Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN: 28.28, 3.61) and partner Bayer HealthCare announced Monday that in two parallel Phase 3 studies in patients with the neovascular form of age-related macular degeneration, all regimens of VEGF Trap-Eye, including VEGF Trap-Eye dosed every two months, successfully met the primary endpoint compared to the current standard of care, ranibizumab dosed every month. The primary endpoint was statistical non-inferiority in the proportion of patients who maintained (or improved) vision over 52 weeks compared to ranibizumab.Regeneron Pharmaceuticals
Shares of Tesoro Corporation (NYSE: TSO: 15.72, 0.54) rallied more than 4% after Morgan Stanley upgraded its rating on the company to Overweight from Equal Weight and lifted its their price target to $21 from $15.
Humana Inc. (NYSE: HUM: 57.69, 1.66) rose more than 4% after the company announced that it has signed a definitive agreement to purchase Concentra Inc., a privately held health care company based in Addison, Texas, for approximately $790 million in cash.
OraSure Technologies, Inc. (NASDAQ: OSUR: 4.86, 0.37) surged more than 8% after the company announced that the U.S. Food and Drug Administration has granted an investigational device exemption for the Company to conduct the final phase of clinical testing for FDA approval of its OraQuick Rapid HIV-1/2 Antibody Test for sale in the consumer or over-the-counter market. Receipt of the IDE allows the Company to proceed with the final phase of clinical testing which consists of a study in which individuals will conduct unsupervised self-testing using the investigational OTC version of the OraQuick(R) HIV test with an oral fluid collection.
Magal Security Systems, Ltd. (NASDAQ: MAGS: 3.1, 0.045) climbed more than 7% after the company announced that it received a formal notification from the Port Authority of an African country that it has won a tender to secure the main seaport of the country. The total value of the project is estimated to be $21.4 million, with a targeted completion date within two years after receipt of the formal order.
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