Following U.S. Stocks were among the “Top Gainers” during Monday’s trade: Gaming and Leisure Properties Inc (NASDAQ:GLPI), ArQule, Inc (NASDAQ:ARQL), Cytori Therapeutics Inc (NASDAQ:CYTX), Whiting Petroleum Corp (NYSE:WLL)
Their insights are depicted underneath:
Gaming and Leisure Properties Inc (NASDAQ:GLPI)’s shares picked up 12.54%, and closed at $36.43.
According to GLOBE NEWSWIRE, Pinnacle Entertainment, Inc. (PNK) confirmed that its Board of Directors has received an unsolicited proposal from Gaming and Leisure Properties, Inc (GLPI), to attain Pinnacle’s real estate assets for GLPI shares as part of a taxable separation transaction.
Pinnacle’s Board of Directors and administration team are committed to acting in the best interests of all Pinnacle shareholders. Consistent with its fiduciary duties, Pinnacle’s Board, in consultation with its independent financial and legal advisors, will carefully review and evaluate GLPI’s proposal to determine the course of action that it believes is in the best interest of the Corporation and its shareholders.
PropCo comprises real estate properties counting casino facilities and other assets. Gaming and Leisure Properties, Inc (NASDAQ:GLPI) operates independently of Penn National Gaming Inc. as of November 01, 2013.
ArQule, Inc (NASDAQ:ARQL), raised 12.33%, and closed at $2.46, hitting new 52-week high of $2.50.
Through BUSINESS WIRE, ArQule Inc. (ARQL), declared its financial results for the year and the fourth quarter ended December 31, 2014.
The Corporation stated a net loss of $23,391,000 or $0.37 per share, for the year ended December 31, 2014, contrast with a net loss of $24,600,000 or $0.39 per share, for the year ended December 31, 2013. For the quarter ended December 31, 2014, the Corporation stated a net loss of $3,512,000 or $0.06 per share, contrast with net loss of $5,956,000 or $0.10 per share, for the quarter ended December 31, 2013.
At December 31, 2014, the Corporation had a total of about $61,266,000 in cash and marketable securities.
Proceeds and Expenses:
Proceeds for the year ended December 31, 2014 were $11,254,000 contrast with proceeds of $15,914,000 for the year ended December 31, 2013. For the quarter ended December 31, 2014, proceeds were $3,015,000, contrast with proceeds of $2,275,000 for the quarter ended December 31, 2013.
The $4.6 million proceed decrease in 2014 was primarily due to proceed decreases of $2.2 million from our Daiichi Sankyo tivantinib program due a change in the estimated development period, $1.2 million from our Daiichi Sankyo ARQ 092 contract that ended in June 2013 and $1.7 million of other proceed from a one-time research project that was accomplished 2013. These decreases were partially offset by lower contra-proceed of $0.5 million.
Fiscal 2014 research and development expenses were $22,271,000, contrast with $27,555,000 for fiscal 2013. Fourth quarter 2014 research and development expenses were $4,290,000, contrast with $5,337,000 for the fourth quarter 2013.
The $5.3 million decrease in research and development expense in 2014 was primarily due to lower labor related costs of $4.2 million from July 2013 and August 2014 restructurings and reduced lab expenses of $1.0 million. Other cost reductions in 2014 of $0.9 million were partially offset by a $0.8 million raise in outsourced clinical and product development costs. The decrease in research and development expense in the fourth quarter of 2014 was primarily due to lower labor related and other cost reductions from our August 2014 restructuring.
General and administrative expenses for fiscal 2014 were $12,154,000, contrast to $12,836,000 for fiscal 2013. Fourth quarter 2014 general and administrative costs were $2,836,000, contrast with $3,125,000 for the fourth quarter 2013. The decrease in general and administrative expense in 2014 was primarily due to lower labor related costs from restructurings taking place in July 2013 and August 2014. The decrease in general and administrative expense in the fourth quarter of 2014 was primarily due to lower professional fees.
ArQule is a biotechnology corporation engaged in the research and development of next-generation, small-molecule cancer therapeutics. The Corporation’s targeted, broad-spectrum products and research programs are focused on key biological processes that are central to human cancers. ArQule’s lead product, in Phase 2 and Phase 3 clinical development, is tivantinib (ARQ 197), an oral, selective inhibitor of the c-MET receptor tyrosine kinase.
Cytori Therapeutics Inc (NASDAQ:CYTX), enhanced 11.71%, and closed at $1.24.
Through BUSINESS WIRE, Cytori Therapeutics, Inc. (CYTX), declared that Dr. Marc H. Hedrick, President and CEO of Cytori Therapeutics, will present at the 27th Annual ROTH Conference in Laguna Niguel, California, March 8-11, 2015. Cytori’s presentation is planned to start March 10th at 11:00 AM, Pacific Time, in Track 6, Salon 6.
Cytori Therapeutics is a late stage cell therapy corporation developing autologous cell therapies from adipose tissue to treat a variety of medical conditions. Data from preclinical studies and clinical trials suggest that Cytori Cell Therapy™ acts principally by improving blood flow, modulating the immune system, and facilitating wound repair.
Whiting Petroleum Corp (NYSE:WLL) rose 10.81%, and closed at $37.71.
Through BUSINESS WIRE, Whiting Petroleum Corp. (WLL), declared the results of its offer to purchase for 101% of par, plus accrued and unpaid interest to the payment date (the “offer”), all of the following notes originally issued by Kodiak Oil & Gas Corp. (“Kodiak”): $800.0 million aggregate principal amount of 8.125% Senior Notes Due 2019 (the “2019 Notes”), $350.0 million aggregate principal amount of 5.500% Senior Notes Due 2021 (the “2021 Notes”) and $400.0 million aggregate principal amount of 5.500% Senior Notes Due 2022 (the “2022 Notes”). Whiting was required to make the offer as a result of its attainment of Kodiak on December 8, 2014.
Whiting has been advised by U.S. Bank National Association, the paying agent for the offer, that, as of 5:00 p.m., New York City time, on March 4, 2015, the withdrawal deadline for the offer, holders of $2.5 million of the aggregate principal amount of the 2019 Notes, $346.1 million of the aggregate principal amount of the 2021 Notes and $399.4 million of the aggregate principal amount of the 2022 Notes had been validly tendered (and not properly withdrawn) following the terms of the offer. The payment date for the offer will be March 6, 2015. Whiting plans to fund the amounts due as a result of the offer with borrowings under its revolving credit facility.
Whiting Petroleum Corporation, a Delaware corporation, is an independent oil and gas corporation that explores for, develops, attains and produces crude oil, natural gas and natural gas liquids primarily in the Rocky Mountain and Permian Basin regions of the United States.
