On Friday, E*TRADE Financial Corp (NASDAQ:ETFC)’s shares declined -0.11% to $30.72.
E*TRADE Financial Corp (ETFC) stated a fall in its Daily Average Revenue Trades (DARTs) for May 2015. According to the monthly market activity report for May, E*TRADE’s DARTs totaled 151,444, down 4% from the prior month and up 3% on a year-over-year basis.
Broker performance is generally measured through DARTs that represent the number of trades from which brokers can expect commissions or fees. The fall in DARTs largely reflects investors’ unwillingness to invest in equity markets.
At the end of the month under review, E*TRADE had about 4.8 million accounts – 3.2 million brokerage accounts, 1.3 million stock plan accounts and 0.3 million banking accounts.
For the stated month, E*TRADE’s total brokerage accounts comprised of 27,865 gross new brokerage accounts. Moreover, the company’s net new brokerage assets totaled $1.0 billion contrast with negative $0.4 billion recorded in the prior month. Total brokerage accounts reflect the company’s ability to attract and retain customers who trade and invest.
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand name. It operates through two segments, Trading and Investing, and Balance Sheet Administration.
Energy XXI Ltd (NASDAQ:EXXI)’s shares dropped -2.96% to $2.95.
Energy XXI (EXXI) declared it has executed a purchase and sale agreement to monetize the Grand Isle Gathering System (GIGS) to CorEnergy Infrastructure Trust, Inc. (CorEnergy) for $245 million in cash plus the assumption of abandonment liabilities related to the assets. Conpresently with the sale, Energy XXI will enter into an operating lease agreement whereby it will continue to have access to and operate the pipeline assets, which comprise of gathering and transportation pipelines in the shallow waters of the Gulf of Mexico, in addition to the Grand Isle terminal located onshore adjacent to Energy XXI’s shore base operations. Under the terms of the lease agreement, Energy XXI will retain any revenues generated from transporting third party volumes. The transaction is predictable to close prior to June 30, 2015, taking current liquidity to nearly $1 billion.
Energy XXI (Bermuda) Limited is engaged in the acquisition, exploration, development, production, and operation of oil and natural gas properties onshore in Louisiana and Texas, and on the Gulf of Mexico. As of June 30, 2014, the company had proved reserves of 246.2 million barrels of oil equivalent.
At the end of Friday’s trade, Kite Pharma Inc (NASDAQ:KITE)‘s shares dipped -1.40% to $60.45.
Kite Pharma, Inc. (KITE) and bluebird bio, Inc. (BLUE) declared that they have reached a joint venture agreement to co-develop and co-commercialize second generation T cell receptor (TCR) product candidates directed against the human papillomavirus type 16 E6 (HPV-16 E6) oncoprotein incorporating gene editing and lentiviral technologies. bluebird bio has a platform comprised of lentiviral gene delivery and gene editing capabilities, with a focus on rare diseases and cancer immunotherapy’s. Kite has a broad existing pipeline of TCR product candidates and will continue to develop its existing and wholly-owned TCR programs directed against high-risk HPV, which are unaffected by this collaboration, counting HPV-16 E6 TCR, presently in a Phase I study, and HPV-16 E7 TCR. The partnership brings together the powerful technologies and capabilities of these two leading immunotherapy companies.
Under the terms of the agreement, both companies will jointly develop and commercialize second generation TCR product candidates directed against the HPV-16 E6 oncoprotein, incorporating gene editing to efficiently modify certain genes to enhance T cell function. In addition, the companies will explore using lentiviral vectors to optimize delivery of HPV-16 E6 TCRs into patient T cells.
Kite will lead the program in the U.S., and bluebird bio will have the option to lead the program in the European Union. Both companies will share overall costs, counting research and development and sales and marketing expenses, and profits will be equally split between the companies. Additionally, Kite will have a co-promotion option in the European Union, and bluebird will have a co-promotion option in the U.S.
Kite Pharma, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel cancer immunotherapy products. The company is developing a pipeline of engineered autologous cell therapy-based product candidates for the treatment of solid and hematological malignancies. Its lead product candidate is KTE-C19, a chimeric antigen receptors (CAR)-based therapy that is in Phase 1-2a clinical trials for the treatment of patients with refractory diffuse large B cell lymphoma. The company is also developing T cell receptors-based therapies, which targets SSX2, NY-ESO-1, and MAGE antigens in various cancers.
Foamix Pharmaceuticals Ltd (NASDAQ:FOMX), ended its Friday’s trading session with -4.07% loss, and closed at $11.30.
Merz North America, Inc. and Foamix Pharmaceuticals Ltd. (FOMX), declared that the first milestone payment related to their unique foam technology development program has been made to Foamix.
This recent milestone payment is part of an ongoing partnership to develop and commercialize an innovative medicated topical foam. Under the agreement, which was signed in July 2013, Merz receives an exclusive worldwide license for the global development and commercialization of a foam product. Foamix will be further entitled to royalties and additional milestone payments under certain conditions.
Foamix Pharmaceuticals Ltd., a clinical-stage specialty pharmaceutical company, develops and commercializes foam-based formulations for the treatment of acne, impetigo, and other skin conditions in the United States, Germany, and Israel. Its lead product candidates comprise FMX101, a novel topical foam formulation which has accomplished a dose-ranging Phase II clinical trial for the treatment of moderate-to-severe acne; and FMX102 that has accomplished a Phase II clinical trial for the treatment of impetigo caused by methicillin-resistant staphylococcus aureus.
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