Morning Movers 7/6: PLX, NTWK, ATSI Higher; SPPI, ELRN Lower

July 6, 2009 9:05 AM EDT

Protalix BioTherapeutics, Inc. (NYSE: PLX) 22% HIGHER; announced that it was approached by the FDA and asked to consider submitting a treatment protocol for the use of prGCD in patients with Gaucher disease in order to address an expected shortage of the drug Cerezyme(R), a mammalian cell expressed version of glucocerebrosidase and the only enzyme replacement therapy currently approved for Gaucher disease. Click here for the full report.

Spectrum Pharmaceuticals (Nasdaq: SPPI) 16.3% LOWER; today announced that it has received a Complete Response letter from the U.S. FDA regarding its supplemental Biologics License Application for ZEVALIN(R) (ibritumomab tiuxetan) in the first-line consolidation setting for non-Hodgkin's Lymphoma (NHL) patients. The Prescription Drug User Fee Act Action Date for the ZEVALIN sBLA in the first-line consolidation setting was July 2, 2009. ZEVALIN is currently FDA approved and marketed by Spectrum for the treatment of patients with relapsed or refractory, low-grade or follicular B-cell NHL, including patients who have rituximab-refractory follicular NHL. Click here for the full report.

Elron Electronic Industries Ltd. (NASDAQ: ELRN) 11.5% LOWER; today announced that further to its announcement on May 20, 2009, Elron intends to negotiate with Clal Industries and Investments Ltd. and Discount Investment Corporation Ltd. regarding a transaction whereby Clal and DIC will acquire from Elron, its approximately 15% interest in NetVision Ltd., a provider of communication services in Israel. The price of Elron's interest in Netvision will be determined by negotiation between the parties based on an appraisal of such interest to be prepared, and for that purpose, an independent appraiser was today jointly appointed by the parties. In addition, Elron intends to engage an independent expert to express an opinion as to the fairness for Elron of the price to be determined. Click here for the full report.

NetSol Technologies, Inc. (NASDAQ: NTWK) 9.4% HIGHER; today announced that a Netherlands-based company, focused on the wholesale commercial finance sector, has selected NetSol's Wholesale Finance System offering, within the NetSol Financial Suite, for their Channel Finance business in Europe.

ATS Medical, Inc. (Nasdaq: ATSI) 9.3% HIGHER; announced FDA clearance and the first implant of the ATS Simulus Semi-Rigid Annuloplasty Band. The Simulus Semi-Rigid Annuloplasty Band was developed through the Company's collaboration with Genesee BioMedical and represents the latest addition to the expanding portfolio of valve repair products.

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