NeoPharm Jumps on Trial News
NeoPharm (NEOL ) shares jumped after the Data Monitoring Committee recommends that IL13-PE38QQR Pivotal Phase III Precise trial, for the treatment of Glioblastoma Multiforme (the most aggressive form of brain cancer), to continue as planned under approved protocol.
Mercury Interactive (MERQE ) shares slumped after the company requests an extension of NASDAQ's deadline for filing its 10-Qs for the June and September quarters.
OfficeMax (OMX ) fell on news that OfficeMax stakeholder K Capital Partners says in 13-D filing that it does not plan to devote the resources necessary to conduct a proxy solicitation in connection with election of directors at the company's 2006 annual meeting.
NutriSystem (NTRI ) shares fell, as Barron's "The Trader" column suggests that the shares, which have appreciated 60% this quarter, might be overvalued given the company's growth potential.
Continental Airlines (CAL ) was up after Prudential boosted estimates and targets within the airline industry to reflect reduced fuel price assumption.
Guidant (GDT ) received a warning letter from the FDA related to the FDA's inspection of the company's Cardiac Rhythm Management Facility in St. Paul, Minnesota. It also says fourth-quarter sales would be sub-par.
Bristol-Myers Squibb (BMY ) could move on news that the FDA approved Orencia, the first selective modulator of co-stimulatory signal required for full T-cell activation, for treatment of rheumatoid arthritis.
Sirius Satellite Radio (SIRI ) says it recently surpassed three million subscribers and expects a strong yearend.
Applera Corp. (ABI ) agreed to acquire Research Products Division of Ambion, a supplier of RNA-based reagents for life science research and drug development, for about $273 million in cash.
Overstock.com (OSTK ) sees breakeven to positive fourth-quarter EBITDA, but says it would have negative operating cash flows for 2005 due to build in inventory balances.
Catapult Communications (CATT ) cut $16 million first-quarter revenue forecast to $11-$12 million. The company notes it will have orders totaling $2.5 million that cannot be recognized because of engineering delays. It also notes ongoing lower order input in Japan and engineering delays.
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