Unusual 11 Mid-Day Movers 11/14: (CRBP) (DRYS) (HAR) Higher; (DVAX) (RSO) (HEAR) Lower

November 14, 2016 1:09 PM EST
Get Alerts CRBP Hot Sheet
Trade CRBP Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

Corbus Pharmaceuticals Holdings, Inc. (Nasdaq: CRBP) 65.9% HIGHER; announced positive topline results from its Phase 2 study evaluating Resunab ("JBT-101") for the treatment of diffuse cutaneous systemic sclerosis. JBT-101 out-performed placebo in the American College of Rheumatology (ACR) Combined Response Index in diffuse cutaneous Systemic Sclerosis (CRISS) score, reaching 33% at week 16, versus 0% for placebo. The higher the CRISS score the greater the improvement; a CRISS score = 20% (CRISS20) can be considered a medically meaningful improvement

Dynavax Technologies Corporation (Nasdaq: DVAX) 63.2% LOWER; announced that it has received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding its Biologics License Application (BLA) for HEPLISAV-B [Hepatitis B Vaccine, Recombinant (Adjuvanted)] for immunization of adults 18 years and older against hepatitis B infection. The FDA issues CRLs to communicate that the Agency has completed a review cycle of an application and to request additional information for review and approval. Dynavax expects a Class 2 designation for a resubmission of the BLA, which would result in a target review period of six months.

DryShips (Nasdaq: DRYS) 61.5% HIGHER; seeing continued volatility. Shares are up nearly 400 percent from a close at $4.56 on Novenber 8th.

Resource Capital (NYSE: RSO) 28.9% LOWER; reported Q3 FFO of $0.42, versus $0.44 reported last year. In November, the board of directors approved a strategic plan (the "Plan") that will allow RSO to focus on making commercial real estate ("CRE") debt investments. The Plan will include exiting underperforming non-CRE businesses and investments, disposing of certain underperforming legacy CRE debt investments and establishing a dividend policy based on sustainable earnings.

Harman International Industries (NYSE: HAR) 25.0% HIGHER; Samsung Electronics and Harman announced that they have entered into a definitive agreement under which Samsung will acquire HARMAN for $112.00 per share in cash, or total equity value of approximately $8.0 billion

Turtle Beach Corporation (Nasdaq: HEAR) 24.2% LOWER; B. Riley downgraded Turtle Beach from Buy to Neutral with a price target of $1.80. Analyst Eric Wold said he prefers a more attractive entry point following recent gains.

Puma Biotech (NYSE: PBYI) 21.9% LOWER; lower as SABCS abstracts were released. For more color, click here.

Mentor Graphics (Nasdaq: MENT) 18.3% HIGHER; Siemens is further building its Vision 2020 to shape Digital Industrial Enterprise by expanding its unique portfolio for industrial software. Siemens and Mentor Graphics announced that they have entered into a merger agreement under which Siemens will acquire Mentor for $37.25 per share in cash, which represents an enterprise value of $4.5 billion.

Ocean Bio-Chem (Nasdaq: OBCI) 17.8% HIGHER; reported Q3 EPS of $0.17, versus $0.03 reported last year. Revenue for the quarter came in at $12.21 million, versus $10.84 million reported last year.

Digi International Inc. (Nasdaq: DGII) 16.1% HIGHER; confirmed that it received an unsolicited, conditional and non-binding proposal from Belden Inc. to acquire the Company for $13.82 per share in cash. After careful evaluation and in consultation with its independent financial and legal advisors, the Digi Board of Directors unanimously rejected the proposal on November 8 and again on November 11, 2016, determining that the proposal significantly undervalues Digi and its future growth prospects and is not in the best interest of the Company and its shareholders.

Galena Biopharma, Inc. (Nasdaq: GALE) 16.0% LOWER; announced that data from Galena’s GALE-301/GALE-302 clinical program was presented at the Society for Immunotherapy of Cancer Conference 2016 in National Harbor, Maryland. GALE-301 (E39) and GALE-302 (E39’ – variant of E39) are cancer immunotherapies that consist of a peptide derived from Folate Binding Protein (FBP) combined with the immune adjuvant, granulocyte macrophage-colony stimulating factor (GM-CSF) for the prevention of cancer recurrence in the adjuvant setting ... Both E39 and E39' are well tolerated with all related adverse events at grade 1 or grade 2. Though numbers were small, patients boosted with the attenuated peptide showed increased CTL response to boosting regardless of significant residual immunity (SRI) resulting from the primary vaccination series (PVS). While this data needs to be confirmed with a larger sample size, this is consistent with the theoretical advantage of boosting with an attenuated peptide, which is expected to induce less antigen-induced cell death of CTLs.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Special Reports

Related Entities

B. Riley, Unusual 11 Mid-Day Movers, Earnings, Definitive Agreement

Add Your Comment