Biomedical products company Cerus Corporation (NASDAQ:CERS) announced that Swissmedic, the Swiss regulatory body, has approved the use of platelet components treated with the company's INTERCEPT Blood System. Shares rocketed over 69% higher Wednesday morning, on the news.
NewStar Financial, Inc. (NASDAQ:NEWS) announced it has terminated its agreement to acquire Southern Commerce Bank. CEO Timothy Conway said it became increasingly unlikely that regulatory approval would be granted on terms that would have allowed the combined company to restructure its balance sheet. Conway said NewStar will now focus on alternative approaches to acquiring a commercial bank. Shares jumped over 12 and a half percent in early trading Wednesday.
And shares of Popular, Inc. (NASDAQ:BPOP) gained over 19%, after the company announced the price and exchange ratios in connection with its previously announced exchange offer which expires tomorrow at midnight. The company said it does not expect the expiration date to be extended further. Dealer managers for the Exchange Offer include UBS Investment Bank (NYSE:UBS) and Citi (NYSE:C).
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