On Thursday, Shares of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO), skyrocketed 39.38% to $2.23, hitting its highest level.
AVEO Pharmaceuticals, declared that final results from the TIVO-1 extension study, known as Study 902, in which patients with advanced renal cell carcinoma (RCC) received tivozanib as second-line treatment subsequent to disease progression on sorafenib in the Company’s Phase 3 TIVO-1 first-line RCC study, will be presented at the 2015 American Society of Clinical Oncology (ASCO) Annual Meeting. The Company formerly stated interim median progression free survival (PFS) results of 8.4 months among the 163 patients enrolled in Study 902. Final results now show a median PFS in this setting of 11.0 months and median overall survival (OS) of 21.6 months, demonstrating the efficacy of tivozanib in a VEGF treatment refractory population.
AVEO also declared that it has received a written response from the U.S. Food and Drug Administration (FDA) stating that a phase 3 study outlined by the Company, in patients with RCC who have failed at least two preceding regimens, counting VEGF therapy, “may support AVEO’s projected indication for tivozanib in the 3rd line setting.” In response to whether the study, together with the TIVO-1 study, would be sufficient to support licensure of tivozanib as a treatment for advanced RCC, the FDA indicated: “whether the results from this study can support AVEO’s proposal for tivozanib in the first line setting is a review issue.”
AVEO Pharmaceuticals, Inc., a biopharmaceutical company, develops targeted therapies for patients with cancer and related diseases. Its product candidates under development comprise Tivozanib, an tyrosine kinase inhibitor for various vascular endothelial growth factors; Ficlatuzumab, a hepatocyte growth factor inhibitory antibody, which has accomplished Phase II trial; and AV-203, an anti-ErbB3 monoclonal antibody that has accomplished a Phase I dose escalation study.
Shares of Trina Solar Limited (NYSE:TSL), inclined 12.75% to $12.47, during its last trading session.
Trina Solar Limited, received the esteemed Innovation Award for the company’s Duo-Max module, a 72-cell frameless dual glass module (PEG14 series) at the Mexico International Renewable Energy Conference (MIREC), held this week in Mexico City.
The incredible durability of Duo-Max starts with two sheets of heat-strengthened glass and a special edge seal to create a PID and micro-crack resistant panel. It is certified against sand, salt, mist, ammonia, alkali and hail. The durable glass-on-glass design makes Duo-Max the solar panel of choice for systems installed in regions with hot temperatures and humid climates.
The glass-on-glass module has a maximum system voltage of 1500 volts, which allows for more modules per string and reduces balance of system costs. With just a 0.5% annual degradation rate, the Duo-Max modules delivers more energy over its lifetime than a conventional module. The proven durability of Duo-Max is combined with a ground-breaking 30-year warranty to provide unmatched customer satisfaction.
Trina Solar Limited operates as an integrated solar-power products manufacturer and solar system developer in the People’s Republic of China, Europe, the United States, and other Asia Pacific regions.
At the end of Thursday’s trade, Shares of Fibria Celulose SA (NYSE:FBR), lost -2.72% to $13.58.
After spending the past six years reducing debt to regain its investment grade, Fibria Celulose SA is now embarking on a $2.5 billion expansion, according to Bloomberg.
But far from facing push-back from bondholders, the Sao Paulo-based company is winning them over. Fibria’s $600 million of notes due in 2024 climbed to a record, pushing down yields to as low as 4.83 percent, after the company said on May 14 it will add a production line to tap into growing Chinese demand for pulp products like tissue and toilet paper.
Fibria is reassuring investors it can finance the project without selling bonds after the Brazilian currency’s plunge assisted it generate record cash in the first quarter. Fibria will pay cash for as much as 40 percent of the project and get financing from lenders counting state-development bank BNDES. Bloomberg Reports.
Fibria Celulose S.A. engages in the production, sale, and export of short fiber pulp. The company primarily offers bleached eucalyptus kraft pulp used in the manufacture of toilet paper; uncoated and coated paper for printing and writing; and coated cardboard for packaging.
Finally, Paramount Group, Inc. (NYSE:PGRE), ended its last trade with -0.31% loss, and closed at $19.16.
Paramount Group, Inc. (PGRE) declared that its board of directors declared a regular quarterly cash dividend of $0.095 per share of common stock for the second quarter ending June 30, 2015. The dividend will be payable July 15, 2015 to stockholders of record as of the close of business on June 30, 2015.
Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City, Washington, D.C. and San Francisco.
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