The top after-market NASDAQ Stock Market gainers are: SIGA Technologies, Sky-mobi, Northwest Bancshares, Shanda Games, and Cytori Therapeutics. The top after-market NASDAQ Stock Market losers are: Life Partners Holdings, Achillion Pharmaceuticals, China Recycling Energy, Zhongpin, and SciClone Pharmaceuticals.
SIGA Technologies, Inc. (SIGA) stock jumped 11.78 percent to $12.15 in the after-market trading. The company said the Biomedical Advanced Research and Development Authority of the United States Department of Health and Human Services (BARDA) has advised that the protest filed against the contract it awarded to SIGA for the sale of SIGA's smallpox antiviral ST-246 has been withdrawn following execution of a contract modification by BARDA. As a result, the stay on performance of the contract, originally awarded last month, has been lifted. The contract modification deletes the option for BARDA to buy up to 12 million courses of ST-246 beyond the 1.7 million courses to be purchased under the base contract. The base contract and the other options remain unchanged. The contract modification does not prevent BARDA from purchasing additional courses of ST-246 or other products in the future if it desires.
SIGA's drug, ST-246, is an oral therapeutic agent active against orthopoxviruses including smallpox. It is the only drug from any source ever to have demonstrated efficacy in non-human primate models of orthopox virus disease, which was a requirement of the request for proposal that resulted in the current contract. ST-246 will be the first entirely new small-molecule drug delivered to the Strategic National Stockpile under Project Bioshield. Smallpox, even though no longer present naturally in the environment, is considered a formidable bioterrorism threat, and there is currently no FDA-approved treatment for symptomatic individuals. ST-246 works by blocking the ability of the virus to spread to other cells, preventing it from causing disease. The FDA has designated ST-246 for fast-track status, creating a path for expedited FDA review and eventual regulatory approval.
Sky-mobi Ltd. (MOBI) stock grew 8.24 percent to $7.88 in the after-market trading.
Northwest Bancshares, Inc. (NWBI) stock gained 6.23 percent to $12.95 in the after-market trading. Standard & Poor's said Northwest Bancshares will replace AMERIGROUP Corp. (AGP) in the S&P SmallCap 600 index after the close of trading on July 1. AMERIGROUP will replace Nationwide Health Properties Inc. (NHP) in the S&P MidCap 400 index. Nationwide Health Properties is being acquired by S&P 500 constituent Ventas Inc. (VTR) in a deal expected to be completed on or about that date pending final approvals.
Shanda Games Ltd. (GAME) stock increased 4.61 percent to $6.36 in the after-market trading.
Cytori Therapeutics, Inc. (CYTX) stock rose 4.57 percent to $5.03 in the after-market trading.
Life Partners Holdings, Inc. (LPHI) stock slid 4.68 percent to $3.46 in the after-market trading.
Achillion Pharmaceuticals, Inc. (ACHN) stock declined 3.97 percent to $7.01 in the after-market trading. The company said the underwriters exercised their option to purchase an additional 1.44 million shares from Achillion in its previously announced underwritten public offering of common stock at a price to the public of $5.90 per share. The offering of 11.04 million shares of common stock, including the shares purchased upon exercise of the overallotment option, closed today. The net proceeds to Achillion from the sale of the shares of common stock, after deducting underwriting discounts and commissions and estimated offering expenses, are about $60.9 million. BofA Merrill Lynch and Leerink Swann LLC acted as joint book-running managers for the offering.
China Recycling Energy Corp. (CREG) stock decreased 3.29 percent to $2.07 in the after-market trading.
Zhongpin, Inc. (HOGS) stock declined 3.18 percent to $10.36 in the after-market trading.
SciClone Pharmaceuticals, Inc. (SCLN) stock decreased 3.04 percent to $5.89 in the after-market trading.