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Today's Big Gainers: HEB, TNS, SKS, SVNT Friday, June 12, 2:31 PM ET
Hemispherx Biopharma (AMEX:HEB) announced today that its Japanese partner Biken Corporation, is investing 350 million dollars to expand its Flu vaccine production capabilities by more than five times its current manufacturing capacity. Within six months, Biken says it will be ready to manufacture Swine and Avian Flu vaccines for 60 million people. Hemispherx has pending intellectual property rights for experimental therapeutic Ampligen, which is an essential co-ingredient to the Biken vaccine. On Thursday, the World Health Organization raised the threat level of swine flu to its highest level. Hemispherx shares gained almost 9% in early morning trading on Friday.
Shares of Transaction Network Services (TNS) gained about 7% Friday morning; GE Capital helped provide a 230 million dollar term loan to support the acquisition of the Communication Services Group from VeriSign (NASDAQ:VRSN). TNS's CFO Dennis Randolph said the incremental capital has helped catapult the company's global competitive services offering to the next level.
Saks (SKS) got a boost this morning from Deutsche Bank; analyst Bill Dreher upgraded the stock to a buy with a 7 dollar price target, saying the company's strategies will increase its profit margin, and that the rebounding stock market should help confidence among upscale shoppers. Dreher noted that historically, the company's performance has been highly correlated to the stock market's performance. Saks shares gained over 15% in early trading Friday.
Shares of Savient Pharmaceuticals (SVNT) rocketed over 55% higher, after an FDA advisory committee released a memo saying that the company's proposed gout drug Krystexxa appears effective. However, the committee did express concerns that in the studies, more patients taking the drug had heart failure and allergic reactions. Nevertheless, the agency did not dispute the efficacy of Krystexxa and will now hold a public meeting on Tuesday to discuss whether to recommend the drug's approval.
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