MannKind Corporation (NASDAQ:MNKD) released its closing of worldwide licensing contract with Sanofi SA (ADR) (NYSE:SNY). That will receive a $150M upfront payment surrounded by ten days of the closing. The firm reported that the closing of a global exclusive collaboration and licensing contract with Sanofi for development and commercialization of Afrezza Inhalation Powder. The closing after completion of the US Federal Trade Commission’s review of the transaction under the Hart-Scott-Rodino Act in addition to the completion of documentation related to the $175M loan facility being provided to MannKind by an affiliate of Sanofi in connection with the collaboration and license contract. Under the terms of the partnership and license contract, MannKind will get a $150M upfront payment within ten days of the closing.
Magnum Hunter Resources Corp (NYSE:MHR) jumped around 10% in last trading session after it declared that throughput volumes on Eureka Hunter’s gas gathering pipeline system situated in West Virginia and Ohio have increased to around 316,500 MMBtu per day. Triad Hunter, a wholly-owned subsidiary of the firm, is producing around 35 percent of the volumes that are after from side to side the Eureka Hunter Pipeline System. The firm estimates Eureka Hunter to be flowing around 400,000 MMBtu per day of natural gas throughput volumes by year-end due to significant extension of production additions from Triad and third-party producers with the intention of are tied into the system throughout this region.
Laboratory Corp. of America Holdings (NYSE:LH) plunged 1.78% on Thursday as LipoScience to be purchased by firm for a acquire price of $5.25 per share in cash, or a transaction worth of $85.3M that represents a total enterprise value of $63M. The BOD of LipoScience has unanimously permitted the contract and recommended approval of the transaction by LipoScience’s stockholders.
Pacira Pharmaceuticals Inc (NASDAQ:PCRX) dropped around 11% in last session as it reported that it receipt of FDA warning letter. The firm released that the receipt of a Warning Letter from the U.S. FDA Office of Prescription Drug Promotion referencing positive promotional materials on EXPAREL: they aim to explain their position to the FDA as well as it will provide an update upon resolution of these issues.