Kite Pharma’s Shares Fall After Q4 Loss
Despite detailing a year full of landmark deals in its 2014 earnings report, Santa Monica biotech firm Kite Pharma Inc.’s shares fell 7.26 percent to $57.75 on Thursday.
The clinical-stage company reported 2014 net loss of $43.7 million (-$1.91 a share), compared to a net loss of $7.8 million (-$1.43 a share) for 2013. Analysts had expected a narrower loss.
SunCal Makes $130 Million Land Purchase in Arts District
Irvine developer SunCal, which specializes in building large, mixed-use communities, has purchased a 14.6-acre site at Sixth and Alameda streets in downtown Los Angeles for $130 million, said Bradford McCarthy, a CBRE Group Inc. senior vice president who represented the seller.
A fund affiliated with MSD Capital, computer baron Michael Dell’s private investment firm, also partnered with SunCal on the deal, according to SunCal spokesman Joe Aguirre. SunCal plans to organize community meetings as well as work with city officials to get input about possible mixed-use plans for the land.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Stocks Mixed; NetSol Soars, Kite Pharma Sinks
- Kite Pharma Stock Surges After Cancer Study Announcement
- Gilead Sciences and Kite Pharma Acquire Cell Design Labs
- Health Net, Kite Pharma Among This Week’s Movers
- Drug Study’s Results Test Investors’ Confidence
- Stamps.com, Motorcar Parts of America Among Week’s Big Movers
- Kite Pharma, RealD Among Week’s Big Movers
- Gilead Buys Santa Monica’s Kite Pharma in $12 Billion Cancer-Drug Deal