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Littelfuse, Inc (Nasdaq: LFUS) $31.56. Today announced revised guidance for the second quarter of 2010 as follows: Sales for the second quarter of 2010 are now expected to be in the range of $155 to $160 million, which represents sequential growth of 7% to 11%. Previous guidance called for sales in the range of $148 to $153 million. Earnings for the second quarter of 2010 are expected to be in the range of $0.78 to $0.88 per diluted share. Previous guidance called for earnings in the range of $0.69 to $0.77 per diluted share.
What They Do: Littelfuse is the worldwide leader in circuit protection, offering the industry’s broadest and deepest portfolio of circuit protection products and solutions.
Repros Therapeutics (Nasdaq: RPRX) $0.48. Today announced it has received written confirmation from the FDA noting the full clinical hold on Proellex® has been lifted. The Company will be allowed to run a single study under the new partial clinical hold status. The new low dose study is designed to explore both safety and signals of efficacy in an escalating dose fashion.
The new study will test 5 different doses of Proellex (1, 3, 6, 9 and 12 mg) with 1 mg being the first dose tested. Each dose will be compared to placebo with weekly assessments of liver function during both the placebo and drug period. Higher doses will not be studied until the Company is confident that it is safe to proceed to the next dose and has reported the safety findings to the FDA. Subjects will be dosed with the active drug for 10 weeks, which will allow for adequate time to determine the impact of a given dose on trends in liver function. Each dose will be tested in 12 different subjects and assessment of pharmacokinetic parameters will be obtained at start of dosing and end of the dosing period to determine overall and maximum drug exposure for a given dose. The Company will also monitor changes in menstrual bleeding patterns and ovulation as well as changes in endometrial thickness. The FDA requires that an independent Drug Safety Monitoring Board be established and that the “Informed Consent” clearly state the liver toxicity previously experienced with Proellex. The Company believes the toxicity experienced was dose dependent and that the lower doses being tested now are outside the range where toxicity was previously seen.
What They Do: Repros Therapeutics focuses on the development of oral small molecule drugs for major unmet medical needs that treat male and female reproductive disorders.
Medical Nutrition USA (Nasdaq: MDNU) $2.78. Today announced that it has entered into a definitive merger agreement with Danone North America, Inc. ("Danone"), under which Danone will acquire all the outstanding shares of MNI for $4.00 per share in cash, in a transaction valued at approximately $62.3 million.
Under the terms of the merger agreement, a wholly owned subsidiary of Danone will merge into MNI, with MNI as the surviving corporation, and each outstanding share of common stock of MNI (other than dissenting shares) will be converted into the right to receive $4.00 per share, in cash. This price represents a premium of 44% over the closing share price of MNI's common stock on June 10, 2010. The Board of Directors of MNI has unanimously approved the merger. In addition, holders of shares of MNI common stock constituting a majority of MNI's outstanding shares have executed and delivered to MNI written consents adopting the merger agreement, as a result of which the required stockholder approval of the merger has been obtained and no further action by MNI stockholders is required in connection with the transaction.
What They Do: Medical Nutrition USA develops and distributes products for the nutritionally at risk who are under medical supervision.
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