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Progenics Pharmaceuticals, Inc. (NASDAQ: PGNX) shares sank 27.42 percent on Wednesday with about 7.8 million shares traded. The stock was one of the biggest decliners on the NASDAQ and had one of the largest volume advances. The big drop came after it was revealed that abstracts of its mid-stage study involving experimental prostate cancer antibody-drug conjugate, PSMA-ADC, revealed the death of two patients.
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Meritor, Inc. (NYSE: MTOR) shares closed up 9.55 percent on over 5.6 million shares traded on Wednesday. The stock had one of the biggest volume advances on the NYSE. The stock popped up after the company reported that its fiscal first-quarter earnings beat analysts' earnings estimates by 5 cents a share. Meritor posted earnings of 12 cents a share, beating the Capital IQ Consensus Estimate of 7 cents a share. The auto parts company posted a year-over-year revenue increase of 1.8% to $907 million; consensus estimates were $912.66 million.
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IntelGenx Technologies Corp. (OTC: IGXT) shares closed down 11.96 percent on Wednesday with about 4.8 million shares traded. The stock was one of the most active stocks in the OTC market and hit a new 52-week high of $1.09 during intra-day trading. Earlier this month the company announced that it has entered into another development and commercialization agreement with Par Pharmaceutical, Inc. for two new products utilizing IntelGenx' proprietary oral drug delivery platforms.
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Vringo, Inc. (NASDAQ: VRNG) shares closed up 20.65 percent on Wednesday with nearly 46 million shares traded. The stock hit a new 52-week high of $5.45 during intra-day trading. VRNG was one of the biggest gainers on the NASDAQ. The big move came after the company announced another favorable court ruling related to the infringement of its patents by the AdWords system used by AOL and Google.
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