Tuesday, August 28, 2012

Molycorp Inc Surges 7% (GILD, DEPO, MCP, RPRX, MNKD)

Gilead Sciences Inc (NASDAQ:GILD) went up 0.87% to $57.68.  The U.S. Food and Drug Administration have approved Stribild. Stribil is a complete once daily single tablet regimen for HIV-1 infection for treatment-naïve adults. The therapy was cleared as a medicine that will help simplify patients’ treatment regimens. Stribild combines four compounds in one daily tablet elvitegravir, cobicistat, and emtricitabine and tenofovir disoproxil fumarate.

DepoMed Inc (NASDAQ:DEPO) surged up 3.52% to $5.29. Janssen Pharmaceuticals has licensed rights to Depomed's Acuform gastric retentive drug delivery technology. Under the terms of the agreement, Janssen received a non-exclusive license and other rights to certain Acuform patents. Depomed will receive an upfront payment of $10 million and will receive a low single digit royalty on net sales of NUCYNTA in the U.S., Canada and Japan from and after July 2, 2012 through December 31, 2021.

Molycorp Inc (NYSE:MCP) soared 6.72% to $10.16 on a traded volume of 6.61 million shares. The company has started operations at a new California mine that will become a source of rare earth elements used in applications ranging from hybrid electric vehicles to consumer electronics. The project Phoenix facilities at Mountain Pass in California will produce heavy rare earth concentrate from ore mined at the location. The concentrate will then be processed into rare earth products at Molycorp's global production facilities.

Has MCP Found The Bottom? Find Out Here

Repros Therapeutics Inc (NASDAQ:RPRX) plunged 1.48% to $10.68. The Company said that the FDA has provided guidance for a Phase 2 study of low dose oral Proellex in the treatment of endometriosis. The FDA guided that the primary endpoint is percent reduction in narcotic usage to control endometriosis related pelvic pain from baseline to the end of the four month study comparing placebo to Proellex.

MannKind Corporation (NASDAQ:MNKD) moved up 5.40% to $2.75. Zacks restated a neutral rating on the stock on the stock in a research note. The price target is set at $2.25.

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