Mandalay Digital Group Inc (NASDAQ:MNDL) a provider of mobile-technology services, said it acquired technology company Xyo’s app search engine and contextual advertising technologies. Mandalay’s Digital Turbine will immediately integrate Xyo’s technology into its products “to help enhance end-user app recommendations in support of its pending DT IQ launches with Verizon and Vodafone Australia, as well as its current deployment with T-Mobile USA,” Mandalay Digital Group Inc (MNDL) said. Xyo’s existing mobile-operator relationships, including Deutsche Telekom Europe and Vodafone, are included in the transaction, it noted.
CytRx Corporation (NASDAQ:CYTR) has initiated enrollment in an open-label Phase 1b clinical trial designed to investigate the preliminary safety and activity of aldoxorubicin plus gemcitabine in subjects with metastatic solid tumors. The clinical trial is expected to enroll up to 30 male and female patients between the ages of 15 and 80. CytRx Corporation (CYTR) expects to complete enrollment by Q3 2015. Aldoxorubicin is CytRx’s modified version of the widely-used chemotherapeutic agent, doxorubicin.
“Initiation of clinical development of aldoxorubicin in combination with gemcitabine for the treatment of metastatic solid tumors represents a potentially significant expansion of our aldoxorubicin franchise in cancer treatment,” said CytRx CEO Steven A. Kriegsman. “The start of this combination chemotherapy with aldoxorubicin will allow our testing to move into a variety of new tumors such as pancreatic and ovarian cancers as well as hematological malignancies.”
MOL Global Inc (NASDAQ:MOLG), an electronic-payments company based in Malaysia, Thursday said its initial public offering of 13.5 million American depositary shares priced at $12.50 per ADS for expected gross proceeds of $168.8 million. The price is at the low end of the offering’s prior expected range of $12.50 to $14.50 per ADS, and the number of shares is much lower than expected. The ADSs being offered consist of nearly 7.5 million ADSs being offered by the company–even with its prior plans–but the number of ADSs being offered by certain selling shareholders was reduced to just over 6 million, from nearly 12 million previously planned. The expected gross proceeds to MOL Global Inc (MOLG) will be $93.6 million.
The ADSs are expected to begin trading Thursday on the NASDAQ Global Market under the symbol “MOLG.” The offering is expected to close on or about Oct. 15. The underwriters have been granted an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an additional 2 million ADSs at the IPO price to cover overallotments, if any.