On Thursday, Shares of Novavax, Inc. (NASDAQ:NVAX), included 1.55 % and shut at $1.31 inside the end purchasing and offering session. The last exchanging scope of the stock ranges amongst $1.26 and $1.34. Novavax, Inc., (NVAX) recently declared its financial results for the third quarter and nine months ended September 30, 2016, in conjunction with its Shareholder and Analyst Day update.
The Company presented a restructuring plan designed to meet the following key objectives:
Prioritize development activities to achieve clinical data events within 2017;
Reduce cash burn, extend financial horizon and minimize near-term dilution; and
Maintain operational core competencies to execute development plans.
The restructuring includes an immediate reduction in workforce of about 30%. The Company anticipates to incur one-time restructuring costs of about $3 million to $4 million, counting severance expenses, in the fourth quarter of 2016. In addition, administration has initiated expense reduction measures regardingpre-commercialization activities, capital equipment investments, project specific and general research and development, and general and administrative expenses. As a result of the restructuring, Novavax estimates a reduction in cash burn of $70 million to $100 million in 2017 relative to 2016.
Shares of General Mills, Inc. (NYSE:GIS), added 0.16 % and shut at $61.36 inside the last exchanging session. The rest of the purchasing and offering scope of the stock levels among $60.97 and $61.69. The association’s commercial center capitalization is $36.32 Billion with the general uncommon loads of 591.38 million. General Mills, Inc. manufactures and markets branded consumer foods in the United States. It operates in three segments: U.S. Retail, International, and Convenience Stores and Foodservice. The company offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain and fruit and savory snacks, stable and frozen vegetables, and ice cream and frozen desserts, in addition to various organic products, counting meal kits, granola bars, and cereal. The company markets its products under the Annies, Betty Crocker, Bisquick, Bugles, Cascadian Farm, Cheerios, Chex, Cinnamon Toast Crunch, Cocoa Puffs, Cookie Crisp, Fiber One, Food Should Taste Good, Fruit by the Foot, Fruit Gushers, Fruit Roll-Ups, Gardettos, Go-Gurt, Gold Medal, Golden Grahams, Häagen-Dazs, Assisters, Jenos, Jus-Rol, Kitano, Kix, La Salteña, Lärabar, Latina, Liberté, Lucky Charms, Muir Glen, Nature Valley, Oatmeal Crisp, Old El Paso, Pillsbury, Progresso, Raisin Nut Bran, Total, Totinos, Trix, Wanchai Ferry, Wheaties, Yoki, and Yoplait names. General Mills, Inc. also supplies branded and unbranded food products to the foodservice and commercial baking industries. It sells its products directly, in addition to through broker and distribution arrangements to grocery stores, mass merchandisers, membership stores, natural food chains, e-commerce grocery providers, commercial and noncommercial foodservice distributors and operators, restaurants, and convenience stores, in addition to drug, dollar, and discount chains. The company operates 530 ice cream parlors; and franchises 344 branded ice cream parlors. General Mills, Inc. also exports its products mainly to Caribbean and Latin American markets.