New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 6, 2014
08:09 EDTALNY, MRKAlnylam announces closing of previously announces acquisition of Merck unit
Alnylam (ALNY) announced that the previously announced acquisition of Merckís (MRK) wholly owned subsidiary, Sirna Therapeutics, has closed, following the expiration of the Hart-Scott-Rodino waiting period. On January 10, Alnylam entered into a stock purchase agreement with Merck pursuant to which Alnylam agreed to purchase from Merck all of Merckís rights, title, and interest in and to all of the outstanding shares of common stock of Sirna Therapeutics. In consideration for the Sirna common stock, Alnylam paid Merck $25M in cash. In addition, Alnylam agreed to issue to Merck 2,520,044 shares of Alnylam common stock, having a value of $150M as calculated under the terms of the stock purchase agreement on the date of execution, and representing an approximately 3% ownership position in Alnylamís outstanding common stock. Alnylam issued 85% of the shares at the closing and will issue the remainder of shares upon the completion of certain technology transfer activities pursuant to the terms of the stock purchase agreement.
News For ALNY;MRK From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 22, 2014
07:35 EDTMRKCardiometabolic Health Congress to hold annual meeting
Subscribe for More Information
October 21, 2014
09:48 EDTALNYShire could target BioMarin, TheStreet's Feuerstein says
Subscribe for More Information
October 20, 2014
08:06 EDTMRKMerck, Sanofi unit announce pediatric hexavalent vaccine BLA
Subscribe for More Information
07:34 EDTMRKAdvaxis names Mauro Chief Medical Officer
Advaxis (ADXS) announced that it has appointed David Mauro, as executive vice president, Chief Medical Officer Mauro most recently served as executive director, section head oncology clinical development at Merck (MRK). In connection with his appointment, Mauro received a one-time inducement award of 165K restricted shares, of which 55K are fully vested and as of the grant date. The remaining shares vest annually over a two-year period.
07:19 EDTMRKIBC Life Sciences to hold a conference
Subscribe for More Information
07:11 EDTMRKAmerican Society for Reproductive Medicine to hold annual meeting
2014 Annual Meeting of ASRM is being held in Honolulu on October 18-22.
October 17, 2014
07:58 EDTMRKDeutsche Bank specialty pharma analyst holds analyst/industry conference call
Specialty Pharmaceuticals Analyst Gilbert provides of preview of The Improved Reduction of Outcomes: Vytorin Efficacy Internal Study (IMPROVE-IT) on an Analyst/Industry conference call to be held on October 17 at 10 am.
October 15, 2014
12:42 EDTMRKNY AG announces $31M Medicaid settlement with Organon
Subscribe for More Information
09:57 EDTALNY, MRKLeerink biotech analysts hold an analyst/industry conference call
Subscribe for More Information
October 14, 2014
11:23 EDTMRKBIND Therapeutics and The Conference Forum hold a conference
Subscribe for More Information
08:04 EDTALNYAlnylam presents new ALN-TTRsc Phase 1 trial data
Subscribe for More Information
05:40 EDTALNYTekmira partner Alnylam reports positive clinical data for Patisiran study
Tekmira Pharmaceuticals (TKMR) reported that Alnylam Pharmaceuticals (ALNY) presented six-month clinical data for the ongoing Patisiran Phase II Open Label Extension, or OLE, study in patients with Familial Amyloidotic Polyneuropathy, or FAP. Patisiran is an RNAi therapeutic targeting transthyretin, or TTR, in development for the treatment of TTR-mediated amyloidosis, or ATTR, which is enabled by Tekmira's lipid nanoparticle, or LNP, technology. Alnylam presented data at the American Neurological Association's 2014 Annual Meeting. Results showed a mean 0.95 point decrease in modified Neuropathy Impairment Score at six months in 19 patients with mNIS+7 data available for the current analysis. This decrease in neuropathy progression compares favorably with the 7 to 10 point increase in mNIS+7 at six months that can be estimated from historical data sets in untreated FAP patients with similar baseline characteristics.
October 13, 2014
16:28 EDTALNYOn The Fly: Closing Wrap
Stocks on Wall Street spent most of today's quiet session see-sawing across the flat-line before dropping sharply in the final hour of trading and closing at their lows. The market opened in negative territory but soon made a move to the upside and appeared ready to break the recent market slide that has seen the S&P lose about 5% of its value. Before the averages gained significant steam, they reversed again and moved back into negative ground. The averages moved in a fairly narrow range for most of the afternoon, before accelerating to the downside with conviction in the final hour of trading. ECONOMIC EVENTS: In the U.S., no economic data of note was reported and banks and bond markets were closed in observance of the Columbus Day holiday. In China, the nation's customs administration reported a trade surplus of about $31B for September. Exports in the month increased 15.3% from a year earlier, beating expectations and making for the biggest monthly increase since February 2013. Imports rose 7%, significantly outpacing the consensus projection for a 2% decline. COMPANY NEWS: The Wall Street Journal reported that CSX (CSX) was approached by a larger rival, Canadian Pacific (CP), about a possible merger. However, Credit Suisse analyst Allison Landry wrote in a note to investors that a merger between the two would not be able to occur, due to high regulatory hurdles. Still, CSX rose $1.76, or 5.88%, to $31.70 following the Journal's report, while Canadian Pacific fell $4.40, or 2.32%, to $184.97... Shares of Fiat Chrysler Automobiles (FCAU) made their debut on the New York Stock Exchange and opened at $9 per share. The stock of the newly merged company closed trading down about 1% at $8.92... J.C. Penney (JCP) selected Marvin Ellison, who is currently executive vice president of stores at Home Depot (HD), to become its next CEO. The stock, which was also downgraded to Sell from Neutral at UBS this morning, spent much of the trading day in positive ground but moved lower late in the session and closed down 3c, or 0.42%, at $7.09. MAJOR MOVERS: Among the notable gainers was Alnylam (ALNY), which advanced $13.83, or 18.98%, to $86.68 after the company announced data from study of its treatment for patients with familial amyloidotic polyneuropathy and Piper Jaffray raised its price target on the stock to $133 from $101 citing the trial results. Among the noteworthy losers was AutoNation (AN), which fell $4.11, or 8.01%, to $47.21 after another company in the same sector, Lithia Motors (LAD), lowered its profit outlook for the third and fourth quarter and issued a lower than expected earnings forecast for fiscal 2015. Shares of Lithia, meanwhile, plunged $16.85, or 20.84%, to $64.01. Also lower were shares of GoPro (GPRO), which fell $8.38, or 9.85%, to $76.67 after a French journalist reported that the son of racing legend Michael Schumacher attributed the severity of his father's brain injury following a skiing accident on the GoPro camera mounted to his helmet. INDEXES: The Dow fell 223.03, or 1.35%, to 16,321.07, the Nasdaq dropped 62.58, or 1.46%, to 4,213.66, and the S&P 500 declined 31.39, or 1.65%, to 1,874.74.
09:44 EDTALNYAlnylam price target raised to $133 on positive Ph. 2 results at Piper Jaffray
Piper Jaffray raised Alnylam's price target to $133 from $101 following positive Phase 2 open-label extension study with patisiran in patients with familial amyloidotic polyneuropathy.
07:37 EDTMRKAmerican Society of Anesthesiologists to hold annual meeting
Subscribe for More Information
07:33 EDTALNYAmerican Neurological Association to hold annual meeting
ANA 2014: 139th Annual Meeting is being held in Baltimore on October 12-14.
07:12 EDTALNYOligonucleotide Therapeutics Society to hold annual meeting
Subscribe for More Information
06:44 EDTALNYAlnylam to host conference call
Subscribe for More Information
06:04 EDTALNYAlnylam's patisiran for polyneuropathy shows positive Phase 2 results
Subscribe for More Information
October 9, 2014
08:32 EDTMRKMerck HCV solutions becoming more credible, says Bernstein
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use