On Thursday, SAGE Therapeutics Inc (NASDAQ:SAGE)’s shares declined -2.61% to $53.34.
SAGE Therapeutics (SAGE) declared results from a successful exploratory clinical trial of SAGE-547 to evaluate the GABAA mechanism of action as a treatment for essential tremor, a debilitating neurological disorder that causes involuntary, rhythmic shaking with no known cause that is estimated to affect more than 10 million people in the United States.
In a randomized, double-blind, placebo-controlled, crossover trial of 25 patients affected by essential tremor, where patients were exposed to the target steady state dose for only two hours, several clinician-rated and accelerometer-rated measures showed noteworthy reductions in tremor. These changes comprised of a noteworthy reduction in accelerometer-measured upper limb kinetic tremor (p=0.046) which is one of the major manifestations of tremor impacting morbidity. Overall clinician ratings of large tremor motions, in addition to smaller movements such as writing and spiral drawing, also showed improvement (p=0.056). In addition, SAGE-547 demonstrated a clinically meaningful reduction of tremor amplitude as measured by accelerometer (at least a 30% reduction from baseline) in 33% of patients, contrast with 16% of patients in the placebo arm.
Sage Therapeutics, Inc., a biopharmaceutical company, develops and commercializes novel medicines to treat life-threatening and rare central nervous system disorders. The company’s lead product candidate comprises SAGE-547, an intravenous (IV) agent that is in Phase I/II clinical development as an adjunctive therapy for the treatment of super-refractory status epilepticus (SRSE). Its pipeline also comprises second-generation molecules, such as SAGE-217, an oral therapy for orphan genetic epilepsies; and SAGE-689, an adjunctive intravenous second-line therapy for the treatment of refractory status epilepticus. The company was formerly known as Sterogen Biopharma, Inc. and changed its name to Sage Therapeutics, Inc. in September 2011. Sage Therapeutics, Inc. was founded in 2010 and is based in Cambridge, Massachusetts.
RAIT Financial Trust (NYSE:RAS)’s shares gained 2.47% to $5.39.
RAIT Financial Trust (RAS) (the “Company”) declared recently that it has priced an underwritten public offering of 8,000,000 common shares at a public offering price of $5.55 per share. The Company has granted the underwriters a 30-day option to purchase up to 1,200,000 additional common shares.
Barclays Capital Inc. and UBS Securities LLC are acting as the joint book-running managers of the offering. JMP Securities LLC, Compass Point Research & Trading, LLC and Ladenburg Thalmann & Co. Inc. are acting as co-managers for the offering.
The Company intends to use the net proceeds of the offering to make investments regarding its business and for general trust purposes.
RAIT Financial Trust operates as a self-managed and self-advised real estate investment trust (REIT). The company, through its auxiliaries, invests in, manages, and services real estate-related assets with a focus on commercial real estate. It also offers a set of debt financing options to the commercial real estate industry together with fixed income trading and advisory services.
At the end of Thursday’s trade, Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE)‘s shares surged 3.75% to $0.747.
Yingli Green Energy Holding Company Limited (“Yingli” or “Yingli Solar”) (YGE), one of the world’s leading solar panel manufacturers, recently declared that it has received a notice on August 13, 2015 from the New York Stock Exchange (the “NYSE”) that the Company was not in compliance with the NYSE’s price criteria for continued listing standard because, as of August 12, 2015, the average closing price of the Company’s American Depositary Shares, or ADSs, was less than $1.00 per ADS over a successive 30 trading-day period.
Following Section 802.01C of the NYSE’s Listed Company Manual, the Company has six months (“the Cure Period”) following receipt of the notice to regain compliance with the minimum share price requirement. The Company can regain compliance during the Cure Period if the Company’s ADSs have a closing share price of at least $1.00 per ADS on the last trading day of any calendar month during the period and also have an average closing price of at least $1.00 per ADS over the 30 trading-day period ending on the last trading day of that month. The Company can also regain compliance if at the expiration of the six-month Cure Period, both a $1.00 or above closing price per ADS on the last trading day of the Cure Period and a $1.00 or above average closing price per ADS over the 30 trading-day period ending on the last trading day of the Cure Period are attained.
Yingli Green Energy Holding Company Limited, together with its auxiliaries, designs, develops, markets, manufactures, sells, and installs photovoltaic (PV) products in the People’s Republic of China and internationally. The company offers polysilicon ingots and blocks, polysilicon wafers, PV cells, PV modules, and integrated PV systems; and develops and operates solar projects.
Hormel Foods Corp (NYSE:HRL), ended its Thursday’s trading session with 0.89% gain, and closed at $61.18.
Hormel Foods Corp (HRL) declared that Jeffrey M. Ettinger, chairman of the board, president and chief executive officer, and Glenn R. Leitch, group vice president; president, Jennie-O Turkey Store, Inc., will present at 10:30 a.m. ET on Thursday, Sept. 10, 2015, during the Barclays Global Consumer Staples Conference in Boston, Mass. The company invites interested parties to listen to the presentation live via the Internet.
Hormel Foods Corporation produces and markets various meat and food products worldwide. The company operates in five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It provides various perishable meat products, counting fresh meats, frozen items, refrigerated meal solutions, sausages, hams, wieners, and bacon; and shelf-stable products comprising canned luncheon meats, shelf-stable microwaveable meals, stews, chilies, hash, meat spreads, flour and corn tortillas, salsas, tortilla chips, peanut butter, and other products.
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