Thursday's Late Winners & Losers
Chordiant Software (CHRD) ranked among the winners in a generally upward-trending after-hours session Thursday.
Chordiant shares leapt nearly 16% after the software developer inked a contract worth some $26.5 million (a "record" 18.1 million euros), based on recent conversion rates, to "provide perpetual enterprise licenses and support" to an unnamed "leading telecommunications company." The agreement, which covers up to eighteen of the telecom firm's group companies or subsidiaries across four continents, will likely generate future orders or minimum payments for Chordiant through April 2009.
The Cupertino, Calif., company also projected below-par current-quarter results while reaffirming its fiscal 2008 guidance ranges, which cover the average analyst estimates on both top and bottom lines, per Thomson Financial. Chordiant shares were rising $1.28 to $9.40.
Elsewhere, Alexza Pharmaceuticals (ALXA) announced that Endo Pharmaceuticals (ENDP) will pay it $10 million up front under a license-and-development partnership covering AZ-003, a pain-treatment device that's currently in early-phase development.The device, which uses Alexza's Staccato system inhalation technology to deliver fentanyl, treats cancer and non-cancer patients for breakthrough pain (that which "breaks through" the normal course of medication). On top of the upfront fee, Alexza may get up to another $40 million in milestone payments. Shares of Palo Alto, Calif.-based Alexza were recently up 8.1% to $8.78 in light extended trading. Endo was flat at $6.90.
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