On June 17, 2014, Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) completed the sale of $200 million aggregate principal amount of the Notes in the Rule 144A Offering. In connection with the sale of the Notes, the Company entered into an indenture by and between the Company and Wells Fargo Bank, National Association, as trustee (the “Indenture”) and issued the Notes pursuant thereto. The Notes bear interest at a rate of 3.625% per year, payable semi-annually in arrears on June 15 and December 15 of each year, commencing December 15, 2014. The Notes will mature on June 15, 2019, unless earlier repurchased or converted. Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) stock opened today at $6.41 and is currently trading at $6.33. The stock showed a negative weekly performance of -6.45%.
Endocyte Inc. (NASDAQ:ECYT) announced that it has regained the worldwide rights to vintafolide in all indications from Merck (NYSE: MRK). Following a comprehensive portfolio assessment, Merck, through a subsidiary, has decided that it will no longer pursue development of vintafolide. EnteroMedics Inc. (NASDAQ:ETRM) stock opened at $1.83, in current trading session and currently is at $1.69, by gaining 11.18%. The 52 week range of $1.00 – $2.66. Company’s market capitalization is 113.56 million.
Zalicus Inc. (NASDAQ:ZLCS), a biopharmaceutical company that discovers and develops novel treatments for patients suffering from pain, announced that it has licensed its Sodium Channel Modulator program, including intellectual property and related pipeline assets, to AnaBios Corporation in exchange for clinical milestone payments and royalties on potential future sales. Under the terms of the agreement Zalicus will be eligible to receive up to $17.2 million in clinical and regulatory milestone payments and up to 12% of net sales on any future products resulting from this license. Zalicus Inc. (NASDAQ:ZLCS) stock is currently trading at $1.34. The EPS of the stock is -1.21. Company’s market capitalization is 35.00 million.
Zeldes Haeggquist & Eck, LLP, a shareholder and consumer rights litigation firm has commenced an investigation into Prana Biotechnology Limited (NASDAQ:PRAN). The investigation is related to potential violations of federal securities laws and other violations. Prana Biotechnology researches and develops therapeutic drugs for the treatment of neurological disorders. The Company’s product line includes PBT2, which is in Phase II clinical trials for the treatment of Alzheimer’s disease. Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) stock opened the session at $2.03, and now is at $2.06. The 52 week range of the Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) stock remained $1.47 – $13.29 and the day range was $1.98 – $2.13.
Covidien plc (NYSE:COV) was downgraded by investment analysts at CRT Capital from a “buy” rating to a “fair value” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. They currently have a $93.22 price objective on the stock, up from their previous price objective of $82.00. CRT Capital’s price objective suggests a potential upside of 5.79% from the stock’s previous close. Covidien plc (NYSE:COV) stock opened today at $88.36 and is currently trading at $89.50. The stock showed a positive weekly performance of 20.75%.