Trimeris( TRMS) plummeted 19% in after-hours trading Wednesday after the Morrisville, N.C.-based biopharmaceutical company cut the sales forecast for its HIV treatment, Fuzeon, and said it will delay an application for a needle-free version of the drug.
Trimeris now expects Fuzeon's 2006 sales to total $126 million to $134 million, down from a prior forecast of $140 million to $150 million. The company still expects to turn a profit for the year.
Fuzeon, which Trimeris co-developed with Swiss giant
, is the first in a class of drugs called fusion inhibitors that work to block viral entry into host cells. Protease inhibitors, more common HIV drugs, block an enzyme needed for HIV's reproduction. Roche and Trimeris have been seeking to develop a needle-free injection device for Fuzeon, and the companies said Wednesday that the Food and Drug Administration indicated that certain adverse events related to the device require additional information.
The FDA has requested additional safety information on the nature and occurrence of injection-site reactions. Based on the response, Roche and Trimeris don't expect to file an application for the needle-free administration of Fuzeon until at least the first half of 2007. Shares were down $1.76 at $7.30.
advanced after the Trinity, N.C.-based mattress company reported a rise in third-quarter income. The company posted earnings of $29.4 million, or 30 cents a share, compared with $26.3 million, or 35 cents a share, a year ago. Sales increased 6.4% to $415.1 million. Analysts polled by Thomson First Call were looking for the company to post a profit of 30 cents a share on $410.4 million in sales. Shares were trading up 57 cents, or 4.2%, to $14.15.
slipped slightly after the Port Washington, N.Y.-based company, which makes and distributes PC hardware and related products, delayed release of its second-quarter results. The company said in a statement that it was "working diligently to complete the process necessary to report its second-quarter results" and would report them as soon as the process is completed. The company said in August that it anticipated reporting its second-quarter results in roughly six weeks. Shares were down about 30 cents, or 2%, at $14.74.
stumbled after the Atlanta-based company reported a drop in second-quarter earnings. The company posted income of $1.3 million, or 4 cents a share, compared with $1.5 million, or 6 cents a share, a year ago. Revenue climbed to $6.3 million, up from $3.7 million a year ago. Shares dropped 48 cents, or 7%, to $6.40.
( TMTA) surged after the microprocessor developer said it filed a lawsuit against
for infringement of 10 Transmeta U.S. patents covering computer architecture and power efficiency technologies.
The complaint, filed in the U.S. District Court in Delaware, charges that Intel has infringed and is infringing Transmeta's patents by making and selling a variety of microprocessor products, including at least Intel's Pentium III, Pentium 4, Pentium M, Core and Core 2 product lines. The complaint requests an injunction against Intel's continuing sales of infringing products, as well as monetary damages. Shares were climbing 16 cents, or 14.3%, to $1.28.