Verastem, Inc. (NASDAQ:VSTM) entered into a lease agreement with Intercontinental Fund III 117 Kendrick Street, LLC, as landlord, for approximately 15,197 square feet of space at 117 Kendrick Street in Needham, Massachusetts (the “Lease Agreement”). The Company intends to use the leased premises as its corporate headquarters and for laboratory purposes. The lease term commences on April 15, 2014. The Company must commence rent payments under the Lease Agreement on the earlier of: (i) December 1, 2014, or (ii) the date on which the initial improvements to build out the leased space are substantially complete (the “Rent Commencement Date”). The lease term expires on the last day of the 60th full month following the Rent Commencement Date. The Company has agreed to pay an initial annual base rent of approximately $492,838.71, which base rent increases after every twelve-month period during the lease term to $553,626.71 for the last twelve-month period. The Company has also agreed to pay its proportionate share of increases in operating expenses and property taxes for the building in which the leased space is located. Verastem Inc (NASDAQ:VSTM) shares after opening at $8.40 moved to $8.40 on last trade day and at the end of the day closed at $ 7.84. Company price to cash ratio in past twelve months was calculated as 2.00. Verastem Inc (NASDAQ:VSTM) showed a negative weekly performance of -11.81%.
Zacks initiated coverage on shares of Mediwound Ltd (NASDAQ:MDWD) in a research note issued on Wednesday, Analyst RN reports. The firm set a “hold” rating on the stock. Mediwound Ltd (NASDAQ:MDWD) shares fell -5.78% in last trading session and ended the day on $10.10. Mediwound Ltd (NASDAQ:MDWD) return on equity ratio is recorded as 74.90% and its return on assets is -30.80%.
The Compensation Committee of Oragenics, Inc. (NYSEMKT:OGEN) approved the 2014 performance objectives for the Company’s President and Chief Executive Officer, Dr. John Bonfiglio under his cash bonus plan. Dr. Bonfiglio’s employment agreement with the Company required the adoption of a bonus plan to provide for an annual bonus target of up to 50% of his annual base salary which currently equates to $147,500 (the “Bonus Target”). The Company put the bonus plan in place when Dr. Bonfiglio joined the Company. Oragenics Inc (NYSEMKT:OGEN) shares moved down -7.49% in last trading session and was closed at $2.10 while trading in range of $2.05 – $2.28 – Oragenics Inc (NYSEMKT:OGEN) year to date (YTD) performance is -25.27%.
ArQule Inc. (Nasdaq:ARQL) presented at the Needham 13th Annual Healthcare Conference on Wednesday April 9 2014 at 11:20 a.m. ArQule, Inc. (NASDAQ:ARQL) weekly performance is -3.01%. On last trading day company shares ended up $1.61. ArQule, Inc. (NASDAQ:ARQL) distance from 50-day simple moving average (SMA50) is -21.91%. Analysts mean target price for the company is $3.56.
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