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Vericel ($VCEL) stock shot up in pre-market trading hours and gained over 53%. The stock had closed the previous trading session with 1.89% decline at $2.60. The massive jump in the scrip price is in response to the company’s announcement regarding the receipt of the FDA approval for Maci (autologous cultured chondrocytes on porcine collagen membrane) for the repair of symptomatic full-thickness cartilage defects of the knee in adult patients.
Maci is the first product of its kind as it uses the process of tissue engineering to grow cartilage cells on a scaffold for gaining FDA approval. Maci is made of a patient’s own cells.

Bristol-Myers Squibb ($BMY) announced the restructuring of its research and development setup in the United States. The company is looking to construct a new R&D building at its Lawrenceville, NJ campus. The new facility will act as the base for lab-based Discovery and Translational Medicine activities.
Bristol-Myers Squibb also plans to invest in construction at its New Brunswick, NJ facility for supporting biologics development and the continued augmentation of its biologics campus in Devens, MA. However, the company plans to close down its Hopewell, NJ facility by 2020. Similarly, it will also not renew the lease for Lake Union Steam Plant site in Seattle, WA in 2019.

 

• Johnson & Johnson ($JNJ) has reportedly pulled plug on its talks with Actelion Pharmaceuticals for a potential acquisition. The company had extended a $20 billion offer for the Swiss company.

• Echo Therapeutics ($ECTE) received a respite as a New York district court denied the plaintiffs' application for a preliminary injunction against the company. The company intends to seek dismissal of all the claims against it.

• Eli Lilly ($LLY) reported receiving the FDA approval for Synjardy XR (empagliflozin and metformin hydrochloride extended-release) for adults with type 2 diabetes.

• Revance Therapeutics ($RVNC) reported encouraging developments from Preliminary results for a Phase 2 clinical trial assessing Revance Therapeutics' (NASDAQ:RVNC) lead product candidate DaxibotulinumtoxinA for Injection (RT002) for treating adults with moderate-to-severe isolated cervical dystonia. It showed durable treatment effect.

 

• Alliance Group ($AIQ) received a non-binding offer for $9.60 per share in cash from its controlling shareholder Tahoe Investment Group, for all the stock it currently does not own. Tahoe currently holds 52% stake in Alliance.

• Kite Pharma ($KITE) announced strategic partnership with Vitruvian Networks for designing and developing a platform for patients, physicians and treatment centers to support the commercial use of FDA-approved T-cell therapies.

 

• Inovalon ($INOV) slashed its guidance for FY2016. The company now expects its non-GAAP EPS to be in the range of $0.32 and $0.33. It expects to generate $426 million to $428 million in revenue during the year.

• Lifevantage ($LFVN) reported its FY 2016 revenue at $206.5 million, up 8.5% while its earnings stood at $0.41 per share, down 16.1%.

• Alexion Pharmaceuticals ($ALXN) received a rating downgrade from Morgan Stanley. The stock is now rated as Hold.

• Endologix Inc. ($ELGX) received buy rating from Oppenheimer. The consensus price target for the company stock is at $9.50.

Gainers (% price change) Last Trade Change Mkt Cap
China Cord Blood Corp
CO (NYSE)
5.10 +0.66 (14.86%) 357.80M
Sangamo Biosciences, Inc.
SGMO (NASDAQ)
3.25 +0.20 (6.56%) 218.77M
GenMark Diagnostics, Inc
GNMK (NASDAQ)
11.74 +0.71 (6.44%) 548.27M
Healthways, Inc.
HWAY (NASDAQ)
23.40 +1.40 (6.36%) 887.05M
BioTime, Inc.
BTX (NYSE)
3.56 +0.17 (5.01%) 375.84M
Losers (% price change)
Rockwell Medical Inc
RMTI (NASDAQ)
7.04 -0.63 (-8.21%) 345.20M
Dynavax Tech. Corp.
DVAX (NASDAQ)
4.10 -0.35 (-7.87%) 151.17M
Endologix, Inc.
ELGX (NASDAQ)
6.49 -0.40 (-5.81%) 538.23M
Curis, Inc.
CRIS (NASDAQ)
2.74 -0.13 (-4.53%) 379.81M
Allscripts Healthcare
MDRX (NASDAQ)
10.50 -0.49 (-4.46%) 1.92B
Most Actives (dollar volume)
Gilead Sciences, Inc.
GILD (NASDAQ)
74.84 +1.84 (2.52%) 99.64B
Pfizer Inc.
PFE (NYSE)
32.83 +0.43 (1.33%) 203.62B
Johnson & Johnson
JNJ (NYSE)
115.89 +0.53 (0.46%) 323.99B
Alexion Pharmaceuticals
ALXN (NASDAQ)
110.01 -5.07 (-4.41%) 21.50B
Amgen, Inc.
AMGN (NASDAQ)
148.37 +2.61 (1.79%) 112.15B