On Thursday, Voltari Corporation (NASDAQ:VLTC)’s shares gained 5.20%, closed at $2.63.
Last Monday, Voltari Corporation, declared that it has closed its formerly declared offering of transferable subscription rights to purchase up to an aggregate of 4,300,000 shares of the Corporation’s ordinary stock, $0.001 par value per share. The Rights Offering was launched on February 27, 2015, to stockholders of record on February 3, 2015, and expired at 5:00 p.m., New York City time, on March 20, 2015.
The Rights Offering was fully subscribed and, as such, the Corporation issued 4,300,000 shares of its ordinary stock for total net proceeds of $4.6 million, after fees and expenses.
Voltari Corporation, together with its auxiliaries, provides relevance-driven merchandising, digital marketing, and advertising solutions, primarily over smartphones and other mobile devices to brands, marketers, and advertising agencies. It also offers predictive analytics services. The corporation was founded in 2001 and is headquartered in New York, New York.
Southwestern Energy Co. (NYSE:SWN)’s shares jumped 5.16%, and settled at $24.04, during the last trading session on Thursday.
Formerly on March 19, Southwestern Energy Co., has executed a definitive purchase and sale contract with Howard Midstream Energy Partners, LLC to sell Southwestern Energy’s gathering assets located in Bradford and Lycoming counties in northeastern Pennsylvania for $500 million. The assets comprise about 100 miles of natural gas gathering pipeline, with nearly 600 million cubic feet per day of capacity. The proceeds from the transaction will be used to substantially repay borrowings under Southwestern Energy’s $500 million term loan facility that matures in December 2016. The transaction is subject to customary closing conditions and is predictable to close in the second quarter of 2015.
“We are excited to have this deal in place as it represents a major step toward concluding our attainment financing plan that we formerly declared,” remarked Steve Mueller, Chairman and Chief Executive Officer of Southwestern Energy. “With this deal, we are well on our way to achieving the $600 million to $800 million in divestiture proceeds declared as part of that plan.”
Southwestern Energy Corporation, an independent energy corporation, engages in the exploration, development, and production of natural gas and oil in the United States. The corporation operates in two segments, Exploration, Development and Production; and Midstream Services.
At the end of Thursday’s trade, Dyax Corp. (NASDAQ:DYAX)’s shares climbed 5.05%, and closed at $27.05, hitting new 52-week high of $27.06, as a biopharmaceutical corporation, declared positive safety, pharmacokinetic, biomarker, and efficacy results from the Phase 1b clinical study of their investigational product, DX-2930. Discovered by Dyax, DX-2930 is a fully human monoclonal antibody inhibitor of plasma kallikrein being developed for the prevention of hereditary angioedema (HAE) attacks.
The ongoing Phase 1b study is a multi-center, randomized, double-blind, placebo-controlled, multiple-ascending dose study designed to assess the safety, tolerability and pharmacokinetics of DX-2930 in HAE patients. An analysis of HAE attack rate was also conducted following a pre-specified statistical analysis plan. A total of 37 subjects were randomized to active drug or placebo in a 2:1 ratio across 4 dosing groups of 30, 100, 300, or 400 mg. Each subject received two doses of DX-2930 or placebo, separated by 14 days, and was followed for 15 weeks after the second dose.
DX-2930 was well tolerated at all dose levels. There were no deaths or subject discontinuations due to an adverse event. There were no serious adverse events in subjects treated with DX-2930 and no evidence of dose-limiting toxicity. There was no safety signal in treatment-emergent adverse events, clinical laboratory results, vital signs, or electrocardiograms. Subcutaneous injection was well tolerated.
Pharmacokinetic results demonstrated that DX-2930 has linear, dose-dependent exposure and a mean elimination half-life of about 14 days across all dose groups studied. Pharmacodynamic results from two different exploratory biomarker assays confirmed ex vivo plasma kallikrein inhibition in a dose- and time-dependent manner.
Dyax Corp., a biopharmaceutical corporation, identifies, develops, and commercializes treatments for hereditary angioedema (HAE) and other plasma-kallikrein-mediated (PKM) disorders.
Raptor Pharmaceuticals Corp. (NASDAQ:RPTP), ended its Thursday’s trading session with 5.01% gain, and closed at $10.48, as a biopharmaceutical corporation, has priced an underwritten public offering of 9,500,000 shares of its ordinary stock at a price to the public of $9.00 per share. In addition, Raptor has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 1,425,000 shares of its ordinary stock at the public offering price, less the underwriting discounts and commissions. Gross proceeds before underwriting discounts and commissions and estimated expenses of the offering payable by the corporation are predictable to be about $85.5 million, or about $98.3 million if the underwriters exercise their option to purchase the additional shares in full. The offering is predictable to close on April 8, 2015, subject to customary closing conditions. All of the shares are being offered by the corporation.
Citigroup, Leerink Partners and Cowen and Corporation are acting as lead joint book-running managers for the offering. JMP Securities is acting as lead manager and Janney Montgomery Scott is acting as a co-manager for the offering.
Raptor Pharmaceutical Corp., a biopharmaceutical corporation, focuses on developing and commercializing life-altering therapeutics that treat debilitating and often fatal diseases. The corporation is engaged in multiple therapeutic areas such as nephropathic cystinosis, Huntington’s disease (HD), nonalcoholic steatohepatitis (NASH), and Leigh syndrome and other mitochondrial diseases.
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