Newsmakers: Misonix, Cardinal Health, Orexigen Therapeutics, Aastrom Biosciences, Achillion Pharmaceuticals Print
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Thursday, 11 September 2014 16:29

U.S. stocks traded lower at midday on Thursday as energy shares continued to fall and shares of Apple dipped.

The S&P 500 energy index was down 0.10 percent, on track for its fourth straight decline. Shares of Nabors Industries dipped 2.4 percent and shares of Chesapeake Energy fell 2.1 percent.

 

Misonix, Inc.(NASDAQ:MSON) jumped 19% to $9 after hitting a new 52-week high of $10.80-  on a 35x in volume following Wednesday’s earnings report. However,  investors need to be careful before deploying their hard-earned capital, though. Turnover is only ~120K shares. The average daily turnover is a mere 6.7K shares.

Cardinal Health Inc. (NYSE:CAH) appoints Michael C. Kaufman CFO effective November 11, 2014 replacing the retiring Jeffrey W. Henderson. Mr. Kaufman has served as CEO of Cardinal's Pharmaceutical business since August 2009.

The FDA approves Orexigen Therapeutics, Inc. (NASDAQ:OREX) Contrave (naltrexone hydrochloride and bupropion hydrochloride extended-release tablets) as a treatment option for chronic weight management in addition to a reduced-calorie diet and physical activity. Contrave is indicated for use in adults with a body mass index (BMI) of 30 or greater (obese) or adults with a BMI of 27 or greater who have at least one weight-related co-morbidity (e.g. hypertension, type 2 diabetes, high cholesterol). However shares of the company slumped11%.

Aastrom Biosciences Inc. (NASDAQ:ASTM) slid 3% after the company priced its public offering of 13,725,490 common shares at $2.55 per share. Underwriters over-allotment is 2,058,823 shares. Closing date is September 16, 2014.

Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN)’s shares fell 1.67% to $12.39. The company on Aug. 19 announced that the U.S. Patent & Trademark Office has granted Achillion U.S. Patent No. 8,809,313, covering composition-of-matter and method of use claims for ACH-3102 and structurally related NS5A inhibitor compounds. ACH-3102 is Achillion’s second generation Phase 2 NS5A inhibitor being investigated for the treatment of chronic hepatitis C virus (HCV) infection.

 




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