Small Cap News Movers for 3/5/10

InterMune, Inc. (NASDAQ: ITMN) announced today that the U.S. Food and Drug Administration (FDA) has posted briefing documents for the March 9 Pulmonary-Allergy Drugs Advisory Committee (PADAC) meeting to review the New Drug Application (NDA) for pirfenidone, InterMune’s investigational drug candidate for the treatment of patients with idiopathic pulmonary fibrosis (IPF) to reduce decline in lung function. The proposed trade name for pirfenidone is Esbriet®. The stock closed at $23.28, up 59.34%, on 28,211,998 traded shares.

RCN Corporation (NASDAQ: RCNI) and ABRY Partners today announced their entry into a definitive agreement for an investment fund managed by ABRY to acquire RCN for total consideration of approximately $1.2 billion, including the assumption of debt. As part of this agreement, each share of RCN common stock issued and outstanding immediately prior to the effective time of the merger will be entitled to receive $15 in cash, representing a 43% premium over RCN’s average closing share price during the past 30 trading days. The stock closed at $15.15, up 23.57%, on 16,234,590 traded shares.

China LianDi Clean Technology Engineering Ltd. (OTCBB: RMSI) today announced financial results for the first nine months of fiscal year 2010, which ended December 31, 2009. Reported revenues were $45.6 million, an increase of 456% from the $8.2 million in reported revenue for same period of fiscal year 2009. Net income for the first nine months of fiscal 2010 totaled approximately $11.3 million compared to $0.8 million in the equivalent period in fiscal 2009. The stock closed at $6.40, up 68.42%, on 158,215 traded shares.

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