News / Finance
Obsidian Financial’s Morning Market News for Tuesday October 25, 2011: Viking Minerals Inc., Quest Diagnostics Incorporated, Nara Bancorp Inc., iPass Inc., Aeterna Zentaris Inc.
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Viking Minerals Inc. (OTC: VKML) reports further on its drill program on the Dolly Varden Claims, Elko County, Nevada. Company President Charles Irizarry stated “After a physical review of the new drill core we can say with some certainty that our geological model is proving up nicely, we are finding mineralization where it is supposed to be and the grades seem to be there as well.”
To view the full press release for Viking Minerals Inc. (OTC: VKML), visit OFinancialinc.com
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Quest Diagnostics Incorporated (NYSE: DGX) announced today 10/25/11, that its Board of Directors has begun the process of identifying a successor to Surya N. Mohapatra, Ph.D., President, Chairman and Chief Executive Officer. The Board of Directors has formed a search committee, engaged a leading executive recruitment firm and will consider both external and internal candidates. Dr. Mohapatra has agreed to continue to serve as Chairman and CEO for up to six months to ensure a smooth transition. Daniel C. Stanzione, Ph.D., Lead Independent Director, said: "Under Surya's leadership Quest Diagnostics has established itself as a patient-focused healthcare company. It has built an engine for growth in esoteric and gene-based testing, focused on the critically important areas of cancer, cardiovascular disease, infectious disease and neurological disorders. The company has a solid foundation for the future, and will continue to focus on delivering strong operating performance and increased shareholder value while we progress through this transition. The company and the healthcare industry have benefited greatly from Surya's leadership and vision."
Nara Bancorp Inc. (NASDAQ: NARA) announced yesterday 10/24/11, that it has commenced an underwritten public offering of approximately $55 million of its common stock. Keefe, Bruyette & Woods and D.A. Davidson & Co. will serve as co-lead underwriters. The Company intends to grant the underwriters an option to purchase up to an additional 15% of the amount of common stock offered to cover over-allotments, if any. Nara intends to use the net proceeds of the offering for general corporate purposes. These purposes include enhancement of Nara’s capital position to support Nara’s pending merger of equals with Center Financial Corporation, supporting internal growth in its banking business, funding working capital requirements and possible retirement of debt, preferred stock or other securities.
iPass Inc. (NASDAQ: IPAS) announced today 10/25/11, that iPass Open Mobile Exchange (OMX) will provide the foundation for a new data roaming service for subscribers of China Mobile's international service provider partners, as well China Mobile's local users. Through the new Wi-Fi exchange services, iPass OMX will serve as a central hub through which China Mobile's international roaming partners are provided with access to the China Mobile Wi-Fi network. It will also support China Mobile's international data roaming needs by providing access for China Mobile users travelling abroad.
Aeterna Zentaris Inc. (NASDAQ: AEZS) announced today 10/25/11, that the U.S. Food and Drug Administration (FDA) has granted Alberto J. Montero, M.D., Assistant Professor, Department of Medicine, Division of Hematology/Oncology, Sylvester Comprehensive Cancer Center at the University of Miami Miller School of Medicine, an Investigational New Drug (IND) approval for the initiation of a randomized Phase 2 trial in chemotherapy refractory triple-negative (ER/PR/HER2-negative) luteinizing hormone-releasing hormone receptor (LHRH-R)-positive metastatic breast cancer with the Company's targeted cytotoxic LHRH analog, AEZS-108. Juergen Engel, Ph.D., President and CEO of Aeterna Zentaris stated, "Patients with triple-negative breast cancer have poorer outcomes compared to other breast cancer subtypes and are in need of a safe and effective therapeutic regimen. Because LHRH receptors are expressed in a majority of triple negative-breast cancer, we believe AEZS-108 could represent a novel targeted treatment for these patients. Expansion into the breast cancer indication with AEZS-108 after recent positive Phase 2 results in endometrial and ovarian cancer, as well as positive Phase 1/2 results in prostate cancer, is further proof of the potential of this innovative compound in a variety of cancer indications for both women and men."
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