 | Fri. Dec. 16, 2011 Coronado Biosciences is set to begin trading on Nasdaq
Coronado Biosciences Inc. said that its common stock has been approved for listing on the Nasdaq Capital Market and is scheduled to begin trading Monday under the symbol CNDO. The Burlington company is focused on developing immunotherapy agents for the treatment of autoimmune diseases such as such as Crohn’s disease, ulcerative colitis, and multiple sclerosis as well as treatments for cancer. Ex-Freddie Mac, Fannie Mae chiefs, including Richard Syron, sued by SEC over loans
Richard Syron, the former chief executive of Freddie Mac, and Daniel Mudd, ex-CEO of Fannie Mae, were sued by the US Securities and Exchange Commission over disclosures they made about subprime loans. Complaints were filed against the two men today in Manhattan federal court. “This action arises out of series of materially false and misleading public disclosures,” the SEC said in the complaint filed against Syron. Syron once ran the Federal Reserve Bank of Boston. Sears sets midnight last call for last-minute holiday shoppers
More and more consumers are indicating that they prefer to do their holiday shopping at off-hours. Night-shift workers, procrastinators, folks who hate to battle crowds --- these apparently are some of the consumers who have come to regard holiday shopping as an after-dinner activity. To oblige this late-night demographic, Sears is planning to keep many of its department stores open until midnight through Dec. 23. Radius Health closes $21.4m equity tranche
Radius Health Inc., a Cambridge company company developing drugs for osteoporosis, announced today the closing of the third and final equity tranche of the company’s $91 million financing round, which was announced in May. Radius said it is allocating the proceeds of the financing primarily to advance the ongoing clinical study of its BA058 drug candidate, a bone-building drug for the treatment of osteoporosis. Bill & Melinda Gates Foundation awards grant to Seventh Sense Biosystems
Seventh Sense Biosystems Inc., a Cambridge company developing novel blood sampling technology, has been awarded a $3.28 million grant from the Bill & Melinda Gates Foundation. The company’s technology --- known as Touch Activated Phlebotomy --- can be used in blood-sampling diagnostics. One of the goals of the Gates Foundation is to support efforts that lead to “affordable, easy-to-use tools that can rapidly diagnose diseases and trigger timelier treatment in resource-poor communities.” OneUnited Bank receives $500,000 federal award
OneUnited Bank said it received a $500,000 award from the US Department of the Treasury’s Community Development Financial Institutions Fund. The Boston bank, which received $12 million in bailout funds from the government during the financial crisis, continues to struggle financially. The new grant is a Bank Enterprise Award, “in recognition of the bank’s community and economic development activities,’’ said the company, which is the largest black-owned bank in the country. Pension agency settles with Friendly’s
Several days after a federal agency accused Sun Capital Partners, the owner of Friendly Ice Cream Corp., of fraud in the chain’s bankruptcy proceeding, the two parties have reached a settlement. The Pension Benefit Guaranty Corp., which is responsible for protecting workers’ pension benefits, has alleged that Sun Capital fraudulently transferred assets so that its affiliates could keep control of the Wilbraham chain and avoid paying retirement benefits to nearly 6,000 Friendly’s workers and retirees. New York Times CEO Janet Robinson to retire
New York Times Co. chief executive Janet L. Robinson, who led the company through some of its most challenging years and helped it become a multimedia force, will retire at the end of the year, the Times Co. announced today. The company, which owns The Boston Globe, is beginning a search for her successor and said it will interview candidates internally and externally. Arthur Sulzberger Jr., currently chairman of the company and publisher of The New York Times, will serve as chief executive officer on an interim basis. Covidien spinning off drugs unit to focus on pain management
Covidien Plc., a maker of surgical products and drugs, plans to spin off its pharmaceuticals division into a separate company that would be better able to compete in the growing pain-management area. Covidien is incorporated in Ireland but has its corporate headquarters in Mansfield. The drugs unit generates about $2 billion in annual sales, with about two-thirds coming from the US market. Among its products are Exalgo, a 24- hour extended release opioid, and Pennsaid, a topical anti- inflammatory medication. What’s the biggest local business story of the year? Cast your vote on Boston.com
Filene’s Basement going out of business. Casino gambling legalized in the Bay State and coming maybe to a football station near you. Widespread seafood mislabeling at Massachusetts restaurants. These are some of the stories that Globe editors and reporters deem to be among the most important local business stories of 2012. Now we’re seeking input from Boston.com readers. Click on “Full Entry” to see how you can cast a vote for your choice of the biggest local business story of the year. Ex-Cuomo aide, Nicolas Retsinas of Harvard said to be among possible foreclosure monitors
A former aide to New York Governor Andrew Cuomo is among candidates being considered to ensure that banks comply with any settlement of a nationwide foreclosure probe, a person familiar with the matter said. Another candidate is said to be Nicolas P. Retsinas, a former assistant secretary of the US Department of Housing and Urban Development. Retsinas is also a senior lecturer in real estate at the Harvard Business School and the director emeritus of Harvard University’s Joint Center for Housing Studies. |
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