Tag - Pard

Labopharm Inc. (Nasdaq: DDSS) shares down sharply following an announcement at the closing bell Thursday that the Toronto, Canada-based pharmaceutical company has received a second approvable letter from the Food and Drug Administration regarding the pain relief drug Tramadol. The letter said that Labopharm has not demonstrated the efficacy of its once-daily formulation of Tramadol, because the statistical methods the company used to analyze data from its clinical trials “did not adequately address missing data relating to subjects who dropped out of the trials.” In a press release, the company said the FDA did not explain why the statistical methods were inadequate. Labopharm said it seeks to clarify the issue with the FDA as soon as possible.

Great Lakes Dredge & Dock Corp. (Nasdaq: GLDD) are up after a bullish mention Thursday evening by MSNBC pundit Jim Cramer. The Illinois, Ill.-based business provides dredging, marine construction and demolition services.

Shares in DexCom, Inc. (Nasdaq: DXCM) are up following the announcement after Thursday’s closing bell that the FDA approved its seven-day continuous glucose monitoring device for people with diabetes. The San Diego-based medical devices maker said it plans to launch the monitoring device – called Seven – by the end of the summer.

Phazar Corp. (Nasdaq: ANTP) shares are soaring following the announcement Thursday evening that the company’s Antenna Products unit received a $0.9 million order from the Spanish telecom company Page Iberica S.A. The Madrid-based company ordered four Multiport Antenna Systems. Phazar said the order will be shipped in October for installation at a Spanish NATO site.

The following are the most actively traded companies in Friday pre-market trading among those with market capitalizations under $500 million:

Shares of Poniard Pharmaceuticals Inc. (Nasdaq: PARD) climbed on heavy volume today after the South San Francisco, Calif..-based biotech firm announced a public offering of 10.3 million shares of its common stock at $6.33 a share.

Poniard is offering all of the shares. The underwriters have a 30-day option to purchase up to an additional 1,545,436 shares of common stock to cover over-allotments, if any.

CIBC World Markets Corp. and Lazard Capital Markets LLC are acting as joint book-running managers in the offering.

Pacific Growth Equities, LLC, Leerink Swann & Co., Inc. and Fortis Securities LLC are acting as co-managers.