Petroleo Brasileiro S.A. – Petrobras (NYSE:PBR) Agrees To Sell Certain Noncore Business Assets For $587 Million

Petroleo Brasileiro S.A. – Petrobras (NYSE:PBR) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it 1.77% to close at $10.33 with the total traded volume of 14.34 Million shares. Brazilian state-run oil company, PetróleoBrasileiro SA agreed to sell certain noncore business assets for $587 million, amid its efforts to raise cash and reduce debts. Petrobras, as the company is also known, will sell its 45.97% stake in sugar and ethanol producer Guarani SA to France’s TereosInternacional, for $202 million.

In a separate statement, Petrobras said it agreed to sell certain petrochemical assets to Mexican petrochemical company Alpek S.A.B. de C.V. for $385 million. The firm has institutional ownership of 11.50%, while insider ownership included 39.80%. Its price to sales ratio ended at 0.69. PBR attains analyst recommendation of 2.90 with week performance of 4.24%.

ImmunoGen, Inc. (NASDAQ:IMGN) [Trend Analysis] try to make new thrust in street and making different trends, stocks trading ended with -1.22% to $1.62. ImmunoGen, Inc. (IMGN) reported that results from the Phase 1 expansion cohort evaluating mirvetuximabsoravtansine (IMGN853) in patients with folate receptor alpha (FRα)-positive platinum-resistant ovarian cancer were published in the Journal of Clinical Oncology. The data demonstrate the potential clinical benefit of mirvetuximabsoravtansine for the treatment of platinum-resistant ovarian cancer.

“Standard single-agent therapy for patients with platinum-resistant ovarian cancer typically has a response rate below 20% and median progression-free survival below four months,” said Kathleen Moore, M.D., Associate Professor, Stephenson Cancer Center, University of Oklahoma, and lead author of the publication. “Mirvetuximabsoravtansine generated encouraging efficacy and tolerability data in the Phase 1 trial that suggest the potential to improve clinical outcomes for this patient population.” The share price of IMGN attracts active investors, as stock price of week volatility recorded 7.98%. The stock is going forward to its 52-week low with 7.28% and lagging behind from its 52-week high price with -88.51%.

 

About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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