Pre-market: Philips buys Color Kinetics
Color Kinetics Inc. (Nasdaq: CLRK), which makes lighting systems, will be bought by Dutch electronics giant Philips for $793.5 million, the Boston-based company said this morning. That’s a price of $34 per share. The stock has added $3.71, or 12%, to $33.50.
Shares of Allos Therapeutics, Inc. (Nasdaq: ALTH) are higher despite news this morning that the Westminster, Col.-based company’s cancer drug failed to achieve the primary endpoint of a Phase III clinical trial. The stock is up $0.69, or 12%, to $6.30.
Scottsdale, Ariz.-based TASER International, Inc. (Nasdaq: TASR), which makes electronic control devices, said this morning that it has received an order from a foreign law enforcement agency. The financial parameters of the deal were not revealed. Shares are up $0.73, or 6%, to $12.85.
Shares of Zila, Inc. (Nasdaq: ZILA), which develops healthcare products, are rising following news after the close on Monday that the Phoenix-based company narrowed its loss for the quarter ended April 30 to $4.3 million, or $0.07 per share, compared with a loss of $8.1 million, or $0.18 per share, a year earlier. However, Wall Street was looking for a loss of $0.05 per share. The stock is down $0.02, or 1%, to $1.45.
Monogram Biosciences, Inc. (Nasdaq: MGRM) has decided to expand its coverage of HIV resistance testing to include treatment-naive patients, who have not previously received treatment, as well as patients failing therapy, the San Francisco-based pharmaceutical company announced after Monday’s close. Shares are flat at $1.85.
Shares of EPIX Pharmaceuticals, Inc. (Nasdaq: EPIX) are gaining despite news after Monday’s close that the U.S. Food and Drug Administration has denied approval of the drug Vasovist, which is a contrast agent that provides visual imaging of the vascular system, but indicated that future clinical trials may not be necessary to gain approval. Shares are up $0.43, or 7%, to $6.27.
