Monday, September 13, 2010

Day Trader's Alert: GTSI, OXGN, DYP

Eyak Technology, LLC (EyakTek) announced today that it has again made a proposal to the board of directors of GTSI Corp. (NASDAQ: GTSI)  to acquire by merger all of the outstanding capital stock of GTSI at a price of $7.00 per share in cash. The proposal represents a premium of 35.1% over GTSI's closing market price on September 10, 2010 of $5.18 and a premium of 34.6% over the average closing price for the preceding 30 trading days. The proposal, which was initially made on August 13, 2010, was reiterated in a letter sent by EyakTek today to GTSI's board of directors (which letter is included at the end of this press release) after several unsuccessful attempts to engage GTSI in substantive negotiations. GTSI rejected EyakTek's proposal in a letter dated August 30, 2010. EyakTek intends, following the acquisition, to operate GTSI on a standalone basis, in order to preserve and capitalize on its strong brand name and industry recognition.  Shares of GTSI soared as much as 35% in pre market trading.

Shares of OXiGENE, (NASDAQ: OXGN) soared as much as 22% after it announced that positive results from a randomized, controlled, Phase 2/3 study of ZYBRESTAT (fosbretabulin, CA4P) were presented today at the 14th International Thyroid Congress in Paris, France by Rossella Elisei, M.D., of the University of Pisa. In this 80-patient study, the median overall survival (OS) time was 5.1 months for patients who received ZYBRESTAT and chemotherapy when compared with a median survival time of 4.1 months for patients receiving chemotherapy alone (Hazard Ratio 0.71), which represents a 29% reduction in the risk of dying for patients receiving ZYBRESTAT and chemotherapy. Of patients treated with ZYBRESTAT and chemotherapy, 48% were alive at six months, compared with 37% percent of patients treated with the control arm regimen. At one year, 23% of patients treated with ZYBRESTAT and chemotherapy were alive compared to 9% of patients treated with chemotherapy alone. The most common side effects reported with ZYBRESTAT and chemotherapy were neutropenia, transient hypertension and tumor pain.

Shares of Duoyuan Printing, Inc. (NYSE: DYP) slumped as much as 50% after it announced today several management changes as well as the dismissal of Deloitte Touche Tohmatsu CPA Ltd. ("Deloitte") as its independent registered public accounting firm. The Company is currently in discussion with an auditing firm to replace Deloitte. Effective immediately, Mr. Xiqing Diao has been appointed Duoyuan Printing's CEO. Previously the Company's COO, Mr. Diao has been with the Company since 2005 and served as interim CEO in 2009. Ms. Baiyun Sun has been appointed CFO. Ms. Sun has been with Duoyuan Printing since 1994 previously serving as the Company's controller. Mr. Wenzhong Liu, previously vice president of sales and marketing, has been appointed COO and Mr. Lianjun Cai, a Company director, has been appointed chairman of the audit committee.

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