The Wet Seal profitable in Q1
Foothill Ranch, Calif.-based specialty retailer The Wet Seal, Inc. (Nasdaq: WTSLA) reported this morning that its net income for the first fiscal quarter of 2007 ended May 5 was $7.6 million, or $0.07 per share, compared with a net loss of $14.0 million, or $0.22 per share, in the analogous period of 2006. That beats analysts’ projected earnings of $0.06 per share. Nevertheless, the stock has lost $0.17, or 3%, to $5.58.
Shares of Cypress Bioscience, Inc. (Nasdaq: CYPB) have gained on news after Tuesday’s close that the San Diego-based company reported preliminary results from a Phase III trial that showed the drug milnacipran is an effective treatment of fibromyalgia syndrome. Fibromyalgia syndrome is a condition which causes stiffness, severe fatigue and insomnia. Shares are up $0.05, or 1%, to $8.45.
ArQule, Inc. (Nasdaq: ARQL) has filed a universal shelf registration statement with the Securities and Exchange Commission, the Woburn, Mass.-based biotechnology company said this morning. That will allow it to periodically sell up to $100 million of its securities in one or more offerings. Shares have added $0.26, or 3%, to $9.58.
Shares of Evanston, Ill.-based Northfield Laboratories Inc. (Nasdaq: NFLD) are up despite news this morning that a Phase III trial of a hemoglobin-based oxygen-carrying red blood cell substitute did not show statistically significant results. The stock has risen $0.13, or 3%, to $4.25.
Handheld Entertainment, Inc. (Nasdaq: ZVUE), a San Francisco-based maker of portable media players, announced this morning that it has begun offering its customers free, ad-supported, streaming video segments from the Canadian Broadcasting Corp. Still, shares are down $0.05, or 3%, to $1.93.
Shares of Vion Pharmaceuticals, Inc. (Nasdaq: VION) are gaining despite news this morning that the New Haven, Conn.-based company will suspend enrollment and further patient treatment in its Phase III clinical study of its leukemia drug Cloretazine. Shares have added $0.12, or 6%, to $2.02.
