Questcor Pharmaceuticals (QCOR) announced that the FDA now considers the company as having provided complete response to all prior action letters for its supplemental New Drug Application for its infantile spasms treatment. Questcor shares were among the shortened holiday trading day's biggest gainers, up more than 20% on the day.
Turning to Thursday's biggest losers, General Steel Holdings (GSI) announced a 25 million dollar public offering. The company is selling just over 5.5 million units at 4 dollars and 50 cents per unit, with each unit containing one common share plus a warrant to purchase one half of an additional share at an exercise price of 5 dollars. Rodman & Renshaw (NYSE:RODM) acted as the lead placement agent for the transaction. Shares of General Steel plunged more than 19%.
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