Theravance (THRX Quote) leapt 16% in after-hours trading Monday as the California-based biotech announced positive results in collaboration with GlaxoSmithKline (GSK Quote) from a phase IIb study of asthmatic patients.
Two proposed bronchodilator compounds -- one discovered by Theravance and the other by GlaxoSmith -- were both shown to induce "clinically significant increases in bronchodilation" (opening of the patients' airways) at least equal to the effects of salmeterol, an existing asthma treatment. Theravance shares were rising $4.75 to $34.75. GlaxoSmith was down 19 cents to $55 in recent late trading.
iRobot (IRBT Quote) gained on news of another $14 million order from the Naval Sea Systems Command for its PackBot bomb-disposing robots, part of which has already shipped. The order was placed under a pre-existing contract for up to $264 million in robots, spare parts and services good through 2012. Shares were gaining 91 cents, or 6.9%, to $14.10. ...
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