Orlando, FL -- (SBWIRE) -- 09/12/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On AK Steel Holding Corporation(NYSE:AKS), Inovio Pharmaceuticals Inc(NYSEMKT:INO).
AK Steel Holding Corporation(NYSE:AKS), a subsidiary of AK Steel Holding Corporation, has completed exchange offering of up to $380 million in aggregate principal amount of its 8.75% senior secured notes due 2018 for an equal aggregate principal amount of its registered 8.75% senior secured notes due 2018.
Also, AK Steel posted a narrower loss in the second quarter. The net loss was $40.4 million or 30 cents a share in the quarter, 94% lower from last year. The company had posted a loss of $724.2 million or $6.55 a share in the year-ago quarter. Excluding special items, AK Steel’s loss for the quarter was 15 cents per share. Analysts had estimate a loss of 35 cents.
Revenues dropped 8.7% year over year to $1,404.5 million thanks to lower shipments to carbon spot and electrical steel markets. The Street had expected $1,414 million.
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Inovio Pharmaceuticals Inc(NYSEMKT:INO) has entered into a license agreement with Inovio Pharmaceuticals for a collaboration to commercialize Inovio's multi-antigen DNA immunotherapies for the treatment of prostate cancer and hepatitis B.
The agreement grants Roche license to Inovio's DNA-based prostate cancer vaccine INO-5150 and hepatitis B vaccine INO-1800. Roche can also use Inovio's CELLECTRA electroporation technology for delivery of the vaccines. Further, Roche has obtained an option to license additional vaccine opportunities in the field of oncology.
Roche will pay Inovio $10 million upfront followed by milestone payments of $412.5 million. There will also be additional development milestone payments to be paid to Inovio if Roche develops the vaccines for other indications. Inovio is entitled to royalties on sales.
Roche had announced the approval of a subcutaneous formulation of its oncology drug, Herceptin in Europe, for treating patients suffering from HER2+ breast cancer. The breast cancer franchise at Roche had clocked sales of CHF 3.3 billion in the first half of 2013.
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