Cross Timbers Royalty Trust
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Company profile

Cross Timbers Royalty Trust (the Trust) is an express trust. The net profits interests are the principal asset of the Trust. The Trust receives net profits income from the net profit interests generally on the last business day of each month. The net profits interests comprise of approximately 90% net profits interests, which are carved from producing royalty and overriding royalty interest properties in Texas, Oklahoma and New Mexico, and 11.11% nonparticipating royalty interests in nonproducing properties located primarily in Texas and Oklahoma; and the approximately 75% net profits interests which are carved from working interests in four properties in Texas and three properties in Oklahoma. Its underlying royalties, underlying nonproducing royalties and underlying working interest properties are owned by XTO Energy. The underlying properties include approximately 2,900 producing properties in Texas, Oklahoma and New Mexico.

Closing Price
Day's Change
-0.171 (-0.77%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:

Amarin stock surges after plan to cut total workforce by 40%

8:46 am ET June 6, 2022 (MarketWatch)

Shares of Amarin Corp. (AMRN) hiked up 5.4% in premarket trading Monday, after the drug maker said it would reduce its workforce by 40% as part of its plan to cut operating costs by $100 million over the next 12 months. The cuts would represent about 224 jobs, as the company had 560 full-time employees as of Dec. 31. The company said most of the cost cuts would come from the job cuts, which will include a 65% reduction in the U.S. commercial team from current levels, or by about 90% from pre-pandemic and pre-generic competition levels. "While we continue to see value in branded VASCEPA in the U.S., the current operating landscape remains challenging with uncertainty related to future revenue from the U.S. business," said Chief Executive Karim Mikhail. "These reductions are necessary as we invest in our European launches while maintaining a strong, core U.S. Commercial team to support branded VASCEPA revenues in the U.S." Vascepa has been approved by the U.S. Food and Drug Administration for the treatment of high-risk patients with persistent cardiovascular risk. The stock has plunged 50.2% year to date through Friday, while the S&P 500 has lost 13.8%.

-Tomi Kilgore


(END) Dow Jones Newswires

June 06, 2022 08:46 ET (12:46 GMT)

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