Tag - Rgen

Orexigen Therapeutics Inc. (Nasdaq:OREX), Repligen Corp. (Nasdaq:RGEN) and Affymetrix Inc. (Nasdaq:AFFX) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Seattle Genetics (Nasdaq:SGEN), Bankrate Inc. (Nasdaq:RATE), TriQuint Semiconductor Inc. (Nasdaq:TQNT), PDL BioPharma Inc. (Nasdaq:PDLI), Volterra Semiconductor Corp. (Nasdaq:VLTR) and ClickSoftware Technologies Ltd. (Nasdaq:CKSW).

Biopharmaceutical company Repligen Corp. (Nasdaq:RGEN) said this morning that it will repurchase of up to 1.25 million shares of its common stock, stating that the program “reflects the confidence it has in its business.”

Shares were halted in pre-market trading. For detailed price information and recent news stories about Repligen, click RGEN.

Pomeroy IT Solutions, Inc. (Nasdaq:PMRY), Origin Agritech Ltd. (Nasdaq:SEED) and Repligen Corp. (Nasdaq:RGEN) are among the most actively traded companies in Wednesday's pre-market trading among those with market capitalizations under $750 million.

Hoku Scientific, Inc. (Nasdaq:HOKU), China Sunergy Co., Ltd. (Nasdaq:CSUN) and DRDGOLD Ltd. (Nasdaq:DROOY) are also among the most actively traded small-cap companies in pre-market trading.

Here are the most actively traded small-cap companies in Wednesday's pre-market trading:

Shares of Repligen Corp. (Nasdaq:RGEN) rocketed in pre-market trading after the biopharmaceutical company said that it settled a patent infringement lawsuit with Bristol-Myers Squibb Co. (NYSE:BMY) over Bristol-Myers’ sale of Orencia for the treatment of rheumatoid arthritis.

Shares spiked 30.9%, or $1.74, to $7.20 in pre-market trading. For detailed price information and recent news stories about Repligen, click RGEN.

The Russell 2000 (NYSE:IWM) futures are down and the small-cap index will open in negative territory.

Small-cap stocks are poised for a bearish opening on news that aluminum producer Alcoa Inc. (NYSE:AA) saw its first-quarter profit decline more than expected. Investors are fearful that the economic slowdown will negatively affect corporate earnings.

The Russell 2000 had another oddly quiet, rangebound session Monday, but again stalled on the 720 area, setting up that point as important short-term resistance. The index dipped 1.05, or 0.15%, to 712.68. Today, key resistance lurks at the aforementioned 720, then again near 725 and 731. Meanwhile, support is pegged at 705.50, then at 700 and 694.

The release this afternoon of the FOMC minutes could serve up some volatility.  Normally, the minutes alone wouldn’t justify expectations for a big stock market move, but the release takes on a little more significance this week because the data slate is tame.

Repligen Corp. (Nasdaq: RGEN)
Waltham, MA
http://www.repligen.com

52-week low / high: $2.64/$5.03
Shares Outstanding: 30.62 million
Market Capitalization: $132.89 million

If cash is king, Repligen Corp. (Nasdaq: RGEN) is royalty. As of Sept. 30 the biopharmaceutical company’s coffers comprised $62.7 million in cash and cash equivalents, up from $22.7 million on March 31, 2007. 

The small cap, which develops therapeutics for the treatment of central nervous system diseases, swung to a profit in its second fiscal quarter of 2008, ended Sept. 30. Net income for the three months was a whopping $40.3 million, or $1.29 per share, compared with a net loss of $0.86 million, or $0.03 per share, for the second quarter of 2007.

Granted, the company got a little help this quarter when it clocked a gain of $40.2 million on account of a lawsuit settlement with ImClone Systems. Repligen, along with the Massacheusettes Institute of Technology (MIT) sued Imclone in 2004 for patent infringement against ImClone regarding the manufacture and sale of Erbitux. The patent is assigned to MIT and exclusively licensed to Repligen.

But minus the one-time gain from the lawsuit settlement, the company is still on track, as it would have broken even at the bottom-line.

Total revenue surged a healthy 87% in the quarter to $5.35 million, compared with $2.87 million for the second quarter of fiscal year 2007, driven by the company’s Protein A product, which is used in the production of monoclonal antibodies (proteins found in blood or other bodily fluids used by the immune system to identify and mitigate bacteria and viruses).

For the past four quarters, Repligen has blown away analysts’ expectations consistently; surprising by 13,200% in its most recent quarter and by 133% on average for the prior three quarters.

Cash flow from operations has been positive for the past two years. The company has incrementally increased its cash position on the balance sheet over the last three years and substantially bolstered its position in its most recent quarter. 

Repligen’s cushy cash position should allow the company to invest in its CTLA4 intellectual property, Protein A business and product pipeline without the financial risks normally associated with a clinical stage biotechnology company.

With litigation in the rear view mirror, cash in its coffers and promising product lines that are already starting to materialize, this little biopharmaceutical company is poised for take off.

Note: Repligen Corp. (Nasdaq: RGEN) is on the “Watch List” of Rising Star Stocks, a subscription investment newsletter from Business Financial Publishing, which also publishes SmallCapInvestor.com. As a Watch List company, Repligen displays many characteristics found in successful stock winners, and is being closely monitored for possible inclusion in the Rising Star Stocks portfolio at a later date.

Shares of Vical Inc. (Nasdaq: VICL) are sagging despite news this morning that the San Diego-based pharmaceutical company has been awarded a three-year, $6 million grant from the National Institute of Allergy and Infectious Diseases (NIAID) for a DNA vaccine manufacturing process.  Shares are down $0.05, or 1%, to $4.95.

Shares of Repligen Corp. (Nasdaq: RGEN) are trading higher following news this morning that the Waltham, Mass.-based pharmaceutical company has received a favorable ruling from the U.S. District Court for the District of Massachusetts on a patent infringement lawsuit involving ImClone Systems Inc. (Nasdaq: IMCL).