Healthcare Review: TrovaGene Inc, Vanda Pharmaceuticals, Avanir Pharmaceuticals, Neurometrix Inc, Aegerion Pharmaceuticals Print E-mail
By Staff and Wire Reports   
Wednesday, 05 June 2013 13:19
U.S. stocks fell on Wednesday amid concern the Federal Reserve may ease up on its economic stimulus efforts, as market participants looked ahead to the release of the Fed beige book later in the day. Major U.S. stock indexes fluctuated between modest gains and losses shortly after the open, signaling another volatile session. Losses were across the board, though recent decliners like energy and technology stocks fell less than other sectors. Following are notable movers at mid day on Wednesday:-

TrovaGene Inc. (NASDAQ:TROV) stock jumped 3.47% to $656. Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of TrovaGene, Inc. ("TrovaGene" or the "Company") (NasdaqCM: TROV) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval for an amendment to the 2004 Stock Option Plan.

Additionally, the company announced that Chief Executive Officer Antonius Schuh, Ph.D. is scheduled to present a corporate overview at the Jefferies 2013 Global Healthcare Conference in New York on Thursday, June 6, 2013 at 3:00 p.m. Mr. Schuh and Chief Financial Officer Stephen Zaniboni will be available for one-on-one meetings during the conference.

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) shares climbed 0.69% to $10.25. The company on May 31 announced the submission of a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for tasimelteon, a circadian regulator. Vanda is seeking FDA approval of tasimelteon for the treatment of Non-24-Hour Disorder (Non-24) in the totally blind. Tasimelteon was developed to address a significant unmet medical need, the treatment of Non-24, for which there are currently no FDA approved products.

Avanir Pharmaceuticals, Inc. (NASDAQ:AVNR) shares jumped 8.61% to $3.66. The company on June 5 announced that the U.S. Food and Drug Administration (FDA) has agreed to an expedited development pathway for their next-generation compound, AVP-786, requiring only a limited pre-clinical package as part of the Investigational New Drug (IND) application. Upon completion of these preclinical studies the company intends to proceed directly into human clinical trials.

Neurometrix Inc. (NASDAQ:NURO) stock plunged 16.54% to $2.17. The company on June 4 announced that it entered into a definitive securities purchase agreement with a single institutional investor providing for the issuance of $5,000,000 of shares of Series A-1 and Series A-2 convertible preferred stock (convertible into a combined total of 2,386,635 shares of common stock) and five year warrants to purchase up to 2,386,635 shares of common stock at an exercise price of $2.00 per share. Subject to certain ownership limitations, the Series A-1 and Series A-2 convertible preferred stock is convertible at any time into shares of common stock at an initial conversion price of $2.095 per share (which represents a price above the closing price of the common stock on the previous trading day).

Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) shares gained 2.35% to $72.74. AEGR‘s stock had its “buy” rating reiterated by equities research analysts at Lazard Capital Markets in a research note issued to investors on May 29. They currently have a $77.00 target price on the stock.

Additionally, the company on May 31, announced that the European Committee for Medicinal Products for Human Use has adopted a positive opinion with a unanimous vote recommending a marketing authorization for LOJUXTA hard capsules.

"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

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