Mast Therapeutics (MSTX) CMO to Depart, Replacement Named Aug 29, 2014 04:06PM

Mast Therapeutics, Inc. (NYSE: MSTX) announced today that Santosh Vetticaden, Chief Medical Officer and Senior Vice President, will be leaving the Company, for personal reasons, in mid-September. Edwin L. Parsley, D.O., the Chief Medical Officer of Aires Pharmaceuticals, which Mast acquired earlier this year, will assume Dr. Vetticaden's former responsibilities as the Company's interim Chief Medical Officer. Dr. Parsley previously was with Pfizer, where he oversaw clinical trials for Revatio® (sildenafil). He is a practicing physician and certified by the American Board of Internal Medicine in internal medicine, pulmonary disease, critical care medicine, and sleep medicine. Dr. Parsley has been actively engaged with the Company since Aires was acquired by Mast in February 2014.

"We want to thank Santosh for his many contributions and wish him the very best in his future endeavors," said Brian Culley, Chief Executive Officer. "Santosh has put in place a strong clinical operations group that has us well-positioned to advance our programs through late-stage development. In addition to executing a successful QT study last year, his team is actively recruiting patients in EPIC, our pivotal Phase 3 study, at more than 50 U.S. and international sites. They are also actively recruiting patients in our Phase 2 combination study with MST-188 and r-tPA in acute limb ischemia, and have us poised to launch a third clinical study in heart failure next year. Santosh accomplished much during his tenure and leaves us with the people and infrastructure to achieve four clinical study read-outs over the next 12 to 18 months."


Donegal Group, Inc. (DGICA) Reports CEO on Medical Leave Aug 29, 2014 04:01PM

Donegal Group Inc. (Nasdaq: DGICA) (Nasdaq: DGICB), announced today that its chief executive officer, Donald H. Nikolaus, will be on a temporary medical leave of absence.

The Board has named Kevin G. Burke to serve as DGI's acting chief executive officer during Mr. Nikolaus' recovery period. Mr. Nikolaus will continue to serve as President and Chief Executive Officer of Donegal Mutual Insurance Company and his other Donegal positions while he recovers. Mr. Nikolaus stated, "I am committed to remain as active as I can be in our business as my health permits and plan to return at the conclusion of my medical leave. I am confident that Kevin Burke and the other members of our experienced management team will successfully execute our strategic business plans."


American Airlines Group (AAL)/Orbitz Worldwide (OWW) Reach Agreement; American Airlines Back on Orbitz Sites Aug 29, 2014 03:59PM

Orbitz Worldwide (NYSE: OWW) announced today that it had reached an agreement with American Airlines to continue to offer American Airlines (NYSE: AAL) and US Airways flights on all of its sites. Consumers should see all available flights immediately. All tickets previously purchased on Orbitz Worldwide sites remain valid.

"We are pleased that our long-standing relationship with American Airlines allowed us to quickly resolve business matters and that we continue to offer a broad range of options, including American Airlines and US Airways flights, to the millions of shoppers who book travel on our global sites each day," said Sam Fulton, president of Orbitz.com.


Ormat Technologies (ORA) Signs $140M Loan to Finance Construction at McGinness Hills Aug 29, 2014 02:33PM

Ormat Technologies, Inc. (NYSE: ORA) today announced that its wholly-owned indirect subsidiary, OFC 2 LLC, and its project subsidiaries ("Ormat"), have signed a $140 million loan to finance the construction of the McGinness Hills Phase 2 project in Nevada. The plant is expected to come on line in the first half of 2015, bringing the complex's total capacity to approximately 70 MW. Ormat is selling energy produced at McGinness Hills to NV Energy under contract through December 2032.

This drawdown is the last tranche under the Note Purchase Agreement with John Hancock Life Insurance Company (USA) and guaranteed by the U.S. Department of Energy's Loan Programs Office in accordance with and subject to the Department's Loan Guarantee Program under Section 1705 of Title XVII of the Energy Policy Act of 2005.

The $140 million loan, which matures in December 2032, carries a 4.61% coupon with principal paid quarterly. The OFC 2 Notes, which includes loans for the Tuscarora, Jersey Valley and McGinness Hills complexes, is rated "BBB" by Standard & Poor's.

Mr. Isaac Angel, CEO of Ormat Technologies, said, "We are excited to close on this financing and expand capacity at McGinness Hills. The low-risk phased approach to development enables us to secure financing on such attractive terms. With the financing secured, we will be able to free up capital to continue to take advantage of developing opportunities across the globe and enhance returns for shareholders."


Vicon Industries (VII) Completes IQinVision Merger; Sets Special Dividend Payment Date Aug 29, 2014 02:25PM

Vicon Industries, Inc. (AMEX: VII) has completed the previously announced merger with IQinVision, Inc. (“IQinVision”), a designer and producer of high performance HD/megapixel IP cameras. The merger creates a global market leader of integrated solutions to the video security market.

Today’s announcement follows shareholder approval of the issuance of Vicon common stock in connection with the merger by the Vicon shareholders at their Annual Meeting held on August 28, 2014 and of the Merger Agreement and the transactions contemplated thereby by the IQinVision shareholders by written consent.

As a result of the merger, the shareholders of Vicon and IQinVision each own approximately 50% of the outstanding shares of common stock of Vicon.

Vicon Chairman and CEO Ken Darby said of the merger, “we are delighted to join forces with IQinVision. The combination of highly regarded brands within the security industry allows us to bring a compelling and completely proprietary video solution to our customers.”

The board of directors of Vicon following the merger consists of three continuing directors of Vicon (Messrs. Kenneth M. Darby, Arthur D. Roche and Julian A. Tiedemann) and three directors designated by IQinVision (Mr. Charles Chestnutt, Ms. Gioia Messinger and Mr. Joseph Budano).

Vicon also announced today that it has set a payment date of September 12, 2014 for the special cash dividend of $0.55 per common share payable to Vicon shareholders of record as of the close of business on July 11, 2014, which was previously announced, but conditioned upon the closing of the merger.


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