(NAVB, HCC, MJGCF, MMC, MW) Stocks in Focus by DrStockPick.com
Navidea Biopharmaceuticals, Inc. (NYSE Amex: NAVB), a specialty pharmaceutical company focused on precision diagnostic radiopharmaceuticals, announced that it has entered into an option agreement with Alseres Pharmaceuticals, Inc. (Alseres) to license [123I]-E-IAFCT Injection, also called Altropane®, an Iodine-123 radiolabeled imaging agent, being developed as an aid in the diagnosis of Parkinson’s disease and movement disorders.
“This option agreement has effectively secured the right for Navidea to obtain a license for [123I]-E-IAFCT within the next six months. Should we exercise the option, [123I]-E-IAFCT would provide us not only with another strong Phase 3 diagnostic imaging asset, but also one that has great synergy with our AZD4694 PET imaging agent which we are developing as an aid in the diagnosis of Alzheimer’s disease. Together, we believe these programs provide us with a robust franchise in precision neuro-imaging diagnostics,” said Dr. Thomas Tulip, EVP and Chief Business Officer of Navidea.
“The diagnostic dilemma in movement disorders remains a pressing medical need. It is difficult for physicians to differentiate Parkinson’s disease from non-degenerative movement disorders, especially during the period soon after onset of symptoms, where diagnostic uncertainty and inaccuracy can be high,” said Dr. Tulip. “Having worked with this agent previously, I am very familiar with its strong performance characteristics and potential marketplace advantages. We believe that [123I]-E-IACFT has the potential to be a best-in-class imaging agent to improve diagnostic accuracy in this class of disorders.”
Navidea Biopharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of precision diagnostics and radiopharmaceutical agents. Navidea is actively developing three radiopharmaceutical agent platforms – Lymphoseek®, AZD4694 and RIGScanTM – to help identify the presence and status of undetected disease and enable better diagnostic accuracy, clinical decision-making and ultimately patient care.
More about NAVB at www.navidea.com.
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HCC Insurance Holdings, Inc. (NYSE:HCC) announced its preliminary estimate for fourth quarter 2011 catastrophe losses, after reinsurance and reinstatement premium, of $10.0 million pretax ($6.5 million after-tax). These losses relate to flooding in Thailand and impacted the Company’s property insurance and property treaty lines of business in the International segment.
HCC Insurance Holdings, Inc. underwrites non-correlated specialty insurance products worldwide.
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Majestic Gold Corp. (MJGCF.PK)
Majestic Gold Corp. engages in the exploration and development of mineral properties in China. The company focuses on its gold project located in the prolific gold region of Song Jiagou in eastern Shandong Province. Majestic Gold Corp. is headquartered in Vancouver, Canada.
The chemical symbol for Gold is “Au”. Gold melts at approximately 1,064 degrees Centigrade or 1,947 degrees Fahrenheit. Gold weighs 19.3 times more than an equal volume of water. One troy ounce of gold equals 1.097 ordinary ounces. One gram of gold equals .03215 troy ounces. Pure gold (100%) equals 24 karats while 18 karat gold is 75% gold and 25% other metal.
Majestic Gold Corp. (MJGCF.PK) has arranged a $10,000,000 loan to advance its Song Jiagou project in China. Nine million dollars ($9,000,000) from the proceeds from the loan will be used by the Company to in connection with its Song Jiagou project and the balance of one million dollars ($1,000,000) for general working capital purposes.
The loan will have a one year term and loan principal will be convertible at the option of the lender in whole or in part into common shares (”Shares”) of the Company until twelve months from the date of the loan advance at the price of $0.205 per Share. The loan will bear interest at the rate of 7.5% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into shares of the Company until twelve months from the date of the loan advance at Market Price at the time of conversion.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. The loan is subject to acceptance by the TSX Venture Exchange.
As additional consideration for the loan, the Company has agreed to forward at least $9 million to Majestic Yantai Gold Ltd., a British Virgin Islands company owned 94% by the Company to be used to further advance its Song Jiagou project. The Borrower has also agreed to a 90 day period for reciprocal due diligence reviews and discussions for the possible further involvement of the Lender in the Song Jiagou project.
In the event that no further agreement is reached between the Lender and the Company during the 90 day period, then the loan and a minimum of seven (7) months interest will automatically convert to shares in the Company at a price of $0.205 per share and the interest at Market Price respectively. In addition the Company is pleased to announce that it has arranged a non-brokered private placement of up to 15,000,000 shares to be issued at the price of $0.20 per share for gross proceeds of $3,000,000.
For more information about company: www.majesticgold.net
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Marsh & McLennan Companies, Inc. (NYSE:MMC), a global professional services firm providing advice in risk, strategy and human capital, plans to announce fourth quarter and full-year 2011 results on Tuesday, February 14, 2012 in a news release to be issued before the market opens. The release will also be available on the Marsh & McLennan Companies website at www.mmc.com. Brian Duperreault, President and CEO of Marsh & McLennan Companies, Dan Glaser, Group President and COO, and Vanessa Wittman, Executive Vice President and CFO, will lead a discussion with investors on financial results at 8:30 a.m. Eastern Time on February 14. The discussion will include a question-and-answer period.
Marsh & McLennan Companies, Inc., a professional services company, provides advice and solutions in the areas of risk, strategy, and human capital. It operates in two segments: Risk and Insurance Services, and Consulting.
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Men’s Wearhouse, Inc. (NYSE:MW) announced that its Board of Directors declared a quarterly cash dividend of $0.18 per share on the Company’s common stock, payable on March 23, 2012 to shareholders of record at the close of business on March 13, 2012.
The Men’s Wearhouse, Inc. operates as a specialty retailer of men’s suits in the United States and Canada.
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Tags: HCC Insurance, Majestic Gold, Marsh & McLennan, Men's Wearhouse, MJGCF, NYSE:HCC, NYSE:MMC, NYSE:MW, Stocks In Focus
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