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Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) has a license agreement with Eleison Pharmaceuticals, Inc. to develop and commercialize glufosfamide for the treatment of cancer in humans and animals. Threshold Pharmaceuticals, a biotechnology company, engages in the discovery and development of drugs targeting the microenvironment of solid tumors for patients living with cancer.
Threshold Pharmaceuticals recently announced that a global agreement was signed with Merck KGaA, Darmstadt, Germany, to co-develop and commercialize TH-302, Threshold Pharmaceuticals’ small molecule hypoxia-targeted drug. TH-302 is currently being investigated in a global Phase 3 clinical trial in patients with soft tissue sarcoma, a randomized Phase 2 trial in patients with advanced pancreatic cancer from which top-line results are expected in February, as well as additional clinical studies in other solid tumors and hematological malignancies.
Under the terms of the agreement, Merck will receive co-development rights, exclusive global commercialization rights and will provide Threshold Pharmaceuticals an option to co-commercialize the therapeutic in the United States. In exchange, Threshold Pharmaceuticals will receive an upfront payment of $25 million and could receive up to $35 million in additional development milestones during 2012. Threshold Pharmaceuticals, Inc. is also eligible to receive a $20 million milestone payment based on positive results from its randomized Phase 2 trial in pancreatic cancer. Total potential milestone payments are $525 million, comprised of $280 million in regulatory and development milestones and $245 million in sales-based milestones.
For more information about Threshold Pharmaceuticals, please visit: www.thresholdpharm.com
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Pzena Investment Management, Inc. (NYSE:PZN) announced that it will hold a conference call to discuss the Company`s financial results and outlook at 10:00 a.m. ET, Wednesday, February 8, 2012. The call will be open to the public. Webcast Instructions: To gain access to the webcast, which will be “listen-only,” go to the Events page in the Investor Relations area of the Company`s website, www.pzena.com.
Pzena Investment Management, Inc. is a publicly owned investment manager. It provides its services to individuals, typically high net worth individuals, investment companies, charitable organizations, corporations, state or municipal government entities, pension and profit sharing plans, and pooled investment vehicles.
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Tenneco Inc (NYSE:TEN) reported record net income of $30 million, or 49-cents per diluted share, compared with a loss of $18 million, or 31-cents per diluted share, in the fourth quarter 2010. On an adjusted basis, net income also increased to $32 million, or 53-cents per diluted share, versus $19 million, or 31-cents per diluted share, a year ago. The tables in the press release reconcile GAAP results to non-GAAP results. Total revenue in the quarter was $1.784 billion, up 13% from 2010, representing the company’s highest-ever fourth quarter revenue. Revenue excluding substrate sales and currency was $1.374 billion, a 13% year-over-year increase versus $1.215 billion.
Tenneco Inc., together with its subsidiaries, engages in the design, manufacture, and sale of emission control and ride control products and systems for commercial and specialty vehicle applications.
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Majestic Gold Corp. (MJGCF)
Majestic Gold Corp. (MJGCF.PK) engages in the acquisition, exploration, and mining of precious metals in China. The company primarily explores for gold deposits. It holds interest in the Song Jiaguo Property located on the Jiaodong Peninsula in Muping County, the Shandong Province. The company is headquartered in Vancouver, Canada.
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Majestic Gold Corp. (MJGCF.PK) has arranged a $10,000,000 loan to advance its Song Jiagou project in China. Nine million dollars ($9,000,000) from the proceeds from the loan will be used by the Company to in connection with its Song Jiagou project and the balance of one million dollars ($1,000,000) for general working capital purposes.
The loan will have a one year term and loan principal will be convertible at the option of the lender in whole or in part into common shares (”Shares”) of the Company until twelve months from the date of the loan advance at the price of $0.205 per Share. The loan will bear interest at the rate of 7.5% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into shares of the Company until twelve months from the date of the loan advance at Market Price at the time of conversion.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. The loan is subject to acceptance by the TSX Venture Exchange.
As additional consideration for the loan, the Company has agreed to forward at least $9 million to Majestic Yantai Gold Ltd., a British Virgin Islands company owned 94% by the Company to be used to further advance its Song Jiagou project. The Borrower has also agreed to a 90 day period for reciprocal due diligence reviews and discussions for the possible further involvement of the Lender in the Song Jiagou project.
In the event that no further agreement is reached between the Lender and the Company during the 90 day period, then the loan and a minimum of seven (7) months interest will automatically convert to shares in the Company at a price of $0.205 per share and the interest at Market Price respectively. In addition the Company is pleased to announce that it has arranged a non-brokered private placement of up to 15,000,000 shares to be issued at the price of $0.20 per share for gross proceeds of $3,000,000.
For more information please visit official website of MJGCF.PK: http://www.majesticgold.net
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Eagle Bancorp Montana, Inc. (NASDAQ:EBMT), the holding company of American Federal Savings Bank, reported it earned $487,000, or $0.12 per diluted share, in the second fiscal quarter ended December 31, 2011, compared to $428,000, or $0.11 per diluted share in the preceding quarter and $644,000, or $0.17 per diluted share, in the second quarter a year ago. The Company also announced its board of directors has declared a regular quarterly cash dividend of $0.07125 per share payable March 1, 2012 to shareholders of record on February 9, 2012.
Eagle Bancorp Montana, Inc. operates as the holding company for American Federal Savings Bank, which provides retail banking products and services primarily in the south central Montana.
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