On Monday, Shares of Isis Pharmaceuticals, Inc. (NASDAQ:ISIS), gained 2.44% to $59.66.
Bayer HealthCare (Bayer) has reached an exclusive license agreement with Isis Pharmaceuticals, on ISIS-FXIRx, an antisense investigational drug in clinical development for the prevention of thrombosis. Under the agreement Bayer will further develop and commercialize ISIS-FXIRx in areas of high unmet medical need. As part of the clinical development program, Bayer plans to evaluate the therapeutic profile of ISIS-FXIRx in an appropriate patient community.
Under the terms of the agreement, Isis is eligible to receive near-term payments, counting an up-front payment and payment upon advancement of the program following a Phase II study in patients with compromised kidney function. Isis is also eligible to receive milestone payments as the drug advances toward the market. In addition, Isis is eligible to receive tiered royalties on gross margins of ISIS-FXIRx. After completion of ongoing activities at Isis, Bayer will assume all global clinical development in addition to worldwide regulatory and commercialization responsibilities for ISIS-FXIRx.
This transaction is subject to clearances under the Hart-Scott Rodino Antitrust Improvements Act.
Isis Pharmaceuticals, Inc. engages in the discovery and development of antisense drugs using novel drug discovery platform. The company’s flagship product comprises the KYNAMRO injection, which is an apo-B synthesis inhibitor for patients with homozygous familial hypercholesterolemia; and for the reduction of low-density lipoprotein cholesterol.
At the end of Monday’s trade, Shares of New Gold, Inc. (NYSEMKT:NGD), jumped 2.42% to $3.38.
New Gold, declared the voting results from the election of its Board of Directors at New Gold’s Annual and Special Meeting of Shareholders held on April 29, 2015 in Toronto , Ontario. The director nominees listed in the Administration Information Circular dated March 17, 2015 were elected as directors of New Gold at the Meeting.
New Gold Inc., a gold mining company, engages in the acquisition, exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits.
Pan American Silver Corp. (NASDAQ:PAAS), ended its last trade with 2.42% gain, and closed at $9.73.
Pan American Silver, declared that, in connection with its Annual General and Special Meeting (the “AGM”) to be convened on May 11, 2015, it has posted a cumulative black-line to its website (www.panamericansilver.com) showing all of the projected changes to its current Stock Option and Compensation Share Plan (the “Plan”). The Company’s projected changes to the Plan were initially communicated to shareholders in the Company’s information circular, dated April 7, 2015, and subsequently augmented in a news release dated April 26, 2015, both of which are accessible at www.sedar.com. The black-line of the Plan has been posted for completeness and clarification purposes preceding to the Company’s forthcoming AGM.
Pan American Silver Corp., together with its auxiliaries, operates and develops, and explores for silver producing properties and assets in Mexico, Peru, Argentina, and Bolivia.
Finally, Cumulus Media Inc. (NASDAQ:CMLS), closed at $2.12, with 2.42% gain.
Cumulus Media, declared operating results for the three months ended March 31, 2015.
Net revenue for the three months ended March 31, 2015 reduced $21.0 million, or 7.2%, to $271.1 million, contrast to $292.0 million for the three months ended March 31, 2014. The decrease resulted from decreases of $18.8 million, $1.6 million, and $1.5 million in broadcasting advertising, digital advertising, and political advertising, respectively. The decrease was partially offset by an enhance of $0.9 million in license fees and other revenue.
Content costs comprise of all costs related to the licensing, acquisition and development of our programming counting local and national talent costs and music license fees.
Content costs for the three months ended March 31, 2015 reduced $7.7 million, or 7.1%, to $100.8 million, contrast to $108.5 million for the three months ended March 31, 2014. This decrease was primarily attributable to our ongoing rationalization of operating costs and a decrease in expenses at WestwoodOne.
Cumulus Media Inc. owns and operates radio stations in the United States. It sells commercial advertising time to local, national, and network clients on its radio stations. The company owns and operates about 460 stations in 90 United States media markets; and about 8,500 broadcast radio associates and various digital channels.
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