New York, New York, October 14, 2012 -- UTStarcom Holdings Corp(NASDAQ:UTSI) shares dropped 1.01% and closed at $0.980 in the last trading session. The company, on Oct. 12, announced that it has appointed Mr. Tianruo (Robert) Pu, Chairman of the Company's Audit Committee and an independent director of the Board, as the Company's Chief Financial Officer, effective immediately. Mr. Pu replaces Ms. Jin Jiang, who has resigned to pursue other opportunities.
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Inovio Pharmaceuticals, Inc.(NYSEAMEX:INO) shares closed at $0.710 in yesterday’s session. The company announced clinical results indicating that its VGX-3100 therapeutic synthetic vaccine is capable of not only driving robust immune responses to antigens from high risk types of human papillomavirus (HPV) infection but that these immune responses displayed a powerful killing effect on cells changed by HPV into precancerous dysplasias.
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Savient Pharmaceuticals, Inc.(NASDAQ:SVNT) shares fell 1.74% and closed at $2.26 in yesterday’s session. Research analysts at William Blair raised their target price on shares of SVNT from $2.00 to $3.00 in a report released on Oct. 8. The firm currently has an “outperform” rating on the stock. Analysts expect that Savient Pharmaceuticals will post $-1.64 EPS for the current fiscal year.
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The Wet Seal, Inc.(NASDAQ:WTSLA) shares fell 0.33% and closed at $3.06 in yesterday’s session. The company, last week, announced the appointment of four new members to its Board of Directors and the appointment of Lynda J. Davey as Chairman of the Board.
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Zalicus Inc(NASDAQ:ZLCS) shares climbed 1.49% and closed at $0.600 in the previous trading session. The company, last month, announced top line results from its randomized, double-blind, placebo-controlled, Phase 2b clinical trial of Synavive in rheumatoid arthritis (RA). The Phase 2b trial demonstrated that patients treated with Synavive achieved a statistically significant improvement in signs and symptoms of moderate to severe RA compared to placebo, as measured by Disease Activity Score (DAS28-CRP), after 12 weeks of treatment, which represents a -0.9 change from baseline for Synavive (approximately 17% improvement) compared to a -0.5 change from baseline for placebo (approximately 10% improvement), but missed the key secondary endpoint of demonstrating a meaningful clinical benefit, assessed by DAS28-CRP, compared to prednisolone 2.7mg, the active glucocorticoid component in Synavive.
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