Shares of Integrated Silicon Solution Inc. (ISSI) are higher by 7.04% to $20.06 in morning trading on Thursday after memory chip maker Cypress Semiconductor (CY) sent a letter to the Board of Integrated Silicon Solution offering to acquire 100% of its outstanding shares of common stock for $19.75 per share in cash.
Cypress said in its letter that its “proposal is superior to the $19.25 per share sale price ISSI agreed to in the Agreement and Plan of Merger entered into with the “Consortium” on March 12, 2015 (the “Consortium Merger Agreement”).
Cyren Ltd. (CYRN) shares surged more than 10% to $3.32 in early trading following an agreement with Dell that adds Cyren’s antimalware technology to Dell SonicWALL Email Security appliances, software, virtual appliances and hosted services.
“By adding Cyren’s engine to our Dell SonicWALL email security solutions, we’re creating a powerful multi-engine approach to security that further boosts protection for our clients,” said in a press release Edward Cohen, executive director of strategy and business development for Dell Software. “Cyren proved to be easily integrated into our platform and offers a level of performance that is vital for our users.”
Shares of Novogen Limited (NVGN) are up $0.31, or over 5%, at $6.38, after the US-Australian drug discovery company this morning announced that it has confirmed that drug candidate, Anisina, is an effective monotherapy against human melanoma in an animal model.
Vascular Biogenics Ltd. (VBLT) share price rocketed 2.74 points, or 67.16%, to $6.82 as of 9:50 AM ET as the company announced its plan to present positive Phase 1/2 data for VB-111 in recurrent platinum-resistant Mullerian cancer at ASCO Annual Meeting.
Digital Ally Inc. (DGLY) shares plunged 14.75% to $15.60 in morning trading. The maker of advanced video surveillance products for law enforcement reported first quarter 2015 results after the market close last night. Revenue came in 9% higher yoy to $4.2 million compared with approximately $3.9 million in the quarter ended March 31, 2014. EPS was ($0.45), down 246% from ($0.13) last year.
“While our first quarter revenue exceeded prior-year levels by 9%, we believe the increase would have been significantly greater if certain suppliers had been able to deliver long lead time components on a timely basis,” stated Stanton E. Ross, Chief Executive Officer of Digital Ally, Inc. “As a result of certain component shortages, we were restricted in the number of FirstVU HD body-worn cameras that we were able to ship in the three months ended March 31, 2015. However, we are encouraged that orders for the FirstVU HD continue to increase in response to growing recognition of the value of video evidence among law enforcement agencies throughout the U.S. and abroad.”
Digital Ally reiterated its previous guidance that FY/15 total revenue is expected to approximate $25 million, compared with total revenue of $17.4 million in 2014.
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