Unusual 11 Mid-Day Movers 06/21: (ORMP) (SPRD) (MBIS) Higher; (IDIX) (BPAX) (EBIX) Lower
Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) 46.7% HIGHER; has withdrawn the previously announced proposed underwritten public offering of its common stock due to market conditions.
Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX) 31.4% LOWER; announced the Company has received verbal communication from the U.S. Food and Drug Administration (FDA) requesting additional preclinical safety information for IDX20963, Idenix's lead uridine nucleotide prodrug candidate. Initiation of clinical trials for IDX20963 is on hold and the Company must provide a satisfactory response to the FDA before clinical trials can begin in the United States. As a result, the Company anticipates a delay in the initiation of the clinical program for IDX20963 while it responds to the FDA's comments. Idenix recently submitted an Investigational New Drug (IND) application for IDX20963 to the FDA, including preclinical data demonstrating potent, pan-genotypic activity.
BioSante Pharmaceuticals, Inc. (Nasdaq: BPAX) 19.4% LOWER; announced that on June 20, 2013, it received a letter from NASDAQ informing BioSante that, since the merger with ANIP Acquisition Company d/b/a ANI Pharmaceuticals, Inc. (ANI) constituted a business combination resulting in a change of control under Listing Rule 5110(a), BioSante was required to meet the initial listing criteria for the NASDAQ Global Market. The letter continued that, since BioSante did not meet the minimum $4 bid price requirement for initial listings under Listing Rule 5405(a)(1), NASDAQ had determined to delist BioSanteâs securities, and that BioSante could appeal this determination.
Spreadtrum Communications, Inc. (Nasdaq: SPRD) 17.9% HIGHER; announced that its Board of Directors has received a preliminary non-binding proposal letter, dated June 20, 2013, from Tsinghua Unigroup Ltd., an operating subsidiary of Tsinghua Holdings Co. Ltd., a solely state-owned limited liability corporation funded by Tsinghua University in China, pursuant to which Unigroup proposes to acquire the Company (the "Transaction") for US$28.50 in cash per American Depositary Share (each American Depositary Share represents three ordinary shares of the Company). A copy of the proposal letter is attached hereto as Appendix 1.
Mediabistro (Nasdaq: MBIS) 17.3% HIGHER; continuing volatile movement after ripping over 100 percent early in the week. No news or speculation has been attributed to the name.
Ebix Inc. (Nasdaq: EBIX) 17.0% LOWER; lower amid a negative blog post Friday. The blog post said the stock is not worth more than $8 and could be worthless and on the way to zero.
PharMerica Corporation (NYSE: PMC) 16.9% LOWER; has been informed by Kindred Healthcare (NYSE: KND) that it is not renewing the Company's contract for skilled nursing pharmacy services when the current contract expires on December 31, 2013.
OSI Systems, Inc. (Nasdaq: OSIS) 15.5% HIGHER; announced that its Security division, Rapiscan Systems, and the Department of Homeland Security (DHS) have entered into an Administrative Agreement that settles issues relating to the Rapiscan Secure 1000SP Advanced Imaging Technology system and associated Automated Target Recognition software. With the signing of the Administrative Agreement, Rapiscan can continue its current and future business with U.S. federal government agencies.
Companhia Paranaense de Energia â Copel 14.0% LOWER; in compliance with CVM Rule 358/2002, hereby announces to the market that the National Electric Power Agency â Aneel deliberated today Copel DistribuiÃ§Ã£oâs Annual Tariff Increase. The average tariff increase is 14.61%. Of this total, 11.40% refer to annual tariff increase, 1.68% to pertinent financial components and 1.53% to the financial components of last year.
Cytokinetics, Inc. (Nasdaq: CYTK) 12.4% HIGHER; after traders took a little profit on Thursday following a ramp higher earlier this week, Cytokinetics is back at it again today. Volume of 3.9 million shares is more than double its typical trading volume.
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