Central European Distribution Corp (NASDAQ:CEDC) shares soared 34.66% to $3.71 after the company announced that it has signed amended definitive agreements on its previously announced strategic alliance with Russian Standard Corporation. The alliance is expected to significantly strengthen CEDC's balance sheet and create a powerful portfolio of brands with enhanced production, distribution and sales channels throughout Central and Eastern Europe.
Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) shares climbed 13.64% to $57.08 after the company’s preliminary June estimates for its shipped paid Acthar prescriptions show month-to-month increases as the company has worked to increase physician awareness for its prescriptions though expansion of its sales force. The company bought the rights to its only drug Acthar, a steroid alternative, from Aventis SA in 2001.
Meru Networks, Inc. (NASDAQ:MERU) shares surged 15.79% to $1.98 on no official news. The 52 week trading range for the company is $1.42 - $11.93. The shares of the company have plunged over 80% in the last one year. On June 26, 2012, the company announced availability of Identity Manager the industry's first integrated Bring-Your-Own-Device (BYOD) provisioning and guest access solution with Property Management System (PMS) capabilities.
Antares Pharma Inc (NASDAQ:ATRS) shares gained 11.97% to $4.77. On July 2, 2012, the company announced the appointment of Jonathan S. Jaffe MD to the position of Vice President of Clinical Development. Jonathan's background includes a 12 year post-graduate career in academic medicine and over 15 years of experience in global drug development in the pharmaceutical industry.
Rexahn Pharmaceuticals, Inc. (NYSEAMEX:RNN) shares gained 9.31% to $0.711. On July 2, 2012, the company announced that it has submitted an investigational new drug application (IND) to the Food and Drug Administration for a first-in-human study of RX-5902 to treat advanced or metastatic solid tumors. RX-5902 is a first-in-class small molecule that inhibits the phosphorylated p68 RNA helicase, a protein that plays a key role in cancer growth, progression and metastasis.