Friday, December 19, 2014

Archive: May, 2010

POSTED: Tuesday, May 18, 2010, 12:26 PM

More than five weeks after Tengion Inc. netted $26 million from its initial public offering, another local life-sciences company hopes to travel the same path.

NuPathe Inc. of Conshohocken filed a registration statement with the Securities and Exchange Commission on Friday seeking to raise $86.3 million.

The specialty pharmaceutical company, which had 21 employees as of April 30, has been working on Zelrix, a single-use skin patch to treat migraines.

POSTED: Monday, May 17, 2010, 12:17 PM

NuPathe Inc., of Conshohocken, hopes to raise $86.3 million in an initial public offering, according to a regulatory filing on Friday.

The preliminary prospectus does not list the number of shares NuPathe intends to issue or any price range.

The specialty pharmaceutical company has been working on Zelrix, a single-use patch to treat migraine. In a filing with the Securities and Exchange Commission, NuPathe said it completed a Phase III clinical trial in July 2009 and expects to submit a new drug application with the Food and Drug Administration in the fourth quarter of this year.

POSTED: Monday, May 17, 2010, 8:16 AM

I’m feeling whipsawed lately with many economic statistics showing improvement, but the stock market - a leading indicator - flashing caution.

I think my unease comes from the difference in the extent of the changes in each day’s economic data versus how world equity markets close each session. The wild gyrations of the stock market have been overshadowing the slow, deliberate gains being fashioned in the economic recovery.

The Dow Jones industrial average has had 11 days of triple-digit moves since April 26. Most of them were down, including that wacky 347.80-point plunge on May 6.

POSTED: Friday, May 14, 2010, 8:13 AM

You’re more likely to see Ben S. Bernanke testifying before a congressional panel than shaking hands with pipe fitters and welders at the Philadelphia Navy Yard.

But that’s just where the Federal Reserve chairman was Thursday morning.

Bernanke, like so many schoolchildren and tourists before him, went on a field trip to Philadelphia. But instead of visiting the Liberty Bell or Independence Hall, the United States’ banker-in-chief toured Tasty Baking Co.’s production lines and stood amid the steel hulks of Aker Philadelphia Shipyard.

POSTED: Thursday, May 13, 2010, 3:33 PM

Federal Reserve chairman Ben S. Bernanke toured the new Tastykake factory and shook hands with shipyard workers on a visit to Philadelphia this morning.

Staff with the central bank said the chairman was keen to see the progress Philadelphia has made in transforming the Philadelphia Navy Yard since the military closed the shipyard in the mid-'90s.

Bernanke made no official remarks as reporters and photographers followed the nation's banker-in-chief and Tasty Baking CEO Charles Pizzi along the observation area over the snack-food maker's new production lines. Later, Bernanke talked with two workers about how the new factory has changed their jobs.

POSTED: Thursday, May 13, 2010, 2:44 PM

It’s clear from its latest investments where Ben Franklin Technology Partners of Southeastern Pennsylvania has been putting its energy.

That would be the energy sector.

This week, the state-funded economic development group disclosed it would invest about $2.03 million in eight early-stage companies. Of that, $1.35 million went to four involved in alternative energy or energy efficiency.

POSTED: Wednesday, May 12, 2010, 11:43 AM

Biotechnology firms burn through tens of millions of dollars of cash trying to prove their novel therapies work.

In 10 days, the federal government is going to tell them how they might be able to recoup some of those expenses.

The recently passed health-overhaul legislation contains $1 billion for biotechnology firms with fewer than 250 employees to claim a tax credit or receive a cash grant. (Big Pharma need not apply.)

POSTED: Tuesday, May 11, 2010, 7:25 AM

Federal Reserve chairman Ben S. Bernanke will travel to Philadelphia Thursday to participate in a conference on reinventing older communities.

The three-day conference, which is being sponsored by the Federal Reserve Bank of Philadelphia, will be a deep dive into all things real estate aimed at policymakers, community development professionals, and bankers.

Lots of sessions carry titles such as “Rethinking Who Should be a Homeowner” and “Reclaiming Distressed Properties.”

About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

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