Geron Corp. (GERN)
Shares of GERN soared more than 20% in after-hours trading Wednesday as the company announced the publication of two papers in The New England Journal of Medicine in which GERN‘s telomerase inhibitor, imetelstat, was shown to have disease-modifying activity thought to be associated with selective inhibition of the malignant progenitor cell clones responsible for the underlying disease in two hematologic myeloid malignancies, essential thrombocythemia (ET) and myelofibrosis (MF).
GERN‘s imetelstat is a specially designed and modified short oligonucleotide, which targets and binds directly with high affinity to the active site of telomerase. It is administered by intravenous infusion
GERNis a clinical stage biopharmaceutical company focused on the collaborative development of a first-in-class telomerase inhibitor, imetelstat, in hematologic myeloid malignancies
More about Geron Corp. (GERN) atwww.geron.com.
Lannett Company, Inc. (LCI)
After the closing bell on Wednesday, LCI said that it will acquire Kremers Urban Pharmaceuticals Inc., the generic subsidiary of UCB in the United States, for $1.23 billion, plus potential contingency payments.
LCI believes the acquisition will be accretive to adjusted EPS in fiscal 2016 in the mid- to high-single digits and 20% to 25% in fiscal 2017, and the company expects to receive a significant tax benefit as a result of 338(h)(10) election with a value in excess of $100 million.
According to LCI, it is adding (with the acquisition) a highly profitable business and creating a specialty pharmaceuticals company that has substantial size, scale and reach.
LCIshares climbed over 15% following the announcement.
LCI develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of medical indications.
More about Lannett Company, Inc. (LCI) atwww.lannett.com.
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