On Friday, Shares of Avalanche Biotechnologies Inc (NASDAQ:AAVL), lost -27.62% to $10.01.
Avalanche Biotechnologies, stated financial results for the second quarter ended June 30, 2015.
The company also stated that after further analyses of results from a formerly stated Phase 2a trial of AVA-101 for the potential treatment of wet age-related macular degeneration (wet AMD), it will not initiate a Phase 2b clinical trial in the second half of 2015.
Instead, Avalanche will conduct additional preclinical studies to investigate optimal dose and delivery of AVA-101 and AVA-201 as compared to standard of care anti-VEGF protein therapy to select the best gene therapy product candidate for wet AMD to advance back into the clinic. This decision was based on more detailed analyses of the Phase 2a clinical trial data, which comprised of individual subject-level assessment of anatomic and functional outcomes, treatability of the Phase 2a subjects and product administration.
Avalanche Biotechnologies, Inc., a clinical-stage biotechnology company, focuses on discovering and developing novel gene therapies for the treatment of ophthalmic diseases based on its Ocular BioFactory platform.
Shares of Avolon Holdings Ltd (NYSE:AVOL), declined -0.46% to $30.48, during its last trading session.
Avolon, declared the delivery of a Boeing 737-800 aircraft to Lion Air. This delivery is the seventh Avolon aircraft on lease to Lion Air.
Avolon Holdings Limited acquires, manages, leases, and sells commercial jet aircraft to various airlines and lessees in the United States and internationally. The company also acts as a servicer for third party aircraft owners.
Finally, Canadian Pacific Railway Limited (USA) (NYSE:CP), ended its last trade with 0.67% gained, and closed at $159.15.
Canadian Pacific is well positioned to provide best-in-class service to western Canadian grain shippers during the 2015-2016 crop-year.
CP’s service offering to grain customers is driven by efficiency and creating velocity in the rail portion of the complex grain supply chain. CP’s Dedicated Train Program (DTP), which was introduced last-crop year, provides customers with greater clarity and control of car supply to manage their supply chain. CP anticipates adding more trains to the program this crop year as it responds to greater demand to move grain and grain products from western Canada . In the 2014-2015 crop years, CP moved a record 276,154 carloads (27,849,434 MT) of Canadian grain and grain products from western Canadian origins, up from the previous record crop year of 2013-2014.
CP continues to invest in its network to improve efficiency, create velocity, and provide the best service possible to customers. In 2015, CP will spend 21 percent of its revenue on capital expenditures, more than any other Class 1 railroad. Canadian rail rates remain among the lowest in the world, having risen just 6 percent since 2000 even as commodity prices have soared by 166 percent.
Canadian Pacific Railway Limited, through its auxiliaries, operates a transcontinental railway in Canada and the United States. The company provides logistics and supply chain expertise services.
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