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Takeda Pharmaceutical Company Limited and IDM Pharma (Nasdaq: IDMI) Closed at $2.62, Up $0.92. Today announced that Takeda America Holdings, Inc., a wholly-owned subsidiary of Takeda (Takeda America), and IDM Pharma have entered into an agreement for Takeda America to acquire IDM Pharma. Takeda America has established Jade Subsidiary Corporation as a wholly-owned subsidiary to effect that transaction. Under the agreement, Takeda America will purchase all of IDM Pharma's outstanding shares for US$2.64 per share in an all cash tender offer followed by a merger.
What They Do: IDM Pharma is focused on the development of innovative cancer products that either destroy cancer cells by activating the immune system or prevent tumor recurrence by triggering a specific adaptive immune response. IDM Pharma is dedicated to maximizing the full therapeutic and commercial potential of its innovative products to address the needs of patients and the physicians who treat these patients.
Hemispherx Biopharma (NYSE: HEB) Closed at $1.93, Up $0.63. Today announced its financial results for the three months ended March 31, 2009. Cash used in operating activities was $1,434,000 in 2009 versus $2,806,000 in 2008 or a reduction of 49% primarily due to the 2009 implementation of a cash/expense reduction program that was initiated in the fall of 2008. The net loss for the fiscal quarter (including non-cash charges) was approximately $3,087,000 or $0.04 per share compared to a net loss of $3,165,000 or $0.04 per share in 2008.
What They Do: Hemispherx Biopharma, Inc. is an advanced specialty pharmaceutical company engaged in the manufacture and clinical development of new drug entities for treatment of seriously debilitating disorders.
Dillard's, Inc. (NYSE: DDS) Vlosed at $10.18, Up $2.67. Announced Friday after market close operating results for the thirteen weeks ended May 2, 2009. Net income for the thirteen weeks ended May 2, 2009 was $7.7 million ($0.10 per share) compared to net income for the thirteen weeks ended May 3, 2008 of $2.7 million ($0.04 per share). Included in net income for the thirteen weeks ended May 2, 2009 is a pretax gain of $1.5 million ($0.9 million after tax or $0.01 per share) related to the repurchase of certain unsecured notes. (See Interest and Debt Expense/Note Repurchase below.) Included in net income for the thirteen weeks ended May 3, 2008 are asset impairment and store closing charges of $0.9 million ($0.6 million after tax or $0.01 per share).
What They Do: Dillards operates as an apparel and home furnishing retailer in the United States.
Photronics (Nasdaq: PLAB) Closed at $2.26. Today announced that it has amended its Revolving Credit Agreement (the "credit agreement"). The amended agreement, among other items, has modified the maturity of the credit agreement to January 31, 2011.
The amended agreement also includes, modified financial covenants and increased borrowing limits from $120 to $130 million as of November 1, 2009 and from $100 to $110 million as of January 31, 2010 through maturity. Additionally, the Company’s overall availability limit has been reduced by $5 million to $130 million. As part of the amended agreement the Company has issued warrants that could be exercised up to 5% of the Company’s outstanding common stock. The agreement, however, does stipulate potential clawback provisions which may limit the maximum warrants to 2% of the Company’s outstanding common stock.
What They Do: Photronics is a leading worldwide manufacturer of photomasks. Photomasks are high precision quartz plates that contain microscopic images of electronic circuits.
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