On Wednesday, RCS Capital Corp (NYSE:RCAP)’s shares declined -10.92% to $8.89.
RCS Capital Corp (RCAP) declared that its wholesale broker-dealer auxiliaries, Realty Capital Securities, LLC, SC Distributors, LLC and The Hatteras Funds raised about $476.3 million of total equity capital in the month of March through 30 direct investment programs and registered investment companies, a raise of 45.7% from the $326.8 million raised in February 2015. Total equity raised during the first quarter of 2015 was $1.1 billion.
RCS Capital’s wholesale broker-dealer auxiliaries continue to exhibit strong fundamentals as a leading provider of alternative investment solutions, with March representing the fourth successive month of raised sales. Sales of non-traded direct investment programs were $433.5 million in March 2015, up 44.5% contrast to $300.1 million in February 2015.
RCS Capital Corporation engages in the independent retail advice, wholesale distribution, investment banking, capital markets, investment administration, and investment research businesses.
Gevo, Inc.(NASDAQ:GEVO)’s shares dropped -1.27% to $0.195.
Gevo, (GEVO) declared its financial results for the three months ended December 31, 2014 and offered an update on recent corporate highlights.
In the fourth quarter of 2014, Gevo continued to progress the commercial operation of isobutanol at Luverne under the Side-by-Side mode of production (SBS), meeting its stated milestone in December 2014 of producing greater than fifty thousand gallons of isobutanol in one month. This achievement was a result of the introduction of Gevo’s second-generation yeast biocatalyst at the plant, in addition to noteworthy process improvements learned by Gevo since switching the plant to SBS production earlier in 2014.
Gevo, Inc., a renewable chemicals and biofuels company, focuses on the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks. The company operates in two segments, Gevo, Inc.; and Gevo Development/Agri-Energy.
At the end of Wednesday’s trade, Ocwen Financial Corp (NYSE:OCN)‘s shares dipped -4.22% to $8.40.
Ocwen Financial Corp (OCN) stated a preliminary net loss of $(546.0) million, or $(4.18) per share, for the year ended December 31, 2014 contrast to net income of $310.4 million, or $2.13 per share, for the year ended December 31, 2013. Ocwen generated preliminary revenue of $2.1 billion, up 4% contrast to $2.0 billion in the preceding year. Preliminary income from operations was $76.1 million for the year ended December 31, 2014.
Preliminary pre-tax loss for 2014 was $(443.2) million, contrast to $352.5 million pre-tax income in 2013. Preliminary pre-tax income on a normalized basis for 2014 was $284.9 million, contrast to the $550.4 million normalized pre-tax income in 2013. During 2014, Ocwen incurred a total of $728.1 million in preliminary normalized expenses. Normalization items in 2014 comprise $420.2 million of goodwill impairment, $186.1 million of legal and settlement expenses primarily related to the settlement with the New York Department of Financial Services, $72.3 million for MSR-related fair value changes and $49.5 million of transition and other items.
Ocwen Financial Corporation, through its auxiliaries, is engaged in the servicing and origination of mortgage loans in the United States and internationally. The companys Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset administration services to owners of mortgage loans and foreclosed real estate.
Arrowhead Research Corp (NASDAQ:ARWR), ended its Wednesday’s trading session with -3.93% loss, and closed at $7.09.
Arrowhead Research Corp (ARWR) declared that the United States Food and Drug Administration (FDA) informed the Company that it can proceed with a multiple-dose Phase 2b clinical study of ARC-520, its clinical candidate for the treatment of chronic hepatitis B infection, under an investigational new drug (IND) application formerly filed with the FDA.
The clinical study, titled Heparc-2004, is a multicenter, randomized, double-blind, placebo-controlled, multi-dose study of ARC-520 administered intravenously to patients with chronic immune active HBV infection maintained on entecavir or tenofovir therapy. The study is planned to enroll up to 12 patients who will be randomized at a ratio of 2:1 with 8 patients receiving 1 mg/kg of ARC-520 and 4 patients receiving placebo. Each patient will receive 3 total doses, once every 4 weeks. Patients will be followed through Day 147.
Arrowhead Research Corporation develops novel drugs to treat intractable diseases in the United States. The company’s principal product candidates comprise ARC-520, an RNAi-based therapeutic that is in Phase IIa clinical trial to treat chronic hepatitis B virus infection; and ARC-AAT, a novel unlocked nucleobase analog containing RNAi-based therapeutic for the treatment of liver disease associated with alpha-1 antitrypsin deficiency.
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