On Friday, Following U.S. Stocks were among the “Top Gainers”: Organovo Holdings Inc (NYSEMKT:ONVO), Freescale Semiconductor Ltd (NYSE:FSL), McDermott International (NYSE:MDR)
Organovo Holdings Inc (NYSEMKT:ONVO), with shares inclined 6.33%, closed at $4.70.
Freescale Semiconductor Ltd (NYSE:FSL), with shares climbed 5.87%, and closed at $42.57, hitting new 52-week high of $42.75.
McDermott International (NYSE:MDR), surged 5.66%, and closed at $3.36.
Latest NEWS regarding these Stocks are depicted underneath:
Organovo Holdings, Inc. (NYSEMKT:ONVO)
Organovo Holdings, Inc. (ONVO), offered market update on March 13.
Organovo remains extremely excited about the early commercial success of our exVive3D™ Human Liver Tissue and we continue to believe it has a strong commercial future in front of it. Nothing has changed from the Corporation’s perspective, nor are we in possession of any new information that would dampen our optimism about the future of our exVive3D™ Human Liver Tissue or the future of Organovo. As we’ve said before, we believe that as we penetrate the toxicology market, our exVive3D™ Human Liver Tissue and service will grow into the tens of millions in annual proceed, and has $100M+ proceed potential in the future as we pursue diligent sales and marketing efforts (inside of a total addressable market of over $1B). We believe we’re on the way to building a strong profit center in research tissues for Organovo, which will expand with our launch of 3D bioprinted kidney tissues in 2016.
In addition to having excellent operational execution, Organovo is also financially strong. Our balance sheet is strong with no debt, more than $50 million in cash on hand, and a preceding quarter burn rate that annualized at about $19 million per year. We have recently communicated we expect spending on current projects to ramp our annual burn rate to $25 million per year; but even at that higher rate of spending, we have about two years of operating cash on hand.
Organovo’s Board and administration team are focused on executing our aims and remain confident in the Corporation’s technology and team. The Corporation has hit every milestone it has described to investors on a timely basis since going public in 2012. We are proud of our accomplishments to date, and we look forward to ongoing to execute our planned vision, counting a aim to build long-term shareholder value. We believe we are the leader in 3D bioprinting and 3D tissues and we are working diligently to retain leadership and capture value for our shareholders.
Organovo designs and creates functional, three-dimensional human tissues for use in medical research and therapeutic applications. The Corporation develops 3D human disease models through internal development and in partnership with pharmaceutical and academic partners. Organovo’s 3D human tissues have the potential to accelerate the drug discovery process, enabling treatments to be developed faster and at lower cost.
Freescale Semiconductor, Ltd. (NYSE:FSL)
Freescale Semiconductor, Ltd. (FSL), presented at the Piper Jaffray Technology, Media and Telecommunications Conference. Chris Hartman, investor relations presented for the corporation. The conference was on Tuesday, March 10, 2015, at Le Parker Meridien, New York, NY.
Freescale Semiconductor (FSL) enables secure, embedded processing solutions for the Internet of Tomorrow. Freescale’s solutions drive a more innovative and connected world, simplifying our lives and making us safer.
McDermott International Inc. (NYSE:MDR)
Formerly on March 2, McDermott International Inc. (MDR), declared that it has been awarded initial work for a noteworthy power supply system replacement contract by Saudi Aramco for the Marjan field, offshore Saudi Arabia. Work is predictable to be executed through the fourth quarter of 2016 and will be comprised of in McDermott’s first quarter 2015 backlog.
The overall brownfield project comprises integrated engineering, procurement, construction, installation (“EPCI”) and replacement of the decks of two existing tie-in platforms, in addition to the removal and salvage of existing gas turbine generators, and the installation of two new 115kV subsea power and communication cables. The initial scope of work awarded recently, comprises the engineering, procurement, fabrication and load-out of the platforms and cable.
Engineering is predictable to be carried out by McDermott’s specialist teams in Dubai, U.A.E.; Al Khobar, Saudi Arabia; and Chennai, India, and the two new electrical decks are planned to be fabricated at the Dubai-based fabrication facility.
McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Corporation delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex Offshore and Subsea oil and gas projects to assist oil companies safely produce and transport hydrocarbons.
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