Morning Movers 11/16: SPEX, NLST, XJT, NABI, KHD, IBKC, SPA Higher; PARD, CRXX, CAEI Lower

November 16, 2009 10:11 AM EST

Poniard Pharmaceuticals, Inc. (NASDAQ: PARD) 77% LOWER; today announced that its pivotal Phase 3 SPEAR (Study of Picoplatin Efficacy After Relapse) trial of picoplatin in the second-line treatment of small cell lung cancer did not meet its primary endpoint of overall survival. The analysis, based on 320 evaluable events (patient deaths), showed a hazard ratio of 0.82 with a p value of 0.089. The stock was also downgraded at Merriman Curhan Ford.

Spherix Incorporated (NASDAQ: SPEX) 72% HIGHER; today announced positive interim Phase 3 clinical results for the planned review of the NEET (Naturlose (D-tagatose) Efficacy Evaluation Trial) trial of D-tagatose in drug naive patients. Click here to see the full report.

CombinatoRx, Incorporated (NASDAQ: CRXX) 39.3% LOWER; CRXX and Neuromed Pharmaceuticals Inc. today announced that on November 13, 2009, representatives of Neuromed discussed the pending New Drug Application for the product candidate EXALGO^TM (hydromorphone HCl extended release) tablets, seeking FDA approval for the management of moderate to severe pain in opioid tolerant patients requiring continuous, around-the-clock opioid analgesia for an extended period of time, with staff from the United States FDA. In these discussions, the FDA staff indicated that the NDA in its current form would not be sufficient to form the
basis for approval of Exalgo under Section 505(b)(1) of the Food, Drug and Cosmetic Act of 1938, as amended. Click here for the full report.

Netlist, Inc. (Nasdaq: NLST) 31.3% HIGHER; At Supercomputing 09, Netlist is demonstrating the world's first 16GB 2 virtual rank (vRank) double-data-rate three, registered dual in-line memory module (DDR3 RDIMM), HyperCloud(TM). Since unveiling the product on November 11, shares are now up 248%.

ExpressJet Holdings, Inc. (NYSE: XJT) 27.3% HIGHER; UAL Corporation (Nasdaq: UAUA) today announced that ExpressJet Airlines will operate 22 ERJ-145 aircraft under the United Express brand.

China Architectural Engineering, Inc. (Nasdaq: CAEI) 24.9% LOWER; reports Q3 loss of $0.16, compared to a profit of $0.18 in the same quarter last year. Revenue for the quarter was $25.6 million, versus $56 million in Q308.

Nabi Biopharmaceuticals (NASDAQ: NABI) 23.6% HIGHER; GlaxoSmithKline Biologicals SA (NYSE: GSK) and Nabi today announced an exclusive worldwide option and licensing agreement for NicVAX, an investigational vaccine for the treatment of nicotine addiction and the prevention of smoking relapse, as well as for the development of a second generation nicotine vaccine. Under the terms of the agreement GSK will pay to Nabi an upfront non-refundable fee of $40 million at closing and will receive an option to exclusively in-license NicVAX on a worldwide basis and a license to develop follow-on next-generation nicotine vaccines using Nabi's intellectual property. Together with the upfront payment, Nabi is eligible to receive over $500 million in option fees and regulatory, development and sales milestones for NicVAX and follow-on nicotine vaccines. Nabi will also receive double-digit royalties on global sales of NicVAX should GSK exercise its option as well as royalties on global sales of next generation nicotine vaccines.

American Dairy Inc. (NYSE: ADY) 20.5% LOWER; reports Q3 EPS of $0.52, versus the analyst estimate of $0.31. Revenue for the quarter was $72.1 million, which compares to the estimate of $74.13 million.

KHD Humboldt Wedag International Ltd. (NYSE: KHD) 17.5% HIGHER; reports Q3 EPS of $0.25, 20 cents better than the analyst estimate of $0.05. Revenue for the quarter was $148.2 million, which compares to the estimate of $101.59 million.

IBERIABANK (Nasdaq: IBKC) 15.1% HIGHER; announced late Friday that it has entered into purchase and assumption agreements with loss share arrangements with the FDIC to purchase certain assets and to assume certain deposit and other liabilities of two Florida-based failed financial institutions. The two acquisitions are - Orion Bank, a full service Florida-chartered commercial bank headquartered in Naples, Florida and Century Bank, FSB, a full service federal thrift headquartered in Sarasota, Florida. The stock was also upgraded at B. Riley.

Sparton (NYSE: SPA) 12.9% HIGHER; reports Q1 EPS of $0.14, versus the analyst estimate of ($0.28) and compared to the ($0.34) reported in the same quarter last year. Revenue for the quarter was $48.1 million, which compares to the estimate of $52.73 million.

Ladish Co. (Nasdaq: LDSH) 10.2% HIGHER; FBR Capital upgrades the stock from Market Perform to Outperform. Price target $14. Click here to see more color on the upgrade.

Sprint (NYSE: S) 9.7% HIGHER; Credit Suisse upgraded the shares to Outperform from Neutral with a $6 price target (prev. $4) and adding it to their Focus List. Click here for full color.

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