On Wednesday, Shares of Barrick Gold Corporation (NYSE:ABX), gained 5.86% to $8.13, as China’s currency devaluation is assisting gold shine in the midst of a collapse in commodities and a pullback in stocks, according to WSJ.
Prices for the precious metal have bounced from multiyear lows to stand at their highest level in nearly a month. On Wednesday, gold closed at $1,123.20 a troy ounce, up 3.5% from its 52-week low July 24. WSJ Reports
Barrick Gold Corporation produces and sells gold and copper. The company is also involved in exploration and mine development activities. It conducts mining, development and exploration, and other activities in various countries, counting the United States, Canada, Australia, Argentina, Chile, Peru, the Dominican Republic, Papua New Guinea, Tanzania, Zambia, and Saudi Arabia.
Shares of Marathon Oil Corporation (NYSE:MRO), inclined 0.95% to $19.06, during its last trading session, as oil prices have edged up from six-year lows as US oil supplies declined and the dollar retreated.
US benchmark West Texas Intermediate for September delivery rose 22 cents to $US43.30 a barrel on the New York Mercantile Exchange on Wednesday. The US contract on Tuesday closed at the lowest level since March 2009.
European benchmark Brent oil for September delivery gained 48 cents to $US49.66 a barrel in London.
Marathon Oil Corporation operates as an energy company. It operates in three segments: North America Exploration and Production, International Exploration and Production, and Oil Sands Mining.
Finally, MannKind Corp. (NASDAQ:MNKD), ended its last trade with 3.61% gain, and closed at $4.31.
MannKind Corporation stated financial results for the second quarter ended June 30, 2015.
For the three and six months ended June 30, 2015, product shipments of Afrezza, our novel rapid-acting inhaled insulin therapy, were $5.9 million and $13.0 million, respectively, which we recorded as deferred product sales from our partnership with Sanofi. For the quarter ended June 30, 2015, our portion of the loss sharing arrangement with Sanofi related to Afrezza was $12.8 million, which we subsequently financed by way of an advance under the loan facility with an associate of Sanofi after June 30, 2015. The amount presently outstanding under the Sanofi loan facility is now $28.4 million, which comprises $0.2 million in paid-in-kind interest.
For the second quarter of 2015, total operating expenses reduced from $69.8 million to $24.1 million, a decline of 65.5% contrast to the same quarter in 2014, primarily due to Afrezza having moved out of clinical development into the commercial market. Additionally, non-cash stock compensation from the non-recurring achievement of performance and modification events in 2014 reduced in the second quarter of 2015 as contrast to the second quarter of 2014. Research and development expenses reduced from $37.3 million to $7.7 million, a decrease of 79.4%, reflecting the transition from development to commercial activities. General and administrative expenses reduced from $32.5 million to $10.6 million, a reduction of 67.4%, mainly due to the decrease in non-cash stock compensation expense. Offsetting the total decrease of $51.5 million in R&D and G&A for the second quarter of 2015 was product manufacturing costs of $5.7 million. We did not recognize any product manufacturing costs in the second quarter of 2014 as we had not yet commenced commercialization of Afrezza.
MannKind Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic products for diabetes in the United States. Its lead product is AFREZZA inhalation powder, an insulin to control high blood sugar in adult patients with type 1 and type 2 diabetes. MannKind Corporation was founded in 1991 and is headquartered in Valencia, California.
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