Shares of San Jose, California-based Altera Corp. (ALTR) declined to $46.97 in the previous session in New York and have risen nearly 6% in pre-market trading Friday, following a NY Post article saying that chip giant Intel (INTC) is close to a $15 billion deal to buy Altera for as much as $54 a share, or a 15% premium over ALTR’s Thursday closing price.
Shares in the $14.14 billion market cap semiconductor company are up 44.12% year-over-year and off about 5.15% from their May 27, 2015, $49.52 52-week high. The Post said that the deal, if consummated, would be the biggest acquisition ever for the $160 billion market cap Intel.
Shares of Heron Therapeutics, Inc. (HRTX) are surging in pre-market hours, up $4.50, or 36.44%, at $16.85, on news of positive, top-line results from its recently completed Phase 3 MAGIC study.
Heron Therapeutics said “Primary endpoint achieved-SUSTOL, as part of a three-drug regimen, is the first 5-HT3 antagonist to demonstrate superiority to standard-of-care for delayed nausea and vomiting after HEC-SUSTOL-based regimen was associated with significantly reduced nausea and improved patient satisfaction.”
Shares of Prima Biomed Ltd. (PBMD) are rallying, up nearly 21 percent on Friday morning. The catalyst for the increase is news on an update on the company’s lead product, IMP321. Prima Biomed announces that it has filed for patent protection over the use of IMP321 in conjunction with checkpoint inhibitor molecules. According to Prima, this “breakthrough science not only bodes well for future clinical work on IMP321; it also offers commercial upside given the widespread expectation that new drugs working through various immune checkpoints will become blockbusters.”
Shares of Transgenomic Inc. (TBIO) are skyrocketing by 44.44% to $2.72 on heavy volume at the start of trading on Friday morning, after the company today announced the launch of its new Multiplexed ICE COLD-PCR™ (MX-ICP) CLIA service for mutation detection in cancer patients to enable more informed diagnoses, better treatment decisions and ongoing patient monitoring.
“Launching our Multiplexed ICE COLD-PCR-based CLIA mutation detection service for oncologists and their patients is a major milestone for Transgenomic and, we believe, an important advance for the field of precision medicine,” commented Paul Kinnon, President and Chief Executive Officer of Transgenomic. “The unsurpassed accuracy of MX-ICP and its ability to produce highly sensitive and accurate results from small amounts of almost any type of patient sample, especially liquid biopsies, allows broad use.”