San Diego Business Journal

SD FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

AnaptysBio Inc. Partnership Deal Could Be Worth $125M

AnaptysBio Inc. could receive up to $125 million from a new partnership with Massachusetts cancer drugmaker Tesaro Inc., including $17 million upfront

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Region Earns a Reputation for Being Startup Friendly

Forbes recently named San Diego as the No. 1 city in which to launch a startup.

The Net Profit Pie Chart Is Sliced in Favor of the Biggest Banks

Last month, the nation’s top banking regulator, the Federal Deposit Insurance Corp., reported that the aggregate net profit of the nearly 7,000 banks in the nation last year increased 10 percent to $154.7 billion.

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Sudberry Properties Buys Scripps Ranch Buildings for $8 Million

San Diego-based Sudberry Properties Inc. has purchased two Scripps Ranch buildings for $8 million, on a site where it plans to build a shopping center, according to CoStar Group and public data.

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ROIC Buys Poway Retail Center for $43.9 Million

San Diego-based Retail Opportunity Investments Corp., also known as ROIC, has purchased Creekside Plaza, a six-building shopping center in Poway, for approximately $43.9 million, according to CoStar Group and public data.

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Lumena Pharmaceuticals Closes $45M Funding Round

Lumena Pharmaceuticals Inc. has closed a $45 million Series B round, and will use the funding to develop drugs for two diseases of the liver.

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Bridgepoint Education Reports Revenue Down Nearly 21% for 2013

Bridgepoint Education Inc., the San Diego operator of Ashford University and the University of the Rockies, reported lower revenue and profit for the fourth quarter and 2013.

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SR Commercial Buys Vista Industrial Portfolio for $15.2 million

Solana Beach-based investment and development firm SR Commercial has acquired four Vista industrial buildings, totaling more than 168,000 square feet, for $15.2 million.

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Local CB&T President Adds Northern California Division to Responsibilities

Tory Nixon, the San Diego division president for California Bank & Trust, was named division president to CB&T’s Northern California division as well.

Port Approves Bank Financing for Kona Kai Resort Renovation

The Unified Port of San Diego has approved a financing plan for a renovation of Kona Kai Resort at Shelter Island, under which hotel operators will obtain a maximum $16.5 million loan from Torrey Pines Bank.

The County's Unemployment Rate Increases to 7% in January

San Diego’s unemployment rate increased to 7 percent in January from December’s rate of 6.5 percent, as the region’s net job loss during the month was 16,400, according to the latest report from the state’s Employment Development Department.

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The Acquisition of Medistem Is Completed

Intrexon Corp. has completed its acquisition of San Diego-based Medistem Inc., the acquiring company announced.

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Novatel Reports Net Loss of 43.4M for 2013

Novatel Wireless Inc., the San Diego-based maker of wireless modems and software, reported a 2013 fourth quarter net loss of $21.3 million, compared with a net loss of $14.9 million in the like quarter of 2012.

Acquisition Is All About Getting the Price Right

Business: Determining Value Can Involve a Variety Of Factors and Approaches

If you’re planning to buy a business, it’s essential to establish its value before making an offer. Many factors must be taken into consideration in order to get a good return on your investment and minimize your risks.

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Smooth Selling

SALES: M&As Bring Up Legal, Financial and Even Emotional Issues

Selling a business is a complex undertaking that requires patience and careful planning to maximize your company’s market value.