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Unilife secures new financing
Unilife (UNIS) closes $60M debt deal with OrbiMed. $40M funds immediately followed by $10M in December and $10M in June 2015.
The six-year agreement stipulates the company make interest-only payments at a rate of 10.25% per annum. The principal is due by March 12, 2020.
OrbiMed will earn tiered royalty payments on Unilife net sales up to a maximum of 2.75%.
http://seekingalpha.com/pr/9253623-unilife-secures-60-million-debt-financing-with-orbimed-advisors
Plug Power +9% premarket as orders seen quadrupling in 2014
Plug Power (PLUG) +8.8% premarket after issuing Q4 results that beat revenue estimates and predicting orders will rise more than fourfold this year to more than $150M.
Unadjusted net loss widened to $28.9M from $8.47M in the year-ago quarter, mainly because of a $20M charge related to a change in the fair value of previously issued common stock warrants.
Bookings reached $32M in the quarter, as strong product sales and maintenance orders were received from large companies such as Wal-Mart, Kroger, BMW and Mercedes-Benz; shipments fell 46% Y/Y to 279 units.
“I am more bullish than ever that Plug Power is moving into a rapid growth cycle,” CEO Andy Marsh says, expecting EBITDA to break even by Q3.
FDA panel recommends primary use of Roche cervical-cancer test
An FDA federal advisory committee has unanimously recommended the approval of a DNA test developed by Roche (RHHBF) as the primary screening tool for cervical cancer in women.
The product would be used alone on women aged 25 and older, and could eventually supersede the PAP test, which has been around for 60 years.
The market for Roche's test and those of other companies is worth over $200M.
http://www.nytimes.com/2014/03/13/health/an-fda-panel-recommends-a-possible-replacement-for-the-pap-test.html?_r=0
Actavis to launch generic Celebrex
Actavis (ACT) confirms that it will launch its generic Celebrex product in May after yesterday's favorable court ruling invalidating Pfizer's (PFE) patent.
The FDA must approval its Abbreviated New Drug Application before commercialization commences.
Celebrex generated $2.2B in US sales last year
Dollar General falls hard on light guidance
Dollar General (DG) trades lower after reporting Q4 results and issuing guidance below the expectations of analysts.
The retailer sees Q1 same-store sales of 2% to 3%.
FY14 EPS is pegged at $3.45-$3.55 vs $3.69 consensus.
DG -4.5% premarket
ARCP sets spinoff of $2.2B multi-tenant shopping center unit
The new company, American Realty Capital Centers, will operate under the name ARCenters and trade on the Nasdaq under the symbol ARCM. ARCP will retain a 25% interest in ARCM.
ARCenters will initially own 69 multi-tenant shopping centers with estimated 2014 NOI of $139M. Other than ARCP Chairman and CEO Nicholas Schorsch, no directors or employees of the parent will be directors of the new company.
ARCP President David Kay: "We recognized that the market was not giving us full value for our high-quality shopping centers." He expects leverage of ARCP to fall to 7x after the spinoff, the combined dividend to increase 7.3%, and AFFO per share accretion.
ARCP common shareholders will receive 1 share of ARCenters for every 10 shares of ARCP common stock.
CC at 10:30 ET
J.C. Penney in rally mode as home goods department relaunches
Shares of J.C. Penney (JCP) are frisky in early trading to keep up their upswing this week.
The retailer is relaunching its home goods section today in a back-to-the-basics move that analysts think can bring back disgruntled former JCP shoppers.
Sales of home goods at J.C. Penney fell to $1.3B last year after bringing in over $4B just seven years ago.
JCP +2.5% premarket
GE files for IPO of consumer finance unit
After the completion of the IPO, GE Capital Retail Finance will operate under the name Synchrony Financial and will trade on the Big Board under the symbol SYF. The move will go a long way into making GE less a bank and more an industrial play.
The size of the IPO isn't yet listed, but previous plans were to sell about 20% of the unit (with full unit valuation in the area of $20B) this year, with a complete exit from retail finance in 2015 through a spinoff of the rest to shareholders
Dr. Reddy's recalls drug
India's generic drug maker Dr. Reddy's Ltd (RDY) recalls 58,656 bottles of its heartburn drug lansoprazole in the US due to microbial contamination.
The Class II recall means that there is a slight chance of a serious adverse event or even death to a person consuming the product.
APPY bio runner dujour
Venaxis up 27% premarket on positive study results
Shares of nano cap Venaxis (APPY) are up big before the open in response to its disclosure of positive top-line results for its APP1 Test, a multiple biomarker-based diagnostic assay for identifying patients who are at low risk for appendicitis.
The firm expects to file its 510(k) application with the FDA in the next several weeks.
The test's negative predictive value, the primary performance metric, is 97.3%.
11 mutual funds have positions, down from 14 a year earlier.
http://seekingalpha.com/pr/9252343-venaxis-announces-positive-top-line-results-from-pivotal-study-of-appy1-test
I haven't checked but I assume analysts will begin lowering estimates on PFE..let's see if sector Kevlar holds it up..
Celebrex is a very high margin drug and it will hit bottom line hard..
Shazam!,k..now belly up and buy us a round or three
Weeeeee...lol
Dropped to 54 then bounce to 62 I think..I was gone in 58s..pfft
Lol..same sensor a year ago
Just notice NTAP quite large trade at close..now news of layoffs..lol
I do..sometimes it comes on for a few hours and then stops..annoying.. Its a 2008..not the greatest piece of engineering but great for kids etc
Lmao..already on freebies there..was hoping HLF woulda tanked big earlier but flipped 100 for lunch money.may get some puts just in case Feds get militant
Mine has a bunch of buttons..remote start ..door locks..panic ..and the 3 for sliding doors and leftgate in back..
Annoying that remote start no work if check engine light on..but its a beautiful thing in the winter
Yawnnnn..need 60% a/h tanker..anything?..lol
Had same issue for Chrysler mini van..one of the keys imploded and had to replace..they want $350..I said its friggin $40 online..but they know u need 2 working keys to program additional ones so they get greedy..I let them start programming new one then got all manly and said forget about it...I don't want it..give me back my car etc..end result done for $100 ..lol
Agreed
Cool beans..eyes on the prize..hope NBG doesnt give it to shareholders Greek style
Have ya changed by-laws that henceforth all residents will adhere to a strick socks only policy?
Ahh..to be retired in the rocky mountain state..lol
Lolzzz..so u partake in any HDY..PLUG carnage?
Juniper vows to continue Palo Alto fight; Elliott up stake to 7.4%
For now at least, Juniper (JNPR +0.4%) isn't showing any signs it's ready to settle with Palo Alto Networks (PANW +1%) after a mistrial was declared last week for its huge patent suit."We look forward to presenting our case to a new jury in the near future," the networking/security hardware vendor declares in a statement.Meanwhile, Elliott Management has disclosed its Juniper stake is now at 7.4%, up from the 6.2% position it announced in January. Since Elliott's original announcement, Juniper has largely granted the firm's wish list.
What ya got cooking? Beside brownies..
Non union masons..lol
Give or take
Will O'bama be getting his Irish up?
Less is more?
How uncommon is it for insiders to hedge after conversion? And is it always disclosed?
If govt is legit they won't ax them....but if ObigOne pulls some executive order bullchit..
What time u have for NBG goes to 7?
Just curious..lol
Generally no but with crazy volume I think hedgies and harb's can..(H+H thingy)
Yup..euro market will to the tale before we open
..Just another brick in the wall...
Believe so