Egalet to Raise Funds Via Sale of Shares and Warrants

Egalet to Raise Funds Via Sale of Shares and Warrants

Egalet, a pharmaceutical company, said on Wednesday it is planning to raise funds to market its drugs including morphine sulfate and nasal spray, through the sale of shares and warrants. The drugmaker said the offering is subject to market conditions, with underwriters granted to sell up to 15% additional shares and warrants of securities sold in the offering. Cantor Fitzgerald is the book-runner.

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Asian ADRs Slightly Lower in Trade

Asian ADRs Slightly Lower in Trade

American depository receipts of Asian stocks were trading 0.25% lower at 160.34 on the Bank of New York Mellon Asia ADR Index on Thursday. In North Asia, the gainers were led by semiconductor foundry United Microelectronics (UMC), and Jumei (JMEI), an online retailer of beauty products, which rose 2.2% and 1.8% respectively. They were followed by Autohome (ATHM), an online destination for automobile consumers in China, and media company Phoenix […]

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Minerva Neurosciences Completes Bridging Study

Minerva Neurosciences Completes Bridging Study

Minerva Neurosciences, Inc has concluded a bridging trial to select an improved, gastric-resistant formulation of MIN-101, the company said pre-market Thursday. MIN-101 is a drug candidate designed to improve negative symptoms and cognitive impairment in schizophrenia. The company says it plans to use the selected formulation in its upcoming phase 3 clinical trial, which remains on schedule for initiation in H2, as well as for the potential future submission of […]

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Banc of California Interim CFO Resigns

Banc of California Interim CFO Resigns

Banc of California said Francisco Turner has resigned as interim chief financial officer to pursue other interests. He will receive a lump sum payment of nearly $2.8 million from the company as part of a separation agreement. Chief Accounting Officer Albert Wang will assume the role of principal financial officer as the company continues its search for a permanent CFO with the assistance of Korn Ferry. Wang has been chief […]

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Western Digital’s CEO Travelling to Japan Next Week

Western Digital’s CEO Travelling to Japan Next Week

Western Digital (WDC) CEO Steve Milligan will travel next week to Tokyo next week to meet with Toshiba President Satoshi Tsunakawa to hatch a plan to make shareholders more accepting of a buyout of Toshiba’s chip business by Western Digital, according to reports. The two companies have been in a bitter fight over Toshiba’s chip business, whose main plant in western Japan is jointly operated with Western Digital. Toshiba wants […]

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Energy Stocks Jumping Out to Big Gains in Market Surge

Energy Stocks Jumping Out to Big Gains in Market Surge

Energy stocks were sharply higher, with the NYSE Energy Sector Index climbing over 1.9% while shares of energy companies in the S&P 500 were up nearly 2.2% as a group. Crude oil for April delivery was down 10 cents at $53.91 per barrel while April natural gas futures were a penny higher at $2.79 per 1 million BTU. In company news, Kinder Morgan (KMI) was trending higher in mid-day trading […]

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European Equity Benchmarks Surge Higher

European Equity Benchmarks Surge Higher

The broad-based major European indices closed sharply higher in Wednesday’s trading session, as banks, automotive stocks, and construction materials suppliers helped the markets surge as high as 2%. In economic news, the inflation rate in Germany, as measured by the consumer price index, is expected to be 2.2% in February, according to the Federal Statistical Office (Destatis) 2017. It was the highest rate of inflation since August 2012. Destatis also […]

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