Mortgage applications rose for the first time in four weeks as long-term home loan interest rates plunged to their lowest levels since March, according to the Mortgage Bankers Association.
The group's seasonally adjusted index of mortgage application activity for the week ended Aug. 4 rose 4.9 percent to 553.3 from the previous week's 527.6.
Reuters
Halozyme sends share notices
Halozyme Therapeutics, a San Diego-based biopharmaceutical company developing recombinant human enzymes, said it has sent notices of redemption to warrant holders covering about 1.9 million shares of its common stock. For 30 days after the notice, warrant holders can exercise their warrants for $1.75 per share.
If all affected warrants are exercised, the company would receive about $3.3 million. After 30 days, Halozyme can buy any of the affected warrants that are not exercised for one cent a share.
Alphatec settles contract lawsuit
Carlsbad-based medical device maker Alphatec Holdings said it has settled litigation with Abbott Spine, but did not release financial details. The litigation stemmed from an Abbott Spine complaint alleging that Alphatec interfered with a contract that Abbott had with independent sales agents and Abbott's customer relationships in Arizona.
Alphatec, which makes products for spinal fusion, said the settlement agreement provides that terms are confidential.
CryoCor taps top medical officer
San Diego-based medical device maker CryoCor said it has named Dr. Helen S. Barold chief medical officer. She will lead the company's efforts to obtain regulatory approval for its system to treat atrial fibrillation, the most common form of abnormal heart rhythm.
Barold previously worked as a medical officer for the Food and Drug Administration and practiced cardiology and cardiac electrophysiology at the National Naval Medical Center in Bethesda, Md.
Navy modifies aircraft contract
The Navy has awarded Northrop Grumman a $135.8 million modification to a previously awarded contract for the Fire Scout, an unmanned, vertical-takeoff-and-landing tactical aircraft.
Nine Fire Scouts are planned under the contract. Northrop Grumman's Unmanned Systems Development Center in Rancho Bernardo manages the contract and provides engineering services. The basic airframe is manufactured in Elmira, N.Y., by Schweizer Aircraft Corp., and final assembly work is done at Northrop Grumman's Moss Point, Miss., production facility.
JMAR gets $3.1 million award
JMAR Technologies of San Diego has received a $3.1 million award from the Naval Air Systems Command. The award is part of JMAR's current contract, valued at $17.5 million, to continue development of X-ray masks and next-generation nanolithography.
Biotech starts painkiller study
TorreyPines Therapeutics said this week that it has initiated an early-stage Phase 1 study of its experimental drug to treat migraines and chronic pain. The San Diego biotechnology company said the drug, NGX426, will be evaluated for safety in 30 healthy adult volunteers.
