On Monday, in the course of current trade, Shares of Isis Pharmaceuticals, Inc. (NASDAQ:ISIS), surged 5.41%, and is now trading at $61.39.
Today, Isis Pharmaceuticals has reached an exclusive license agreement with Bayer HealthCare (Bayer) to develop and commercialize ISIS-FXIRx for the prevention of thrombosis. Under the terms of the agreement, Isis is eligible to receive up to $155 million in near-term payments, counting an immediate $100 million up-front payment and a $55 million payment upon advancement of the program following a Phase 2 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 in the low to high twenty percent range 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.
As part of the clinical development program, Bayer plans to evaluate the therapeutic profile of ISIS-FXIRx in patients for whom presently accessible anticoagulants may not be used, such as in patients with a high risk of bleeding due to multiple co-morbidities.
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.
During Morning trade, Shares of The Walt Disney Company (NYSE:DIS), gained 0.71%, and is now trading at $111.30.
The Walt Disney Company, declared Time Change for fiscal Second Quarter 2015 Earnings Release and Conference Call.
The company is deeply saddened by the passing of David Goldberg. In order to attend the funeral, the company has adjusted the time of its second quarter 2015 earnings release and conference call. The company will now release its financial results on Tuesday, May 5, 2015 at about 8:00 a.m. EDT / 5:00 a.m. PDT, and its conference call will be held at 9:30 a.m. EDT / 6:30 a.m. PDT via live audio webcast.
The Walt Disney Company, together with its auxiliaries, operates as an entertainment company worldwide. The company operates in five segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products, and Interactive.
Shares of MGM Resorts International (NYSE:MGM), during its Monday’s current trading session fell -2.48%, and is now trading at $20.87.
Today, MGM Resorts International, stated financial results for the quarter ended March 31, 2015.
Key results for the first quarter of 2015 comprise the following:
- Net revenue at the Company’s wholly owned domestic resorts was $1.6 billion, an enhance of half a percent contrast to the preceding year quarter;
- Slots revenue at wholly owned domestic resorts raised 5% contrast to the preceding year quarter;
- Rooms revenue at wholly owned domestic resorts raised 2% with a 1% enhance in REVPAR(1)at the Company’s Las Vegas Strip resorts contrast to the preceding year quarter;
- The Company’s wholly owned domestic resorts earned Adjusted Property EBITDA(2) of $390 million, a 3% decrease contrast to the preceding year quarter, partially due to a decrease in table games hold percentage;
- MGM China’s net revenue was $630 million and Adjusted EBITDA was $148 million, a decrease of 33% and 38% contrast to the preceding year quarter, respectively; and
- CityCenter earned Adjusted EBITDA related to resort operations of $82 million, a 14% decrease contrast to the preceding year quarter, due primarily to a decrease in table games revenues.
MGM Resorts International, through its auxiliaries, owns and/or operates casino resorts. It operates through two segments, Wholly Owned Domestic Resorts and MGM China. The company’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
Finally, MEI Pharma, Inc. (NASDAQ:MEIP), gained 3.99% Monday.
Today, MEI Pharma declared new pre-clinical data showing mitochondria-specific effects of the Company’s investigational drug candidate ME-344 in cancer cells, counting significantly improved anti-tumor activity when combined with a tyrosine-kinase inhibitor (TKI). In addition, a recently published study found ME-344 to be a potent inhibitor of mitochondrial oxidative phosphorylation (OXPHOS) complex I, a direct molecular target.
MEI Pharma, Inc., an oncology company, focuses on the clinical development of novel therapies for the treatment of cancer. The company’s lead drug candidate is Pracinostat, an orally accessible histone deacetylase inhibitor, which is in Phase II clinical trial for the treatment of hematologic diseases, such as myelodysplastic syndrome and acute myeloid leukemia.
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