Drug company sees cash burn fall 18pc
Dublin-based drug development firm AGI Therapeutics said it still had $9.3m (€6.6m) in cash at the end of June, while its cash burn in the first six months of this year fell 18pc to $900,000. Releasing interim results yesterday, it said in the first half of 2011 it remained focused on a pre-clinical evaluation of its AGI-350 presentation of an existing drug.
Icon chief Gray to retire after 14 years
Peter Gray, the chief executive of clinical trials firm Icon, is to retire from the company after 14 years. He's been CEO for the past nine years. Ciaran Murray, the current chief financial officer, will succeed him from October 1.
Pageant boosts its stake in Datalex
Pageant Holdings, the investment firm controlled by businessman Nick Furlong, has again boosted its stake in travel software firm Datalex. Pageant now controls 6.07pc of the firm, it told the Stock Exchange yesterday.
Most consumers don't stick to budget
HALF of consumers say they draw up a budget but only a tiny percentage stick rigidly to the targets they have set themselves. Most adhere to their household budget to some extent but around a third ditch their budgets, a survey by the National Adult Literacy Agency and EBS shows. The research also found two out of every three Irish adults struggled to understand financial terms, with women more likely to be confused than men.
Takeover of Quinn
The European Commission has cleared Liberty Mutual's proposed acquisition of the general insurance business of Quinn Insurance in Ireland. In April the joint administrators of Quinn Insurance Limited (QIL), Michael McAteer and Paul McCann of Grant Thornton, announced the acquisition by Liberty Mutual, a joint venture between Liberty Mutual and JVNewco, of QIL. The European Commission has granted clearance under the EU Merger Regulation to the acquisition of the general insurance business of QIL in Ireland by the Irish subsidiary of US insurer Liberty Mutual Group.