On Friday, Plasmatech Biopharmaceuticals Inc (NASDAQ:PTBI)’s shares declined -4.32% to $7.98.
Plasmatech Biopharmaceuticals Inc (PTBI) declared that it closed the formerly declared equity financing of $10 million of common stock at a price of $8.00 per share, or 1,250,000 shares, and warrants to purchase 625,000 shares of common stock. The warrants have an exercise price of $10.00 per share and are exercisable for 30 months from the closing date. Proceeds from the financing will be used to support continued development of its programs in orphan diseases, potential expansion of its portfolio in other rare disease programs, working capital and general corporate purposes.
PlasmaTech Biopharmaceuticals, Inc. operates as a biopharmaceutical company and develops protein biologic therapies and oncology supportive care products. The company’s marketed product comprises MuGard the administration of oral mucositis; and ProctiGard for the treatment of radiation proctitis, a frequent side effect of radiation treatment to the pelvic region.
Kite Pharma Inc (NASDAQ:KITE)’s shares dropped -4.29% to $50.02.
Kite Pharma Inc (KITE) stated financial results for the quarter ended March 31, 2015.
Highlights of Developments in First Quarter 2015
- Amgen Collaboration:In January, Kite declared a broad partnershipwith Amgen to develop and commercialize a next generation of novel CAR T cell immunotherapies. Amgen is contributing cancer targets, and Kite is leveraging its proprietary CAR platform, R&D and manufacturing capabilities and expertise. Under the agreement, Kite will conduct all preclinical research and cell manufacturing and processing through IND filing, following which each company will be responsible for clinical development and commercialization of their respective CAR therapeutic candidates. Kite received a $60.0 million upfront payment from Amgen in the first quarter of 2015.
- Acquisition of T-Cell Factory B.V. (TCF(TM)):In March, Kite attained Netherlands-based TCF(TM), which was renamed Kite Pharma EU, establishing a European presence for Kite’s operations. TCF(TM)’s proprietary TCR-GENErator(TM) discovery platform is an industry-leading R&D engine for rapid, high-throughput identification of TCR-based product candidates, which could commence clinical testing as early as 2017.
- Expanded Agreement with Tel Aviv Sourasky Medical Center:In January, Kite declared the expansion of its agreement with Tel Aviv Sourasky Medical Center to research and develop novel approaches to CAR T cell therapy, collaborating with Professor Zelig Eshhar, Ph.D., a leading pioneer in CAR T cell research and a member of Kite’s Scientific Advisory Board.
- Investment in New Manufacturing Capabilities:Kite secured facilities in Southern California, through lease agreements, to provide clinical and commercial product to support clinical development and the launch of KTE-C19, Kite’s lead therapeutic candidate.
Kite Pharma, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel cancer immunotherapy products. The company is developing a pipeline of engineered autologous cell therapy-based product candidates for the treatment of solid and hematological malignancies.
At the end of Friday’s trade, DryShips Inc. (NASDAQ:DRYS)‘s shares dipped -3.79% to $0.777.
DryShips Inc. (DRYS) declared its unaudited financial and operating results for the first quarter ended March 31, 2015.
First Quarter 2015 Financial Highlights
- For the first quarter of 2015, the Company stated a net loss of $59.2 million, or 8.9 cents basic and diluted loss per share.
Comprised of in the first quarter 2015 results is an impairment charge on ten tanker vessels, of $56.6 million, or 8.5 cents per share.
Not taking into account this item, the Company’s net results would have amounted to a net loss of $2.6 million, or 0.4 cents per share.(1)
- The Company stated Adjusted EBITDA of $242.1 million for the first quarter of 2015, as contrast to $200.6 million for the first quarter of 2014.(2)
| (1) | The net result is adjusted for the minority interests of 40.82% not owned by DryShips Inc. common stockholders. |
| (2) | Adjusted EBITDA is a non-GAAP measure; please see later in this press release for reconciliation to net income. |
DryShips Inc. provides ocean transportation services for drybulk and petroleum cargoes, and offshore deepwater drilling services. The company operates through Drybulk, Tanker, and Drilling segments.
Axiall Corp (NYSE:AXLL), ended its Friday’s trading session with -3.73% loss, and closed at $36.40.
Axiall Corp (AXLL) declared that Chief Financial Officer Greg Thompson will address investors and analysts at the Goldman Sachs Basic Materials Conference on Wednesday, May 20, at 8:35 a.m. Eastern time.
Axiall Corporation manufactures and markets chemicals and building products in the United States and internationally. The company operates through three segments: Chlorovinyls, Building Products, and Aromatics.
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