Vanda’s Sleep Aid for the Blind Nears FDA Approval and 2 Other Hot Stocks to Watch
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA): Current price $12.41
An FDA reviewer said Tuesday that Symantec’s experimental drug – to regulate the circadian rhythms of blind people and help them sleep — is expected to get confirmed by the agency. The medicine, tasimelteon, is effective at synchronizing the body with a 24-hour cycle, according to FDA staff in a report prior to a meeting of agency advisers set for Thursday. Shares of the drugmaker are up over 82 percent Tuesday in heavy trading, having more than doubled in the 12 months ended Monday. Vanda said that thus far, no approved treatments exist for the condition called non-24-hour disorder, which impacts some 95,000 totally blind people in the United States.
Bank of America Corp. (NYSE:BAC): Current price $14.39
Chief Executive Brian T. Moynihan commented during an investor conference sponsored by his company in New York that consumers in the United States are in “pretty good shape” and are spending more with credit cards after a slump earlier this year because of higher tax rates and the uncertainty of political gridlock. Moynihan is endeavoring to guide his bank towards a sustained rebound in profit, and will need to compensate for the sluggish demand from mortgage borrowers, and continuing legal claims linked with faulty home loans that have cost his Charlotte-based firm around $50 billion.
Symantec Corp. (NASDAQ: SYMC): Current price $22.69
On Tuesday, Symantec said that its President, Products, and Services Francis deSouza will exit the company on December 1 to become president of Illumina. Symantec’s products and services leadership team will now report to the President and Chief executive Steve Bennett, who said that, “Francis made a substantial impact during the seven years he was at Symantec, helping guide the development and restructuring of our product portfolio.”
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