Category Archives: Progress

The Sedalia City Council approved a bid for the removal of this building at 302 W. Third St. during Monday nights meeting. The building will make way for the future Sedalia Police Department station.

Photo by Nicole Cooke | Democrat

While there havent been many public updates on the future Sedalia Police Department station, the Sedalia City Council approved a bid during Monday nights meeting to help move the project forward.

Council approved a bid from All Weather Heating and Cooling for disposal of property, 302 W. Third St. in downtown Sedalia, which formerly housed the Bryant Motor sales office and multiple hair salons. According to the contract in the meeting packet, All Weather will remove the building in mid-September and pay the city $500.

Mayor Stephen Galliher told the Democrat that removing the building will save the city the cost of demolition.

The police station came in a little under budget, Galliher said. We hope to get the building removed soon and the other one (on the future SPD station property) demoed.

Galliher said he believes groundbreaking will occur in October for the new station, noting that is weather dependent.

We just have to finish up finalizing the financing of it. Theres a couple options were looking at and well take the best option in the near future. Ill be happy when I see machinery digging dirt over there, Galliher said. Its a much-needed expansion. It shouldve been done years ago.

Galliher said the city is trying to plan ahead by creating a building that can be expanded in the future, to avoid the current problem of needing to construct a new building.

With the new station underway, Galliher added that staff is now starting to work on ideas for a future Sedalia Community Center, after he and council told former Park Director Mark Hewett and the Park Board to go back to the drawing board to lower the cost.

Were trying to move forward with that and get it done. Im hoping we come in much less than the original. I thought we could do it a lot less so I put a halt to it a few months ago and now were starting back up, Galliher said. I think the city really needs one and weve tried for years. Maybe this time well get it done.

During the pre-council meeting, council heard from Sedalia Regional Airport Director Eric Bowers regarding the need to control wildlife at the airport for safety reasons. He said deer are frequently in the area of the airport and even on the runway, which can cause a crash if pilots are unable to see the animal in time.

He obtained councils approval to move forward with pursing options to contain the problem. One option was obtaining a permit from the Missouri Department of Conservation for a closed hunt. Another was thining out the treeline to discourage wildlife from the area.

Bowers said he looked into getting a wildlife fence for around the airport property, but said that option isnt feasible because it would cost roughly $1.5 million.

During the meeting council also:

Approved a bid of $28,564 and an ordinance approving and accepting an agreement with Agricycle Inc. for the yard waste grinding No. 9 project.

Approved an ordinance approving an agreement with Mission Communications LLC for software utilized by the Water Pollution Control Department SCADA system and ratifying the actions previously taken on past agreements.

Approved a bid of $73,737 and an ordinance approving and accepting an agreement with Poort Excavating LLC for storm drainage improvements, project areas 5B and 32 from the Storm Water Master Plan. This is the plan approved by council about three years ago.

Approved the appointment of Alice Clopton to the Sedalia Public Library Board for a three-year term expiring in June 2020.

Ward 4 Councilman Tollie Rowe was absent. A detective sergeant with the Pettis County Sheriffs Office, he was in Henry County assisting with the manhunt for a suspect who shot a Clinton police officer Sunday night.

The Sedalia City Council approved a bid for the removal of this building at 302 W. Third St. during Monday nights meeting. The building will make way for the future Sedalia Police Department station.

http://www.sedaliademocrat.com/wp-content/uploads/2017/08/web1_TSD080817Council.jpgThe Sedalia City Council approved a bid for the removal of this building at 302 W. Third St. during Monday nights meeting. The building will make way for the future Sedalia Police Department station. Photo by Nicole Cooke | Democrat

Nicole Cooke can be reached at 660-530-0138 or on Twitter @NicoleRCooke.

. Bookmark the

.

Read the original here:

Progress continues on new Sedalia Police Department station plans - Sedalia Democrat

LENOIR COUNTY, NC (WITN) Tuesday marked ten months since Hurricane Matthew brought historic flooding to parts of eastern Carolina, including much of Lenoir County.

Communities there have spent countless hours and millions of dollars to rebuild homes and businesses, and now they're looking into what options they have to protect themselves from future floods.

But that unfortunately is much easier said than done and something that worries local business owners.

Russell Rhodes of Neuse Sport Shop in Kinston says, "On the outside looking in everything looks good, but we're still struggling a little on the inside and nervous. Everytime a thunderstorm comes through I check the river levels to see if it can handle that water."

As a result, some businesses aren't taking any chances. Places like this Bojangles on U.S. 70 constructed their building on an additional four feet of land that should protect it the next time it floods.

Mayor BJ Murphy says that it's preparation like this that will best serve businesses in the area, as help on a larger scale will not be quick. "The truth is no matter where we are in our flood prevention discussion with the Army Corps of Engineers it's still not going to be fast enough for this hurricane season, next hurricane season, this is literally going to take an act of Congress."

And as far as residents go, officials say the best option they're looking into involves purchasing properties and relocating people to keep them out of harms way.

All roads that were closed and in need of repair due to the flooding in Lenoir County have reopened according to Len White, the Lenoir County Maintenance Engineer, who is now overseeing the upsizing of drain pipes under local highways that will hopefully alleviate some of the flooding when it happens in the future.

Visit link:

Much progress, but more recovery to go 10 months after Hurricane Matthew hits Lenoir County - WITN

NEW YORK (Reuters) - LendingClub Corp and OnDeck Capital Inc surprised investors on Monday with strong growth forecasts that sent the online lenders' stocks soaring, but analysts said the sector's health was still a concern.

Online lenders soared in popularity after the financial crisis when banks pulled back from traditional lending and borrowers sought other options. But rising delinquencies have made it harder to raise funds for fresh loans, prompting the sector to review its business model, which tends to attract borrowers with low credit quality.

LendingClub, which serves individuals, and OnDeck, which caters to small businesses, are cutting costs and trying to attract borrowers with better credit.

Executives of both companies were upbeat about the progress in their turnaround plans after they reported second-quarter results.

"It's great to be back to growth," LendingClub Chief Executive Scott Sanborn said in an interview. "We are excited about the momentum building in the business and the massive opportunity that lies ahead."

Sanborn took on the CEO role last year after his predecessor, LendingClub founder Renaud Laplanche, was ousted in a scandal over disclosures and potential conflicts of interest.

In a post-earnings interview, OnDeck CEO Noah Breslow called it "a positive quarter."

"We have done a lot of work to restructure the business," he said.

OnDeck shares closed 18.5 percent higher at $5, and LendingClub ended up 4.8 percent $5.46. The stocks rose in after-hours trading but remain far below their initial public offering prices of $20 and $15, respectively.

On conference calls, analysts probed executives about their forecasts, questioning whether online lenders could deliver on promises for loan growth, credit quality and profitability.

While OnDeck's initiatives were bearing fruit, the company remains a "'show me' story for investors," BTIG analyst Mark Palmer wrote in a research note.

Prosper Marketplace Inc, another online lender, has been looking to raise a new round of funding in exchange for equity at a price that would slash its market value by more than 70 percent, people familiar with the matter told Reuters on Friday. The sources requested anonymity because they were not authorized to speak publicly about the matter.

The Information first reported last week on Prosper's fundraising effort.

Earnest Corp is looking to sell itself for $200 million, Bloomberg News reported on Friday, far less than the $300 million it has raised from investors.

The sector has been expected to consolidate for several months, and mergers could be on the horizon, venture capitalists, investment bankers and analysts said in recent weeks. In theory, companies can improve profits by merging because they would need to spend less money on marketing and technology, and be able reach more customers.

"There have been too many princes wanting to be kings and they will not all be successful," Ryan Gilbert, partner of financial technology venture capital firm Propel Venture Partners, said in an interview.

Reporting by Anna Irrera and David French; Writing by Lauren Tara LaCapra; Editing by Richard Chang

Read the original:

Online lenders upbeat about turnaround progress, but worries linger - Reuters

The Oregon State defensive line is a work in progress as fall camp heads into its third week.

Defensive coordinator Kevin Clune likes what he sees out of the players on the first team, but knows that the Beavers need reliable play from the reserves to get through the season.

"I've really liked the way Titus (Failauga) has come out and really shown up every single day and worked hard and taken care of business," Clune said Monday evening. "Kalani (Vakameilalo) and Paisa (Savea) are right there with them. Those three (I'm) very happy with.

"The second group is doing well but there's times when they need to pick it up, too. We need to have a solid six guys that we can count on, game-in and game-out. There's going to be an injury or two, so we need that depth. We're going to rotate those guys in and out all game long, but we also need some depth in case of injury."

Defensive tackle Elu Aydon started four games last season and should help with depth.

The Beavers are still waiting on tackle Craig Evans, who could push for a starting spot upon arrival.

Baker Pritchard, Phillip Napoleon and LaMone Williams are also in the mix at defensive end.

Clune also liked the performance of the first-team defense as a whole in last Friday's scrimmage at Summit High in Bend.

Like the defensive line situation, he expects more out of the backups.

"The twos need a lot of improvement and the threes I was very unhappy with. They've got to make a huge jump from scrimmage 1 to scrimmage 2. And if they're taking care of business, they will," Clune said.

"With the ones, the run defense was real nice. With the twos it was not. So one side needs working on it, the other did an OK job."

Despite losing three key starters in Sean Harlow, Gavin Andrews and Dustin Stanton off last year's team, offensive line coach T.J. Woods is pleased with the Beavers' depth on the line.

Tackle Blake Brandel started all 12 games last season as a true freshman, nine at right tackle and three at left tackle. Gus Lavaka had seven starts at guard last season as a true freshman and senior guard Fred Lauina has 20 career starts.

Guard Kammy Delp started two games in 2015.

"I think that's the biggest thing with this group, we've got depth," Woods said. "We've got probably eight guys right now that I feel comfortable putting in a Pac-12 game and that's something I haven't been able to say since I've been here."

The Beavers have a few banged up bodies at cornerback, but Clune is not overly concerned.

For the time being, anyway.

"Right now I'm not that concerned, but we're not keeping score right now," he said. "So when it comes time to keep score, it's going to be a big concern. So I need to see that No. 5 (Xavier Crawford) is squared away and No. 4 (Dwayne Williams) is squared away and then, who's our third corner? and then who's the next guy and the next guy?

"Right now, it's a lot of inconsistent play. We need more."

Visit link:

OSU football notebook: D-line a work in progress - Corvallis Gazette Times

The regional office of the Bureau of Land Management reported this morning that firefighting crews have made significant progress on stopping the advance of the Mammoth Fire, which started Friday north of Shoshone and marched northward over the weekend through sagebrush and grasslands to the south of Blaine County.

The BLM reported Monday morning that it expects to have the fire contained by 8 p.m. tonight, Aug. 7, and controlled by Thursday night. The fire has burned about 50,200 acres of land.

The BLM reported that a "burnout" operation on Sunday was successful in eliminating fuels in the fire's path and that most of the fire's progression had been stopped.

"Crews are improving containment lines and mopping up hotspots," the BLM reported. "Some interior burning is expected today, but should not cause any additional growth."

The BLM has 24 engines, two hand crews,one hot-shot crew, 20 aircraft, four bulldozers, three water tenders and one camp crew fighting the fire.

The wildfire started about seven miles north of Shoshone, near the Mammoth Ice Caves, on Friday, of an undetermined cause. Over the weekend, it burned north to within about seven miles of Carey. On Sunday, crews were able to stop the fire at the Picabo Desert Road, south of Timmerman Hill.

The fire has burned one residence and two minor structures, the BLM reported.

On Saturday night and Sunday morning, the fire threatened to destroy a primary electrical transmission line into the Wood River Valley. County officials and residents were put on alert Saturday that loss of the line could cause a sustained power outage in the valley. Idaho Power Co. and BLM crews were able to prevent severe damage to the line and power to Blaine County was never lost.

The rest is here:

Crews make progress on Mammoth Fire - Idaho Mountain Express and Guide

MADISONOn Saturday, Wisconsin offensive coordinator and offensive line coach Joe Rudolph met with reporters after the Badgers sixth practice of fall camp.

For nearly 10 minutes, he answered questions ranging from the combination of offensive linemen that could start for Wisconsin beginning on Sept. 1 against Utah State to the other skill positions including wide receiver and his starting quarterback.

On redshirt junior Michael Deiter transitioning to left tackle and where he is in terms of getting comfortable: I think hes making some great strides. I really do. Hes smart, there are some things thatll pop out. Itll be something he hasnt quite done yettheres this pressure against that run, that pass, but hes really making strides. I think he could be a difference-maker and make a bigger impact at that spot so we gotta see, we gotta see how it figures out, but right now hes doing a good job.

If he has to get a different combination on the offensive line, how far do they go into camp and how much time do they give themselves? As we work through, hell be getting reps at center, and hell be getting reps at left tackle. And really, I do feel like reps at left tackle, especially versus our defense with the variations, wont really bother him if he had to do both. But im trying to keep him as much as he can. I know hes got a solid base playing center but hell get more of those as the camp progresses.

On wide receivers and, outside of Jazz Peavy, having players that may be inexperienced: Ive liked it. Inexperienced, but guys that have played. Like A.J. [Taylor] played last year, and Quintez [Cephus] has played and George [Rushing] is a senior. Im excited about those guys, and I think its a little bit different approach when you have played.

Now, KP [redshirt freshman wide receiver Kendric Pryor] hasnt, but man, I see him growing from what he did in the spring, so I like what that group is doing and what theyre showing. I think I like that theyre playing fast. You can tell theres an understanding across the board, so hopefully that continues.

On Wisconsins tackles and if theres one who can play as a swing tackle: I kind of see how it goes. I think right now, someone who could be a swing could be David Edwards. I think then you have good communication left and right. You got [right guard] Beau [Benzschawel] on one side, you got him there, and then you would have David on the left. Same way if you have [redshirt junior guard] Micah [Kapoi] in there. You have communicationguys that have been through it and can talk.

On Tyler Biadasz and where hes at with communication: Hes owned it, and I dont think theres a guy in the room though that wouldnt say hes owned it by the way hes approached it and what hes done to this point. Hes got to keep fighting but hes doing a good job.

On the growth of Beau Benzschawel over the course of the offseason: Hes doing a good job. Hes trying to change some things up a little bit and play a little bit more aggressive, and hes getting there. Hes utilizing the technique. Hes playing smarter. You figure someone going into their junior year now showing that things on the field. I like the camp hes had so far. Hes still got to make some steps, but hes had a good camp.

On moving Benzschawel from tackle to guard as a redshirt freshman, and if it was a better fit for him long-term: I do think it was. It was a better fit for us at the time, and sometimes youre in a spot and youre trying to get it balanced and figured out, and sometimes it just starts playing mind games with you. So Jacob Maxwell did a great job on jumping in and filling that role, and we moved Beau over and he kind of found a home. You saw a different player, a different confidence, and Ive liked that about him. But the thing I love is hes taking steps, hes getting better. Sos Micah, sos Jon Dietzen. Were going to need all of those guys.

Any surprises in the first week, and what needs to still get done in the next two/three weeks? I dont know if anythings surprised me to this point. I would say what needs to get done would be just solidifying the depth. Kind of some of the things you were alluded to, who will be the back-up center? Whos going to win that job? How are we going to adjust if we need to? The third tackle, the third guard. We know we got three guards that have played extensively. I feel confident with those guys that well find two game in and game out thatll find fight to get it done. I think thats the fun part of camp, so we got that ahead.

On redshirt sophomore tight end Kyle Penniston and if he should be better this year than last year and in what ways: I hope so, because hes done a good job. Penny can play. My big thing for him is he doesnt have to surprise us anymore. I believe he can do it every play regardless of assignment. He doesnt have to worry about a pass or a run, I think hes a heck of a football player. His growth has to be from no more surprising us if we can just lean on him and count him to get it done every time. And he can do it, so Im excited for him.

On Penniston becoming a two-way tight end (both pass catcher and blocker): Hes got to be both. I think thats the best part of playing tight end. You got to be both. He has the potential to be there, and I believe hell be there by the end of camp. Hes still got to keep taking some steps.

Happy with the scholarship numbers on the offensive line? Lacking anywhere? I think we have a good group that were working with in the two-deep. Overall, youre always trying to balance things out but I think this group of guys in the two-deepthere are three redshirt freshmen in therebut I still think its the most solid two-deep that weve had, so I feel good about that.

On going up against the defense and how it improves the offense: I think our D does an amazing job coaching-wise, player-wise, the experience they have, the detail they bring to their play, I think it really makes you play with an awareness. You cant relax for one second, whether its seeing something before the snap, being able to adjust, make calls. They really help, I think, expand the knowledge base of your o-line, and thats a good thing for us. So its always a challenge. Its fun.

What have you liked about what Alex Hornibrook has done over the past couple of practices? I think for Alex, like, the install, what weve done is because we havent had a lot of padded practices weve really had a lot of volume in the install. And so as he is able to allow that to kind of settle in, I think its pretty great. I can imagine what is on him now compared to what weve tried to do in the past. And then I expect him just to keep playing faster and faster, but his confidence in the huddle, his understanding, his leadership, his command of things, I couldnt be more excited about what I see there.

Have you found your best five guys on the offensive line? I like this five. I think what we talked about is really working hard to try to find, try to make sure we have things in place for how we back those up. Guys have a chancelike theres a back-up center position that Id love someone to step in and just own. Id love to not have to move back Michael from left tackle back to center. Theres a chance like, theres a competition at guard. I have three guards with a lot of experience that are all playing and wanting to see that competition develop. I want to see one of the young tackles fight, to push, to create that competition. Right now, these five have been the best, and thats why its been represented that way, but youll see a little bit more rotation this week.

About David Moorman and Cole Van Lanens progression: I like it. I think theres threeI think theres [Patrick] Kasl, I think theres Moorman, and I think theres Van Lanen. Right now, Ive really been using more Moorman as kind of the swing [tackle] and the other two keeping them in place so they can keep developing.

I think Cole has taken a step fromI thought the spring game was his best practice of the spring. I think hes continued to take steps from there, barring I haven't seen todays practice, but what I saw I thought was better. Patrick, the same, hes getting back to his form. David is competing, so I think we got to find who that third guy is and feel confident with him, and I think it hasnt been answered quite yet.

Read more from the original source:

Joe Rudolph talks Wisconsin offense's progress in camp - Bucky's 5th Quarter

The Seahawks offensive line has been and will continue to be one of the most discussed position groups on the roster heading into the 2017 season. At times a young and relatively inexperienced line played well, but there were struggles and inconsistencies as well, something the Seahawks want to avoid this year.

With three second-year players battling for starting jobsGeorge Fant, Germain Ifedi and Rees Odhiambowith two veteran free agents, Luke Joeckel and Oday Aboushi added to the mix; and with two rookies, Ethan Pocic and Jordan Roos competing for playing time, offensive line coach/assistant head coach Tom Cable sees the potential for a lot of growth.

I think to start with is that our retention is good from the spring and theyre working very hard, Cable said. Were better because were a little older, got some nice guys in addition in terms of Joeckel and Aboushi, and Pocic and Roos. I think all four guys can help us somewhere.

In particular, the trio of Fant, Odhiambo and Ifedi should be able to make a big leap with a year of NFL experience under their belt, and thats especially true for Fant, who was a college basketball player who barely played in his one season of football at Western Kentucky.

Coach (Pete Carroll) and I talked about it; its like when freshmen become sophomores, a big jump that second year, and were seeing some of that, Cable said. When you talk about things now, (Fant) understands what it is.Hes not just fresh off the basketball court, I dont know what you are saying, you know? So we are in another level in terms of our conversations, discussions, the things that he is working on now are things we never got to last year. So that is going to be a big part of him getting himself ready physically, but also his maturation.

While Fant, Odhiambo and Jockel are battling for two starting spots on the right side, Mark Glowinski, last years starter at left guard, is competing at right guard with Aboushi. Thats a move back to his natural position for Glowinski, who played on the right side in college and as a backup during his rookie season.

That is his background and we have kind of talked about this before, Cable said. He seems much more comfortable and much more sure of himself.

And while Britt, who was a Pro Bowl alternate in his first season at center, is a veteran who is as close to being a lock to start as anyone on the line, he too should benefit from having a year under his belt. A right tackle as a rookie and left guard in 2015, Britt is preparing this year to stay at the same position in consecutive years for the first time in his professional career.

Like the rest of the group, his improvement is very noticeable, Cable said. His command of it and his leadership has really showed up, but playing the position with the fundamentals, hes a whole year better after going at it for a year. He understands what youre talking about right from the get-go, and hes able to really make a difference in there.

And thanks to the signings of Jockel and Aboushi, Britt wont be the only veteran available to help the rest of the young linemen develop.

Here are a couple of guys that played five years and both of them have been starters in the NFL and they have both been in transition from one team to another, Cable said. What I am really pleased with them about is how much they are doing for the young guys and how willing they are to help guys grow. So its a cool group, really cool group.

View gallery27 Slides

The rest is here:

Seahawks Offensive Line Coach Tom Cable Likes Progress He's ... - Seahawks.com

August 7, 2017 by Adam Harris

The Education Department has not made any progress toward generating data this year to comply with the Obama-era gainful-employment rule and does not have any timetable for doing so, according to a letterlast week from Education Secretary Betsy DeVos. The hotly contested regulation, a holdover from President Barack Obamas administration, is meant to hold career-preparation programs accountable when their graduates education debts consistently exceed their ability to repay them.

The letter came in response to questions submitted by Sen. Richard J. Durbin, an Illinois Democrat, as part of a Senate committees consideration of the Trump administrations 2018 budget request. Senator Durbin asked the secretary about the draft completer list the first step in generating gainful-employment data. Last year the Education Department under President Obama sent that list to institutions for review by June. Ms. DeVos wrote to Senator Durbin that the department had not yet provided the list to institutions this year.

The department did not immediately respond to a request for comment from The Chronicle.

In June the department announced that it would begin the process of rolling back the regulation. The negotiated rule-making process to rework the rulegot underway last month.The department is required to comply with the regulation, as written, during that renegotiation.

It is time for us in Congress to speak up, saidSenator Durbin in a speech last week on the Senate floor.It is time for Secretary DeVos and the Trump administration to stop aiding and abetting for-profit colleges.

More:

Education Dept.'s Progress Is Stalled in Complying With Consumer ... - The Chronicle of Higher Education (blog)

Photo: Michael Cummo / Hearst Connecticut Media

Loxo Oncology CEO Joshua Bilenker, center, and Chief Business Officer Jacob Van Naarden pose for a photo inside Loxos Tresser Boulevard offices, in downtown Stamford, on Tuesday, July 18, 2017.

Loxo Oncology CEO Joshua Bilenker, center, and Chief Business Officer Jacob Van Naarden pose for a photo inside Loxos Tresser Boulevard offices, in downtown Stamford, on Tuesday, July 18, 2017.

Cara Therapeutics CEO Derek Chalmers poses for a photo inside Caras Elm Street offices in downtown Stamford, on Thursday, August 3, 2017.

Cara Therapeutics CEO Derek Chalmers poses for a photo inside Caras Elm Street offices in downtown Stamford, on Thursday, August 3, 2017.

Loxo Oncology Chief Business Officer Jacob Van Naarden discusses the biotech firms business strategies inside their Tresser Boulevard offices in downtown Stamford, on Tuesday, July 18, 2017.

Loxo Oncology Chief Business Officer Jacob Van Naarden discusses the biotech firms business strategies inside their Tresser Boulevard offices in downtown Stamford, on Tuesday, July 18, 2017.

Cara Therapeutics CEO Derek Chalmers poses for a photo inside Caras Elm Street office in downtown Stamford, on Thursday, August 3, 2017.

Cara Therapeutics CEO Derek Chalmers poses for a photo inside Caras Elm Street office in downtown Stamford, on Thursday, August 3, 2017.

Loxo Oncology CEO Joshua Bilenker makes a point during an interview in Loxos Tresser Boulevard offices in Stamford, Conn. on Tuesday, July 18, 2017.

Loxo Oncology CEO Joshua Bilenker makes a point during an interview in Loxos Tresser Boulevard offices in Stamford, Conn. on Tuesday, July 18, 2017.

Cara Therapeutics CEO Derek Chalmers poses for a photo inside Caras Elm Street office in downtown Stamford, Conn. on Thursday, August 3, 2017.

Cara Therapeutics CEO Derek Chalmers poses for a photo inside Caras Elm Street office in downtown Stamford, Conn. on Thursday, August 3, 2017.

Loxo Oncology Chief Business Officer Jacob Van Naarden makes a point during an interview in Loxos Tresser Boulevard offices in downtown Stamford, on Tuesday, July 18, 2017.

Loxo Oncology Chief Business Officer Jacob Van Naarden makes a point during an interview in Loxos Tresser Boulevard offices in downtown Stamford, on Tuesday, July 18, 2017.

Cara Therapeutics CEO Derek Chalmers poses for a photo inside Caras Elm Street offices in downtown Stamford, Conn. on Thursday, August 3, 2017.

Cara Therapeutics CEO Derek Chalmers poses for a photo inside Caras Elm Street offices in downtown Stamford, Conn. on Thursday, August 3, 2017.

Loxo Oncology CEO Joshua Bilenker makes a point during an interview in Loxos Tresser Boulevard office in Stamford, Conn. on Tuesday, July 18, 2017.

Loxo Oncology CEO Joshua Bilenker makes a point during an interview in Loxos Tresser Boulevard office in Stamford, Conn. on Tuesday, July 18, 2017.

Investor support spurs progress at Stamford biotechs

STAMFORD Two months ago, Memorial Sloan Kettering Cancer Centers Dr. David Hyman revealed to an audience at McCormick Place in Chicago the promising results of clinical trials for a Stamford biotech firms leading drug. Those in attendance were not the only ones impressed by the data.

The price of Loxo Oncologys stock would spike after Hyman announced at the American Society of Clinical Oncologys annual meeting that Loxos Larotrectinib oral treatment significantly shrank tumors in 76 percent of patients with a range of cancers. With that validation, Loxos leaders decided they should capitalize by issuing more of their companys shares.

Loxo and fellow Stamford biotech firm Cara Therapeutics have benefited from increasing investor confidence in their work. This year, the two enterprises have cumulatively attracted hundreds of millions of dollars to support their costly operations. Their records show biopharmaceutical businesses enduring ability to tap into large amounts of capital if they have the scientific results to prove their progress.

When we came out of the meeting at ASCO, there were investors who said Youve passed a level of risk that were now comfortable with, Loxo CEO Joshua Bilenker said in a recent interview at the firms offices at 281 Tresser Blvd. When we have that kind of interest from high-quality shareholders, thats always a good time to think about a fundraising event in a biotechnology company.

Attracting investment

As companies without products yet on the market, Cara and Loxo rely on outside capital to finance the tens of millions of dollars their businesses are spending annually on research and development. Typical of biotechs at their growth stage, both are operating in the red: Loxo ended 2016 with an approximately $72 million loss; Cara finished the year with a roughly $57 million deficit.

But the latest stock offerings for the firms which both went public in 2014 more than made up for last years losses.

Loxo netted nearly $261 million from its June public offering. It plans to use the proceeds for early commercialization activities related to Larotrectinib; R&D initiatives for other drugs and additional uses that could include acquisitions or investments. It announced last Monday the $40 million acquisition of a program that focuses on inhibiting a molecular target in B-cell leukemias and lymphomas.

In January, Loxo closed on another offering that raised about $138 million.

Caras last offering, which closed in April, brought in about $92 million to support further testing of its signature CR845 drug. The therapy treats chronic and acute pain and the itch condition pruritus. By issuing new shares, Cara aimed to take advantage of an uptick in its stock prices following a batch of encouraging test results for CR845.

We want to return value to shareholders, so were always working to increase the overall value of the company, Cara CEO Derek Chalmers said in an interview at the firms offices at 107 Elm St. The most important time when we look to share prices is when we look to raise money in the market.

The two companies are raising capital amid a shift from a 2015 bull run for biotech stocks.

The market is willing to back the folks who look like theyre winners or are going to be winners, said Clarke Futch, managing partner and co-founder of Stamford-based health care investment firm HealthCare Royalty Partners. But theres very little capital available for companies not showing substantial progress.

Reflecting market confidence, Cara and Loxo have forged major gains in their share prices in the past year. On Aug. 4, 2016, Caras shares closed at $5.94; exactly a year later, their worth had nearly tripled to $16.34. During the same span, Loxos shares also grew nearly threefold: from $27.53 to $72.92.

While shares can spike, they can also plunge. Caras stock shed 40 percent of its value between June 29 and 30 in the wake of a mixed set of results for CR845. Its value soon stabilized.

Both firms said they prefer institutional investors whose commitment helps to steady the share prices.

They tend to be focused and conditioned and educated about the opportunities and risk of biotechnology; they understand the enterprise, Bilenker said. They hopefully are with you as you move through these different gates of development.

Onward with R&D

Executives at Cara and Loxo said they focus mostly on the science underlying their drugs in development, not on share prices.

Loxo hopes to secure U.S. Food and Drug Administration approval for Larotrectinib as early as mid-2018. Larotrectinib and Loxos other drugs in development focus on treating cancers linked to genetic abnormalities.

We pay a lot more attention to getting the science right every day and getting patients enrolled onto our studies who have an opportunity, we hope, to benefit, Bilenker said. We pay a lot of attention to how to get information out into science journals and medical meetings, so that the world can monitor our progress. To us, thats far more important than what our stock does on any given day.

Cara aims to file its first new drug application with the FDA within the next two years for an intravenous form of CR845 to treat acute post-surgical pain or pruritus.

In a boost to its regulatory prospects, the company announced in late June that it had received breakthrough therapy designation for the IV form of CR845 for uremic pruritus in patients with chronic kidney disease undergoing hemodialysis.

It brings us regulatory advantages in terms of our interactions with the FDA, Chalmers said. We can speak to them more frequently, we can elicit their input more frequently into our program, and it allows us to hopefully have a faster review of the NDA (new drug application) once we actually submit it.

Coincidentally located within a block of each other in downtown Stamford, both companies envision a long-term presence in the city. Cara relocated last year from Shelton, as it sought a more central location. Loxo has been based in the city throughout its four-year existence.

Its worked out nicely because Stamford is close to New York City, where a lot of our large shareholders are and where Memorial Sloan Kettering is, said Bilenker, a Stamford resident. There is a biopharma community here It has turned out that were reasonably situated to build a strong team here in Stamford.

pschott@scni.com; 203-964-2236; Twitter: @paulschott

Read the original:

Investor support spurs progress at Stamford biotechs - The Advocate

Nope, not going to talk about the big league club. Not going to win, didnt do anything at the deadline to move the club in a positive direction for the future. Enjoy playing out the string, everybody. In fact, if I could come up with a way to not write about the big league team for the rest of the season, I might do it. Most likely, that will last until about this coming Wednesday, though. So give my pouting the amount of regard it calls for, which is frankly not very much.

In the meantime, however, I will talk about one of the more positive aspects of the 2017 season: the draft class. Admittedly, the 2017 draft class for the Cardinals doesnt come without some caveats in terms of how positive it can really be; the hacking penalties put the Cards and Randy Flores behind the eight ball, and ensured there was a fairly hard ceiling on how much they could get done. Within the confines of all that, though, Flores and his department did one of the more remarkable jobs I think Ive seen of acquiring talent.

So lets update the performances so far of a few notable draftees just starting out their pro careers, shall we?

Level: State College (Short Season)

134 PA, .299/.376/.470, 9.7% BB, 22.4% K, 2 HR, 8 2B, 3 3B, .171 ISO, 4/6 SB, 149 wRC+

So far, Scott Hurst is off to pretty much exactly the kind of start one would hope to see from him. One of the most, if not the most, dynamic talents the Cards grabbed on draft day, Hurst has shown some power, some speed, patience at the plate, and generally loud contact the majority of the time.

The strikeouts are a little higher than I would have hoped, but that seems to be the case with most of the Cardinal hitters even in the minors these days. To be fair, though, its Hursts first pro season, hes playing later than ever before, and seeing better competition than hes ever faced. Still, when I looked at him in college at the time of the draft, I thought he should run a sub-20% strikeout rate in the pros. So far, hes above that, though not terribly so. Still, with a walk rate close to 10% you dont worry as much about the strikeouts.

Hes running a very high BABIP (.384), but anecdotally from the one or two sources I have who have seen him play for the Spikes, hes also just hitting the hell out of the ball. The higher of the two short season leagues the Cardinals run, State College was a slightly aggressive assignment for Hurst, considering how much time he missed with back/spine issues in college, but so far both the stats and the eye tests suggest hes a little too good for the level. Very encouraging.

Level: Peoria (Low A)

116 PA, .255/.293/.373, 3 HR, 5/8 SB, 87 wRC+, 5.2% BB, 19.0% K

Scott Hursts placement at State College felt aggressive, but not overly so, and he has so far looked as if the organisations faith was well placed. Kramer Robertson, on the other hand, was placed even more aggressively as a college senior, sent straight to full-season Peoria, and at least to this point it looks like the placement may have been a little too aggressive.

To be fair, Robertson did come out of the gate quickly; in his first seven games he hit .367 with a couple home runs. After that, though, the former LSU Tiger found the going much tougher as a professional, particularly during a 3-for-33 tailspin to close July. Hes hit well so far in August, but suffice it to say Robertson has not come out and put himself on the fast track just yet. Considering hell turn 23 in a couple months, he should absolutely start no lower than Peoria next year, and should really move up to Palm Beach if he wants to get on any kind of prospect age track. Well have to see if the organisation believes him ready for that challenge, though.

Level: State College

119 PA, 15.1% BB, 20.2% K, .082 ISO, .233 BABIP, 89 wRC+

Kirtley, product of the same St. Marys program that brought the Cardinals the perpetual power tease of Patrick Wisdom, is in many ways the exact opposite of his fellow alum. Wisdom is a high-quality defender at third, with power to spare but poor contact skills and atrocious discipline. Kirtley, on the other hand, is all patience and discipline, with modest pop, questionable quality of contact (at least so far), and no real defensive home.

On the other hand, this is a player getting his first taste of pro ball, with an aggressive placement (particularly considering Kirtley is very young for a college draftee, not turning 21 until October), who is also walking over 15% of the time and striking out not much more than that. It was an open question what position Kirtley would play coming out of the draft, but so far the Cards seem dedicated to trying him out at second, perhaps just because they cant help themselves but try to corner the second base market completely.

Level: Johnson City (Short Season)

135 PA, .319/.430/.425, 136 wRC+, 13.3% BB, 16.3% K, 9 2B

First off, I skipped round six draftee Zach Jackson, the high school catcher with the big lefty uppercut, because hes only played in about a dozen games and hasnt really gotten going yet. Well check back in on him at a later date.

Pinder, meanwhile, received a less aggressive assignment than Scott Hurst, partially because I think the organisation wanted to challenge Hurst as their highest pick, but also because of the glut of outfielders at pretty much every level of the farm system. Pinder and Hurst being assigned to two different levels allows both to play center, where they need to be evaluated first.

The best part of Pinders line so far is that near-1:1 strikeout to walk ratio; hes rocking a hard-contact-assisted .389 BABIP as well. Hes also put the ball in the air more often than on the ground, with roughly 60% of his batted balls being either line drives or fly balls, compared to a little under 40% on the ground. Admittedly, stringers and batted ball date in the minors can be shaky, but its fair to say already that Pinder is doing pretty much everything right so far.

Oh, and another note: those numbers are from FanGraphs, but I happen to know Pinder just put up a 5-for-6 performance last night that should help his line even more.

Wilberto Rivera, the clubs eighth round pick, has thrown four innings. So, you know. Lets wait on that one.

Level: Peoria

7 GS, 34 IP, 6 HR, 5.03 ERA, 16.5% K, 3.4% BB , 48.6% GB

Kruczynski was pushed to full-season ball immediately and so far has been bitten by the home run bug. Beyond that, though, hes pretty well held his own. Hes not striking out a ton of hitters, but hes also not walking basically anyone at all. So, pretty much as advertised so far.

Level: Johnson City

6 Games, 2 GS, 16.2 IP, 17 K, 3 BB, 0.55 ERA

Brett Seeburger has been nothing short of awesome so far. He is 22 years old already, having been drafted as a college senior, and so is fairly advanced for the Appy League, but hes still come out and been great. I havent been able to lay eyes on him yet for Johnson City, but as good as hes been out of the gate I need to get a look soon.

Level: State College

165 PA, .370/.433/.541, 9.1% BB, 18.2% K, .452 BABIP, 13 2B, 3 3B, 2 HR

Evan Mendoza is a bad, bad man. At least in State College, anyway.

So far in his brief minor league career, Mendoza has done nothing but barrel up baseballs left and right, sending screaming line drives pretty much foul pole to foul pole. The strikeouts are not bad, the walks are just fine, and the contact has been phenomenal.

The only downside of Mendozas profile is hes running a very low fly ball rate, just over 25% of his batted balls so far. Now, theres absolutely the small sample issue, but thats very much the kind of hitter he was in college as well. He hits the ball hard, but the swing is fairly flat and doesnt lend itself to much loft. Still, hes done nothing but crush New York-Penn pitching this summer, and you have to kind of love how many of these draftees have been startlingly good to begin their careers.

Level: State College

24.1 IP, 1.85 ERA, 21.6% K, 13.7% BB, .313 BABIP

As for the Cards newest Stanford acquisition, Summerville has had some control issues in the early going, with the walks way up compared to what you might have expected of him coming out of college. Hes walked twelve hitters in his last four starts, though, so I suspect theres probably some fatigue involved. It wouldnt shock me to see the organisation shut him down relatively soon if he continues to labour, just to try and avoid any kind of injury risk elevated by him being tired and pitching later in the year than he has previously.

Level: Johnson City

15 G, 17.1 IP, 1.04 ERA, 37.3% K, 6% BB

What we have here, ladies and gentlemen, is an extremely intriguing bullpen arm. Intriguing to the tune of 25 strikeouts in just 17 innings intriguing. Yes, its Johnson City, so a fairly conservative assignment for the lefty slinger, but those numbers are still remarkable. I thought at the time of the draft the Cards might have found a bit of a diamond in the rough with Patterson, and hes not disabusing me of that notion yet.

Level: Gulf Coast League (Rookie)

58 PA, 15.5% BB, 19.0% K, .311/.431/.489, 158 wRC+

Wow. Thats really about all there is to say about Donivan Williamss performance so far. I loved the bat speed, the arm strength, and the overall athleticism Williams brought to the table at the time of the draft, but in no way was I expected a kid with the kind of plate maturity hes shown immediately. High school kids do not come into pro ball and walk over 15% of the time. Or, at least, they dont do so while also striking out less than 20% of the time.

Its incredibly early, yes. But Donivan Williams has my full and undivided attention now.

Level: Gulf Coast League

82 PA, .219/.305/.370, 93 wRC+, 9.8% BB, 36.6% K, 3/3 SB, 2 HR

Terry Fuller has swung and missed quite a bit so far in pro ball. Thats not shocking, considering how short a time hes actually been concentrating fully on baseball, but its a good reminder that there were reasons why the guy who outhomered Bryce Harper at a showcase fell all the way to the fifteenth round. Not that he should have fallen anywhere near that far, mind you; Im just saying, there are reasons Fuller was not a top prospect in spite of some elite physical tools.

Hes looked very athletic in the outfield, and hit a couple of absolute moon shots right off the bat. Hes been fighting it as of late, however, it appears, which Im tempted to chalk at least partially up to tiring out, similarly to Andrew Summervilles declining control. Fuller the first couple weeks of his season was much more patient, but has hit a rough patch the last ten days or so. The swing and miss concerns me, but the tools are still there, and have plenty of time to emerge and be polished.

Jake Walsh (16) has struck out 25 in 19 innings for Johnson City.

Will Latcham (17) has struck out 22 in 16 innings at State College, walking just 5.

Irving Lopez (18), another second baseman, has a .405 on-base percentage for Johnson City, with four homers in less than 100 at-bats and a 13:14 walk to strikeout ratio.

Thomas St. Clair (24) has struck out almost 37% of the hitters hes faced this season at JC.

Kodi Whitley (27) is running a 14:2 K:BB ratio in nine innings for the GCL Cardinals.

Wood Myers (29) put up a 162 wRC+ at Johnson City, then moved up to State College and has struggled so far.

Taylor Bryant (33) is both walking and striking out 17.7% of the time for the GCL club. Hes old for the level as a college player, but thats still encouraging. The org needs to move him up, but Im not sure to where just yet. (Hes a shortstop.)

Michael Brdar (36) has more walks (9) than strikeouts (8) playing in the GCL. He has walks like he has consonants in his name, in fact.

So far, its hard to find too many really terrible performances from 2017 draftees for the Cardinals. There are a few, of course, but the early returns on the draft this year are remarkably exciting, considering how limited the options were. Its still far too early to make any sweeping declarations about the quality of the class, but that wont stop me from thinking very loudly that the Randy Flores drafting department is the best the Cards have had since Jeff Luhnow left town.

See the rest here:

System Sundays: 2017 Draftee Progress Reports - Viva El Birdos