Resonant might run out of operating cash after second quarter
Resonant, a late-stage development company based in Goleta that creates filter designs for radio frequency front-ends for the mobile device industry, said it might only have enough cash to support operations though the second quarter of 2016. The company announced the news when it released 2015 fiscal year results in a March 23 news release. Read More →
Cal Amp stock falls after earnings forecast lowered
Shares of Oxnard-based Cal Amp, which makes products for the wireless sector, fell March 22 after the company lowered its earnings forecast for its fiscal year fourth quarter, which ended Feb. 29. On March 21, Cal Amp lowered its revenue estimates for the quarter from an estimated range of $73 million to $78 million to Read More →
Study results positive for drug Amgen developing to treat osteoporosis
Thousand Oaks-based biotech giant Amgen and Brussels, Belgium-based UCB announced positive results in a Phase 3 trial of romosozumab, an antibody designed to treat osteoporosis. The drug works by inhibiting a protein which results in increased bone formation and decreased bone breakdown. However, the drug is not approved by any regulatory authority for use to Read More →
Haas Automation’s Formula 1 racing team does well in debut
Oxnard-based Haas Automation’s new Formula 1 racing team had a nice showing in its inaugural race on the open-wheel circuit. French driver Romain Grosjean finished near the front with a surprising sixth place finish in the Australian Grand Prix on March 20. New Formula 1 teams traditionally serve apprenticeships at the back of the pack Read More →
Montecito Bank & Trust gives $20,000 to region’s nonprofits
Santa Barbara-based Montecito Bank & Trust handed out $20,000 in grants to 10 of the region’s nonprofits to celebrate the bank’s 41st anniversary. For the past 24 years, the largest financial institution headquartered in Santa Barbara County has offered financial aid to nonprofits handpicked by its staff. MB&T held its annual celebration on March 17 Read More →
Santa Barbara Neighborhood Clinics get $325,000 to combat opioid abuse
The Santa Barbara Neighborhood Clinics received $325,000 of federal grant funding to combat opioid abuse. The U.S. Department of Health and Human Services awarded the funding through its Substance Abuse Service Expansion Awards program. The HHS has issued $94 million in grants to 271 health centers throughout the country to expand substance abuse services. Opioid Read More →
Venoco files for Chapter 11 bankruptcy
Venoco, the Denver-based oil and gas company with substantial operations in the tri-county region, has filed a pre-packaged Chapter 11 bankruptcy after agreeing with lenders to slash $1 billion in debt. Venoco said March 18 that it reached an agreement with its senior lenders on a restructuring agreement. The company earlier said it was suspending Read More →
