Unusual 11 Mid-Day Movers 9/19: (SRPT) (ISLE) (NSAT) Higher; (VICL) (MGT) (MICT) Lower

September 19, 2016 12:56 PM EDT

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Sarepta Therapeutics' (Nasdaq: SRPT) 88.6% HIGHER; The U.S. Food and Drug Administration today approved Sarepta Therapeutics' Exondys 51 (eteplirsen) injection, the first drug approved to treat patients with Duchenne muscular dystrophy (DMD). Exondys 51 is specifically indicated for patients who have a confirmed mutation of the dystrophin gene amenable to exon 51 skipping, which affects about 13 percent of the population with DMD.

Isle of Capri Casinos, Inc. (Nasdaq: ISLE) 30.2% HIGHER; Eldorado Resorts, Inc. and Isle of Capri Casinos, Inc. announced that they have entered into a definitive merger agreement whereby Eldorado will acquire all of the outstanding shares of Isle of Capri for $23.00 in cash or 1.638 shares of Eldorado common stock, at the election of each Isle of Capri shareholder, reflecting total consideration of approximately $1.7 billion, inclusive of $929 million of long-term debt of Isle of Capri and its subsidiaries.

Norsat International Inc. (NYSE: NSAT) 24.5% HIGHER; announced that it has recently received indications of interest from multiple parties with respect to a strategic transaction. Privet Fund Management LLP ("Privet") is one such party that has offered to acquire the Company for cash consideration of US$8.00 per share subject to due diligence, financing and other conditions.

Vical Incorporated (Nasdaq: VICL) 21.8% LOWER; Vical and Astellas Pharma Inc. announced topline results from a randomized, double-blind, placebo-controlled Phase 2 study evaluating the safety and efficacy of cytomegalovirus (CMV) vaccine, ASP0113, versus placebo in kidney transplant patients receiving an organ from a CMV-seropositive donor. Results from the study demonstrated that the trial did not meet its primary endpoint, which was the proportion of patients having CMV viremia defined as a plasma viral load of = 1000 IU/mL by central laboratory assay through one year after first injection of study drug. Additionally, the secondary endpoints of CMV-associated disease and CMV-specific antiviral therapy, which were evaluated by an independent, blinded Adjudication Committee, were similar in both treatment groups.

Tech Data Corporation (Nasdaq: TECD) 21.2% HIGHER; Avnet, Inc. announced that it has entered into an agreement to sell its Technology Solutions operating group to Tech Data Corporation in a stock and cash transaction valued at approximately $2.6 billion. Under the terms of the agreement, Avnet will receive $2.4 billion in cash and 2.8 million shares of Tech Data common stock, currently valued at approximately $200 million.

PTC Therapeutics (Nasdaq: PTCT) 20.4% HIGHER; gaining amid Sarepta eteplirsen news.

MGT Capital Investments, Inc. (NYSE: MGT) 19.9% LOWER; announced that on September 15, 2016, it received a subpoena from the Securities and Exchange Commission requesting certain information from the Company. MGT has no indication or reason to believe that the Company is or will be the subject of any enforcement proceedings. The Company is fully cooperating to comply with the SEC's request.

Infoblox Inc. (NYSE: BLOX) 15.5% HIGHER; announced that it has entered into a definitive agreement to be acquired by Vista Equity Partners (“Vista”), a leading private equity firm focused on software, data and technology-enabled businesses. Under the terms of the agreement, Infoblox stockholders will receive $26.50 per share of common stock in cash.

Micronet Enertec Technologies, Inc. (Nasdaq: MICT) 13.5% LOWER; announced that its Aerospace and Defense (A&D) wholly owned subsidiary, Enertec Systems 2001 Ltd. (Enertec), was awarded with a $900,000 purchase order as part of the implementation of a previously announced project awarded to the Company in April 2014 by a multibillion dollar Israeli-based Defense and Aerospace contractor for the development, production and supply of a complex Command and Control system that was originally estimated to include revenues in total order of $5.8 million. As of this date the Company received continuing orders related to the project in a total of $4.7 million and expects to receive additional orders as originally estimated.

CVR Refining, LP (NYSE: CVRR) 13.0% LOWER; Velocity Midstream Partners, LLC, announced that Velocity Central Oklahoma Pipeline LLC, a wholly owned subsidiary of Velocity Midstream, has entered into definitive agreements with a subsidiary of CVR Refining, LP, related to Velocity's construction of a crude oil pipeline and terminal directly linking the fairway of the South Central Oklahoma Oil Province ("SCOOP") to CVR Refining's Wynnewood, Oklahoma, refinery.

MabVax Therapeutics Holdings, Inc. (Nasdaq: MBVX) 8.6% LOWER; reported on the early progress of its lead therapeutic antibody program, MVT-5873, currently in a phase I clinical trial in patients with pancreatic cancer and other CA19.9 positive malignancies. This trial is designed to establish safety, a recommended phase II dose (RP2D), and evaluate pharmacokinetics of MVT-5873, both as a monotherapy and in combination with the current standard of care chemotherapy.

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