Following U.S. Stocks were among the “Top Gainers” during Friday’s trade: CorMedix Inc (NYSEMKT:CRMD), Kythera Biopharmaceuticals Inc (NASDAQ:KYTH), Cash America International Inc (NYSE:CSH), AVEO Pharmaceuticals, Inc (NASDAQ:AVEO)
Their insights are depicted underneath:
CorMedix Inc (NYSEMKT:CRMD)’s shares picked up 6.31%, and closed at $8.25, hitting new 52-week high of $8.38.
According to PRNewswire, CorMedix, Inc. (CRMD), a pharmaceutical corporation focused on developing and commercializing therapeutic products for the prevention and treatment of cardiac, renal and infectious diseases, declared several planned business updates.
CorMedix Engages Evercore as Financial Advisor to Explore Planned Alternatives:
CorMedix declared that it has retained investment bank Evercore as financial advisor to explore planned alternatives, in order to accelerate the global development of Neutrolin® Catheter Lock Solution and maximize shareholder value.
“Based on our ongoing belief in the value and clinical potential of Neutrolin® as an important product to address a noteworthy medical need, the CorMedix Board and administration has retained Evercore to evaluate and identify planned alternatives aimed to accelerate the product’s global development and commercialization,” said Randy Milby, CorMedix Chief Executive Officer. “We believe Evercore’s premier reputation, track record, and industry expertise will assist us to maximize the value of Neutrolin® more efficiently.”
Neutrolin® is a novel formulation of taurolidine, citrate and heparin 1000 u/ml that provides a combination preventative solution, decreases the triple threat of infection, thrombosis and biofilm to keep catheters operating safely and efficiently by optimizing catheter blood flow while minimizing infections and biofilm formation for oncology, hemodialysis, and intensive care patients. Neutrolin® has CE mark approval for use in the European Union and was recently approved to enter a Phase 3 program in the United States. The U.S. Food and Drug Administration (FDA) has designated Neutrolin®, as a Qualified Infectious Disease Product (QIDP), which provides an additional five years of market exclusivity in addition to the five years granted for a New Chemical Entity under Hatch-Waxman patent exclusivity.
CorMedix Inc. is a commercial-stage pharmaceutical corporation that seeks to in-license, develop and commercialize therapeutic products for the prevention and treatment of cardiac, renal and infectious diseases. CorMedix’s first commercial product in Europe is Neutrolin®, a catheter lock solution for the prevention of catheter related bloodstream infections and maintenance of catheter patency in tunneled, cuffed, central venous catheters used for vascular access in hemodialysis patients, in addition to oncology patients, critical care patients counting neonates, and patients receiving total parenteral nutrition, IV hydration, and/or IV medications.
Kythera Biopharmaceuticals Inc (NASDAQ:KYTH), raised 6.26%, and closed at $53.13, hitting new 52-week high of $53.68.
According to GLOBE NEWSWIRE, Kythera Biopharmaceuticals, Inc. (KYTH), declared that the Compensation Committee of the Corporation’s Board of Directors granted eleven new employees options to purchase an aggregate of 79,200 shares of the Corporation’s ordinary stock. The exercise prices were $41.55 for the February 27 option grants and $39.90 for the March 4 option grants, each of which was the closing trading price on the date of each grant. The stock options were granted following the Corporation’s 2014 Employment Commencement Incentive Plan, which was approved by the Corporation’s Board of Directors in August 2014 under Rule 5653(c)(4) of The NASDAQ Global Select Market for equity grants to induce new employees to enter into employment with the Corporation.
KYTHERA Biopharmaceuticals, Inc. is a clinical-stage biopharmaceutical corporation focused on the discovery, development and commercialization of novel prescription products for the aesthetic medicine market.
Cash America International Inc (NYSE:CSH), enhanced 5.65%, and closed at $23.20.
According to PRNewswire, In response to inquiries from Cash America International, Inc. (CSH), shareholders and various market participants, SAF Capital Administration LLC released its letter delivered to Cash America’s Board of Directors on January 27th, 2015.
Believes the restructured Cash America, with its leading market position, steady free cash flows, underleveraged capital structure and de-risked operating model is drastically undervalued on a cash-flow, asset value, replacement value or private ownership basis.
- Based on discussions with various market participants, believes there are multiple parties interested in acquiring Cash America in a “take-private” transaction, however, maintains its view that the Corporation can generate higher returns for shareholders via an aggressive public recapitalization.
- Appreciates the constructive dialogue and subsequent adjustments made to Cash America’s stated capital allocation policy, however, believes— based on analysis of Cash America equity and debt trading activity— the Corporation is not sufficiently taking advantage of the current fleeting opportunity to create shareholder value via open market share repurchases.
- Holds a noteworthy ownership stake in Cash America, while hedging remaining regulatory and industry-specific exposure via direct and derivative positions in industry peers.
Cash America International, Inc. provides specialty financial services to individuals through retail services locations. The corporation offers pawn loans, consumer loans, check cashing, and other ancillary products and services, such as money orders, wire transfers, prepaid debit cards, tax filing services, and auto insurance, in addition to is involved in the purchase and sale of merchandise, primarily through third-party vendors.
AVEO Pharmaceuticals, Inc (NASDAQ:AVEO), rose 5.63%, and closed at $1.50, hitting new 52-week high of $2.02.
AVEO Pharmaceuticals, Inc. (AVEO), stated financial results for the full year ended December 31, 2014.
Recent Highlights:
- Named Michael P. Bailey as President and Chief Executive Officer – In January 2015, AVEO declared that its board of directors designated Michael P. Bailey as the Corporation’s president and chief executive officer and has elected Mr. Bailey as a director. Mr. Bailey succeeds Tuan Ha-Ngoc, who was named chairman of AVEO’s board of directors.
- Declared Corporate Restructuring – In January 2015, AVEO declared the elimination of its internal research function, as well as certain corporate support positions, to align resources with the Corporation’s future planned plans, focusing on advancement of its pipeline in the clinical setting and reducing corporate expenses. AVEO anticipates that the related severance and outplacement charges of about $4.5 million incurred in connection with the restructuring will be comprised of in its results of operations for the first quarter of 2015. The reduction in force is predictable to reduce compensation expenses annually by about $6 million and will further reduce AVEO’s facilities requirements, by more than 80% of its current space, counting the elimination of lab and vivarium needs. The Corporation declared recently that it will exit its current facility by the end of May 2015.
- Named Michael N. Needle, M.D. as Chief Medical Officer – In January 2015, AVEO declared the appointment of Michael N. Needle, M.D., to the position of chief medical officer. In this role, Dr. Needle, a board certified hematologist/oncologist, will take a leadership role in evaluating and implementing clinical development strategies for advancement of the Corporation’s proprietary and partnered clinical-stage programs.
AVEO Oncology (AVEO) is a biopharmaceutical corporation committed to developing targeted therapies through biomarker-driven insights to provide improvements in patient outcomes where noteworthy unmet medical needs exist.
