During Monday’s Afternoon trade, Shares of CTI BioPharma Corp. (NASDAQ:CTIC), lost -0.22% to $2.27.
On June 10, CTI BioPharma Corp., declared that it has amended its existing loa contract with Hercules Technology Growth Capital, Inc. (Hercules). Following the amendment, Hercules agreed to provide term loans in an aggregate principal amount of up to $25.0 million under the facility, inclusive of amounts outstanding right away preceding to closing of the amendment. On June 9, 2015, about $6.2 million (less fees and expenses) was funded, thereby resulting in a current outstanding principal balance under the facility of $20.0 million. The remaining $5.0 million is accessible for borrowing at CTI BioPharma’s option through June 30, 2016, subject to no event of default under the facility and the satisfaction of the following two conditions: (1) receipt by Hercules on or preceding to December 31, 2015 of satisfactory evidence that CTI BioPharma has achieved full patient enrollment for the PERSIST-2 Phase III clinical trial for pacritinib and (2) receipt by Hercules on or preceding to June 30, 2016 of satisfactory evidence that CTI BioPharma has achieved positive phase III data in connection with such clinical trial. In connection with the amendment, CTI BioPharma issued Hercules a warrant exercisable in whole or in part for up to 292,398 shares of common stock of CTI BioPharma at any time preceding to June 9, 2020 at an initial exercise price per share of $1.71. CTI BioPharma intends to use any future proceeds from any future cash exercise of the warrant for general corporate purposes.
CTI BioPharma Corp., a biopharmaceutical company, engages in the acquisition, development, and commercialization of novel targeted therapies for blood-related cancers in the United States and internationally. It primarily focuses on the commercialization of PIXUVRI, an aza-anthracenedione derivative for the treatment of adult patients with multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma in the European Union.
Shares of Rex Energy Corporation (NASDAQ:REXX), declined -1.20% to $4.95, during its current trading session.
Rex Energy Corporation declared initial production test results from the company’s first two wells in the Moraine East Area, the Renick 2H (Marcellus) and the Renick 3H (Upper Devonian Burkett).
As formerly declared, the company finished completion operations on the four-well Renick pad, comprising of three Marcellus wells and one Upper Devonian Burkett well. The Renick 2H was drilled to a lateral length of about 6,000 feet and accomplished in 40 stages with sand concentrations of 2,300 pounds per foot. The Renick 2H produced at a 24-hour test rate, assuming full ethane recovery, of about 6.6 MMcfe/d, comprising of 3.0 MMcf/d of natural gas, 566 bbls/d of NGLs and 47 bbls/d of condensate. At the time the Renick 2H was shut in, the well was still cleaning up and ongoing to experience an enhance in the production rate. Based on composition analysis, the gas being produced is about 1,309 BTU.
The Renick 3H was drilled to a lateral length of about 5,700 feet and accomplished in 38 stages with sand concentrations of 2,300 pounds per foot. The Renick 3H produced at a 24-hour rate, assuming full ethane recovery, of about 8.2 MMcfe/d, comprising of 3.5 MMcfe/d of natural gas, 675 bbls/d of NGLs and 101 bbls/d of condensate. Of particular note is the raised condensate production from the Renick 3H, which represents the highest condensate production rate to date in the Butler Operated Area. Based on composition analysis, the gas being produced is about 1,302 BTU.
Rex Energy Corporation operates as an independent oil, natural gas liquid, and natural gas company in the Appalachian and Illinois basins in the United States. The company focuses on the Marcellus Shale, Utica Shale, and Burkett Shale drilling and exploration activities in the Appalachian Basin, in addition to on developmental oil drilling and the implementation of improved oil recovery on its properties in the Illinois Basins.
Finally, Activision Blizzard, Inc. (NASDAQ:ATVI), gained 0.74%, and is now trading at $25.20.
Bungie and Activision Publishing, Inc., a wholly owned partner of Activision Blizzard, Inc. (Nasdaq: ATVI), declared The Taken King, a major expansion and by far the largest addition to the Destiny universe yet. Building upon Destiny, the biggest new video game franchise launch in history, The Taken King grows the universe with the first full destination to be added to the game since launch, an all-new campaign, three new Guardian subclasses, a massive arsenal of new armor, weapons and exotics, new Strikes and Crucible maps, a new Raid that will put players to the ultimate test, and more. The Taken King will be accessible world-wide on September 15, 2015.
“The Taken King is the next evolution of the saga, kicking off another great year of Destiny,” said Harold Ryan, president of Bungie. “What’s exciting for the studio is to continue to open new experiences for our existing, passionate community and to welcome new players to Destiny. We’ve loved listening to players’ reaction so far and have offered nearly 30 updates along the way to continue to grow the universe. Our active players are still spending about three hours a day playing so it’s important we give them a world to engage with and surprise them with new activities in The Taken King in September.”
“The Taken King takes everything that was great about Destiny, and makes it even better,” said Eric Hirshberg, CEO of Activision Publishing. “Our partners at Bungie have created something very special with this universe, and have also done a great job listening to our community as this saga continues to unfold. We are excited for the next chapter.”
Activision Blizzard, Inc. develops and publishes online, personal computer (PC), video game console, handheld, mobile, and tablet games worldwide. The company develops and publishes interactive entertainment software products through retail channels or digital downloads; and downloadable content to a range of gamers.
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