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Los Angelas, CA -- (SBWIRE) -- 01/08/2013 -- AVEO Pharmaceuticals (NASDAQ:AVEO) is looking for the FDA to approve its kidney cancer treatment drug called tivozanib. Specifically, it is used in the treatment of renal cell carcinoma and it is a potential first-line treatment for the disease. Recognizing the potential impact of the drug, the company has taken steps to shore up its finances so that it can effectively market it if it is approved. The goal is to save $100 million over the next three years, which could do wonders for investor confidence in the company. Observers note that the renal cell carcinoma space is getting crowded, although it is still considered relatively large. Pfizer had the largest share of the space in 2011, capturing about $1.2 billion of the sales worldwide. AVEO Pharmaceutic (NASDAQ:AVEO) is very actively traded between $8.49 - 8.73 with total traded volume of 392630 shares. At a current price of 8.69, AVEO is +0.0894 - +1.04% from the previous close of $8.6006. Moreover, At Current Market Price, AVEO is in distance of +23.85% from its 50-day Moving Average price of $7.0164 and -6.68% from its 200-day Moving Average price of $9.312.
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Hampton Roads Bankshares, Inc. (NASDAQ:HMPR) the holding company for The Bank of Hampton Roads ("BHR") and Shore Bank, today announced that it has completed the relocation of its corporate offices to 641 Lynnhaven Parkway in Virginia Beach. In addition to housing the Company's corporate officers, the Lynnhaven Parkway offices also house Human Resources, Accounting and Treasury, Facilities Management, Legal, Risk Management, Compliance, Security and Special Assets staff for the Company and BHR. Douglas J. Glenn, President and Chief Executive Officer of the Company and Chief Executive Officer of BHR, said, "This relocation represents another step in returning to the Company's roots as a community bank, while also reducing our operating expenses by better utilizing facilities we own. We are proud to be the largest community bank by assets headquartered in Virginia Beach, and committed to earning a place as the most meaningful community bank in every community we serve."
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