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Briefs: Amgen, CU Bancorp, Simulations Plus, Wesco

Clinical trials will begin this fall for an advanced melanoma drug developed in a collaboration of Amgen Inc. and Merck & Co. Inc. Amgen, in Thousand Oaks, and Merck, in Whitehouse Station, N.J., are working on talimogene laherparepvec, an investigational oncolytic immunotherapy, combined with MK-3475, an investigational immunotherapy. “Talimogene laherparepvec has shown encouraging Phase 3 clinical results as a monotherapy in patients with metastatic melanoma,” said Dr. David Chang, vice president of global development at Amgen, in a prepared statement. Shares of Amgen fell 71 cents, less than 1percent, to $115.07 on the Nasdaq. CU Bancorp, parent of California United Bank, beat analyst estimates for earnings in the fourth quarter. The Encino financial institution reported net income of $2.8 million (26 cents a share) for the quarter ending Dec. 31 compared with $1.6 million (15 cents) in the same period a year earlier. Total assets increased 16 percent to $1.4 billion. Analyst estimates were for earnings per share of 23 cents, according to Thomson Financial Network. Shares closed Wednesday down a penny or less than 1 percent to $17.35 in trading on the Nasdaq. Simulations Plus Inc. announced Wednesday it will pay shareholders a quarterly dividend of 5 cents a share. The Lancaster company, which makes software used in pharmaceutical research, will pay the dividend on Feb. 24 to shareholders of record as of Feb. 17. The firm estimates the total cost of the dividend to be $808,000. Shares fell 13 cents, or more than 2 percent, to $5.45 on the Nasdaq. Wesco Aircraft Holdings Inc. fell short of analyst forecasts on revenue and earnings in the fiscal first quarter. The Valencia aircraft parts supplier reported net income of 24.4 million (25 cents a share) for the quarter ending Dec. 31 compared with 18.4 million (19 cents) in the same period a year earlier. Revenue rose 6.4 percent to $224.7 million,. Analysts estimated earnings of 29 cents on revenue of $230 million, according to Thomson Financial Network. Shares of Wesco fell 25 cents, or 1 percent, to $21.76 on the New York Stock Exchange.

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