.
Kimberly-Clark Corporation, stated first quarter 2015 results and confirmed its previous guidance for full-year 2015 adjusted earnings per share.
Executive Summary:
- First quarter 2015 net sales of $4.7 billion reduced 4 percent contrast to the year-ago period, as changes in foreign currency exchange rates reduced sales 9 percent. Organic sales rose 5 percent, counting an 11 percent raise in developing and emerging markets.
- Diluted net income per share for the first quarter was $1.27 in 2015 contrast to diluted net income per share from ongoing operations of $1.26 in 2014. Counting earnings from the health care business (suspended operations) that was spun off at the end of October 2014, diluted net income per share was $1.41 for the first quarter of 2014.
- First quarter adjusted earnings per share were $1.42 in 2015 contrast to adjusted earnings per share from ongoing operations of $1.32 in the preceding year. Performance benefited from organic sales growth, cost savings and a lower share count. Comparisons were negatively influenced by unfavorable foreign currency exchange rate effects and a higher adjusted effective tax rate. Adjusted earnings per share in both years exclude certain items described later in this news release.
- The company continues to expect that adjusted earnings per share in 2015 will be between $5.60 and $5.80.
Kimberly-Clark Corporation, together with its auxiliaries, manufactures and markets personal care, consumer tissue, and K-C professional products worldwide. It operates through three segments: Personal Care, Consumer Tissue, and K-C Professional.
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