Worth Watching Stocks Watch List: Procter & Gamble Co (NYSE:PG), Mast Therapeutics Inc (NYSEMKT:MSTX), Western Digital Corp (NASDAQ:WDC)

On Wednesday, Shares of Procter & Gamble Co (NYSE:PG), added 0.57% and closed at $88.85 in the last trading session. The last trading range of the stock ranges between $88.21 and $89.00. The People’s Choice Awards and CBS declared recently that PEOPLE’S CHOICE AWARDS 2017 will air live on Wednesday, January 18, 2017 (9:00-11:00 PM, ET/delayed PT) from Microsoft Theater in Los Angeles on the CBS Television Network.

Mark Burnett, President of MGM Television and Digital, will return for the eighth successive year as Executive Producer of the show. Also returning, Jane Mun, Kimmie H. Kim and Fred Nelson will serve alongside Burnett as Executive Producers of the telecast.

“It is an honor to be back again and work with a team that is one of the finest in the business,” said Burnett. “This show is so unique as the fans get to choose all the winners and it is up to them who comes to the stage. We are looking forward to another great event.”

Mast Therapeutics Inc (NYSEMKT:MSTX), REMAIN FLAT  and closed at $0.100 in the last trading session. The last trading range of the stock ranges between $01.10 and $0.10. The company’s Market capitalization is $19.59 Million with the total Outstanding Shares of 211.82 Million. Mast Therapeutics, Inc. (NYSE MKT: MSTX) recently offered an update related to its business strategy and the clinical development of its product candidates.

The Company’s cash, cash equivalents, and investment securities were $30.3 million at August 31, 2016.

The Company will focus on clinical development of AIR001 (sodium nitrite solution for intermittent inhalation) for the treatment of heart failure with preserved ejection fraction (HFpEF).  Specifically, during 2016 and 2017, the Company will continue to support three ongoing investigator-sponsored Phase 2 clinical studies of AIR001 being conducted at prestigious research institutions.

The Company has begun to wind down its vepoloxamer programs in sickle cell disease and heart failure and anticipates those activities will be accomplished in the fourth quarter of 2016.

While furthering the development of AIR001 through the ongoing Phase 2 clinical studies, the Company is planning to initiate a process to evaluate partnership opportunities for its assets.

As a result of cost savings anticipated by the termination of its vepoloxamer clinical programs and related operations and the prioritization of its AIR001 program, the Company estimates that its operating expenses for 2017 will be in the range of $9 to $10 million, apart from share-based compensation expense.  This anticipated level of spend reflects an approximate 70% reduction from estimated operating expenses for 2016 of about $32 to $34 million, apart from share-based compensation expense.

The Company will make the $10 million prepayment on its debt facility triggered by the recently declared results of its Phase 3 study of vepoloxamer in early October 2016.  After that prepayment, the principal amount of the Company’s debt will be about $3.5 million, which is planned to be repaid in equal monthly installments of principal and interest through January 1, 2019.

Western Digital Corp (NASDAQ:WDC), gained 0.94% and closed at $59.24 in the last trading session. The last trading range of the stock ranges between $58.19 and $59.69. During the 52-week trading session the minimum price at which share price traded, registered at $34.99 and reached to max level of $86.39. Western Digital Corp. (WDC) recently declared that the company plans to release its financial results for the first fiscal quarter ended Sept. 30, 2016 after the close of the market on Wednesday, Oct. 26, 2016. The investment community conference call to discuss these results will be broadcast live over the Internet that day at 2 p.m. Pacific/5 p.m. Eastern. The live and archived conference call/webcast can be accessed online.

Leave a Reply

Your email address will not be published. Required fields are marked *