San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

Annex Brands Acquires 27 Parcel Plus Franchises

Annex Brands, Inc. announced the acquisition of 27 Parcel Plus shipping franchises from Eagle Franchise Systems, Inc. and its parent, International Center for Entrepreneurial Development Inc., based in Cypress, Texas.

Overland Storage Sets Special Shareholders Meeting

Overland Storage Inc., the San Diego provider of data storage systems, set a special shareholders meeting for Nov. 28 to approve the company’s merger with Ontario, Canada-based Sphere 3D, but approval would appear to be a foregone conclusion.

General Atomics Awarded U.S. Army Contract Worth $17.1 Million

The U.S. Army awarded Poway-based General Atomics Aeronautical Systems Inc. a contract modification that may be worth as much as $17.1 million.

Moody's Upgrades City of San Diego's Bond Rating

Moody’s Investors Services upgraded its rating for the city of San Diego’s outstanding lease revenue bonds from A2 to A1, with a stable outlook.

$60 Million Math-Science Building Planned at Southwestern College

The San Diego office of general contractor Rudolph and Sletten was recently awarded the construction contract for a $60 million Math, Science and Engineering Building planned at Southwestern College in Chula Vista.

InfoSonics Corp. Reports Q3 Net Loss of $633,000

InfoSonics Corp. — the San Diego company behind the verykool brand of smartphones and tablets, which it distributes to customers in the Americas — reported a net loss of $633,000 on net sales of $8.1 million during its third quarter. The company essentially broke even in the same quarter one year ago, with net income of $34,000 on net sales of $9.9 million.

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Vista Industrial Building Sells for $13.55 Million

An entity listed as KI-Vista-LPSM LLC has purchased a building at Vista Business Park for $13.55 million, which it is leasing to Escondido-based Stone Brewing Co. for a previously confirmed new distribution center, according to brokerage company Cushman & Wakefield Inc.

Business Calendar for Week of November 17, 2014

Some of the business events planned for the county for the week of November 17, 2014, and beyond.

Otonomy Inc. Reports Increased R&D Expenses in Q3

San Diego-based Otonomy Inc., a clinical-stage biopharmaceutical company developing treatments for the inner and middle ear, announced financial results for the third quarter of 2014.

Merger Approval Subject of Overland Storage's Shareholders Meeting

Overland Storage Inc., the San Diego provider of data storage systems, set a special shareholders meeting for Nov. 28 to approve the company’s merger with Ontario, Canada-based Sphere 3D, but approval would appear to be a foregone conclusion.

Annex Brands Acquires 27 Parcel Plus Franchises

Annex Brands, Inc. announced the acquisition of 27 Parcel Plus shipping franchises from Eagle Franchise Systems, Inc. and its parent, International Center for Entrepreneurial Development Inc., based in Cypress, Texas.

Receptos CEO Named Chairman of Tocagen's Board of Directors

Tocagen Inc., a clinical-stage company working on therapies that boost the immune response to cancer, announced that Faheem Hasnain, president and chief executive officer of Receptos Inc., has been appointed as chairman of the board of directors.

California Western School of Law Takes First Prize in Competition

In a showdown mock trial competition involving San Diego’s three law schools, California Western School of Law came out on top, besting the litigator teams from Thomas Jefferson and University of San Diego schools of law.

Sophiris Bio Inc. Reports Third Quarter Results

La Jolla-based Sophiris Bio Inc., a clinical stage biopharmaceutical company developing products for the treatment of urological diseases, announced its third quarter financial results.

Philanthropist Sally Thornton Leaves Mitek Board

Sally Thornton, a director of San Diego-based Mitek Systems Inc. for decades and the wife of company Chairman John Thornton, stepped down from her seat on the board Nov. 4, the company told securities regulators.

Hush Kickstarter Campaign Raises One-Third of Goal By Second Day

Hush, a technology company in residence at the EvoNexus incubator downtown, attained one-third of its $100,000 donation goal by the second day of its Kickstarter crowd funding campaign on Nov. 13.

Pfenex Inc. Reports Q3 Revenue of $2.8 Million

Pfenex Inc., a clinical-stage biotechnology company that makes biosimilars, including vaccines for anthrax and malaria, reported financial results for the third quarter that ended Sept. 30, 2014.

Rady's Intellectual Capital Ranked No. 1 by Bloomberg Businessweek

The Rady School of Management at the University of California, San Diego ranked 1st in the United States in intellectual capital in Bloomberg Businessweek’s business school rankings.

Anesa Chaibi Named to Board of Regal Beloit Corp.

San Diego executive Anesa Chaibi has been named to a seat on the board of Regal Beloit Corp., a $3.1 billion Wisconsin company that manufactures electric motors, generators and controls.

Mast Therapeutics Closes Underwritten Public Offering

Mast Therapeutics Inc., a clinical stage biopharmaceutical company, announced the closing of its underwritten public offering of $21 million in equity securities.