PTLA Reports Q2 Loss   Portola Pharmaceuticals Inc.® (Nasdaq:(PTLA) today reported financial results and provided a corporate update

PTLA Reports Q2 Loss Of $1.22 Per Share. Misses On Revenues.

Portola Pharmaceuticals Reports Second Quarter 2017 Financial Results and Provides Corporate Update

PTLA Reports Q2 Loss   Portola Pharmaceuticals Inc.® (Nasdaq:<span data-recalc-dims=(PTLA) today reported financial results and provided a corporate update " width="300" height="200" srcset="https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/08/portolapharma_600x400.jpg?resize=300%2C200 300w, https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/08/portolapharma_600x400.jpg?w=600 600w" sizes="(max-width: 300px) 100vw, 300px" />

PTLA Reports Q2 Loss   Portola Pharmaceuticals Inc.® (Nasdaq:(PTLA) today reported financial results and provided a corporate update for the quarter ended June 30, 2017.

“FDA approval of our first product, Bevyxxa®, in the second quarter marked the ultimate milestone for Portola and the millions of patients who could benefit from this important new medicine,” said Bill Lis, chief executive officer of Portola. “We resubmitted our BLA for AndexXa® in the U.S. and are committed to working closely with the FDA toward approval, and with the EMA for approval of both products in 2018. Based on robust clinical data, both Bevyxxa and AndexXa are potentially life-saving medicines and are highly anticipated by the medical community.”

Recent Achievements, Upcoming Events and Milestones

Bevyxxa (betrixaban) -– an oral, once-daily Factor Xa inhibitor approved by the U.S. Food and Drug Administration (FDA) under Priority Review on June 23, 2017



 

PTLA Reports Q2 Loss

  • First and only anticoagulant for hospital and extended duration prophylaxis (35 to 42 days) of venous thromboembolism (VTE) in adult patients hospitalized for an acute medical illness who are at risk for thromboembolic complications due to moderate or severe restricted mobility and other risk factors for VTE
  • Anticipate U.S. launch between September and November 2017
  • Expect opinion from the Committee for Medicinal Products for Human Use (CHMP) by late 2017 or early 2018

AndexXa (andexanet alfa) – a Factor Xa inhibitor antidote in development for patients treated with a Factor Xa inhibitor when reversal of anticoagulation is needed due to life-threatening bleeding or when urgent surgery is required; designated a Breakthrough Therapy and an Orphan Drug by the FDA

  • Resubmitted Biologics License Application (BLA) to the FDA on August 3, 2017
  • Expect to receive an opinion from the CHMP by early 2018

Cerdulatinib – an oral, dual Syk/JAK inhibitor in development to treat relapsed and refractory hematologic cancers

  • Presented interim data at the International Congress of Malignant Lymphoma and the European Hematology Associationfrom a Phase 2a study evaluating cerdulatnib in patients with relapsed/refractory B-cell malignancies that demonstrated evidence of clinical activity in patients with relapsed/refractory B-cell malignancies; also presented preliminary data suggesting activity in t-cell lymphoma

Second Quarter 2017 Financial Results
Collaboration and license revenue earned under Portola’s collaboration and license agreements with Bristol-Myers Squibb Company and Pfizer, Bayer Pharma, Janssen Pharmaceuticals and Daiichi Sankyo was $3.8 million for the second quarter of 2017 compared with $4.2 million for the second quarter of 2016.

Total operating expenses for the second quarter of 2017 were $69.6 million, compared with $61.9 million for the same period in 2016. Total operating expenses for the second quarter of 2017 included $13.3 million in stock-based compensation expense, compared with $7.6 million for the same period in 2016.

Research and development expenses were $49.3 million for the second quarter of 2017, compared with $44.8 million for the second quarter of 2016. The increase in R&D expenses was largely attributable to an increase in manufacturing costs to produce betrixaban active pharmaceutical ingredient and other program costs related to cerdulatinib.

Selling, general and administrative expenses for the second quarter of 2017 were $20.3 million, compared with $17.0 millionfor the same period in 2016.

For the second quarter of 2017, Portola reported a net loss of $69.7 million, or $1.22 net loss per share, compared with a net loss of $57.3 million, or $1.02 net loss per share, for the same period in 2016.

Cash, cash equivalents and investments at June 30, 2017 totaled $269.7 million, compared with cash, cash equivalents and investments of $318.8 million as of December 31, 2016.

Conference Call Details
Portola will host a conference call today, Wednesday, August 9, 2017, at 4:30 p.m. Eastern Time, during which management will discuss the remaining steps necessary for the planned U.S. launch of Bevyxxa, second quarter 2017 financial results and other matters. The live call can be accessed by phone by calling (844) 452-6828 from the United States and Canada or 1 (765)-507-2588 internationally and using the passcode 61767329. The webcast can be accessed live on the Investor Relations section of the Company’s website at http://investors.portola.com. It will be archived for 30 days following the call.

About Portola Pharmaceuticals, Inc. ®
Portola Pharmaceuticals is a biopharmaceutical company developing product candidates that could significantly advance the fields of thrombosis and other hematologic diseases. The Company’s first medicine, Bevyxxa® (betrixaban), an oral, once-daily Factor Xa inhibitor, was approved by the U.S. Food and Drug Administration in June 2017. The company is also working to advance two clinical programs for AndexXa (andexanet alfa), a recombinant protein designed to reverse the anticoagulant effect in patients treated with an oral or injectable Factor Xa inhibitor; and cerdulatinib, a SYK/JAK inhibitor in development to treat hematologic cancers. Portola’s partnered program is focused on developing selective SYK inhibitors for inflammatory conditions. For more information, visit http://www.portola.com and follow the Company on Twitter @Portola_Pharma.

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BAM Reports Q2 Funds Q2 FFO of $1.026B or $1.01 per share vs. $637M and $0.62 a year ago. Excluding

BAM Reports Q2 Funds From Operations Of $1.01 Per Share. Beats On Revenues.

Brookfield Asset Management +2.6% after Q2 results

BAM Reports Q2 Funds Q2 FFO of $1.026B or $1.01 per share vs. <a href=$637M and $0.62 a year ago. Excluding" width="300" height="225" srcset="https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/08/saupload_shutterstock_132336506_mini_thumb1.jpg?resize=300%2C225 300w, https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/08/saupload_shutterstock_132336506_mini_thumb1.jpg?resize=506%2C380 506w, https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/08/saupload_shutterstock_132336506_mini_thumb1.jpg?w=640 640w" sizes="(max-width: 300px) 100vw, 300px" />

BAM Reports Q2 Funds Q2 FFO of $1.026B or $1.01 per share vs. $637M and $0.62 a year ago. Excluding realized disposition gains, FFO from operating activities of $562M was up 9% from $514M a year ago. Those disposition gains were helped by the sale of the company’s interest in 245 Park Avenue, resulting in a $464M gain.

Fee-related earnings up 22% Y/Y thanks to higher fee-bearing assets and higher incentive distributions. Invested capital FFO up 2%.



BAM Reports Q2 Funds

Quarterly dividend continues at $0.14 per share.

$9B put to work during quarter. Fundraising currently underway for the next flagship real estate fund which is expected to be larger than its predecessor.

Conference call at 11 ET

Previously: Brookfield Asset Management beats by $0.45, beats on revenue(Aug. 10)

BAM+2.6% premarket

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Puma Biotechnology, Inc., a biopharmaceutical company, announced financial results for the second quarter ended June 30, 2017.

Reports Q2 Loss Of $1.38 Per Share, Excluding Non-recurring Items

Puma Biotechnology Reports Second Quarter 2017 Financial Results

Puma Biotechnology, Inc., a biopharmaceutical company, announced financial results for the second quarter ended June 30, 2017.

Puma Biotechnology, Inc. (PBYI), a biopharmaceutical company, announced financial results for the second quarter ended June 30, 2017.

Unless otherwise stated, all comparisons are for the second quarter and six months ended June 30, 2017, compared to the second quarter and six months ended June 30, 2016.

Based on accounting principles generally accepted in the United States(GAAP), Puma reported a net loss applicable to common stock of $77.8 million, or $2.10 per share, for the second quarter of 2017, compared to a net loss applicable to common stock of $66.6 million, or $2.05 per share, for the second quarter of 2016. Net loss applicable to common stock for the first six months of 2017 was $150.7 million, or $4.08 per share, compared to $137.6 million, or $4.23 per share, for the first six months of 2016.

Non-GAAP adjusted net loss was $50.9 million, or $1.38 per share, for the second quarter of 2017, compared to non-GAAP adjusted net loss of $37.9 million, or $1.17 per share, for the second quarter of 2016. Non-GAAP adjusted net loss for the first six months of 2017 was $94.0 million, or $2.54 per share, compared to non-GAAP adjusted net loss of $79.3 million, or $2.44 per share, for the first six months of 2016. Non-GAAP adjusted net loss excludes stock-based compensation expense, which represents a significant portion of overall expense and has no impact on the cash position of the Company. For a reconciliation of GAAP net loss to non-GAAP adjusted net loss and GAAP net loss per share to non-GAAP adjusted net loss per share, please see the financial tables at the end of this news release.

Net cash used in operating activities for the second quarter of 2017 was $45.9 million. Net cash used in operating activities for the first six months of 2017 was $82.0 million. At June 30, 2017, Puma had cash and cash equivalents of $80.8 million and marketable securities of $70.8 million, compared to cash and cash equivalents of $194.5 million and marketable securities of $35.0 million at December 31, 2016.

“During the second quarter of 2017, we achieved a significant milestone for Puma with the U.S. Food and Drug Administration’s (FDA) Oncologic Drugs Advisory Committee meeting, which led to last month’s FDA approval of NERLYNX™ (neratinib) for the extended adjuvant treatment of HER2-positive early stage breast cancer. This marked a major milestone for breast cancer patients and for Puma,” said Alan H. Auerbach, Chairman, Chief Executive Officer and President of Puma. “Despite advances in early stage HER2-positive breast cancer treatment, there continues to be a need to reduce the risk of disease recurrence. NERLYNX has been demonstrated to significantly reduce that risk and offers physicians and their patients another treatment option. NERLYNX is now commercially available by prescription in the United States. We are also working with the European Medicines Agency (EMA) on their review of our marketing authorization application (MAA) for this indication and we expect the Committee for Medicinal Products for Human Use (CHMP), the scientific committee of the EMA, to issue an opinion regarding the MAA for neratinib in the first quarter of 2018.”

Mr. Auerbach added, “Also, during the second quarter, we presented data at the 2017 American Society of Clinical Oncology Annual Meeting from a Phase II trial of neratinib, which highlighted positive results from the TBCRC 022 trial in patients with HER2-positive metastatic breast cancer with brain metastases. In addition, during the quarter, we also achieved the targeted patient enrollment in our Phase III NALA trial of neratinib in patients with HER2-positive metastatic breast cancer who have failed two or more prior lines of HER2-directed treatments (third-line disease) in the setting of metastatic disease. We anticipate that primary analysis of data related to the NALA trial will be available during the first half of 2018.




 

Puma Biotechnology

 

“In the second half of this year, we anticipate the following clinical milestones: (i) presentation of the 5-year disease free survival (DFS) data from the ExteNET Phase III trial of NERLYNX as an extended adjuvant treatment in HER2-positive early stage breast cancer in the third quarter of 2017 and (ii) reporting additional data in the fourth quarter of 2017 from the Phase II trial of neratinib as an extended adjuvant treatment in HER2-positive early stage breast cancer using loperamide, budesonide and colestipol antidiarrheal prophylaxis.”

Operating Expenses

Operating expenses were $78.2 million for the second quarter of 2017, compared to $66.5 million for the second quarter of 2016. Operating expenses for the first six months of 2017 were $151.4 million, compared to $137.7 million for the first six months of 2016.

Selling, General and Administrative Expenses:

Selling, general and administrative (SG&A) expenses were $24.9 million for the second quarter of 2017, compared to $12.3 million for the second quarter of 2016. SG&A expenses for the first six months of 2017 were $43.3 million, compared to $23.3 million for the first six months of 2016. The approximately $20.0 million increase during the first six months of 2017 compared to the first six months of 2016 resulted primarily from increases of approximately $2.6 million for stock-based compensation, $13.7 million for professional fees and expenses, and $2.1 million for payroll and related costs. These increases reflect overall corporate growth.

Research and Development Expenses:

Research and development (R&D) expenses were $53.3 million for the second quarter of 2017, compared to $54.2 million for the second quarter of 2016. R&D expenses for the first six months of 2017 were $108.1 million, compared to $114.4 million for the first six months of 2016. The approximately $6.3 million decrease during the first six months of 2017, compared to the first six months of 2016, resulted primarily from decreases of approximately $4.1 million for stock-based compensation and $3.6 million for clinical trial expenses, offset by increases of $0.9 million for internal clinical development and $0.7 million for consultants and contractors related expenses.

About Puma Biotechnology

Puma Biotechnology, Inc. is a biopharmaceutical company with a focus on the development and commercialization of innovative products to enhance cancer care. The Company in-licenses the global development and commercialization rights to three drug candidates — PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357. NERLYNX™ (neratinib) is approved for commercial use by prescription in the United States as extended adjuvant therapy for early stage HER2-positive breast cancer following adjuvant trastuzumab-based therapy and is marketed as NERLYNX. Nertatinib is a potent irreversible tyrosine kinase inhibitor that blocks signal transduction through the epidermal growth factor receptors, HER1, HER2 and HER4. Currently, the Company is primarily focused on the commercialization of NERLYNX and the continued development of its other advanced drug candidates directed at the treatment of HER2-positive breast cancer. The Company believes that NERLYNX has clinical application in the treatment of several other cancers as well, including non-small cell lung cancer and other tumor types that over-express or have a mutation in HER2. Further information about Puma Biotechnology can be found at www.pumabiotechnology.com.

IMPORTANT SAFETY INFORMATION

NERLYNX™ (neratinib) tablets, for oral use

INDICATIONS AND USAGE: NERLYNX is a kinase inhibitor indicated for the extended adjuvant treatment of adult patients with early-stage HER2 overexpressed/amplified breast cancer, to follow adjuvant trastuzumab-based therapy.

CONTRAINDICATIONS: None

WARNINGS AND PRECAUTIONS:

• Diarrhea: Aggressively manage diarrhea occurring despite recommended prophylaxis with additional antidiarrheals, fluids, and electrolytes as clinically indicated. Withhold NERLYNX in patients experiencing severe and/or persistent diarrhea. Permanently discontinue NERLYNX in patients experiencing Grade 4 diarrhea or Grade ≥ 2 diarrhea that occurs after maximal dose reduction.

• Hepatotoxicity: Monitor liver function tests monthly for the first 3 months of treatment, then every 3 months while on treatment and as clinically indicated. Withhold NERLYNX in patients experiencing Grade 3 liver abnormalities and permanently discontinue NERLYNX in patients experiencing Grade 4 liver abnormalities.

• Embryo-Fetal Toxicity: NERLYNX can cause fetal harm. Advise patients of potential risk to a fetus and to use effective contraception.

ADVERSE REACTIONS: The most common adverse reactions (≥ 5%) were diarrhea, nausea, abdominal pain, fatigue, vomiting, rash, stomatitis, decreased appetite, muscle spasms, dyspepsia, AST or ALT increase, nail disorder, dry skin, abdominal distention, epistaxis, weight decreased and urinary tract infection.

To report SUSPECTED ADVERSE REACTIONS, contact Puma Biotechnology, Inc. at 1-844-NERLYNX (1-844-637-5969) and www.NERLYNX.com or FDA at 1-800-FDA-1088 or www.fda.gov/medwatch.

DRUG INTERACTIONS:

  • Gastric acid reducing agents: Avoid concomitant use with proton pump inhibitors (PPI) and H2-receptor antagonists. Separate NERLYNX by 3 hours after antacid dosing.
  • Strong or moderate CYP3A4 inhibitors: Avoid concomitant use.
  • Strong or moderate CYP3A4 inducers: Avoid concomitant use.
  • P-glycoprotein (P-gp) substrates: Monitor for adverse reactions of narrow therapeutic agents that are P-gp substrates when used concomitantly with NERLYNX.

USE IN SPECIFIC POPULATIONS:

• Lactation: Advise women not to brea



Buz Investors PIERIS PHARMACEUTICALS REPORTS FULL-YEAR 2016

PIERIS PHARMACEUTICALS REPORTS FINANCIAL RESULTS FOR THE SECOND QUARTER

PIERIS PHARMACEUTICALS REPORTS FINANCIAL RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 2017 AND PROVIDES CORPORATE UPDATE

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Buz Investors PIERIS PHARMACEUTICALS REPORTS FULL-YEAR 2016

PRESS RELEASE PIERIS PHARMACEUTICALS (NASDAQ: PIRS), a clinical-stage biotechnology company advancing novel biotherapeutics through its proprietary Anticalin® technology platform for cancer, respiratory and other diseases, today reported financial results for the second quarter of 2017 and provided an update on the Company’s recent developments, including:

 



 

  • Strategic alliance in respiratory diseases with AstraZeneca: Announcement of a global and transformative alliance in one of the Company’s core therapeutic areas, respiratory diseases, with AstraZeneca, anchored around lead respiratory program PRS-060. Pieris plans to dose healthy subjects in the fourth quarter of 2017 in a single-ascending dose trial, followed by a multi-ascending dose trial, under a clinical trial notification to the Therapeutic Goods Administration in Australia. The dosing of the first subject will trigger a milestone payment of $12.5 million by AstraZeneca to Pieris.
  • IND approval for PRS-343: Notification by FDA of acceptance of the Company’s IND filing for its lead proprietary immuno-oncology (IO) program, PRS-343. The Company is diligently engaged with its clinical trial sites toward initiation of patient dosing in a Phase I study in patients with HER2-positive solid tumors. In April, at the Annual Meeting of the American Association for Cancer Research, Pieris presented preclinical data for PRS-343 that further validated the understanding of its differentiated bispecific mechanism of action in the treatment of HER2-positive tumors.
  • Positive clinical data and progression of PRS-080: Advancement of the Company’s anemia program, PRS-080, including the filing of separate clinical trial applications with the German and Czech Republic regulatory authorities to conduct a Phase IIa trial in functional iron deficient anemia patients with the intention, pending timely regulatory approval, to initiate enrollment of patients during this quarter. During the second quarter, the Company completed a Phase Ib single ascending dose study in anemic chronic kidney disease patients on hemodialysis and presented positive data at the 54th European Renal Association & European Dialysis and Transplant Association Congress in Spain.
  • Advancing and broadening IO pipeline with Servier: Advancement of the Company’s IO partnership with Servier, including progression of our lead program PRS-332, through preclinical studies, while initiating activities for two of the collaboration programs beyond PRS-332.

“During the second quarter, we continued to build on the momentum with which we began the year, by announcing a global transformative alliance with AstraZeneca in one of our core therapeutic areas, respiratory diseases. We also advanced our strategic collaboration with Servier in immuno-oncology, while strengthening our relationship with ASKA Pharmaceutical, who holds an exclusive development and commercialization option in Japan for our anemia program, PRS-080. Our partnerships have generated nearly $80 million in cash flow in 2017, and together could result in more than $4.4 billion in potential milestone payments plus royalties from future product sales, not to mention opportunities for direct commercial sales for several products in the United States. This year’s transactions are a significant step towards achieving our goal of becoming a fully integrated, immunology-focused, commercial-stage biopharmaceutical company,” said Stephen Yoder, President and CEO of Pieris. “We recently received FDA acceptance of our IND filing for our lead and wholly owned IO program, PRS-343, and soon expect to dose our first patient in HER2-positive cancers. We remain on track to advance our lead respiratory program, PRS-060, into a first-in-human trial in the second half of this year in collaboration with AstraZeneca, while advancing PRS-080 into a Phase IIa study in anemia patients. Finally, our balance sheet remains strong, with a financial runway that extends through several critical, clinical-stage value inflection points.”

Second Quarter Financial Update:

Cash Position – Cash and cash equivalents totaled $50.3 million as of June 30, 2017, compared to $29.4 million as of December 31, 2016. The increase in cash was driven primarily by a EUR30.0 million (approximately $32.0 million) upfront payment received from Servier and a $2.8 million option payment received from ASKA, offset by $15.2 million of operating cash expenditures during the first half of the year. In addition, in July 2017 the Company received $45.0 million of upfront payments from AstraZeneca.

R&D Expense – Research and development expenses were $5.4 million and $10.8 million for the three and six-month periods ended June 30, 2017, respectively, as compared to $4.5 million and $8.2 million for the three and six-month periods ended June 30, 2016. The Company’s increases in research and development expenses reflect advancement across its pipeline of programs.

G&A Expense – General and administrative expenses were $4.3 million and $8.3 million for the three and six-month periods ended June 30, 2017, respectively, as compared to $2.4 million and $4.3 million for the three and six-month periods ended June 30, 2016. The increase in the 2017 periods as compared to the corresponding periods in 2016 is largely attributable to $1.8 million in transaction fees for the successful close of our license and collaboration agreement with AstraZeneca. Of a more recurring nature, recruiting and personnel related costs are increasing as we continue to build the organization and we increasingly require outside professional services, including for intellectual property and corporate legal work, auditing, finance, communications and in other facets of the business.

Net Loss – Net loss was $10.1 million or ($0.23) per share for the three-month period ended June 30, 2017, compared to a net loss $5.9 million or ($0.14) per share for the three-month period ended June 30, 2016. Net loss was $18.1 million or ($0.42) per share for the six-month period ended June 30, 2017, compared to a net loss $10.0 million or ($0.25) per share for the six-month period ended June 30, 2016.

Upcoming Milestones:

  • PRS-343: dose first patient in a Phase I multi-ascending dose study involving a range of HER2-positive solid cancers representing unmet medical needs, such as gastrointestinal, bladder and breast cancers.
  • PRS-080: dose first patient in a Phase IIa trial enrolling FID anemia patients in Germany and the Czech Republic.
  • PRS-060: complete first-in-human trial activities and dose first subject in a Phase I study, which will be funded by Pieris’ partner, AstraZeneca.

Conference Call

Pieris management will host a conference call beginning at 10:00 AM Eastern Daylight Time on Thursday, August 10, 2017, to discuss the first quarter financial results and provide a corporate update. To access the call, participants may dial 877-407-8920 (US & Canada) or 412-902-1010 (International) at least 10 minutes prior to the start of the call. An archived replay of the call will be available for 30 days by dialling (Toll Free US & Canada): 877-660-6853, (International): 201-612-7415, Conference ID #: 13661472.

About Pieris Pharmaceuticals

Pieris is a clinical-stage biotechnology company that discovers and develops Anticalin® protein-based drugs to target validated disease pathways in a unique and transformative way. Our pipeline includes immuno-oncology multi-specifics tailored for the tumor microenvironment, an inhaled Anticalin protein to treat uncontrolled asthma and a half-life-optimized Anticalin protein to treat anemia. Proprietary to Pieris, Anticalin proteins are a novel class of therapeutics validated in the clinic and by partnerships with leading pharmaceutical companies. Anticalin is a registered trademark of Pieris. For more information, visit www.pieris.com.

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CRUDE OIL PRICES EASE in Asia on Wednesday after industry estimates showed US crude supplies gained at the end of last week, though official data is awaited for confirmation.

CRUDE OIL PRICES EASE IN ASIA AFTER API REPORTS BUILD, EIA DATA AHEAD

CRUDE OIL PRICES EASE IN ASIA AFTER API REPORTS BUILD, EIA DATA AHEAD

COMMODITY TRADERS 

CRUDE OIL PRICES EASE in Asia on Wednesday after industry estimates showed US crude supplies gained at the end of last week, though official data is awaited for confirmation.

CRUDE OIL PRICES EASE in Asia on Wednesday after industry estimates showed US crude supplies gained at the end of last week, though official data is awaited for confirmation.

On the New York Mercantile Exchange crude futures for September delivery fell 0.73% to $48.80 a barrel, while on London’s Intercontinental Exchange, Brent eased 0.06% to $51.44 a barrel.

Crude oil inventories rose an unexpected 1.78 million barrels at the end of last week, the American Petroleum Institute said late Tuesday, with the industry data often seen as an unreliable place-setter for official data later today.

Gasoline was reported as a draw of 4.8 million barrels following a build of 1.9 million barrels the previous week. Distillate registered a draw of 1.22 million barrels after a draw previously.



CRUDE OIL PRICES EASE

 

Analysts estimate the Energy Information Administration will report on Wednesday that crude oil inventories were down 2.9 million barrels in the past week, while distillates fell 225,000 barrels and gasoline stocks dipped 1.050 million barrels. The API and EIA figures often diverge.

Overnight, crude futures settled lower on Tuesday, as the rally in oil prices cooled, following reports that Opec increased output despite the group’s pact to curb production.

Investors skepticism over Opec’s ability to tackle the glut in supply resurfaced Tuesday after survey data from Reuters showed an uptick in Opec production despite the group’s pledge to increase compliance with the deal to cut production.

A survey from Reuters showed output from the Organization of the Petroleum Exporting Countries rose by 90,000 barrels a day in July, to a 2017 high of 33 million barrels.

The bearish survey comes a day after crude prices settled above $50 a barrel, on the back of expectations that some members of the Opec and non-Opec nations will meet on Aug 7-9 in Abu Dhabi to discuss how to increase compliance.

In May, Opec and non-Opec members agreed to extend production cuts for a period of nine months until March, but stuck to production cuts of 1.8 million bpd agreed in November last year.

Meanwhile in the U.S., fresh inventory data from the American Petroleum Institute later Tuesday as well as a further report from EIA late Wednesday is expected to show continued tightening in U.S. crude stockpiles.

Analysts forecast crude inventories fell by 2.9m barrels in the week ended July 28, the fifth-straight week of declines.

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COMMODITIES: (CRUDE OIL) (SILVER) (GOLD)



Abercrombie & Fitch stock rallies Shares of Abercrombie & Fitch Co. (ANF), +5.90% edged up 0.2% in premarket trade Thursday,

Abercrombie & Fitch shares plunge premarket as WSJ reports sale talks stall

Abercrombie & Fitch shares plunge premarket as WSJ reports sale talks stall

Abercrombie shares plunge  Shares of Abercrombie & Fitch Co. ANF, -21.13% plunged 11% toward a three-month low in premarket

FOREX INVESTORS  Abercrombie shares plunge  Shares of Abercrombie & Fitch Co. ANF, -21.13% plunged 11% toward a three-month low in premarket trade Monday, after the specialty apparel retailer said it terminated discussions regarding a potential buyout deal. “After a comprehensive review of all relevant factors, with the assistance of our financial advisor, the A&F Board of Directors determined that the best path to enhance value for stockholders is the rigorous execution of our business plan,” said Executive Chairman Arthur Martinez. “We believe in the prospects for our business and the opportunities for our brands.” The company had said in May that it had started preliminary discussions with several parties regarding a potential deal.



Abercrombie shares plunge

 

Abercrombie & Fitch (NYSE:(ANF) posts a statement ahead of a WSJ story on stalled deal talks.

“After a comprehensive review of all relevant factors, with the assistance of our financial advisor, the A&F Board of Directors determined that the best path to enhance value for stockholders is the rigorous execution of our business plan.”

“We believe in the prospects for our business and the opportunities for our brands. We are generating solid comp store sales momentum at Hollister and continue to refine and implement strategies to position the Abercrombie brand for revitalized performance.”

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BUZ INVESTORS NEWC Reports Sannabis New Colombia Resources, Inc. (“the Company”) ( OTC PINK : NEWC ), a Colombian natural resource company listed in the U.S., with premium metallurgical coal and medical marijuana assets,

$NEWC Reports Sannabis has Successfully Treated Another Prostate Cancer Patient

PRESS RELEASE|Chart | Calendar   | TRADE NOW | CANNABIS

New Colombia Resources Inc. Reports Sannabis has Successfully Treated Another Prostate Cancer Patient with their Pure Cannabis Extracts

BUZ INVESTORS NEWC Reports Sannabis New Colombia Resources, Inc. (“the Company”) ( OTC PINK : NEWC ), a Colombian natural resource company listed in the U.S., with premium metallurgical coal and medical marijuana assets,

BUZ INVESTORS  NEWC Reports Sannabis New Colombia Resources, Inc. (“the Company”) ( OTC PINK : (NEWC), a Colombian natural resource company listed in the U.S., with premium metallurgical coal and medical marijuana assets, is pleased to announce their medical marijuana joint venture, Sannabis SAS, has successfully treated another cancer patient. The patient is a male in his 60’s with prostate cancer that was first diagnosed in January 2003, with a Prostate Specific Antigen (PSA) level of 5.25. In August 2003, he underwent surgery to remove his prostate with a PSA level of 10.05, the following month cancer was detected with a PSA of 3.90.
During 2004, he went through 10 sessions of radiation therapy with a PSA of 3.6; he began quarterly injections of Zoladex (Goserelin) hormone therapy. Bone scan showed no metastasis. From 2005-2013 he continued hormone therapy with yearly bone scans without metastasis with an average PSA of 9.90. In September 2013, with a PSA of 11.90, he began using Bicalutamide. In November of 2014 his bone scan was good and PSA was 12.53. In September 2015, his bone scan was good and his PSA level was 12.79.

In February 2016, his PSA jumped to 14.31 and a bone scan showed a compromising metastasis in his right femur. His PSA levels last year were: May-9.87, August-19.06, September-14.71, November-18.77, and December-18.63.

NEWC Reports Sannabis

In January 2017, a CT scan revealed lumps on his lungs; he then started a treatment of Sannabis’ Pure Cannabis Indica Extract applied rectally. His PSA in January 2017 was 3.83, in February his PSA dropped to .87 and a CT scan showed the lumps had disappeared. In March, his level declined even further to .07, and last week it dropped to 0. The patient also experienced relief from a long-term case of hemorrhoids.

For the official Sannabis report on the patient visit, https://drive.google.com/open?id=0BxSKP5j2FlseU1BIU1FmSHB3eG8

These results are very encouraging to New Colombia Resources as they prepare to open treatment spas for patients from abroad that want access to quality cannabis extracts made from medicinal strains only found in Colombia, while experiencing all the natural beauty Colombia has to offer.

New Colombia Resources President John Campo is in Washington D.C. this week attending the Marijuana Business Conference and Expo held at the Gaylord National Harbor Hotel. Colombia’s year-round growing season, natural sunlight, and ideal soil continue to be of much interest and separates them from U.S. growers. Mr. Campo also met with U.S. politcians and officials at the Colombian Embassy to help promote both their coal and medical marijuana businesses. New Colombia Resources has several proposals to encourage more trade between the U.S. and Colombia in both sectors. More specific updates will be given detailing these meetings and subsequent agreements.

Sannabis and the town of Corinto-CAUCA, have organized Colombia’s first medical, therapuetic, and industrial cannabis EXPO on May 25-27. Visitors and exhibiotors are expected from around the world. For more info visit, http://corinto-cauca.gov.co/index.shtml – 2

For the Sannabis catalog visit, http://www.sannabis.co/ver-catalogo.

To view a nationally televised documentary about medical marijuana in Colombia featuring Sannabis growers, patients, and management visit the first video on http://www.sannabis.co/video. This documentary interviewed Sannabis patients and their loved ones around the country using Sannabis products.

Follow Sannabis on Facebook for photos and testimonials at https://www.facebook.com/sannabis.cannamedicinal

New Colombia Resources, Inc.

Business Description

Industry: Coal » Coal    NAICS: 212113    SIC: 1231
Compare: OTCPK:(HMDEF), OTCPK:(JTLDF), OTCPK:(TCLVF), NYSE:(WMLP), OTCPK:(AREC), OTCPK:(WECFY), OTCPK:(BTUUQ), OTCPK:(GXSFF), (TCPK) (PMCF), OTCPK:(CKATF), OTCPK:(RHNO), OTCPK:(MOAEF), NAS:(TANH), OTCPK:(CRSXF), NAS:(WLB), NAS:(HNRG), OTCPK:(FSHRF), NAS:(METC), NYSE:(CLD), OTCPK:(MOGLQ) » details
Headquarter Location: USA

New Colombia Resources Inc is a development stage company. The Company is engaged in the acquisition and development of high-quality metallurgical coal properties in the Republic of Colombia. It owns La Tabaquera coal mine in Guaduas, Colombia.

New Colombia Resources Inc was incorporated in Delaware on September 20, 2000. The Company is focused on the acquisition and development of high-quality metallurgical coal properties in the Republic of Colombia. It is a growing company specializing in acquisitions of revenue generating businesses. The Company has daily interactions with possible acquisition targets looking to expand its operations and the company’s revenue stream. The Company has acquired a mining concession by the name of La Tabaquera in Colombia. The Company will have three revenue producing business units in Colombia: coking and coal mining in Guaduas, Colombia, docks and river transportation along the Magdalena River, and a coal export terminal on the northern coast of Colombia. The Company is also exploring allegiances with U.S. universities to study capturing Coal Bed Methane (CBM) in Colombia.

 

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BUZ INVESTORS EDXC Appointment Endexx Corporation ( OTC PINK : EDXC ), a provider of innovative phytonutrient-based food and nutritional products, announced today that the Company has appointed Dr. Daniel Kiddy as Chief Medical

$EDXC Reports Record Sales for the Second Quarter Ended March 31, 2017

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Endexx Reports Record Sales for the Second Quarter Ended March 31, 2017

 

BUZ INVESTORS PRESS RELEASE  EDXC Reports Record Sales  Endexx Corporation ( OTC PINK : EDXC ), a provider of innovative phyto-nutrient based food and nutritional products, is pleased to report record sales growth for the second quarter of fiscal 2017. For the three months ended March 31, 2017, the Company generated $126K in sales, representing a 47% sequential quarterly increase and a year-over-year revenue growth of 176%.
Second Quarter 2017 Milestones and Updates:

Began mass production of Third Eye Chai, its CBD-Infused Gourmet Tea Beverages with The Mad Hatter Coffee & Tea Co.
Launched its new website Phytobites.com to provide a quick and easy access to drive additional sales channel for Phyto-Bites®, its CBD-infused soft chews for dogs.
Closed on its acquisition of Phyto-Labs LLC to vertically integrate its operations and further develop proprietary formulas for flavored CBD beverages.
CEO Todd Davis was featured on Fox News Phoenix live to speak on Phyto-Bites®.
“We have received a lot of positive reception for Phyto-Bites® and have built an infrastructure to support the growth which we expect to increase substantially in the coming quarters. We are a leader in consumable product lines derived from industrial hemp, which is organic and naturally rich in phytocannabinoids, and are also excited by our CBD-infused gourmet tea ‘Third Eye CBD Chai’, released with our partner The Mad Hatter Coffee and Tea Company. The first production run has completed and has officially launched into sales and delivery. Lastly, we expect a lot of exciting product launches from our Phyto-Labs acquisition. We have recognized that with each new launch, we have seen dramatic sales increases, as our customers are confident in our products,” stated CEO Todd Davis.

EDXC Reports Record Sales

Endexx was recently featured in an NBC News sweeps week special report. The report highlighted Endexx’s approach to the science and education aspect of bringing Cannabidiol and other Phyto-nutrients to the market. The story has generated significant interest in the company. To access the full video please visit: https://www.youtube.com/watch?v=qSXlVK3bCik&feature=youtu.be

The Company is preparing two product launches from Phyto-Labs in late May 2017, as it now has the capability to strategically increase development of its proprietary formulas for nutritional CBD beverages, physician-pharmacist formulated capsules, topical delivery systems and additional pet and livestock products.

About Endexx

Endexx provides innovative inventory management and technology solutions. Endexx, with its collaborative partners and consultants, develops and distributes two consumable product lines derived from industrial hemp, which is organic and naturally rich in phytocannabinoids. Phyto-Bites®, is its CBD-infused soft chews for dogs. The dog treats are formulated to promote health and support the reduction of separation anxiety, pain and inflammation. The company also has two technology products and services that launched in 2014 — the M3hub and the Autospense™. Both products provide essential solutions to promote regulatory compliance and full accountability through “seed to sale” inventory management and an “End of Sale” technology integration. Based on principles developed by the pharmacological industry, the m3hub platform is the first standardized software solution for tracking pharmaceutical grade marijuana that maintains compliance with federal, state and local regulations. It is intended to provide a smooth transition to eventual federal mandates. The Autospense™ is a commercial grade inventory control and dispensing device that provides up-to-the-minute accounting details and ensures both product and patient security. By automating the dispensing process, Autospense™ increases productivity and reduces costs for marijuana retailers, while enhancing their service quality by reducing transaction time for customers. Websites include:www.cbdunlimited.com, www.endexx.com, www.m3hub.com.

Business Description

Industry: Business Services » Business Services    NAICS: 561499    SIC: 7389
Compare: OTCPK:(AEPP), OTCPK:(MVPI), OTCPK:(GEQU), OTCPK:(NNUP), OTCPK:(ITRK), OTCPK:(INVU), OTCPK:(PSCR), OTCPK:(MSNVF), OTCPK:(AWAW), OTCPK:(GBGH), OTCPK:(NAFS), NAS:(SPEX), OTCPK:(MPAY), OTCPK:(PPMT), NAS:(CRTN), OTCPK:(RIHT), OTCPK:(IVFZF), OTCPK:(BMMCF), OTCPK:(YOOIF), OTCPK:9WLKR) » details
Headquarter Location: USA

Endexx Corp is a micro-cap publicly traded company. It is representing the interest of its shareholders and collaborating with software developers, scientists, engineers, and companies to build businesses that can thrive collectively in equity markets.

Endexx Corporation is a micro-cap publicly traded company, representing the interest of its shareholders and collaborating with software developers, scientists, engineers, and companies to build businesses that can thrive collectively in equity markets.

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Terra Tech Announces (OTCQX: TRTC) ("Terra Tech") or (the "Company"), a vertically integrated cannabis-focused agriculture company, today announced that its new Blüm dispensary, located at 1085 South Virginia Street, Reno, Nevada, will open to patients on Monday, January 2nd, 2017 at 9:00 AM Pacific Time

$TRTC Reports First Quarter 2017 Results

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Terra Tech Announces (OTCQX: TRTC) ("Terra Tech") or (the "Company"), a vertically integrated cannabis-focused agriculture company, today announced that its new Blüm dispensary, located at 1085 South Virginia Street, Reno, Nevada, will open to patients on Monday, January 2nd, 2017 at 9:00 AM Pacific Time

BUZ INVESTORS PRESS RELEASE  TRTC Reports First Quarter Terra Tech Corp. (TRTC) (“Terra Tech” or the “Company”), a vertically integrated cannabis-focused agriculture

company, today announced its first quarter 2017 financial results for the period ended March 31, 2017.
Derek Peterson, Chief Executive Officer of Terra Tech Corp., commented, “We are pleased to see the impact of our expansion strategy to open cannabis dispensaries in core target markets drive strong sales in the first quarter. We also reported higher sales of our wholesale IVXX-branded cannabis products as a result of its improved brand recognition coupled with expanded distribution channels. Total first quarter revenues were $6.8 million, representing a 340% increase over the prior year period and we are on track to meet our revenue guidance of $38 – $40 million for 2017.”

“This quarter saw the opening of our fourth Nevada-based Blüm dispensary, located in Reno. This location benefits from limited local competition and we are pleased to record excellent initial sales from Blüm, Reno, which was our best-performing dispensary in the quarter. We consider Nevada to be a major growth opportunity for the Company and are proud to have established a strong presence in the State of Nevada, across both Reno and Las Vegas. This week, the Nevada Tax Commission adopted temporary regulations to allow the state to issue recreational marijuana licenses as early as July 1, which should pave the wave for Terra Tech to break into the recreational market in the second half of 2017. This is a source of great excitement for us.”



TRTC Reports First Quarter

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“Looking ahead, we also remain focused on driving our expansion in the State of California, a major economy with a progressive attitude toward the cannabis sector. To support this strategic goal, we made rapid progress in the first quarter building out a new cultivation facility in Oakland, California, as well as designing both a dispensary and cutting edge production facility in San Leandro, California. We hope to have completed these projects by the end of the year. This was a strong start to the year and we are confident that our strategic growth plan, coupled with ongoing market acceptance of cannabis, will drive Terra Tech’s growth in 2017 and beyond.”

Financial Update:

Total revenues generated for the quarter ended March 31, 2017 increased 340% to approximately $6.8 million, compared to $1.5 million in the same period in 2016. The increase in first quarter revenues was primarily attributable to sales from the Blüm dispensary in Oakland, California, sales from the Company’s four Nevada-based Blüm Dispensaries and sales of IVXX cannabis products. This was partially offset by a decrease in Edible Garden sales due to the expiration of the Company’s contract with a grower of floral products.
Gross profits for the three months ended March 31, 2017 were approximately $359,000, an increase of approximately $225,000 compared with the prior year period. Gross margin for the first quarter of 2017 amounted to approximately 5%, compared to a gross margin of approximately 9% for the first quarter of 2016. Margins were impacted by increased spending on the development of new forms of extracted cannabis products and the refinement of Terra Tech’s propriety recipe of extraction.
Selling, general and administrative expenses for the first quarter of 2017 amounted to approximately $6.4 million, compared to approximately $2.0 million for the first quarter of 2016. The increase was primarily due to an increase in salaries due to new hires associated with the Blüm dispensaries. Other expenses include an increase in consultants’ fees in connection with the Nevada business and an increase in amortization expense due to intangible assets acquired in the Black Oak Gallery acquisition
We realized an operating loss of approximately $6.0 million for the first quarter of 2017, compared to an operating loss of approximately $1.9 million for the first quarter of 2016.
The net loss for the quarter ended March 31, 2017 was approximately $10.1 million or $0.02 per share compared to a loss of approximately $4.1 million or $0.01 per share for the first quarter of 2016.
Stockholders’ equity for the first quarter of 2017 amounted to approximately $49.8 million, compared to approximately $52.2 million as of December 31, 2016.
Short-term debt as of March 31, 2017 amounted to approximately $505,000, compared with approximately $564,000 as of December 31, 2016. Long term debt increased from $1.4 million to $1.7 million during the first three months of 2017, due to additional borrowings used for working capital and capital expenditures.
Business Update:

Cannabis Segment Updates:Opened Blüm, Reno cannabis dispensary to the public on January 2nd, followed by Grand Opening on January 12th.
Completed demolition work and design work for both a dispensary and cutting edge production facility, in addition to a community meeting space, for a dispensary and production facility under construction in San Leandro, California.
Commenced construction of a new cultivation facility in Oakland, California.
Edible Garden Updates:Increased distribution of our Organic Superleaf line at our Northeast supermarkets.
Increased our organic line of products by adding Organic butter head lettuce.
Continue to implement new technology to improve efficiencies, production and margins.
Miscellaneous Operational Updates:Derek Peterson, CEO, participated as a panelist at the California Cannabis Industry Association’s (CCIA) 2nd Annual Policy Conference on March 7th, 2017, and MJIC Media’s 3rd Annual Spring Cannabis Business Expo on March 8th, 2017.
Conference Call

The company will also host a conference call today, Thursday, May 11, 2017 at 9:00 AM Eastern to discuss its financial results and the outlook for 2017.

Dial-In Number: 1-857-232-0157

Access Code: 422095

For those unable to participate in the live conference call, a replay will be available at http://smallcapvoice.com/blog/trtc

An archived version of the webcast will also be available on the investor relations section of the company’s website.

About Terra Tech

Terra Tech Corp. (TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, MediFarm LLC and GrowOp Technology. Blüm’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blüm offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces medical cannabis-extracted products for regulated medical cannabis dispensaries throughout California. The Company’s wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Winn-Dixie, Raley’s, Meijer, Kroger, and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest. Terra Tech’s MediFarm LLC subsidiaries are focused on medical cannabis cultivation and permitting businesses throughout Nevada. The Company’s wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies.

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