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Piper Jaffray Gives Color On Ardea Biosciences Following Earnings
Monday, March 14, 2011 - 8:38am | 210Ardea Biosciences (NASDAQ: RDEA) reported 4Q10 non-GAAP earnings of $0.05, above Piper Jaffray's estimate of ($0.33). The unexpected gain was primarily driven by a $15mn milestone from Bayer related to the initiation of RDEA119's Phase II trial. In 1H11, Piper expects Ardea to initiate RDEA594's...
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A Peek Into The Market Before The Trading Starts
Monday, March 14, 2011 - 7:30am | 424Pre-open moversUS stock futures are lower this morning following strong drop in Japanese markets after Friday's strong earthquake. Futures on the Dow Jones Industrial Average dipped 48 points to 11,955.00 and futures on the S&P 500 index fell 5.80 points to 1,295.40. Nasdaq 100 futures dropped...
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Watson Announces Favorable District Court Ruling in Generic Fentora Patent Suit
Monday, March 14, 2011 - 7:11am | 93Watson Pharmaceuticals, Inc. (NYSE: WPI), today announced that the United States District Court for the District of Delaware has ruled that Watson's generic version of Fentora does not infringe United States Patent Nos. 6,200,604 or 6,974,590 and that the '604 and '590 Patents are invalid. A...
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Biodel Announces Accelerated Development Plan for Ultra-Rapid-Acting Insulins
Monday, March 14, 2011 - 7:09am | 179Biodel Inc. (Nasdaq: BIOD) announced today that it has selected two new formulations of recombinant human insulin for clinical testing and is accelerating clinical development plans of these mealtime insulin drug candidates. The new formulations, BIOD-105 and BIOD-107, are designed to result in...
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Lilly Makes an Irrevocable Offer to Acquire Janssen Animal Health
Monday, March 14, 2011 - 7:08am | 174Elanco, the animal health division of Eli Lilly and Company (NYSE: LLY), today announced that Lilly has made an irrevocable, unconditional offer to acquire the animal health business of Janssen Pharmaceutica NV, a Johnson & Johnson Company (NYSE: JNJ). The two companies have notified the...
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Bulls Have Conviction Going into Weekend 03-11-11
Friday, March 11, 2011 - 7:23pm | 778Cusick's Corner Nice bounce with authority. The After Hours were solid, trading with strong volume and wider scope. The bulls have the conviction coming into the weekend. All eyes will be on Asia, monitoring Japan, and any further activity in the Middle East. Have a good weekend. Stocks are...
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Retail Sales Strong 03-11-11
Friday, March 11, 2011 - 5:22pm | 963Cusick's Corner The market was relatively strong into the Midday in the face of the tragedy in Japan, but support is now resistance. 1300 is that S&P level where support was holding up until the last two sessions. The market will need to do some work into the After Hours in order for the...
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ULURU Inc. Receives Letter of Non-Compliance From NYSE Amex (ULU)
Friday, March 11, 2011 - 5:09pm | 135ULURU (Amex: ULU) today reported that it has received notice from NYSE Amex advising ULURU that it is not in compliance with a certain condition of the Exchange's continued listing standards under Section 1003 of the Exchange's Company Guide. In a letter to ULURU, the Exchange stated that it is...
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Zings Of The day (JNJ, GS)
Friday, March 11, 2011 - 4:58pm | 173Johnson & Johnson (NYSE: JNJ) signed a consent decree with the FDA to put three manufacturing plants under years of tight regulatory scrutiny. Something tells me internal sales of Tylenol are about to skyrocket. Blockbuster agreed to sell itself to a group of hedge funds, avoiding liquidation...
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Options Brief: Shire plc (SHPGY)
Friday, March 11, 2011 - 4:53pm | 75Shares of Shire plc (NASDAQ: SHPGY) are higher on the session by 1.63%, trading at $87.44. Overall put volume is now running at 33.76x the daily average, with 82% of all puts traded being purchases on the offer. 2,363 contracts have traded on the session so far. Shire plc is a specialty...
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Calls Purchased on Biodel Inc. (BIOD)
Friday, March 11, 2011 - 2:23pm | 129Shares of Biodel Inc. (NASDAQ: BIOD) are higher on the session by 1.88%, currently trading at $2.17. The stock has been moving largely higher over the past three months and is currently trading above the 50-day moving average. Options traders are buying calls on the name today. A short while ago...
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Unusual Volume: 4M Block Print At $7.50 On Amarin (AMRN)
Friday, March 11, 2011 - 12:43pm | 21Unusual Volume Alert: 4M Block Print At $7.50 On Amarin (NASDAQ: AMRN)
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Puts Purchased on Questcor Pharmaceuticals (QCOR)
Friday, March 11, 2011 - 11:53am | 151Shares of Questcor Pharmaceuticals (NASDAQ: QCOR) are lower on the session by 1.60%, currently trading at $13.51. The stock has been moving largely lower over the past three months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying puts on...
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Stocks on the Move:(CADX) $8.98 Coming out of Flag Formation above $9.00
Friday, March 11, 2011 - 11:05am | 19Stocks on the Move:(CADX) $8.98 Coming out of Flag Formation.
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Tolerx and GlaxoSmithKline Announce Phase 3 Defend-1 Study of Otelixizumab in Type 1 Diabetes Did Not Meet Its Primary Endpoint
Friday, March 11, 2011 - 10:03am | 135Tolerx, Inc. and GlaxoSmithKline (NYSE: GSK) today announced that the Phase 3 DEFEND-1 study of otelixizumab, an investigational humanized anti-CD3 monoclonal antibody, did not meet the primary efficacy endpoint of change in C-peptide at month 12 in patients with new-onset autoimmune type 1...