On Tuesday, Shares of CytRx Corporation (NASDAQ:CYTR), lost -20.00% to $3.04.
CytRx Corporation, declared the pricing of its formerly declared underwritten public offering. CytRx is offering 9,100,000 shares of common stock at a public offering price of $2.75 per share for gross proceeds of about $25.0 million, preceding to deducting underwriting discounts and commissions and estimated offering expenses payable by CytRx.
CytRx intends to use the net proceeds of the offering to fund clinical trials of its drug candidate aldoxorubicin and its drug discovery activities and for general corporate purposes, which may comprise pre-commercialization activities regardingaldoxorubicin, working capital, capital expenditures, research and development and other commercial expenditures. CytRx has granted the underwriters a 30-day option to purchase up to an additional 1,365,000 shares of common stock. The offering is predictable to close on or about July 24, 2015, subject to the satisfaction of customary closing conditions.
CytRx Corporation operates as a biopharmaceutical research and development company specializing in oncology. The company’s product candidate is aldoxorubicin, which is in Phase III clinical trial as a therapy for patients with soft tissue sarcomas (STS) whose tumors have progressed following treatment with chemotherapy; in Phase IIb clinical trial in small cell lung cancer; in Phase II clinical trial in HIV-related Kaposi’s sarcoma; in Phase II clinical trial in patients with late-stage glioblastoma (brain cancer); in Phase Ib trial in combination with ifosfamide in patients with soft tissue sarcoma; and in Phase Ib trial in combination with gemcitabine in subjects with metastatic solid tumors.
Shares of Boeing Co (NYSE:BA), declined -1.17% to $145.00, during its last trading session.
Boeing first declared EVA Air’s intent to order the five 777 Freighters at the 2015 Paris Air Show last month.
“Airfreight is an important link in global trade,” EVA Air Chairman K.W. Chang said. “We are investing in the most advanced aircraft and committing ourselves to ongoing to ensure efficient, reliable service. Quality service and flight safety are our top priorities at EVA and we apply the same high standards to cargo services. We are determined to make EVA the world’s best airline for both passenger and cargo services.”
The Boeing Company, together with its auxiliaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide.
Finally, FuelCell Energy Inc (NASDAQ:FCEL), ended its last trade with -1.24% loss, and closed at $0.893.
FuelCell Energy declared noteworthy progress towards achieving commercial deployment of its solid oxide fuel cell (SOFC) technology, naming three projects selected by the U.S. Department of Energy (DOE) for funding support. The projects are designed to demonstrate performance and commercial-readiness, further reduce both product and manufacturing costs, and validate hydrogen production utilizing the SOFC technology in an electrolysis configuration.
“FuelCell Energy is a leader in developing innovative clean power generation that enhances energy resiliency and security in an environmentally-friendly manner and contributes to the growth of our economy with domestic manufacturing,” said Congresswoman Elizabeth Esty (CT-5). “The vision and support from the Department of Energy is a testament to the groundbreaking work being performed by the FuelCell Energy team.”
FuelCell Energy, Inc., together its auxiliaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed power generation. The company is also involved in the development, design, production, and sale of fuel cell products under the Direct FuelCell name.
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 with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
