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MondayJan 09, 2017 12:58 pm

NetworkNewsBreaks – Medical Marijuana, Inc. (MJNA) Reports Positive Data on CanChew Plus® CBD Gum by AXIM® Biotechnologies, Inc. (AXIM)

Shares of Medical Marijuana (OTC: MJNA) are ticking higher after the company said its major investment company, AXIM® Biotechnologies (OTC: AXIM), received positive pharmacokinetic (PK) data results on its CanChew Plus® CBD Gum, which will be used in upcoming clinical trials as treatment for irritable bowel syndrome (IBS). The single dose study conducted to determine the concentration of CBD in the blood after chewing one CanChew Plus® Gum for 30 minutes showed positive results for the 30 mg dosage. This data will be used to determine the optimal concentration in the IBS patient trial. AXIM aims to provide a pharmaceutical…

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MondayJan 09, 2017 12:54 pm

NetworkNewsBreaks – DryShips, Inc. (NASDAQ: DRYS) Acquires Large Gas Carrier through Option Agreement; Delivery set for June 2017

DryShips (NASDAQ: DRYS) has exercised its first option under a previously announced option agreement to acquire one Very Large Gas Carrier (VLGC) currently under construction at Hyundai Heavy Industries (HHI) for a purchase price of $83.5 million. The VLGC will be employed on a fixed-rate time charter with five years’ firm duration to an oil major; the charterer has options to extend the firm employment period by up to three years. DryShips said it expects the total gross backlog associated with this time charter to be $54.0 million – or $92.7 million including the optional periods – with delivery of…

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FridayJan 06, 2017 1:45 pm

NetworkNewsBreaks – Revance Therapeutics, Inc. (NASDAQ: RVNC) Flags Clinical Milestones, Offers 2017 Financial Guidance

Revance Therapeutics (NASDAQ: RVNC) has three ongoing clinical trials of its RT002 injectable, the results of which the company says it will report by year-end. In a news release yesterday afternoon, the company also guided for 2017 cash burn between $102 million-$112 million; GAAP operating expense between $108 million-$119 million; and non-GAAP operating expense of $94 million-$102 million. R&D expense for 2017 is forecast in the range of $75 million-$83 million (GAAP), $69 million-$75 million (non-GAAP).  Revance’s cash and investments balance of $185 million, as of Dec. 31, 2016, is expected to fund operations into the third quarter of 2018.…

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FridayJan 06, 2017 1:43 pm

NetworkNewsBreaks – Zogenix, Inc. (NASDAQ: ZGNX) Names Biotech Veteran as New CFO

As part of its ongoing relocation of all corporate functions, Zogenix (NASDAQ: ZGNX) reports that Michael P. Smith will succeed the departing CFO, EVP and treasurer and secretary, Ann D. Rhoads. Rhoads will continue in her roles with Zogenix until January 16, 2017, at which point she will provide consulting services to help the company complete its 2016 year-end audit and related filings for the calendar year ended December 31, 2016. Smith brings to the table 18+ years of experience in senior executive roles at public and private biotechnology companies. He has also managed and led over $3 billion of transactions,…

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FridayJan 06, 2017 1:36 pm

NetworkNewsBreaks – eMagin Corp. (NYSE: EMAN) Establishes Foundation for Strong 2017

eMagin (NYSE: EMAN) wrapped up a firm fourth quarter that demonstrated the company’s momentum heading into 2017. After launching two products in the final months of 2016, eMagin earlier this week said it will exhibit its products at CES 2017, an annual global consumer electronics and consumer technology tradeshow held this month in Las Vegas. By appointment, eMagin will showcase its highest brightness, direct patterned micro-displays designed for the virtual reality (VR) and augmented reality (AR) markets. The company’s award-winning BlazeSpark smartphone attachment and the BlazeTorch goggles will also be on display. “I am pleased to report we achieved what…

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WednesdayJan 04, 2017 12:28 pm

NetworkNewsBreaks – Concordia International Corp.’s (NASDAQ: CXRX) Shares Buoyed by Agreement with RedHill Biopharma Ltd. (NASDAQ: RDHL)

Concordia International (NASDAQ: CXRX) is trading nearly 4% higher a day after the pharmaceutical company announced its three-year, co-promotion agreement with RedHill Biopharma Ltd. (NASDAQ: RDHL) to expand sales of Donnatal®, Concordia's product used in the treatment of irritable bowel syndrome. Per the agreement, RedHill will aim to increase the promotion of Donnatal® among U.S. doctors who treat irritable bowel syndrome. Additionally, RedHill will incur the sales and marketing costs while Concordia will provide materials and samples. Marketing efforts are anticipated to begin during the current quarter. "This agreement is a cost-effective approach to promoting Donnatal® in a manner consistent…

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WednesdayJan 04, 2017 12:15 pm

NetworkNewsBreaks – Evoke Pharma, Inc. (NASDAQ: EVOK) Shares Surge on Positive Data from Phase 3 Gimoti Study

Shares of Evoke Pharma (NASDAQ: EVOK) are 35% higher in morning trade after the company reported positive data from its phase 3 trial of Gimoti for symptomatic relief of acute and recurrent diabetic gastroparesis. While the study failed to reach its primary endpoint, Gimoti “significantly” reduced nausea and abdominal pain in moderate to severe patients. Evoke notes that the results are consistent with FDA guidance on the clinical evaluation of drugs used to treat gastroparesis. “As our discussions with the FDA progressed over the past few months, we have continued to analyze data from our Phase 3 trial of Gimoti…

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FridayDec 30, 2016 12:39 pm

NetworkNewsBreaks – SuperCom (NASDAQ: SPCB) Secures $9M Contract with Large South American Country; Commences Project Today

SuperCom (NASDAQ: SPCB) this morning announced that, together with its local partner, the company has been awarded a $9 million contract by a large South American government customer to migrate and implement SuperCom's proprietary secured web-based Land and Geographical Registration and Information Management System nationwide. Project commencement is expected today and completion is anticipated by July 2018. SuperCom said it expects to achieve the majority of the contract value in 2017. "We, together with our local partner, have been given an opportunity to deploy our technology as part of a meaningful government process and gain trust while building a new…

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WednesdayDec 28, 2016 12:33 pm

NetworkNewsBreaks – Ecoark Holdings, Inc. (EARK) Offers Pallet-Level Quality Management with Zest Labs Solutions

According to the Food and Agriculture Organization's (FAO) “Global Food Losses and Food Waste” report, there is still over 30% of post-harvest waste between the farm, retail and consumer, which is why Ecoark Holdings, Inc. (OTCQX: EARK) - through its subsidiary Zest Labs - offers mobile and office-based solutions to help with pallet-level quality management from harvest to store. Whether it’s in the field or from the office, companies using the Zest Labs solutions are now able to view every operational action of their business in real-time. The solutions include pallet-level time and temperature tracking, pre-cool prioritization and monitoring, the…

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TuesdayDec 27, 2016 11:36 am

NetworkNewsBreaks – DryShips, Inc. (NASDAQ: DRYS) Enters Into $200M Stock Purchase Agreement, Plans to Boost Fleet and Earnings Capacity

DryShips (NASDAQ: DRYS) this morning said it has entered into an agreement with Kalani Investments Limited, an entity organized in the British Virgin Islands, allowing the company to sell up to $200 million of its common stock to Kalani over a 24-month period. DryShips has also agreed to issue up to $1.5 million of its common stock to Kalani as a commitment fee. "We are very excited to now have the ability to raise up to $200 million of equity having full control of the timing. Together with available liquidity in excess of $120 million we are now in a…

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