Wednesday, September 22, 2010

Day Trader's Alert: VICL, DSCO, PMCS

Vical Inc. (NASDAQ: VICL) tumbled as much as 40% after partner Sanofi-Aventis (NYSE: SNY) announced that late stage trials of NV1FGF failed to meet its goal of preventing limb amputation or deaths in patients with limb ischemia. Vical licensed the technology behind the drug to the French drugmaker 10 years ago.

Discovery Laboratories, Inc. (NASDAQ: DSCO) rallied more than 4% after it announced that new data from a pre-clinical study regarding Surfaxin(R) (lucinactant) was recently published in Pediatric Research. The study was conducted at Loma Linda University using the preterm lamb model which is recognized by the neonatal academic community as a well-established pre-clinical model of human respiratory distress syndrome. The results of the study demonstrate that lung function following Surfaxin exposure compares favorably to Curosurf, an animal-derived and current market leading surfactant, when administered to surfactant-deficient preterm lambs. Additionally, pulmonary distribution of surfactant was significantly improved with Surfaxin when compared with that of Curosurf in this study.

PMC-Sierra Inc (NASDAQ: PMCS) plummeted more than 6% on wednesday after the chipmaker slashed its revenue outlook for the third quarter of 2010. The company now expects its net revenues in the third quarter ending September 26, 2010, to be in the range of $161 million to $163 million. The company's previous outlook for third quarter net revenues announced during the July 22, 2010 earnings conference call was a revenue range of $169 million to $177 million.

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