2.25%QQQQ 33.82 3.73%XLF 16.95 
4.12%
Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
NEW YORK - PDL BioPharma shares are surging after the company said it will split up, spinning off its biotechnology assets into a new company and paying a $4.25 dividend to shareholders.
| PDLI | 9.06 |  0.96 |
The remaining company will develop a number of antibodies in PDL's pipeline, including aclizumab, which is being tested as a treatment for multiple sclerosis, volociximab, being tested against solid tumors, and multiple myeloma treatment candidate HuLuc63.
PDL BioPharma Inc. stock gained $2.01, or 17.2 percent, to $13.72 in afternoon trading.
Susquehanna analyst Jason Kolbert said the original PDL will maintain its debts, leaving the new company in a stronger financial position. The biotechnology company will also be able to collect royalty and license payments for its heart drug Cardene and drug candidate ularitide.
A former North Country assemblyman, who served 20 years in Legislature and a current member of the New York State Parole Board, is facing child p...
Joey Chestnut set a new fast-eating record when he ate 45 pizza slices in 10 min...
Oil prices rebounded from a 13-month low to rise above $81 a barrel Monday in As...
|
Get your next web design project done with our los angeles web design team - Best web design with great price.
|
Partners   
|
© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives
EMAIL
PRINT
RSS
SHARE
