The Food and Drug Administration announced on Tuesday that they are gathering information about the death of a child linked to Amgen’s thyroid drug Sensipar. Federal health regulators have halted Amgen's studies of Sensipar after the death of a 14-year-old patient who was participating in a company trial. Sensipar has been used since 2004 to treat symptoms of chronic kidney disease and parathyroid cancer. Though approved in adults to treat over-activity in the parathyroid gland, Amgen has been studying to see if it works on children also. Amgen shares closed down on Tuesday.
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Vitamin Shoppe, Inc. (NYSE: VSI) – VSI was one of the biggest decliners on the NYSE on Tuesday closing down 18.63%. Vitamin Shoppe, Inc. reported fourth-quarter profit that lagged behind analysts’ estimates, and also reported that the Company’s recent acquisition of Super Supplements Inc. will hurt earnings for 2013. The transaction of Super Supplements Inc. closed just this month. Fourth-quarter profit rose 2.8 percent to 32 cents a share, trailing behind the average of 14 analysts’ estimates compiled by Bloomberg at 40 cents. In a statement the Company announced that transaction and integration costs related to the $50 million acquisition of Super Supplements Inc. will reduce profit by 3 cents a share this year. Volume traded on Tuesday was at 4,269,644 shares, roughly fourteen times higher than the stock’s average of 298,366 shares.
MediciNova Inc. (Nasdaq: MNOV) – One of the most active stocks on the Nasdaq composite was MNOV yesterday, as it closed at 2.98, up 0.84 (or 39.25%). The move came after the Company announced that the U.S. Food and Drug Administration have granted Fast Track designation for MN-166 (ibudilast) for the treatment of methamphetamine dependence. Fast Track is a process designed to facilitate the development and expedite the review of drugs that are intended to treat serious diseases and have the potential to fill an unmet medical need. MediciNova acquires and develops novel, small-molecule therapeutics for the treatment of diseases with unmet need with a commercial focus on the U.S. market. At its intra-day high on Tuesday, shares of MNOV hit $3.669. The stock has a 52-week range of 1.29 - 3.95.
CommonWealth REIT (NYSE: CWH) – Shares of CWH gained 53.94% on Tuesday, making it one of the biggest gainers on the NYSE exchange. The Company hit a new 52-week high of $24.55 yesterday after Corvex Management and Related Fund Management announced that they've collectively acquired a 9.8% stake in CommonWealth REIT. The two funds have said that CWH shares are undervalued and could hit $50, representing a gain of more than 100% from Tuesday’s closing price. Investor Keith Meister and real estate major Related Cos said they were willing to buy the Company for $2.1 billion or more.CommonWealth REIT is a real estate investment trust launched and managed by Reit Management & Research LLC. The stock traded 34,204,909 shares yesterday, significantly higher than the stock’s average of 684,027 shares.
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