Pre-market: Back Yard Burgers goes private
Shares of Back Yard Burgers, Inc. (Nasdaq: BYBI), which operates and franchises quick-service restaurants, are in negative territory following news this morning that the Memphis, Tenn.-based company has agreed to be acquired by private equity group BBAC, LLC for about $38 million. Shares are down $0.04, or 1%, to $5.05.
Shares of Medivation, Inc. (Nasdaq: MDVN) are down despite news this morning that the San Francisco-based company’s Alzheimer’s drug Dimebon has shown encouraging results during a Phase II clinical study. The stock has lost $0.10, or 1%, to $16.18.
Shares of Geron Corp. (Nasdaq: GERN) are trading higher following news this morning that the Menlo Park, Calif.-based pharmaceutical company has presented results showing that its treatment for spinal cord injuries evades attack by the immune system, hence making it a more viable medical option. Shares are up $0.18, or 2%, to $8.67.
Canadian biopharmaceutical company Neurochem Inc. (Nasdaq: NRMX) will present data from a Phase III clinical trial of a drug candidate for the treatment of Alzheimer’s today. The company said this morning that preliminary data show numerical differences in favor of the drug tramiprosate. The stock is slumping, down $0.67, or 10%, to $5.75.
New Haven, Conn.-based Vion Pharmaceuticals, Inc. (Nasdaq: VION) announced this morning that it participated in the 12th Congress of the European Hematology Association in Vienna, Austria and presented data from a Phase II clinical trial of its leukemia treatment. The company is conducting more testing in Europe and North America and expects results to be in by July. Shares are down $0.04, or 3%, to $1.17.
Shares of Exton, Pa.-based Adolor Corp. (Nasdaq: ADLR) have lost ground on news this morning that the biopharmaceutical company has received a request from the U.S. Food and Drug Administration for additional data for its bowel dysfunction drug Entereg. Shares are down $0.06, or 2%, to $3.75.
