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Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) shares closed down 29.84 percent on more than 14 million shares traded on Wednesday. The stock fell as much as 24% after fourth-quarter earnings results were released after the bell yesterday. For the quarter, Avanir reported net revenue of $21.7 million, which includes $20.2 million in net sales of Nuedexta, a drug for treatment of pseudobulbar affect. The remainder of revenue came from Abreva royalties. Overall, results were positive but research firm Mizuho downgraded the company to neutral from buy.
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Makism 3D Corp., Inc. (OTCBB: MDDD) shares closed up 47.98 percent on Wednesday with nearly 8 million shares traded. The stock was one of the biggest gainers in the OTCBB market. The company offered an update of current operational activities. Regarding plans for upcoming production efforts in Q1 2014, the Company has entered into final stage negotiations with a number of key component manufacturers in the UK.
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International Stem Cell Corporation (OTC: ISCO) shares closed up 23.08 percent on Wednesday with a little over 3 million shares traded. The stock was one of the biggest gainers in the OTC market. The California-based biotechnology company announced that it has entered into a purchase agreement with Lincoln Park Capital Fund, LLC ("LPC"), a Chicago-based institutional investor, whereby LPC has committed to invest up to $10.25 million of their common stock over a 36 month term.
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ReneSola Ltd. (NYSE: SOL) shares closed down 11.61 percent on about 6.1 million shares traded on Wednesday. The stock had one of the biggest percentage drops on the NYSE. The company announced earlier this week it will deliver 6.8MW of its high efficiency Virtus II 72-cell 300W polycrystalline photovoltaic (PV) modules to one of California's leading project developers, Pristine Sun.
Get more information on ReneSola Ltd. and free access to the in-depth equity report at: www.TrendingWallStreet.com/stockquote/SOL
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