On Friday, Shares of Gilead Sciences Inc. (NASDAQ:GILD), gained 2.02% to $103.85.
Gilead Sciences, and EpiTherapeutics ApS, a privately-held Danish company, declared the signing of a definitive agreement following which Gilead has attained EpiTherapeutics for $65 million, subject to certain purchase price adjustments, to be financed through accessible cash on hand.
EpiTherapeutics has generated a library of first-in-class, selective small molecule inhibitors of epigenetic regulation of gene transcription, in particular histone demethylases. The company’s lead pre-clinical compounds are being studied for the treatment of certain cancers.
“Epigenetics is a promising area of research and the EpiTherapeutics team is a recognized scientific leader in this field,” said Norbert Bischofberger, PhD, Gilead’s Executive Vice President, Research and Development and Chief Scientific Officer. “This therapeutic class represents a planned fit with our existing research portfolio, counting the potential for novel combination approaches. We look forward to working with colleagues from EpiTherapeutics to advance these programs toward clinical development in diseases with noteworthyunmet medical need.”
“EpiTherapeutics has done groundbreaking work in a new therapeutic class of small molecule inhibitors with broad implications across various disease states,” said Martin Bonde, PhD, EpiTherapeutics’ Chief Executive Officer. “We are confident that with Gilead’s acquisition of the company, our discoveries will have the best chance to be developed into therapies that will benefit patients.”
Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines in areas of unmet medical nee in North America, South America, Europe, and the Asia-Pacific. The companys products comprise Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, Tybost, and Vitekta for the treatment of human immunodeficiency virus (HIV) infection in adults; and Harvoni, Sovaldi, Viread, and Hepsera products for the treatment of liver disease.
Shares of GlaxoSmithKline plc (NYSE:GSK), inclined 2.40% to $45.28, during its last trading session.
ViiV Healthcare is a global specialist HIV company established in November 2009 by GlaxoSmithKline, and Pfizer (PFE) dedicated to delivering advances in treatment and care for people living with HIV. Shionogi joined as a 10% shareholder in October 2012.
ViiV Healthcare declared the start of a Phase III clinical trial programme to evaluate the safety and efficacy of dolutegravir (Tivicay®) and rilpivirine (Edurant®[1]) as maintenance therapy for adult patients with HIV. The Phase III programme comprises two replicate studies evaluating 48 week viral suppression with a two drug regimen combining an integrase inhibitor (dolutegravir) and a non-nucleoside reverse transcriptase inhibitor (rilpivirine) in patients with HIV who have already achieved viral suppression with a three drug regimen.
In June 2014, ViiV Healthcare and Janssen Sciences Ireland UC, one of the Janssen Pharmaceutical Companies of Johnson & Johnson declared a partnership to investigate the potential of combining dolutegravir and rilpivirine in a single-tablet in order to expand the treatment options accessible to people living with HIV (ViiV Healthcare declares new partnership with Janssen).
GlaxoSmithKline plc creates, discovers, develops, manufactures, and markets pharmaceutical products, counting vaccines, over-the-counter medicines, and health-related consumer products worldwide. The company offers pharmaceutical products in the therapeutic areas, counting respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, and emesis, dermatology, rare diseases, immuno-inflammation, vaccines, and HIV.
At the end of Friday’s trade, Shares of Ensco plc (NYSE:ESV), gained 3.88% to $26.51.
Ensco, declared that it has reached a three-year contract with NDC for a new premium jackup, ENSCO 110. This newbuild rig is planned to commence operations later this month offshore United Arab Emirates at a rate of about $114,000 per day.
NDC has also contracted ENSCO 104 for a three-year term at a day rate of $114,000. The rig is mobilizing to the Middle East from the Asia Pacific region and is planned to commence its new contract in late-June 2015.
Chief Executive Officer Carl Trowell commented, “We are happy to extend our relationship with NDC. The Middle East is the largest market for premium jackups, and we continue to invest in new rig technology for the benefit of customers. In addition to ENSCO 110, two more high-specification jackups, ENSCO 140 and ENSCO 141, are planned for delivery in 2016 from Lamprell’s shipyard in the United Arab Emirates.”
Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. The company operates through three segments: Floaters, Jackups, and Other.
Finally, ConocoPhillips (NYSE:COP), ended its last trade with 0.83% gain, and closed at $67.17.
ConocoPhillips, stated first-quarter 2015 earnings of $272 million, or $0.22 per share, contrast with first-quarter 2014 earnings of $2.1 billion, or $1.71 per share. Not taking into account special items, first-quarter 2015 adjusted earnings were a net loss of $222 million, or ($0.18) per share, contrast with first-quarter 2014 adjusted earnings of $2.3 billion, or $1.81 per share. Special items for the current quarter related to a deferred tax benefit from a change in U.K. tax law, partially offset by restructuring costs across the company.
Highlights
- Achieved first-quarter production of 1,610 MBOED.
- Five percent year-over-year production growth from ongoing operations, adjusted for Libya, downtime and dispositions.
- Seven percent year-over-year reduction in operating costs; 12 percent reduction when adjusted for restructuring charges of $104 million pre-tax.
- First production at Eldfisk II and the Brodgar H3 subsea tie-back in Europe, in addition to Bayu Undan Phase III in Australia.
- On track for five major project startups at Surmont 2, APLNG, Enochdhu, CD5 and Drill Site 2S by year end.
- Exploration and appraisal activity ongoing with conventional activity in the Gulf of Mexico and Angola; unconventional activity in the Lower 48 and Canada.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids worldwide. Its portfolio comprises shale and oil sands assets; lower-risk legacy assets in North America, Europe, Asia, and Australia; various international developments; and exploration prospects. ConocoPhillips was founded in 1917 and is headquartered in Houston, Texas.
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