Medgenics, Inc. (MDGN) Moves 22%, Hits New 52-Week High
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Price: $4.07 --0%
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 7 | New: 10
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 7 | New: 10
Trade MDGN Now!
Shares of small-cap Medgenics, Inc. (Nasdaq: MDGN) are trading up almost 22% this afternoon, with no specific news releases.
However, back on June 20, 2012, the company announced that its INFRADURE Biopump has received Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) Office of Orphan Products Development (OOPD) for the treatment of hepatitis D. INFRADURE is the version of Medgenics’ Biopump technology platform which produces interferon alpha, commonly used to treat hepatitis. This marks the first Orphan Drug Designation granted for treatment of a clinical indication using the Biopump.
The market size for treatment of hepatitis is in the billion of dollars.
The Monday, July 2, 2012, Medgenics announced former Celgene Corporation (Nasdaq: CELG) Chairman and Chief Executive Officer, Sol J. Barer, PhD. (age 65) has been appointed as the Chairman of the Board.
Some believe that Dr. Barer has had success building small bio-tech firms into multi-billion powerhouses and this is a prime opportunity for him to do it again.
There isn't much Wall Street coverage on this company...currently Maxim Group has a Buy rating and $8 price target.
Medgenics, Inc., a protein-therapeutics medical technology company, engages in the research and development of products in the field of biotechnology and associated medical equipment in the U.S.
To see more news releases on MDGN, Click Here
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However, back on June 20, 2012, the company announced that its INFRADURE Biopump has received Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) Office of Orphan Products Development (OOPD) for the treatment of hepatitis D. INFRADURE is the version of Medgenics’ Biopump technology platform which produces interferon alpha, commonly used to treat hepatitis. This marks the first Orphan Drug Designation granted for treatment of a clinical indication using the Biopump.
The market size for treatment of hepatitis is in the billion of dollars.
The Monday, July 2, 2012, Medgenics announced former Celgene Corporation (Nasdaq: CELG) Chairman and Chief Executive Officer, Sol J. Barer, PhD. (age 65) has been appointed as the Chairman of the Board.
Some believe that Dr. Barer has had success building small bio-tech firms into multi-billion powerhouses and this is a prime opportunity for him to do it again.
There isn't much Wall Street coverage on this company...currently Maxim Group has a Buy rating and $8 price target.
Medgenics, Inc., a protein-therapeutics medical technology company, engages in the research and development of products in the field of biotechnology and associated medical equipment in the U.S.
To see more news releases on MDGN, Click Here
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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