Medbox Inc. shares jumped 17 percent on Friday to $1.65 after the West Hollywood marijuana dispensing firm filed its first annual report and first regulatory filing since restating previous years’ financials.
The West Hollywood company reported a net loss of $16.5 million (-0.55 cents a share) for last year, compared to a net loss of $3.79 million (-0.13 cents a share) the year before. Medbox had just $621,000 in revenue, down dramatically from $2.06 million the previous year.
LMU Names New President
Loyola Marymount University in Westchester has chosen Timothy Law Snyder as its new president, effective this June. He replaces David Burcham, who announced last fall he was stepping down after nearly five years at the helm.
Snyder was vice president for academic affairs at Loyola University Maryland, a Jesuit school in Baltimore. Previously he was dean of the College of Arts and Sciences at Fairfield University, a Jesuit school in Fairfield, Conn. He began his academic administrative career at Georgetown University in Washington D.C., rising to the post of dean of the College of Science.
Kirk Douglas Donates $2.3 million to Children’s Hospital
Veteran actor Kirk Douglas, along with his wife, Anne, are donating $2.3 million to Children’s Hospital Los Angeles to be used to purchase a Da Vinci surgical robot for the hospital’s division of pediatric urology.
The surgical robot is designed to help doctors perform major operations that require smaller incisions and precise accuracy on babies and young children, using technology that will allow quicker recovery times, according to Chief of Urology Dr. Roger E. De Filippo. The money will also be used to help train physicians who use the equipment.