San Diego Business Journal


LRAD Receives $700,000 in Follow-On Orders

LRAD Corp. of Rancho Bernardo said on May 12 that it received $700,000 in follow-on orders for its model 360X mass notification systems.

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Alan Clopine Promoted to CEO at Pure Financial

Pure Financial Advisors Inc., a Mission Valley-based investment managing firm, promoted its CFO and tax planning director Alan Clopine on Tuesday to CEO. The company's founder and current CEO Michael Fenison will step away from most executive responsibilities to work on the firm’s expansion efforts.

RQ Construction Awarded $45.1 Million Army Contract

Carlsbad-based RQ Construction LLC received a $45.1 million U.S. Army contract for a building project at a base south of Seattle.

Orexigen, Takeda Halt Study of Obesity Drug

San Diego’s Orexigen Therapeutics Inc. and its marketing partner Takeda Pharmaceutical Co. Ltd. on Tuesday abruptly terminated a study into how Orexigen’s Contrave obesity drug might affect the cardiovascular system.

Grocer Haggen Plans More Local Store Openings

Northwest grocery chain Haggen Inc. has scheduled several more openings as it converts and reopens 25 San Diego County locations that formerly housed Albertsons and Vons.

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New Boutique Movie Theater Opening in San Diego

Angelika Film Center & Café, a boutique-oriented affiliate of Los Angeles-based movie theater operator Reading International Inc., plans to open its first West Coast location at Carmel Mountain Plaza in San Diego.

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DeVry Appoints President to Lead San Diego Campus

DeVry University announced the appointment of Gregory Pace as president of the San Diego campus.

Cushman & Wakefield, DTZ Merging in $2 Billion Deal

Global commercial real estate services companies Cushman & Wakefield and DTZ have agreed to merge, as DTZ buys Cushman in a deal valued at approximately $2 billion.

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Ligand Pharmaceuticals Acquires a Portfolio From Swiss Firm for $4 Million

Ligand Pharmaceuticals Inc. has spent $4 million to acquire a portfolio of more than 15 biologic development programs from Swiss biotech firm Selexis SA, which could provide future milestone and royalty payments.

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Carlsbad Office Building Purchased for $12.2 Million

San Francisco-based Graymark has acquired a Carlsbad office building for $12.2 million, according to commercial brokerage company DTZ.

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Congresswoman Cuts First Steel for Tanker at NASSCO Ceremony

Rep. Susan Davis, D-San Diego, ceremonially cut the first steel for a commercial ship being built at the General Dynamics NASSCO shipyard in Barrio Logan on May 8.

Cidara Therapeutics Receives Fast-Track Status for Drug Candidate

San Diego-based Cidara Therapeutics Inc. has received fast-track designation from the U.S. Food and Drug Administration for its leading drug candidate for fungal infections.

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General Atomics ASI Awarded 2 Defense Contracts

General Atomics Aeronautical Systems Inc., a maker of unmanned aircraft and related electronics, recently received one contract each from its U.S. Army and U.S. Air Force customers.

Maxwell Technologies Names Lyle CFO and Senior VP

Maxwell Technologies Inc., a developer and manufacturer of energy storage and power delivery solutions, announced that David Lyle has joined the company as senior vice president, chief financial officer, treasurer and secretary.

NoteVault Names 2 to Leadership Roles

NoteVault, a provider of voice-to-text-based mobile reporting solutions for the commercial construction industry, announced the hiring of two executives.

Acadia Pharmaceuticals Inc. Reports Q1 Net Loss of $40.4M

San Diego-based Acadia Pharmaceuticals Inc. reported a net loss of $40.4 million in the first quarter of 2015, more than double the net loss of $17.8 million during the same quarter last year.

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Housing Commission Acquires Clairemont Mesa Apartments for $14.7M

he San Diego Housing Commission has acquired the 120-unit Village North Senior Garden Apartments in Clairemont Mesa East for approximately $14.7 million, according to CoStar Group and public data.

The Business Calendar for the Week of May 11, 2015

Some of the business events planned in the county for the week of May 11, 2015, and beyond.

Vical Inc. Reports Q1 Net Loss of $3.8 Million

San Diego-based Vical Inc. reported a net loss of $3.8 million for the first quarter of 2015, compared with a net loss of $3.5 million in the same quarter the previous year.

The County's Median Home Price Is $520,000 for April

The median sale price of previously owned homes hit $520,000 in April, a six percent increase from last year, according to data from the Greater San Diego Association of Realtors.