San Diego Business Journal


Otonomy Submits Drug for FDA Approval

Otonomy Inc., a company that makes treatments for the middle and inner ear, has submitted a drug candidate for regulatory approval following encouraging Phase 3 data.

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Isis Pharmaceuticals Reports Q4 Results

Isis Pharmaceuticals Inc. reported a significantly improved fourth quarter net income of $31 million, up from a net loss of $24.3 million in the same quarter last year.

Hot Tub Maker Watkins Acquires Endless Pools

Vista-based Watkins Manufacturing Corp., the world’s largest manufacturer of hot tubs, has acquired Endless Pools Inc. through its parent company, Masco Corp.

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Apartments Near Imperial Beach Sold for $20.2 Million

The Apartment Co. of San Diego has acquired the 134-unit Clubhouse at Imperial Beach apartment community for $20.2 million, according to real estate services company HFF, which represented the seller.

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Downtown Residence Inn Sold for $90 Million

Chatham Lodging Trust of Palm Beach, Fla., has purchased the 240-room Residence Inn San Diego Downtown hotel for $90 million, according to CoStar Group and public data.

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ResortCom International’s Chairman Steps Down

John E. Small, chairman of San Diego-based ResortCom International for the last 16 years, announced that he is stepping down effective May 1.

Business Calendar for Week of March 2, 2015

Some of the business events planned in the county for the week of March 2, 2015, and beyond.

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Sempra Reports 2014 Earnings of $1.16 Billion

Sempra Energy, the San Diego-based energy holding company and parent to San Diego Gas & Electric Co., unveiled its 2014 financial results Feb. 26, reporting earnings of $1.16 billion on total revenue of $11.04 billion.

Cox Calls on Congress to Overturn FCC Decision on Net Neutrality

Cox Communications, one of the region’s dominant cable providers, came out against the Federal Communications Commission’s Feb. 26 decision to regulate the Internet, saying the move was “sure to be challenged in court” and calling for congressional action.

County’s Construction Contract Values Rose 69 Percent in January

San Diego County’s contracts for future construction rose 69 percent in January from a year ago, topping $301.6 million, according to the latest monthly figures from Dodge Data & Analytics.

Ryan Granito Appointed Vice President of Real Estate at Fundrise

Ryan Granito has been named vice president of real estate for Fundrise, a real estate crowdfunding platform.

Senomyx Reports Q4 Loss of $3.1 Million

Senomyx Inc., a biotechnology company that makes flavor-enhancers, on Thursday reported a loss of $3.1 million in its fourth quarter.

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Sudberry Properties Opens First Phase of West Park Apartments

San Diego-based developer Sudberry Properties recently completed and opened the first phase of its 612-unit West Park, a $100 million apartment project located at its larger Civita mixed-use development in Mission Valley.

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BioMed Realty Realigns Executive Team as President Leaves Post

San Diego-based BioMed Realty Trust Inc. has announced a realignment of its executive team, following the departure of company President and Chief Operating Officer Kent Griffin.

3M Acquires Ivera Medical Corp. for Undisclosed Price

Ivera Medical Corp., a San Diego-based company that makes products that disinfect and protect devices used to access a patient’s bloodstream, is being purchased by 3M Co. of St. Paul, Minn.

California Economic Activity Index Makes Gains

Comerica Bank’s California Economic Activity Index grew in December, climbing 1.6 percentage points to a level of 118.3. December’s reading is 34 points, or 41 percent, above the index cyclical low of 83.8.

Meritage Pharma Acquired by Drugmaker Shire for $70 Million

Dublin-based drugmaker Shire Plc has acquired San Diego-based Meritage Pharma for an upfront payment of $70 million, with another $175 million contingent on meeting milestones, according to a recent news release.

Sempra Investor Group Seeks OK to Expand Natural Gas Plant

Cameron LNG announced on Feb. 24 that it is seeking federal approval to expand its Louisiana natural gas liquefaction plant from three units to five.

Former Assembly Speaker Willie Brown Joins ecoATM Board

Former California Assembly Speaker Willie Brown has joined the advisory board of ecoATM, the San Diego company that produces and maintains a network of electronics recycling kiosks.

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Carlsbad Office Property Sold for $19.5 Million

Buchanan Street Partners of Newport Beach has purchased a Carlsbad office building for $19.5 million, the company announced.