Shares of Anacor Pharmaceuticals (ANAC) spiked up by more than 38.50% to $117.25 in Monday’s pre-market session after the company announced in a press release that its experimental topical lotion, known as crisaborole, cleared eczema skin rash better than a placebo.
“We are extremely pleased by the top-line results from our Phase 3 pivotal studies of crisaborole,” stated Paul L. Berns, Chairman and CEO of Anacor. “We believe there is a significant unmet medical need for a novel non-steroidal topical anti-inflammatory treatment option for the patients who are affected by mild-to-moderate atopic dermatitis.”
Anacor said it intends to seek U.S. approval for the non-steroidal topical anti-inflammatory PDE-4 inhibitor in the first half of next year, based on the data collected from the studies.
Shares of Ohr Pharmaceutical, Inc. (OHRP) are skyrocketing by 24.78% to $2.82 on heavy volume at the start of trading on Monday morning, after the ophthalmology research and development firm announced positive results from its Phase II clinical study of OHR-102 to treat retinal vein occlusion. Ohr Pharma said the results demonstrated that, following an initial 10 week combination therapy treatment period, patients who continued to receive a combination of topical OHR-102 BID plus Lucentis achieved greater visual acuity gains than the control group who received Lucentis alone.
Apple Inc. (AAPL) — Canaccord Genuity’s T. Michael Walkley has issued a report showing Cupertino earned 92% of the total profits of the top eight smartphone makers during the first quarter. That 92% share is down a hair from the 93% Apple grabbed the previous quarter.
AAPL closed at $120.07 on Friday, and shares were up 1.33% at $124.93 in early morning trading on Monday.
Shares of Kandi Technologies Group, Inc. (KNDI) are higher by 6.44% to $8.10 in pre-market trading on Monday after announcing that Kandi Electric Vehicles Group plans to deliver an initial order of 2,000 Kandi Brand electric vehicles to launch Kunming’s Micro Public Transportation program.
Shares of Remy International, Inc. (REMY) are jumping by 42.12% to $29.22 at the start of trading on Monday morning after the maker of electric and hybrid motors announced it is being acquired by auto parts maker BorgWarner Inc for about $1.2 billion in cash, including debt.
BorgWarner’s offer of $29.50/shr represents a premium of 44% to Remy’s closing pps of $20.53 on Friday.
The transaction is expected to close in the fourth quarter of 2015.