Merck & Co., Inc. (NYSE:MRK) and Endocyte, Inc. (NASDAQ: ECYT), announced the withdrawal of conditional marketing authorization applications (CMA) from the European Medicines Agency (EMA) for vintafolide and companion imaging components, imaging agent etarfolatide and intravenous (IV) folic acid, for the treatment of adult patients with folate receptor-positive, platinum-resistant ovarian cancer, in combination with pegylated liposomal doxorubicin (PLD). Merck & Co., Inc. (NYSE:MRK) net profit margin is 14.00% and weekly performance is 1.92%. On last trading day company shares ended up $56.35. Analysts mean target price for the company is $59.22. Merck & Co., Inc. (NYSE:MRK) distance from 50-day simple moving average (SMA50) is -0.05%.
At Cannes, Manu Kumaran, CEO of production facility Medient Studios Inc. (OTCMKTS:MDNT) discussed his plans for a new studio in Georgia – the company’s largest in the US – which is set to be constructed by the end of this year and will be in direct competition with Pinewood’s new studio complex in Atlanta. Medient Studios Inc. (OTCMKTS:MDNT) shares fell -14.29% in last trading session and ended the day on $0.0030.
Isis Pharmaceuticals, Inc. (NASDAQ:ISIS) announced that it has earned a $3.0 million milestone payment from GlaxoSmithKline (GSK) related to the initiation of a natural history study, which will support the advancement of one of the alliance programs. ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS) shares moved up 0.20% in last trading session and was closed at $24.75, while trading in range of $24.26 – $25.15. ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS) year to date (YTD) performance is -37.88%.
Galena Biopharma Inc. (NASDAQ:GALE) first commercial product, Abstral(R) (fentanyl) Sublingual Tablets, is approved for the treatment of breakthrough cancer pain. Net revenue from the sale of Abstral for the three months ended March 31, 2014 was $2.2 million, compared to no net revenue for the three months ended March 31, 2013, and up from $1.3 million in the fourth quarter of 2013. Cost of revenue and gross margins were $0.3 million and $1.9 million, respectively, for the three months ended March 31, 2014. Galena Biopharma Inc. (NASDAQ:GALE) ended the last trading day at $2.17. Company weekly volatility is calculated as 5.99% and price to cash ratio as 4.89.Galena Biopharma Inc. (NASDAQ:GALE) showed a negative weekly performance of -8.82%.
Astellas Pharma Inc. (OTCMKTS:ALPMY) said it will book a special loss of Y11 billion ($108 million) in the current fiscal year ending March 2014 as it takes measures to reform its research framework. On last trading day company shares ended up $11.89.
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