On Friday, Shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), gained 5.69% to $2.97.
Arena Solutions, declared that its cloud-based medical device PLM solution is being rapidly adopted by the medical device industry. Increasing regulatory requirements are making it more challenging for medical device companies to respond to opportunities and get products to market quickly. With this validated solution, Arena has merged all product records and quality documents into one centralized system, offering visibility, cross-functional team collaboration, and long-term tracking of quality resolutions.
The medical device industry is both highly regulated and highly competitive, forcing companies to constantly innovate to prevent competitors from taking market share with more advanced devices. They must also carefully document all design changes to ensure compliance and avoid having their devices pulled from the market by increasingly complex regulatory bodies. It’s a difficult balance. To achieve it, medical device companies have increasingly turned to Arena PLM.
Arena Solutions also provides its medical device customers with the Arena Validation Maintenance Service (VMS). This is critical for medical device manufacturers since they are required to maintain and demonstrate FDA 21 CFR Part 820 Quality System Regulation compliance on a consistent basis. VMS offers ongoing Arena PLM release validation against predefined intended uses, in addition to the complete documentation of validation activities and results for each Arena PLM release. The process can be so burdensome for customers to complete on their own that many medical device companies delay or forgo upgrades of traditional PLM products simply to avoid expensive validation testing of updated systems. Arena VMS removes the headache of PLM product validation so that Arena customers can always enjoy the latest updates without regulation concerns.
Arena Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes novel drugs that target G protein-coupled receptors. The company offers BELVIQ, a drug used to treat chronic weight administration in adults.
Shares of Nimble Storage Inc (NYSE:NMBL), declined -1.50% to $24.34, during its last trading session.
Nimble Storage, declared its participation, and gold-level sponsorship, of the Flash Memory Summit, taking place August 11-13, 2015 at the Santa Clara Convention Center in Santa Clara, California. At the conference, Nimble Storage (booth #603) will engage attendees in in-depth discussions on the rapidly evolving storage requirement across the enterprise data center. The Flash Memory Summit brings together industry thought leaders to talk about the latest trends and innovations driving the adoption of flash memory across the enterprise data center and consumer applications.
Nimble Storage, Inc. provides flash-optimized storage platforms. The company’s software and storage systems handle various mainstream applications, counting virtual desktops, databases, email, collaboration, and analytics.
Finally, Hersha Hospitality Trust (NYSE:HT), ended its last trade with -0.44% loss, and closed at $24.80.
Hersha Hospitality Trust, declared results for the second quarter ended June 30, 2015.
Second Quarter 2015 Financial Results
Adjusted Funds from Operations (“AFFO”) in second quarter 2015 raised $4.2 million to $38.8 million, contrast to $34.6 million in second quarter 2014. The Company’s weighted average diluted common shares and units of limited partnership interest in Hersha Hospitality Limited Partnership (“OP Units”) outstanding were about 50.9 million as of June 30, 2015, contrast to about 51.8 million as of June 30, 2014. AFFO per diluted common share and OP Unit was $0.76 in second quarter 2015, contrast to $0.67 per diluted common share and OP Unit stated in second quarter 2014. All data presented in this press release gives effect to the 1-for-4 reverse share split about share counts and per share data. An explanation of certain non-GAAP financial measures used in this press release, counting, among others, AFFO and Adjusted EBITDA, in addition to reconciliations of those non-GAAP financial measures, is comprised of at the end of this press release.
Mr. Jay H. Shah, Hersha’s Chief Executive Officer, stated, “Our portfolio, concentrated in coastal gateway markets delivered 7.9% RevPAR growth in the second quarter. Other than New York City, each of our major markets delivered double-digit RevPAR growth, driving a 15.7% enhances in Hotel EBITDA to $54.0 million. Our portfolio in Manhattan outperformed the market by 50 basis points, marking our sixth straight quarter of outperforming Manhattan market trends. Operating fundamentals in Manhattan improved sequentially, with the portfolio delivering 2.4% RevPAR growth in June. This improvement, together with our results in July, provides confidence for a stronger back half of 2015.”
Hersha Hospitality Trust, a real estate investment trust, engages in the ownership and operation of mid scale limited service hotels in the Eastern United States. As of June 30, 2005, it owned interests in 35 hotels, counting 4 hotels owned through joint ventures in Pennsylvania, New York, New Jersey, Maryland, Georgia, Connecticut, and Massachusetts.
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