Among the companies with shares expected to actively trade in
Monday's session are Agios Pharmaceuticals Inc. (AGIO), Questcor
Pharmaceuticals Inc. (QCOR) and Vocus Inc. (VOCS).
Agios, one of the many young biotechs to go public over the last
year, reported encouraging early-stage study data this weekend for
its experimental blood cancer drug. Some six out of seven patients
saw their tumors shrink after taking the drug, including three
patients whose disease went into complete remission. Shares climbed
24% to $44.01 premarket.
MannKind Corp. (MNKD) is giving back some of last week's gains
as the company says the FDA is extending the period it can review a
key diabetes drug by three months to July 15. Shares surged earlier
this month after a surprisingly strong vote by an FDA advisory
panel in favor of its Afrezza inhaled insulin for Type 1 and Type 2
diabetes. A three-month delay in the review is seen as standard,
but shares still decline 11% to $6.11 premarket.
Mallinckrodt PLC (MNK) agreed to buy Questcor for about $5.6
billion in cash and stock, a deal expected to expand the scale and
diversification of the specialty pharmaceutical company.
Ireland-based Mallinckrodt would gain Questcor's H.P. Acthar gel,
an injectable drug that has U.S. Food and Drug Administration
approval for 19 indications, many related to autoimmune and
inflammatory conditions. Questcor surged 25% to $84.70, while
Mallinckrodt edged up 1% to $63.17.
Vocus agreed to be acquired by GTCR Valor Cos. in a deal valued
at roughly $447 million that would take private the provider of
cloud-based marketing and public relations software. Shares surged
47% to $17.95.
Watch List:
AOL Inc. (AOL) said its chief technology officer, Curtis Brown,
will depart in July, after holding the position for about two
years. Mr. Brown is leaving to pursue other opportunities,
following a transition period that ends July 1, AOL said in a
regulatory filing.
Gilead Sciences Inc. (GILD) on Monday said the Food and Drug
Administration has placed the company's new drug application for a
hepatitis C treatment under priority review. Gilead said it expects
the FDA's decision on the ledipasvir-sofosbuvir combination by Oct.
10.
NetApp Inc. (NTAP) said Monday that Chief Executive Tom Georgens
has been elected chairman as Dan Warmenhoven retires from the
position. Mr. Warmenhoven was previously chief executive of the
data-storage company from 2005 to 2009 and president and chief
executive from 1994 to 2005.
Write to Lauren Pollock at lauren.pollock@wsj.com
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