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Laboratory Corporation of America (NYSE: LH | Quote | Chart | News | PowerRating) said on 23/06/09 that it has agreed to buy Monogram Biosciences Inc (Nasdaq: MGRM | Quote | Chart | News | PowerRating) a maker of diagnostic products for HIV and cancer, for about $106.7 million. That news sent MGRM shares up +2.84 (169.05%) to $4.52. Monogram said its board unanimously determined the offer to be in the best interest of the company and recommended that its stockholders tender their shares in the offer when it is made.
Symyx Technologies, Inc. (Nasdaq:SMMX) announced on 23/06/09 it has been named one of the Top 10 Life Science Software Vendors in a May 2009 report published by Health Industry Insights, an IDC company. Symyx electronic laboratory notebook, data acquisition, decision-support software and scientific databases give scientists collaborative access to personal, corporate and public sources of data to support information-driven R&D. That sent shares up to $5.82 +0.56 (10.65%)
From our FDA and Clinical Trials Calendar, look for Advanced Life Sciences Holdings, Inc. (OTC: ADLS) shares to continue to rise after the company on 23/06/09 announced that a second non-human primate study involving its novel, once-a-day, oral antibiotic Restanza(TM) (cethromycin), showed that a 14-day course of Restanza achieved a 100% survival rate against an inhaled lethal dose of anthrax. All of the animals in the study that received 16 mg/kg once-a-day (the human equivalent dose of 300 mg) of Restanza within 24 hours after exposure to anthrax survived while none of the animals that received placebo survived. The study was supported by the National Institute of Allergy and Infectious Diseases (NIAID), an institute of the National Institutes of Health (NIH), which is a component of the Department of Health and Human Services (HHS), an agency of the U.S. Government. The company is waiting for approval of their Cethromycin NDA with an expected PDUFA decision date of 31/07/09. Shares climbed to $0.60 today, up +0.04 (7.14%).
Acura Pharmaceuticals, Inc.(NASDAQ:ACUR) dropped to $5.89 -1.68 (-22.19%) after the company said on 23/06/09 that its new drug application for Acurox immediate-release pain tablets is unlikely to be approved by the U.S. Food and Drug Administration's June 30 deadline, raising the possibility Acurox could ultimately be rejected.
Halozyme Therapeutics (NASDAQ:HALO) shares dropped to $6.48 -1.05 (-13.94%)after the company announced on 23/06/09 that it has raised gross proceeds of $40 million through the public offering of 6,150,000 million newly issued shares of its common stock. The public offering price of $6.50 per share represents a discount of 11.6% relative to the average closing share price during the five trading days preceding the public offering. The biopharmaceutical company raised a total of about $40 million after selling one million more shares than anticipated. Halozyme had about 83 million shares outstanding prior to the offering.
Investors are invited to read our full report for the rest of the healthcare companies which moved Tuesday's markets at BioMedReports.Com.
Biotech investors interested in seeing the complete database of clinical trials and upcoming FDA decisions can access that information here:
http://biomedreports.com/component/content/article/548.html
Disclosure: No positions.
About BiomedReports.Com
BioMedReports.com is a news portal covering the biomedical news and financial sector. It features its own blog, discussion forum, stock research reports, news feeds, videos, press release capability, stock commentaries, and other unique content - including FDA and Clinical Trial Calendars plus a database that includes about 1,000 stocks and exchange-traded funds from the healthcare sector which are organized into various new healthcare stock indexes.
For more biomedical sector and investment news, go to www.BioMedReports.com
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