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Stock Market & Financial Investment News

News Breaks
January 31, 2013
13:26 EDTAGN, SPPISpectrum regaining rights to bladder cancer drug not a positive, The Street says
Allergan (AGN) returning the rights to bladder cancer drug apaziquone back to Spectrum Pharmaceuticals (SPPI) is not a positive for Spectrum, contends The Street's Adam Feuerstein. Feuerstein says that Spectrum will need to conduct an additional phase III study of the drug and that the company is going to file for FDA approval based on two, separate studies that each failed to hit their primary endpoints with statistical significance. The Fly notes that Spectrum shares are up about 6.9% to $12.75 in early afternoon trading. Reference Link
News For SPPI;AGN From The Last 14 Days
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February 23, 2015
09:25 EDTSPPIOn The Fly: Pre-market Movers
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08:44 EDTSPPIRoth Capital downgraded Spectrum on court case loss
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07:16 EDTSPPISpectrum pullback a 'table-pounding' buying opportunity, says H.C. Wainwright
H.C. Wainwright calls the sell-off in shares of Spectrum Pharmaceuticals (SPPI) after a District Court in Nevada ruled that the levoleucovorin formulation used by Sandoz does not infringe the company's Fusilev intellectual property as a "table-pounding" buying opportunity. The firm reminds investors that Fusilev is still protected by orphan drug exclusivity until 2018 as a treatment for patients with colorectal cancer. It keeps a Buy rating on Spectrum with a $15 price target.
07:14 EDTSPPISpectrum says plans to appeal patent suit loss to Novartis unit
Spectrum Pharmaceuticals (SPPI) confirmed in a regulatory filing that on February 20, the U.S. District Court for the District of Nevada ordered that judgment be entered in favor of defendant Sandoz in the matter entitled Spectrum Pharmaceuticals, Inc. et al v. Sandoz Inc. "Spectrum Pharmaceuticals Inc. intends to appeal this decision and the ultimate outcome of this litigation remains uncertain," the company stated. Sandoz is the generic pharmaceuticals division of Novartis (NVS).
06:08 EDTSPPISpectrum downgraded to Neutral from Buy at Roth Capital
February 20, 2015
17:48 EDTSPPISpectrum awards 2014 cash performance awards to C-level executives
On February 18, the compensation committee of the board of Spectrum Pharmaceuticals determined that the company materially accomplished substantially all major goals established at the outset of 2014. Based on an assessment of the company’s performance, the committee determined cash performance awards for its CEO, Rajesh Shrotriya, who got a salary increase of 5.0% and a $900,000 cash bonus; its COO, Joseph Turgeon, who got a 4.5% raise and a $330,000 bonus; its CFO, Kurt A. Gustafson, who got a 4.4% raise and a $225,000 bonus; and its Chief Medical Officer, Lee F. Allen, who got a 3.4% raise and a $270,000 bonus. The Fly notes that Spectrum's stock is down 30% in after-hours trading after a Bloomberg report that the company had its Fusilev patent ruled invalid by a Nevada court.
16:37 EDTSPPISpectrum down 34% after Fusilev patent reportedly ruled invalid
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16:36 EDTSPPISpectrum Fusilev patent ruled invalid by court, Bloomberg reports
07:08 EDTAGNAmerican Academy of Allergy, Asthma and Immunology to hold annual meeting
2015 Annual Meeting of AAAAI is being held in Houston, Texas on February 20-24.
February 19, 2015
07:40 EDTAGNActavis price target raised to $352 from $300 at Canaccord
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February 18, 2015
16:46 EDTAGNOn The Fly: Closing Wrap
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12:31 EDTAGNOn The Fly: Midday Wrap
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09:48 EDTAGNActavis Q4 'exceptional,' taking Allergan name 'wise,' says BMO Capital
BMO Capital says Actavis (ACT) is "firing on all cylinders" after reporting "exceptional" Q4 earnings on the strength of the company's North American Generics and International segment. BMO views the decision to adopt the Allergan (AGN) name as "wise" given the Botox maker's strong reputation. The firm keeps an Outperform rating on Actavis.
07:50 EDTAGNActavis CEO says company gave appropriate guidance to analysts
Actavis (ACT) CEO Saunders said he believes that the company did provide appropriate guidance to analysts ahead of its earnings beat. Saunders sees the Allergan (AGN) deal closing by the end of this quarter or early next quarter. Saunders says tying R&D to a percentage of revenue "makes no sense to me," noting that Actavis will spend about $1.7B on R&D next year. Saunders says will do acquisition if opportunity arises, but not planning for M&A right now. Actavis CEO Brent Saunders is speaking on CNBC.
07:01 EDTAGNActavis announces intention to adopt 'Allergan' corporate name
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06:34 EDTAGNActavis sees Allergan transaction completed in late Q1 or early Q2
February 17, 2015
18:06 EDTAGNPaulson & Co gives quarterly update on stakes
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17:18 EDTAGNPershing Square gives quarterly update on stakes
NEW STAKES: Restaurant Brands International (QSR). INCREASED STAKES: Zoetis (ZTS), and Platform Specialty Products (PAH). DECREASED STAKES: Allergan (AGN). LIQUIDATED STAKES: None.
17:02 EDTAGNSoros Fund Management gives quarterly update on stakes
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13:52 EDTAGNEarnings Preview: Actavis near 52-week high ahead of Q4 earnings report
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