ACADIA Pharmaceuticals (Nasdaq: ACAD) 107% HIGHER; Announced positive top-line results from its Phase II schizophrenia co-therapy trial with ACP-103, ACADIA’s proprietary and selective 5-HT2A inverse agonist. The co-therapy arms with ACP-103 demonstrated statistically significant antipsychotic efficacy as measured by the reduction in the Positive and Negative Syndrome Scale (PANSS), the primary endpoint of the trial. In addition, the co-therapy arm combining ACP-103 with low-dose risperidone demonstrated a statistically significant improvement in antipsychotic efficacy as compared to low-dose risperidone plus placebo, and comparable efficacy to high-dose risperidone plus placebo.
AtheroGenics (Nasdaq: AGIX) 59.1% LOWER; Announced that its ARISE Phase III clinical study of its lead drug candidate, AGI-1067, did not show a difference from placebo in its composite primary endpoint; however, it did achieve a number of other important predefined endpoints.
Hancock Fabrics Inc. (NYSE: HKF) 36% HIGHER; Stock rebounding with no specific news releases. (NOTE – the stock has fallen over 55% in the past two weeks)
PeopleSupport (Nasdaq: PSPT); 21% LOWER; Cowen & Co downgrades the stock from Outperform to Neutral.
TODCO (NYSE: THE) 18% HIGHER; Hercules Offshore (Nasdaq: HERO) and TODCO entered into a definitive merger agreement pursuant to which Hercules Offshore will acquire 100% of the outstanding stock of TODCO (NYSE: THE) in a stock and cash transaction valued at approximately $2.3 billion.
SIGA Technologies (NASDAQ: SIGA) 14.8% HIGHER; Announced this morning that a toddler who inadvertently contracted eczema vaccinatum has been treated with ST-246, SIGA’s lead smallpox drug candidate, pursuant to an Emergency Investigational New Drug Application granted by the FDA, and is now improving.
InfraSource Services, Inc. (NYSE: IFS) 13.2% HIGHER; Quanta Services, Inc. (NYSE: PWR) and InfraSource Services signed a definitive merger agreement under which Quanta will acquire InfraSource in an all-stock transaction valued at $1.26 billion based on Quanta’s closing stock price on March 16, 2007.
The ServiceMaster Company (NYSE: SVM) 12.25% HIGHER; Entered into a definitive merger agreement to be acquired by an investment group led by Clayton, Dubilier & Rice, Inc for $15.625 per share.
Research Frontiers (Nasdaq: REFR) 11.6% HIGHER; The company announced that SmartGlass International Ltd. has acquired a non-exclusive license to use Research Frontiers’ patented SPD-Smart(TM) light-control technology for architectural smart windows, skylights and similar products in the United Kingdom and Republic of Ireland.
Genesco Inc. (NYSE: GCO) 8% HIGHER; WWD (Women’s Wear Daily) reports Foot Locker (NYSE: FL) is preparing a bid for Genesco. The article reports financial sources say Foot Locker is preparing a tender offer for shares of GCO between $44-46 per share and could be announced as soon as this week.
Pope & Talbot (NYSE: POP) 6% LOWER; Company delays 10-K filing, saying 10-K will contain ‘Going Concern’ warning related to credit covenant uncertainty.