On Monday, Shares of Encana Corporation (NYSE:ECA), lost -5.84% to $7.42, hitting its lowest level.
Strong second quarter operational performance assisted Encana Corporation deliver its seventh successive quarterly enhance in liquids volumes since launching its strategy to grow high-margin production. A focused and front-end loaded capital program has positioned the company to accelerate liquids production growth in the second half of 2015.
Second quarter liquids production raised more than five percent over the previous quarter, largely attributable to continued organic growth in the company’s Eagle Ford and Permian positions. Second quarter natural gas production of about 1.6 billion cubic feet per day (Bcf/d) reflects a 16 percent decrease contrast to the previous quarter, mainly due to divestitures, the company’s seasonal production strategy for its Deep Panuke platform and takeaway restrictions in the Montney.
Total company production averaged 389,000 (BOE/d) with Encana’s four planned assets contributing about 223,000 BOE/d or 57 percent. The company anticipates its Permian, Eagle Ford, Duvernay and Montney assets will contribute an average of about 270,000 BOE/d or 65 percent of total production during the fourth quarter of 2015.
Encana Corporation, together with its auxiliaries, engages in the development, exploration, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the United States.
Shares of MediciNova Inc. (NASDAQ:MNOV), inclined 8.55% to $3.81, during its last trading session.
MediciNova and the JASDAQ Market of the Tokyo Stock Exchange (Code Number:4875), recently declared that FDA (U.S. Food and Drug Administration) has approved a second protocol for a clinical trial evaluating MN-001 (tipelukast) for a NASH indication. This study targets NASH patients with hypertriglyceridemia to evaluate the ability of MN-001 to improve cardiovascular risk by assessing cholesterol-efflux capacity and serum triglyceride levels in addition to reduction of percent fat in the liver, as assessed by MRI.
Yuichi Iwaki, MD, PhD, President and Chief Executive Officer of MediciNova, Inc., commented, “We are very happy to have successfully accomplished the FDA review period and look forward to initiating patient enrollment shortly. The safety and efficacy data from this trial will be important to our overall development efforts targeting NASH and should be complementary to efforts underway. In previous clinical trials and preclinical studies, serum triglyceride levels were reduced in MN-001-treated groups. It is well known that NASH patients often have elevated serum lipid levels, one of the factors that contribute to cardiovascular disease. Recent studies have confirmed that cardiovascular disease is the single most important cause of mortality in this patient population. Importantly, MN-001’s anti-fibrotic properties combined with its potential to reduce triglyceride levels in NASH patients offers a novel approach to the treatment of NASH.”
MediciNova, Inc., a biopharmaceutical company, focuses on acquiring and developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs for the United States market.
Finally, Builders FirstSource, Inc. (NASDAQ:BLDR), ended its last trade with -1.34% loss, and closed at $13.21.
Builders FirstSource declared the commencement of a public offering of 11,000,000 shares of its common stock, counting 8,000,000 shares to be sold by the Company and 3,000,000 shares to be sold by Warburg Pincus Private Equity IX, L.P. (the “Selling Stockholder”). In connection with the offering, the Company and the Selling Stockholder have each granted the underwriters an option for 30 days to purchase up to an additional 1,200,000 and 450,000 shares, respectively. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be accomplished, or the size or terms of the offering.
Builders FirstSource, Inc. manufactures and supplies structural and related building products for residential new construction primarily in the southern and eastern United States.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
