Pre-market: DUSA Pharmaceuticals gets FDA nod
DUSA Pharmaceuticals, Inc. (Nasdaq: DUSA) has been granted an orphan drug designation by the U.S. Food and Drug Administration for its drug Levulan, which treats esophageal dysplasia, the Wilmington, Mass.-based dermatology company said this morning. Esophageal dysplasia is a leading cause of esophageal cancer. Once a company receives approval from the FDA to market its orphan-designated product, it is entitled to seven years of marketing exclusivity. Nevertheless, shares are up $0.15, or 5%, to $2.77.
Shares of New York-based 24/7 Real Media, Inc. (Nasdaq: TFSM) are trading higher on news this morning that the digital marketing company is being acquired by WPP Group for $649 million, or $11.75 per share. The deal is expected to close in the third quarter of 2007. Shares are up $0.25, or 2%, to $11.26.
Scienticts Geron Corp. (Nasdaq: GERN) have differentiated human embryonic stem cells into islet-like clusters that secrete insulin in response to elevated glucose levels. According to the Menlo Park, Calif.-based pharmaceutical company this morning, the studies demonstrate the feasibility of producing therapeutic cell types for the treatment of diabetes. Shares have added $0.06, or 1%, to $8.24.
Shares of Cell Therapeutics, Inc. (Nasdaq: CTIC) are lower after news this morning that the Seattle-based company has received feedback from the U.S. Food and Drug Administration. The company said it is in agreement with requests from the agency for the design of its trial for the drug pixantrone, which treats non- Hodgkin's lymphoma. The stock is down $0.35, or 7%, to $5.00.
Top Tankers, Inc. (Nasdaq: TOPT), a Greek provider of international seaborne transportation services, reported this morning that its net income for the three months ended March 31 declined to $0.95 million, or $0.03 per share, compared with a net income of $30.16 million, or $1.05 per share, for the first quarter of 2006. Analysts were expecting the company to post a net loss of $0.03 per share. The stock has added $0.11, or 2%, to $4.85.
Shares of medical robotics maker Hansen Medical, Inc. (Nasdaq: HNSN) are appreciating on news this morning that the Mountain View, Calif.-based company has obtained approval from the European Union for two of its technologies. Shares have gained $0.26, or 1%, to $20.25.
