Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) has received a tentative approval letter from the FDA for Trokendi XR, which is a once-daily extended release formulation of topiramate, formerly known as SPN-538. The letter states that no further clinical trials are needed, following the agency having completed its evaluation of the Trokendi XR NDA. However, final approval is pending the settlement of a marketing exclusivity issue regarding a specific pediatric population. At the same time, the FDA rejected the Citizen’s Petition filed in 2011 by Upsher Smith Laboratories, since it relates to its NDA on Trokendi XR. SUPN shares closed up a whopping 114.19 percent on the day (no typo), at $12.23, having traded in a range of $4.30 to $7.01 in the last 52 weeks.
Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) is placed on Stifel Nicolaus’s Select List, following the positive results of the Phase 2b trial of the firm’s LX4211 drug for Type 2 diabetes. Stifel is also confident over the remainder of the company’s wholly-owned pipeline, while raising its price target on the shares from $3 to $4, and also kept a Buy rating. Shares closed Tuesday at $2.26, which is up 15.9 percent on the day, having been traded between 81 cents and $2.06 during the past 52 weeks.
Southern Community Financial Co (NASDAQ:SCMF) shares closed up 14.23 percent, at $3.05, having been traded in a 52-week range between $1.00 and $2.85.
Apollo Group, Inc. (NASDAQ:APOL) brought its sector some good news with its large earnings beat for its third fiscal quarter, amid political scrutiny and contiuning enrollment pressure. Accordingly, shares closed up 10.29 percent on the day at $35.81, having traded during the last 52 weeks between $30.93 and $58.29.
News Corporation (NASDAQ:NWSA) is mulling the separation of its publishing assets from its entertainment businesses, which would result in two companies. Shares closed at $21.76, which represents a rise of 8.37 percent on the day, having been traded during the past 52 weeks between $13.38 and $20.70.
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