San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

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Ballast Point Takes Overseas Delivery of Large New Storage Tanks

The Port of San Diego recently received a shipment of four 24-ton fermentation and storage tanks bound for Ballast Point Brewing & Spirits, as the brewer expands production at its main facility in Miramar.

Ionis Sells Drug Rights to Kynamro in Deal Potentially Worth More Than $95M

In a deal worth up to $95 million-plus, San Diego drugmaker Ionis Pharmaceuticals sold global rights to develop and commercialize its marketed drug Kynamro to Chicago-based Kastle Therapeutics.

Illumina's Revenue Fails to Match Forecasts for Q1

San Diego’s Illumina Inc. reported quarterly earnings May 3, falling short of analyst expectations and further slipping the company’s stock.

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Sudberry Properties Breaking Ground on Imperial Beach Retail Center

Developer Sudberry Properties plans a May 5 ground-breaking for Breakwater Town Center, a new shopping center and community hub in Imperial Beach.

Bridgepoint Education Reports Q1 Results

Bridgepoint Education, a local provider of postsecondary education services, reported May 3 its results for the first quarter of 2016, ending on March 31, with revenue down from $142.5 million in 2015 to $133 million in 2016.

Mitek Systems Inc. Reports Q2 Revenue of $8.5 Million

Kearny Mesa-based Mitek Systems Inc. reported net income of $600,000, or 2 cents per diluted share, on revenue of $8.5 million in its second quarter of fiscal 2016, which ended March 31.

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Eureka! Restaurant Joins Lineup at SDSU Mixed-Use Plaza

San Diego State University has signed the restaurant chain Eureka! as the latest new tenant at its mixed-use South Campus Plaza, currently under construction.

Indus Navy Deal Could Be Worth $2.92M to Contractors

Indus Technology Inc. said on May 3 that it is leading a team that received a U.S. Navy contract that could we worth up to $2.92 million over five years, if the Navy exercises all of its options.

Dexcom Inc. Acquires European Distribution Partner Nintamed

Dexcom Inc., one of San Diego’s biggest public medical technology firms, announced May 2 that it will acquire Nintamed, a distribution partner with presence in Germany, Switzerland and Austria.

Cubic Reports Sales of $366 Million for Q2

Cubic Corp., the defense contractor that also makes fare-collection technology for mass transit, reported net income of $10.1 million, or 38 cents per diluted share, on sales of $366 million for the second quarter of its 2016 fiscal year.

Philanthropists Donate $11.8 million to UC San Diego to Launch Geriatric Emergency Care Unit

Local philanthropists Gary and Mary West have provided $11.8 million to the University of California, San Diego to create a senior emergency care unit at the future Jacobs Medical Center.

MedOptions To Acquire San Diego-Based Vericare

MedOptions announced a definitive agreement to acquire San Diego’s Vericare, a behavioral health clinical care provider.

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Wisconsin-Based Wonderist Agency Expands Into San Diego

Wisconsin-based Wonderist Agency recently announced the opening of its new office in Point Loma.

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Petherbridge Named President and CEO of Excel Trust

San Diego-headquartered Excel Trust has appointed Luke J. Petherbridge as chief executive officer and president.

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Charter School Buys La Mesa Retail Property for $2.1 Million

Student Success Programs, a local charter school, has acquired a La Mesa retail property for approximately $2.1 million, with plans to set up school operations, according to brokerage firm Lee & Associates.

Biocept Prices Common Stock Offering

San Diego-based Biocept Inc. is hoping to raise $5 million in an offering of its common stock, the company announced April 29.

Slight Increase Boosts a Strong Local Economic Index

The University of San Diego’s economic index rose 0.4 percent in March to a level not seen since the exuberant days of 2005-2007.

The Business Calendar for the Week of May 2, 2016

Some of the business events planned in the county for the week of May 2, 2016, and beyond.

Otay Mesa Industrial Property Sells for $3.5 Million

A buyer recorded as TP Otay Mesa LLC has acquired a two-parcel industrial site in Otay Mesa for $3.5 million, according to brokerage firm Lee & Associates.

Startup MyDx Makes Revenue Gains

San Diego’s MyDx Inc., a company that makes a handheld chemical analyzer for consumers, announced a jump in quarterly revenue as the startup gains traction.