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Mon. Aug. 13, 2012 Lawrence gets first solar installation Lawrence officials on Wednesday plan to celebrate the completion of the city’s first solar power installation, which sits atop Everett Mills in the downtown area. The 560-kilowatt rooftop project was built by the New York-based Soltas Energy for more than $2 million. According to company spokeswoman Teresa Zhao, the projects 2,000 solar panels are expected to generate enough energy to provide roughly half of the power needs at Everett Mills, a 525,000-square-foot commercial complex.	Advertisement
Deeper losses in Verastem earnings report Verastem, Inc., a Cambridge biopharmaceutical company focused on discovering and developing drugs to treat breast and other cancers by targeting cancer stem cells, Monday reported financial results for the quarter ended June 30, 2012 that showed a net loss of $6.8 million, as compared to net loss of $2.5 million for the previous quarter.
DARPA selects Aurora for Phoenix program Aurora Flight Sciences, which has a research and development operation in Cambridge, was recently selected by the US Defense Advanced Research Projects Agency (DARPA) for the Phoenix program to explore development of a new satellite morphology through creation of ‘‘satlets’’ capable of harvesting key components from retired spacecraft in earth orbit.
Rep. William Keating calls for Congressional hearing on alleged racial profiling by TSA at Logan airport Representative William Keating is calling for a Congressional hearing to investigate allegations of racial profiling by Transportation Security Administration officers at Logan International Airport.
Blue Cross Blue Shield, Healthbox partner to support innovative health care startups Blue Cross Blue Shield of Massachusetts and Healthbox, a company that supports early-stage health care innovation and entrepreneurship, announced Monday that they are leading a partnership to accelerate the businesses of ten Massachusetts-based health care companies. The companies are addressing issues that include patient engagement, provider effectiveness, and wellness.
Vermont still borrowing to pay for Tropical Storm Irene Vermont’s worst flooding in 75 years and the lowest borrowing costs in more than four decades are pushing the state and its municipalities to borrow at the fastest pace in the U.S. Facing a $733 million repair bill from Tropical Storm Irene almost one year ago, Vermont and its local issuers have sold $492 million of municipal bonds this year, according to data compiled by Bloomberg. That’s up from $99 million in the same period of 2011.
The Davis Companies buys South Boston building The Davis Companies said on Monday that it has acquired 24 Farnsworth Street in South Boston, a 75,000-square-foot office building located in an area the city is touting as the “Innovation District.” Simultaneous with the acquisition of the six-story building, Davis executed two new leases: with Barkan Management Company, Inc., a residential real estate management company affiliated with The Barkan Companies, the former owners of the building; and Catalina Marketing, a marketing firm.
Celldex posts wider 2Q loss on expenses Cancer drug developer Celldex Therapeutics Inc. reported a wider loss for its second-quarter due to increased research and development spending. The company, based in Needham, is trying to develop a number of drugs to treat cancer and other difficult-to-treat diseases based on antibody and immunotherapy-based treatments. Celldex on Friday reported a loss of $13.8 million, or 23 cents per share, for the period that ended June 30. Revenue increased slightly to $2 million due to contract and grants revenue tied to vaccine research.
Fidelity reports more than $25b in defined contribution sales in first half of 2012 Fidelity Investments, a Boston-based financial-services company that offers retirement savings products, is reporting defined contribution sales commitments representing $25.2 billion in assets under administration during the first half of 2012, up 36 percent from a year ago. The first half of 2012 marked one of Fidelity’s strongest first half sales periods over the last five years. New defined contribution plans signed during the first half of 2012 included one for Kraft Foods that represents $6.2 billion in new assets under administration.
Merrimack 2Q loss narrows on drug payments Biotech drugmaker Merrimack Pharmaceuticals Inc. said Friday that its second quarter loss narrowed as revenues doubled during its first period as a publicly traded company. The Cambridge-based company reported a net loss of $20.1 million, or 22 cents per share, compared with $29 million, or $2.76 per share in the second quarter of 2011. Analysts polled FactSet expected 27 cents per share. Revenue increased due to milestone payments from its work developing the experimental cancer drug MM-121 for Sanofi.
Dartmouth College fund-raising rises 16 percent to record $172m Dartmouth College received a record $172 million in philanthropic gifts for the year ended June 30, a 16 percent increase over the previous year. his year’s total included gifts from alumni, parents, and other donors and surpassed the previous record of $168 million set in 2008, the Hanover, N.H. school said Friday in an e-mailed statement. The Tuck School of Business received $5.7 million from 70 percent of alumni.
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