NEW YORK (
) -- Several small-cap pharmaceutical stocks were in the limelight on Monday morning, with good news from regulatory approvals to successful clinical trials boosting buying.
saw its shares skyrocket Monday morning after it announced late Friday that it had received regulatory approval to market its Gralise one-daily tablets for the treatment of post-herpetic neuralgia, also known as shingles. Gralise also received orphan drug status, which gives it seven years of marketing exclusivity.
Shares were soaring 30% to $8.13 on Monday morning.
announced Monday that it had seen
positive results from a pivotal phase III study of its experimental drug Gattex. Patients with short bowel syndrome were able to significantly reduce intravenous feeding following treatment. Shares were surging 25% to $9.49.
shares were rising 12% to $9.33 on expectations that it will receive a
regulatory approval for its obesity drug, Contrave.
were up 8.8% to $1.11 after it said that it will sell 19 of its branches under its Tampa-St.Petersburg franchise to
in order to focus on its primary footprint of 79 branches in South East Florida.
The stock of
International Coal Group
was rising on speculation that it will be the next takeover target after
Alpha Natural Resources
agreed to takeover
for $7.1 billion. Shares were up 3% at $9.14.
were up 3.6% to $1.26, recovering Friday's losses. The company recently announced better-than-expected same store sales of 1.1% in January.
--Written by Shanthi Bharatwaj in New York
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