Pre-market: FDA denies Labopharm
Shares of Canada’s Labopharm Inc. (Nasdaq: DDSS) are flat despite news after Thursday’s close that the U.S. Food and Drug Administration has sent it a letter stating that the painkilling drug tramadol is not efficient. Adding to the pharmaceutical company’s woes is news that National Bank Financial has downgraded the company’s stock to “sector perform” from “sector outperform.” Shares are at $6.31.
A wholly-owned subsidiary of Mineral Wells, Texas-based PHAZAR CORP. (Nasdaq: ANTP) has received a $0.97 million purchase order from a client in Spain for the production of four antenna systems. The antenna systems will be manufactured in Mineral Wells and shipped to Barcelona, Spain in October 2007. Still, shares are down $0.04, or 1%, to $5.21.
Shares of DexCom, Inc. (Nasdaq: DXCM) are trading lower despite news after Thursday’s close that the U.S. Food and Drug Administration has approved the San Diego-based medical device maker’s Continuous Glucose Monitoring System. Shares are down $0.14, or 2%, $6.56.
Salt Lake City, Utah-based Sento Corp. (Nasdaq: SNTO) has received a letter from Nasdaq this morning that the provider of outsourced customer contact services has complied with the exchange’s continued listing standards. Shares are up $0.01, or 1%, to $2.11.
Shares of EntreMed, Inc. (Nasdaq: ENMD) are higher following news this morning that one of the Rockville, Md.-based pharmaceutical company’s drug has been shown to induce tumor regression in pre-clinical trials. The stock has added $0.02, or 1%, to $1.79.
Waltham, Mass.-based biotechnology company OXiGENE, Inc. (Nasdaq: OXGN) has agreed with the U.S. Food and Drug Administration on the design of a clinical trial for the thyroid cancer drug Zybrestat, according to news after Thursday’s close. Shares are up $0.11, or 2%, to $4.57.
