Pennsylvania Real Estate Investment Trust (NYSE:PEI) reported that its Board of Trustees has declared a quarterly cash dividend of $0.15 per common share, PEI’s 135th consecutive distribution since its initial dividend paid in August of 1962.
The dividend will be paid on December 15, 2010 to common shareholders of record on December 1, 2010.
PWRM, Power 3 Medical Products Inc., PWRM.OB has signed a definitive agreement recently to acquire all of the stock of Rozetta-Cell Life Sciences, Inc. Power3 plans to effectuate the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into Power3, with Power3 remaining as the surviving company in the merger. The acquisition of Rozetta-Cell is expected to be completed in October or November 2010.
Rozetta-Cell is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. The company has a robust intellectual property portfolio and has created numerous products for adult stem cell therapy that are ready for market globally. Rozetta-Cell also has several collaborations in process through which it is partnering with industry-leading adult stem cell research companies and adult stem cell vendors.
Power3 Medical Products, Inc. is a leading bio-technology company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases such as Alzheimer’s disease, Parkinson’s disease and amyotrophic lateral sclerosis (commonly known as ALS or Lou Gehrig’s disease). Power3 applies proprietary methodologies to discover and identify protein biomarkers associated with diseases.
Through these processes, Power3 has developed a portfolio of products including BC-SeraPro™, a proteomic blood serum test for the early detection of breast cancer for which it has completed Phase I clinical trials, and NuroPro, a proteomic blood serum test for the detection of neurodegenerative diseases, including Alzheimer’s, Parkinson’s and ALS diseases, for which it is currently engaged in Phase II clinical trials.
These tests are designed to analyze an individual’s proteins to detect the presence of disease, a patient’s disease progression, a patient’s response to a particular drug, and the mechanisms of disease present in the patient for optimal targeted therapy.
Standard Register (NYSE:SR) reported its financial results for the third quarter, which ended October 3, 2010.
For the quarter, SR reported revenue of $163.6 million and a net profit of $1.4 million, or $0.05 per share. The third quarter results compare to last year’s revenue of $163.5 million and a net loss of $5.5 million, or $0.19 per share, which included $10.6 million, or $0.22 per share after tax, of restructuring expense primarily related to the MyC3 strategic earnings improvement initiative announced during the quarter.
Through the first nine months, SR reported revenue of $495.7 million and a net profit of $0.5 million, or $0.02 per share. The first nine-month results compare to last year’s revenue of $509.2 million and a net loss of $13.3 million, or $0.46 per share, which in addition to the MyC3 restructuring incurred during the quarter, included pension settlement charges of $20.4 million, or $0.43 per share after tax.
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) reported a cash distribution of $0.390 per unit for the third quarter 2010, or $1.56 per unit on an annualized basis, for all of its outstanding units.
This distribution represents an increase from the second quarter distribution of $0.3825 per unit, or $1.53 per unit on an annualized basis. The distribution will be payable on November 12, 2010 to the record holders of common units at the close of business on November 9, 2010.
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