(VOCS) (QCOR) (AGIO) Higher; (GNK) (MNKD) (DDD) Lower (more...)
Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) 25.8% HIGHER; Mallinckrodt plc (NYSE: MNK) and Questcor entered into a definitive merger agreement under which Mallinckrodt will acquire Questcor in a transaction valued at approximately $5.6 billion. The transaction was unanimously approved by the Boards of Directors of both companies. Subject to customary closing conditions, the transaction is currently expected to be completed in the third calendar quarter of 2014. Under the terms of the transaction, Questcor shareholders will receive $30.00 per share in cash and 0.897 Mallinckrodt shares for each share of Questcor common stock they own, for a total approximate consideration of $86.10 per Questcor share.
Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) 24.5% HIGHER; announced that data from its lead, first-in-class program AG-221 will be presented today at a Clinical Trials Symposium titled Novel Immune and Targeted Therapies for Hematological Malignancies and Solid Tumors at the American Association for Cancer Research (AACR) Annual Meeting 2014. These preliminary data demonstrate the clinical activity, tolerability and unique mechanism of action of AG-221 in patients with advanced hematologic malignancies with an isocitrate dehydrogenase-2 (IDH2) mutation... The preliminary data to be presented by Dr. Stein show that in the first two cohorts of the Phase 1 trial of AG-221, six of seven evaluable patients had objective responses, including three complete remissions (CR) and two complete remissions with incomplete platelet recovery (CRp). AG-221 also substantially lowered plasma levels of the oncometabolite 2-hydroxyglutarate (2HG) with a favorable exposure profile and good tolerability to date.
Genco Shipping & Trading Ltd. (NYSE: GNK) 13.4% LOWER; gives back some of Friday's gains which were related to a deal with lenders
MannKind Corporation (Nasdaq: MNKD) 10.7% LOWER; announced that the U.S. Food and Drug Administration (FDA) has extended the Prescription Drug User Fee Act (PDUFA) date for AFREZZA® by three months to July 15, 2014 in order to provide time for a full review of information submitted by MannKind in response to the FDA's requests.
Nam Tai Electronics, Inc. (NYSE: NTE) 10.3% HIGHER; sees upside
IsoRay Inc. (NYSE: ISR) 10% HIGHER; announced the first prostate cancer implant combining IsoRay's Cesium-131 seeds with C4 Imaging's Sirius positive signal MRI markers.
Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM) 5.5% HIGHER; announced data from studies demonstrating that an equivalent antibody to Peregrine's lead immunotherapeutic antibody candidate bavituximab administered with stereotactic body radiation therapy (SBRT) showed a 100% improvement in survival and favorable tumor eradication in a model of non-small cell lung cancer (NSCLC) compared to irradiation alone. These data were presented yesterday at the 105th Annual Meeting of the American Association for Cancer Research (AACR) being held in San Diego, California from April 5-9, 2014. Bavituximab is an investigational immunotherapy currently being evaluated in NSCLC as part of the SUNRISE pivotal Phase III clinical trial.
3D Systems Corp. (NYSE: DDD) 3.2% LOWER; continued weakness
Mattel Inc. (NASDAQ: MAT) 2.9% LOWER; BMO Capital downgraded from Market Perform to Underperform with a price target of $33.00 (from $40.00).
Rocket Fuel (NASDAQ: FUEL) 2.9% HIGHER; BMO Capital upgraded from Market Perform to Outperform with a price target of $58, saying concerns over take-rate pressure is overdone.
Pfizer Inc. (NYSE: PFE) 2.8% LOWER; announced detailed results from the PALOMA-1 study, a randomized Phase 2 study of palbociclib (PD-0332991) in combination with letrozole. PALOMA-1 achieved its primary endpoint by significantly prolonging progression-free survival (PFS) compared with letrozole alone in post-menopausal women with estrogen receptor positive (ER+), human epidermal growth factor receptor 2 negative (HER2-) locally advanced or metastatic breast cancer. For women treated with the combination of palbociclib plus letrozole, the median PFS was 20.2 months, a statistically significant improvement compared to the 10.2 months of PFS in women who received letrozole alone (HR=0.488 [95% CI: 0.319, 0.748]; p=0.0004). These data will be presented today by Dr. Richard S. Finn, associate professor of medicine at University of California, Los Angeles (UCLA) at the American Association of Cancer Research (AACR) Annual Meeting 2014 in San Diego (Abstract #CT101).
Zynga (NASDAQ: ZNGA) 2.4% HIGHER; Wedbush analyst Michael Pachter reiterated an Outperform rating and $7 price target and added the stock to its 'Best Ideas List' saying they expect Zynga to meet or exceed Q1 guidance and reiterate full-year guidance when it reports results on Wednesday, April 23.
Pandora (NYSE: P) 1.2% HIGHER; Wedbush upgraded from Neutral to Outperform with a price target of $35 citing valuation and views the company as well-positioned for a Q1 beat and full-year guidance increase.
American Airlines Group Inc. (NYSE: AAL) 1.2% HIGHER; new Buy at Goldman
Mallinckrodt plc (NYSE: MNK) 1% HIGHER; Acquires Questcor
Netflix (NASDAQ: NFLX) 1% HIGHER; Oppenheimer upgraded from Perform to Outperform.
Source: http://www.streetinsider.com
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