Alexza Pharmaceuticals (ALXA Quote) was soaring some 51% Monday on positive initial results for its proposed schizophrenia treatment, AZ-004. The Palo Alto, Calif., drugmaker said AZ-004 met the phase IIa trial's primary endpoint, demonstrating a statistically significant reduction in patients' acute-agitation symptoms compared with placebo two hours after drug administration.
Alexza also announced that its migraine treatment, AZ-001, preliminarily met the primary endpoint of its phase IIb trial -- pain relief two hours after dosing. Shares were up $5.10, to $15.08, in recent trading.
Los Angeles-based Tarrant Apparel (TAGS Quote) swung to a fourth-quarter profit of $1.7 million, or 6 cents a share, from a year-ago loss of $1.5 million, or a nickel a share. Sales rose 15.5% year over year to $57.4 million. Shares were surging 26 cents, or 17%, to $1.81. ...
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