BOSTON (TheStreet) -- Chelsea Therapeutics (CHTP) was one of several stocks poised to move on above-average volume Monday after the company posted positive clinical study results of its experimental drug to treat patients with neurogenic orthostatic hypotension.
Chelsea Therapeutics said Monday its experimental drug Northera was "both safe and very well tolerated," according to preliminary analyses of phase III trial data.
Treatment with Northera provided "clinically meaningful and statistically significant improvement" patients with neurogenic orthostatic hypotension, a disease characterized by a chronic drop in blood pressure upon standing, Chelsea said in a statement.
Shares of Chelsea Therapeutics were jumping by $1.89, or 37.4%, to $6.95 in the premarket session. The average daily share volume for Chelsea Therapeutics is 739,000.Elsewhere, L-1 Identity Solutions (ID) was rallying by $1.93, or 19.9%, to $11.63 in the premarket session after France's Safran purchased the company for $12 per share in a $1.1 billion deal. The average daily share volume for L-1 Identity is 1.66 million. Separately, BAE Systems will acquire L-1's intelligence services businesses for approximately $296 million in cash. RAE Systems (RAE) was poised to climb Monday after the chemical and radiation detection monitors maker said it will be acquired by an affiliate of Battery Ventures for $1.60 per share. The purchase price represents a premium of approximately 53.8% over RAE Systems' closing share price on Friday of $1.04. The average daily share volume for RAE Systems is 144,000. Lennar (LEN) rose by 84 cents, or 6%, to $14.83 in the premarket session after the homebuilder posted third-quarter earnings of 16 cents a share, swinging from a year-ago loss of 97 cents a share. Analysts forecasted a third-quarter profit of 5 cents a share. The average daily share volume for Lennar is 4.41 million. -- Written by Robert Holmes in Boston.
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