Posts tagged ‘BAC’
INO CLOSES 30 Million Funding Stocks flying
INO closes $30 mln registered direct offering
July 31 (Reuters) – Inovio Biomedical Corp: * Closes $30 million registered direct offering
Stocks in Play
Inovio Biomed (Amex:INO) announced this morning pre market of a $30m registered direct offering (INO) 3.18 : Co announces that it has institutional investors to purchase $30 mln of securities in a registered direct offering. INO expects to receive net proceeds of approximately $28.5 mln.
Shares were on fire yesterday up 300%. What about today? Pre market is trading at 2.80
News breaking
Markets remain down
The averages opened lower and the markets looked like they would be in for a bout of profit-taking. Almost making it into positive territory ths morning the market is certainly proving to be resilient.
The DOE released its weekly inventory numbers showing crude oil stockpiles rose 5.1M barrels versus an expected decline of 1.0M barrels. Gasoline inventories fell 2.3M barrels versus analyst’s prediction of a break even. The Dow is down 22 to 9,073, the NASDAQ is down 10 to 1,965, and the S&P is down 4.50 to 975.05
SLAB buy rec just out
TWX New breaking
CACI NEWS BREAKING 45.60 per share
Stocks to trade
Human Genome Sciences, Inc. (Nasdaq: HGSI) The following is a list of products pending. Keep an eye on this volitile stock and profit.
BENLYSTA™ (belimumab, formerly LymphoStat-B®)
BENLYSTA is an investigational human monoclonal antibody drug that specifically recognizes and inhibits the biological activity of B-lymphocyte stimulator, or BLyS®, which was discovered by HGS in 1997. In lupus, rheumatoid arthritis and certain other autoimmune diseases, elevated levels of BLyS are believed to contribute to the production of autoantibodies – antibodies that attack and destroy the body’s own healthy tissues. BENLYSTA has successfully met its primary endpoint in BLISS-52, the first of two Phase 3 trials in systemic lupus. Results of BLISS-76, the second BENLYSTA Phase 3 trial, are expected in November 2009. The design of the two trials is similar, except for the duration of therapy, which will be 52 weeks in BLISS-52 and 76 weeks in BLISS-76. Assuming the second Phase 3 trial is also successful, HGS believes that BENLYSTA has the potential to become the first new approved drug for people living with lupus in more than 50 years. BENLYSTA is being developed by HGS and GlaxoSmithKline (GSK) under a co-development and commercialization agreement entered into in August 2006.
ZALBIN™ (albinterferon alfa-2b, formerly Albuferon®)
ZALBIN is a long-acting investigational treatment for chronic hepatitis C, and is being developed by HGS and Novartis under an exclusive worldwide co-development and commercialization agreement entered into in June 2006. ZALBIN has met its primary endpoint of non-inferiority to Pegasys (peginterferon alfa-2a) in two pivotal Phase 3 clinical trials in chronic hepatitis C. The results of both Phase 3 trials demonstrate that, with half the injections, 900-mcg Albuferon achieved efficacy comparable to peginterferon alfa-2a, with a positive safety profile. The filing of global marketing applications for Albuferon is planned for fall 2009. Assuming licensure by the FDA and other regulatory agencies, HGS believes that Albuferon could become a market-leading treatment for chronic hepatitis C..
Raxibacumab (ABthrax™)
Raxibacumab is a human monoclonal antibody drug that HGS discovered and developed for the treatment of inhalation anthrax. Raxibacumab represents a new way to address the anthrax threat. While antibiotics can kill the anthrax bacteria, they are not effective against the deadly toxins that the bacteria produce. Raxibacumab is a first-in-class treatment that targets anthrax toxins after they are released by the bacteria into the blood and tissues. In an inhalation anthrax attack, people may not know they are infected with anthrax until the toxins already are circulating in their blood, and it may be too late for antibiotics alone to be effective. In April 2009, HGS completed the delivery of 20,000 doses of raxibacumab to the U.S. Strategic National Stockpile. In July 2009, HGS received a second order for 45.000 doses of raxibacumab from the U.S. Government, to be delivered over a period of three years, beginning near the end of 2009.
TRAIL Receptor Antibodies
HGS has pioneered the development of highly targeted antibody therapies for cancer based on the TRAIL receptor apoptotic pathway. The Company’s TRAIL receptor antibodies specifically bind to TRAIL receptors 1 or 2, and directly induce the death of cancer cells through apoptosis, or controlled cell death.
HGS-ETR1 (mapatumumab), an antibody to TRAIL receptor 1, is the most advanced of any product in development that targets the TRAIL apoptotic pathway. HGS is currently conducting two randomized Phase 2 clinical trials of HGS-ETR1 – a trial of HGS-ETR1 in combination with bortezomib (Velcade) in patients with advanced multiple myeloma, and a trial of HGS-ETR1 in combination with paclitaxel and carboplatin as first-line therapy in patients with non-small cell lung cancer.
The results of an open-label, dose-escalation Phase 1b trial in patients with advanced solid tumors have demonstrated that HGS-ETR2 (lexatumumab), an antibody to TRAIL receptor 2, was generally safe and well tolerated in combination with four different standard chemotherapy regimens.
HGS believes that the TRAIL pathway offers therapeutic opportunities across a broad range of cancers. In December 2007, the Company acquired exclusive rights from Aegera Therapeutics to develop and commercialize a novel class of small molecules that also enhance apoptosis in cancer cells. These small molecules, known as IAP inhibitors, target a family of proteins that help cancer cells resist apoptosis and start growing again. HGS1029, the lead IAP inhibitor, is expected to enter clinical development early in 2008.
(SOURCE HGSI)
PRE MARKET Stocks on the Move July 23
July 23, 2009 Futures higher after initial jobless claims report
BEST BETS TODAY Robert Half (RHI), Ann Taylor (ANN) and TrueBlue (TBI) were upgrades: Citigroup upgraded Robert Half to Hold from Sell following the company’s Q2 results, believing the worst may be behind the company.
Citi raised its target on shares to $24 from $18.
Goldman upgraded Ann Taylor to Buy from Neutral and raised its target to $13 from $6.50 citing improved merchandising and inventories.
Baird upgraded TrueBlue to Outperform from Underperform and raised its target to $12 from $9 citing the better than expected Q2 report and guidance, strong balance sheet, and valuation.
F5 Networks (FFIV) was upgraded to Neutral from Underperform at BofA/Merrill.
Sanmina (SANM) was upgraded to Neutral from Underperform at Credit Suisse.
F5 Networks price target raised to $28 from $22 at Broadpoint AmTech
After F5 Networks reported better than expected results, Broadpoint AmTech maintains a Neutral rating on the stock, but would become more constructive if the company’s product revenue significantly increases or the stock falls below $30.
Stocks slightly higher in premarket trading as Bulish Investors will attempt to get back in control today after the market broke its consecutive winning streak yesterday.
Besides the corporate leaders that will be reporting earnings, economic data due out this morning could change the direction of the stock prices.
Weekly initial jobless claims reports was 554,000 initial claims versus the expected 557,000, and the continuing claims were 6.22M versus the expected 6.39M. Also housing data of existing home sales are reported at 10 am ET, and natural gas inventories at 10:30 am ET.
Immucor: Earnings release
On better than expected news the stock could trade to the upper limit of the bullish price channel at $16. On a bullish breakout above the price channel the following resistance levels would become upside objectives: $16.69, $16.99, $17.25, $17.52, $17.85
On worse than expected news shares could trade to the lower limit of the price channel at $14.47. On a bearish breakdown below the price channel the following support levels would become downside objectives: $14.37, $14.15, $13.75. Traders are positioned for positive news. Reactions on a surprise, especially a negative one given the short-skew, have a high probability of being extreme in duration and price. Very high gap risk.
Amazon (Nasdaq:AMZN) could trade to the upper limit of the bullish price channel of $89.43. A breakout above the price channel the following resistance levels would $90.00, $93.38, $95.75,
Short side case. Shares have completed at “W” pattern ahead of earnings, trading at major multiyear resistance. On worse than expected news shares could trade to the lower limit of at $87.94 $84.75, $83.27, $81.97 Very high gap risk.
PIPE REPORT July 21, 2009
PIPE Volume Rose in 2nd Quarter, Compared With First
Posted July 21, 2009 12:00PM PST
The second quarter saw a promising increase in PIPE activity, as U.S.-listed companies raised $12.9 billion, or 63% more capital than they did in the first quarter, according to PrivateRaise, the data service of DealFlow Media. The number of deals rose 32% over the first quarter.
Major players in the PIPE market in the first half of the year included Iroquois Capital and Downsview Capital, the only fund managers to invest in more than 10 offerings; and Rodman & Renshaw, which placed 27 PIPEs, three times the number of placements by Lazard, the second most active placement agent. Investors who brought the most cash to the PIPE market were Berkshire Hathaway, which invested $3 billion in a private placement; Aabar Investments PJSC, with $2.6 billion; and Kuwait Investment Authority, with $1 billion. The companies that raised the most capital included four Dow Chemical, with $4 billion; BlackRock, Inc., with $2.8 billion; Daimler AG, with $2.5 billion; and ArcelorMittal, with $1.7 billion.
Data from the first half shows that PIPE financing activity has not returned to levels prevailing before the credit crunch of late 2008 and fickle securities markets depressed most forms of financing. The first half of 2009 saw a 44% drop in deal volume, compared with the year earlier period, and a 68% decline in total investment.
The third and fourth quarters could bring a further rebound towards last year’s numbers. In addition to increased deal flow, second quarter numbers reflect a growing trend in registered shelf offerings or “registered directs.” Companies raised $967.7 million in 57 registered direct offerings last quarter, compared to $417.9 million in 25 first quarter deals. While registered directs accounted for only about 7% of capital raised in the second quarter, the number of shelf statements filed in anticipation of future raises more than doubled from the same quarter last year. The 250 shelf statements filed in the second quarter of this year could be used to raise as much as $39 billion. As much as $72 billion could be raised from shelf statements filed during the entire first half of the year.
Even at the current level of activity they represent a fraction of the total PIPE market, and are not a viable option for the majority of emerging growth companies that remain ineligible for S-3 registration and must rely on the traditional PIPE market for equity capital.
More Action QLGC
QLogic (QLGC) to report Q1 earnings after the market close on Tuesday, July 21, with a conference call scheduled for 5:00 pm ET
NRG Energy on the move (NRG) $24.30 last
Misonix (MSON) awarded for forensic equipment in ChinaMisonix announced receipt of its first award for forensic equipment in China from the company’s distributor CSI Technology/CStrace International.
Equipment will be used by Chinese Law Enforcement in a major city in China. This award came from a competitive bid which focused on quality and performance.
HGSI Up $7.00 at ther open Trade of the day
Human Genome news on Phase III
Human Genome Sciences (HGSI) anounced that BENLYSTA met the primary endpoint in BLISS-52, the first of two Phase 3 trials. In the placebo-controlled BLISS-52 study, the results showed that BENLYSTA response rate at Week 52, compared with standard of care alone. Study results also showed that belimumab was generally well tolerated, with adverse event rates comparable between belimumab and placebo treatment groups.
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