On Monday, Eleven Biotherapeutics Inc (NASDAQ:EBIO)’s shares declined -69.17% to $3.69.
Eleven Biotherapeutics Inc (EBIO) declared top-line results from the OASIS study, the company’s first pivotal Phase 3 study of its lead drug candidate, EBI-005, in moderate to severe dry eye disease. The co-primary endpoints of the Phase 3 study were the total corneal fluoresce in staining score and the patient-stated measurement related to ocular pain and discomfort based on the ocular surface disease index (OSDI), comparing the mean change from baseline at week 12 for treatment with EBI-005 to treatment with vehicle control. In this study, EBI-005 did not meet either of these two co-primary endpoints.
There was no statistically noteworthy difference between the EBI-005 treated group and the vehicle control group on the co-primary endpoints or any secondary endpoints. Patients with dry eye disease in both the EBI-005 and vehicle treatment groups showed statistically noteworthy improvement from baseline on the co-primary endpoints. While the change from baseline on the co-primary endpoints was greater in the vehicle group than the EBI-005 group, the differences between the two groups were not statistically significant and the company believes the differences were not clinically meaningful. EBI-005 was generally well tolerated in the Phase 3 study with fewer than 5% of patients reporting eye irritation and no treatment related serious adverse events. About 13% of patients in the study stated some use of artificial tears, with no difference in artificial tear use between the EBI-005 treated and vehicle control groups. Overall, 92% of patients accomplished the study, with 33 patients having dropped out of the EBI-005 group and 20 patients having dropped out of the vehicle control group.
Eleven Biotherapeutics, Inc., a clinical-stage biopharmaceutical company, engages in the discovery and development of protein therapeutics to treat eye diseases primarily in the United States.
Fifth Street Asset Management Inc (NASDAQ:FSAM)’s shares dropped -17.06% to $8.75.
Fifth Street Asset Management Inc (FSAM) declared that its associate, Fifth Street Administration LLC, served as Administrative Agent and Lead Arranger for a $171 million one-stop financing facility to support LegalZoom.com, Inc. (“LegalZoom”). LegalZoom is the nation’s leading provider of quality online legal solutions for families and small businesses. The financing facility, which comprises of a first lien term loan and a revolving credit facility, comprises investments from Fifth Street Finance Corp. (FSC) and Fifth Street Senior Floating Rate Corp. (FSFR). The terms comprise the ability to access an additional $75 million over and above the $171 million to fund future acquisitions.
A company backed by the Permira funds became LegalZoom’s largest shareholder in February 2014 through an investment of more than $200 million. Permira is a global private equity firm that advises funds with about EURO25 billion in total committed capital, specializing in five key sectors: Consumer, Financial Services, Healthcare, Industrials and Technology. LegalZoom represents the Fifth Street platform’s fifth financing in support of a Permira funds-owned company and the fourth in the last twelve months alone. Particularly of note during this time, Fifth Street offered a $110 million one-stop financing facility in connection with the acquisition of software company Metalogix H&S Holdings, Ltd. in December.
Fifth Street Asset Administration Inc. is an asset administration holding company. The firm provides asset administration services through its auxiliaries. Fifth Street Asset Administration Inc. was founded in 1998 and is headquartered in Greenwich, Connecticut.
At the end of Monday’s trade, Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE)‘s shares dipped -12.35% to $1.49.
Yingli Green Energy Hold. Co. Ltd. (ADR) (YGE) declared that its U.S.-based partner, Yingli Green Energy Americas (“Yingli Americas”), has reached a solar panel supply agreement with San Diego-based Borrego Solar Systems Inc. (“Borrego Solar”). Under the terms of the agreement, Yingli Americas anticipates to supply Borrego Solar with up to 40 megawatts (MW) of solar panels in 2015. Borrego Solar plans to install Yingli’s high-performing multicrystalline panels in commercial and utility solar projects across the United States.
Since the two companies reached their first supply agreement in 2008, Borrego Solar has installed 114 MW of Yingli Solar panels. Last year, Borrego Solar accomplished several high-profile solar energy systems using Yingli panels, counting the Anaheim Convention Center project (Anaheim, Calif., 2.4 MW dc); the First Wind Warren projects (Warren, Mass., 17.0 MW dc); and the Seneca project (Victorville, Calif., 8.3 MW dc).
Yingli Green Energy Holding Company Limited, together with its auxiliaries, designs, develops, manufacture, markets, sells, and installs photovoltaic products in the Peoples Republic of China. It offers PV cells, PV modules, and integrated PV systems; and polysilicon ingots and blocks, and polysilicon wafers, in addition to develops and operates solar projects.
Lucas Energy, Inc. (NYSEMKT:LEI), ended its Monday’s trading session with -8.77% loss, and closed at $0.178.
Lucas Energy, Inc. (LEI) declared that on May 11, 2015, the non-binding letter of intent (the “Letter of Intent”) formerly reached between Victory Energy Corporation (“Victory”) and Lucas was terminated. The Letter of Intent offered that either party could terminate the agreement by written notification to the other party for any reason. As formerly revealed, the Letter of Intent contemplated the combination of the businesses of the Company and Victory by way of a merger (the “Projected Business Combination”). In conjunction with the termination and following the Pre-Merger Loan and Funding Agreement between the Company and Victory dated February 26, 2015 (the “Loa contract”), Victory will not extend further credit to Lucas. We and Victory are presently in the process of negotiating a mutually agreeable un
Lucas Energy, Inc. operates as an independent oil and gas company in Texas. It is engaged in the acquisition and development of crude oil and natural gas from various formations, counting the Austin Chalk, Eagle Ford, and Buda formations located primarily in Gonzales, Wilson, Karnes, and Atascosa counties south of the city of San Antonio; and the Eaglebine, Buda, and Glen Rose formations located in Leon and Madison counties north of the city of Houston, Texas.
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