Unusual 11 Mid-Day Movers 4/9: EPMD, ONCY, SPR, XRM Higher; MNKD, NRGN, NKTR, PTRY Lower

April 9, 2008 12:37 PM EDT

EP MedSystems, Inc. (NASDAQ: EPMD) 102% HIGHER; St. Jude Medical, Inc. (NYSE: STJ) will acquire the company for $3.00 per share.

MannKind Corp. (NASDAQ: MNKD) 60.9% LOWER; Warning from Pfizer on inhaled insulin causing lung cancer.

Neurogen Corporation (Nasdaq: NRGN) 31.8% LOWER; today announced it has entered into definitive agreements for a private placement offering of exchangeable preferred stock and warrants with selected institutional investors for gross proceeds of approximately $30.6 million before fees and expenses.

Nektar Therapeutics (NASDAQ: NKTR) 28.4% LOWER; Ceased all negotiations with potential partners for its inhaled insulin programs as a result of new data analysis from ongoing clinical trials conducted by Pfizer Inc. An increase in the number of new cases of lung cancer was observed in inhaled insulin patients as compared to the control group. All new incidences of lung cancer were in patients that are former smokers.

The Pantry (Nasdaq: PTRY) 24.8% LOWER; management sees a Q2 loss in the range of $0.24-$0.30, versus the consensus of a $0.17 profit. Shares of The Pantry are seeing heavy volume today: its stock has traded about 2.3 million times, versus its average daily voulme of 350,000 shares.

Oncolytics Biotech Inc. (NASDAQ: ONCY) 17.9% HIGHER; has spiked mid-day after it announced positive interim results from its U.K. combination REOLYSIN and carboplatin/paclitaxel trial.

Spirit AeroSystems Holdings (NYSE: SPR) 13.3% HIGHER; announced revised payment terms for deliveries from Spirit to Boeing (NYSE: BA). The revised terms will result in additional cash advance payments to Spirit in 2008 approximating the value anticipated to be delivered by Spirit in 2008 in the original B787 program schedule.

Xerium Technologies (NYSE: XRM) 10% HIGHER; last night, reported a Q4 loss of $3.69, which may not compare to the analyst estimate of $0.18. Revenues for the quarter were $164.2 million, versus the consensus of $157.66 million.

Antigenics Inc. (NASDAQ: AGEN) 8.6% LOWER; today announced that it has entered into definitive agreements to sell in a private placement 7 million shares of its common stock at a price of $3.00 per share. Proceeds from the sale are expected to reach $21 million, before deducting placement agent fees and other offering expenses. With this private placement, investors will also receive five-year warrants to purchase up to 7 million additional shares of common stock at an exercise price of $3.75 per share.

GrafTech International (NYSE: GTI) 7.3% HIGHER; upgraded at Oppenheimer from Perform to Outperform, citing strong earnings and growth outlook. Price target $24.

Sealy Corp. (NYSE: ZZ) 6.3% HIGHER; reports Q1 EPS of $0.17, 7 cents better than the analyst estimate of $0.10. Revenues for the quarter were $391.9 million, versus the consensus of $383.78 million. Suspending their quarterly dividend.

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