Pengrowth Energy Board Approves Commitment and 1 Stock Hitting 52-Week Lows
Pengrowth Energy Cor (NYSE:PGH) has announced that its Board of Directors approved a commitment of $55 million to be used for critical path related, long lead time equipment for the Lindbergh thermal bitumen project. Nearly $20 million of this amount is to be committed by the end of 2012, with the balance to be spent during 2013. The shares closed at $5.82, down $0.18 or 3 percent on the day. They have traded in a 52-week range of $5.79 to $11.17.
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Ventrus Biosciences (NASDAQ:VTUS) focuses on the development and the commercialization of gastrointestinal products, and it has announced that, after obtaining written feedback from the U.S. FDA, the company predicts that it will file a new drug application, or NDA, for diltiazem hydrochloride cream, or VEN 307, in anal fissures after it completed a second Phase 3 study. Ventrus has begun enrolling in its second Phase 3 pivotal trial. Results are expected early during Q4 of 2013, and assuming a successful outcome, the company expects to file an NDA during Q4 of 2013 with an anticipated PDUFA date at the end of 2014. Additionally, Ventrus obtained specific guidance on the rest of the company’s toxicology programs, clinical cutaneous safety studies, and PK study required for the NDA and all programs have commenced. The shares closed at $2.84, down $0.23 or 7.49 percent on the day. They have traded in a 52-week range of $2.95 to $13.53.