Pre-market: Vasogen gets FDA thumbs up
The U.S. Food and Drug Administration has recommended that Vasogen Inc. (Nasdaq: VSGN) conduct a confirmatory study to support a pre-market approval filing for the drug Celacade, which treats chronic heart failure, the Canadian biotechnology company announced this morning. Shares are up $0.16, or 7%, to $2.35.
Jones Soda Co. (Nasdaq: JSDA) has entered into an agreement with two Japanese companies and one American company for the exclusive rights to use PHARMA GABA, a naturally produced form of an amino acid, the Seattle-based soda maker said after Tuesday’s close. The stock had added $1.02, or 7%, to $14.85.
Shares of Ivanhoe Energy Inc. (Nasdaq: IVAN) are higher following news this morning that the Canadian heavy oil company has successfully completed its key Athabasca bitumen test run using its proprietary heavy oil upgrading technology. Shares are up $0.22, or 12%, to $2.00.
Fairview, Pa.-based Spectrum Control Inc. (Nasdaq: SPEC), which makes electronic control products and systems, reported after Tuesday’s close that its second quarter net income was $2.8 million, or $0.20 per share, compared with $1.7 million, or $0.13 per share, in the year-ago quarter. The stock is up $1.07, or 8%, to $1.07.
Shares of specialty retailer West Marine Inc. (Nasdaq: WMAR) are recovering after falling on Tuesday, when the Watsonville, Calif.-based company announced that it is lowering its full year 2007 earnings guidance due to weak same-store sales. Shares are up $2.30, or 17%, to $15.64.
