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Cardiome Pharma (Nasdaq: CRME) $6.53. and Merck (NYSE: MRK). Today announced that the intravenous (IV) formulation of BRINAVESS™ (vernakalant) has been granted marketing approval in the European Union (EU), Iceland and Norway for the rapid conversion of recent onset atrial fibrillation (AF) to sinus rhythm in adults: for non-surgery patients with AF of seven days or less and for post-cardiac surgery patients with AF of three days or less.
BRINAVESS acts preferentially in the atria and is the first product in a new class of pharmacologic agents for cardioversion of AF to launch in the EU.
"This medicine offers physicians, patients and hospitals an important new therapy option to use for the rapid treatment of recent-onset AF, and we are pleased to add this to our strong portfolio of medicines for cardiovascular disease," said Patrick Magri, senior vice president, general manager, Cardiovascular Franchise, Merck. "We welcome this important milestone in our collaboration with Cardiome and we look forward to launching BRINAVESS in the EU beginning in the fourth quarter of 2010."
"European approval of BRINAVESS and Merck’s subsequent launch represent an exciting juncture in Cardiome’s evolution which will provide us with our first commercial product revenues,” said Doug Janzen, president and chief executive officer of Cardiome. “This success was made possible through the commitment and hard work of our employees and our partner Merck, the support of our shareholders, and the efforts of many dedicated medical professionals and patients who have taken part in the clinical program.”
What They Do: Cardiome Pharma Corp. is a product-focused drug development company dedicated to the advancement and commercialization of novel treatments for disorders of the heart and circulatory system.
Car Charging Group (OTCBB: CCGI) $0.95. Announced Wednesday after market close a strategic partnership to incorporate electric vehicle (EV) charging stations into both existing projects as well as future design offerings of Kobi Karp Architecture & Interior Design (KKAID), located at 2915 Biscayne Boulevard, Miami, FL 33137-4197, a vertically-integrated and award winning firm specializing in international architecture, planning and interior design.
"Our portfolio includes luxury high-rise mixed-use developments, world-class hospitality and entertainment centers, high-end commercial and retail spaces. We have a long history in sustainable development. In April 2007, the United States Green Building Council (USGBC) recognized Baylights Condominium, a design project we spearhead, as the first green residential building in South Florida," said Kobi Karp, principal and founder of KKAID. "Access to charging stations for electric cars is the next must-have accessory in upscale housing and forward-thinking developers are demanding this feature be incorporated into design plans as a perk to distinguish their offerings from competitors."
What They Do: Car Charging Group, Inc. is an owner and provider of electric vehicle (EV) charging stations with the mission to build-out a nationwide infrastructure, enabling EV and PHEV owners to charge their EVs anytime, anywhere. As part of its strategy, the Company owns, provides, installs and maintains electric vehicle charging units and works with its landowner partners to identify appropriate locations for its charging stations. The Company provides convenient, safe and affordable charging stations away from home in customer-friendly public locations, including municipalities, shopping malls and parking garages.
FuelCell Energy (Nasdaq: FCEL) $1.16. Today reported results for its third quarter ended July 31, 2010 and its latest accomplishments.
FuelCell Energy reported total revenues for the third quarter of 2010 of $18.9 million compared to $23.0 million in the same period last year. Product sales and revenues in the third quarter were $16.2 million compared to $18.7 million in the prior year quarter and $13.0 million for the second quarter of 2010. Revenue increased over the second quarter of 2010 with 3.4 megawatts (MW) of orders received. Total product sales and service backlog as of July 31, 2010, was $79.8 million compared to $104.8 million as of July 31, 2009. Three orders were received subsequent to July 31, 2010 which will add $13.1 million to backlog in the fourth quarter of 2010.
Net loss to common shareholders for the third quarter of 2010 of $13.8 million, or $0.15 per basic and diluted share, improved 12 percent compared to net loss to common shareholders of $15.7 million or $0.21 per basic and diluted share in the third quarter of 2009. Higher product margins drove the improvement, partially offset by increased research and development and selling expenses of $0.5 million.
What They Do: DFC(R) fuel cells are generating power at over 50 locations worldwide. The Company's power plants have generated over 550 million kWh of power using a variety of fuels including renewable wastewater gas, biogas from beer and food processing, as well as natural gas and other hydrocarbon fuels.
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