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Rigel Pharmaceuticals (Nasdaq: RIGL) $8.40. Today announced that it has earned $25 million from AstraZeneca for the fulfillment of two major milestones in the agreement the two companies have regarding the clinical development of fostamatinib (R788), a novel oral syk inhibitor. The first milestone is for initiation of the phase 3 clinical program with fostamatinib in patients with rheumatoid arthritis (RA) that was announced by AstraZeneca earlier today. The second milestone marks the completion of the transfer of the fostamatinib long-term open label extension study from Rigel to AstraZeneca.
What They Do: Rigel is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory and autoimmune disorders, as well as muscle and metabolic diseases.
Tyler Technologies (NYSE: TYL) $19.73. Today announced that it purchased a block of 1,000,000 shares of its common stock at a price of $19.85 per share. During the third quarter, the company repurchased 2,481,271 shares of its common stock for $46.6 million at an average price of $18.78 per share. To date during 2010, the company has repurchased 3,349,760 shares of its common stock for $61.5 million at an average price of $18.35 per share. Tyler may repurchase up to an additional 913,000 shares under the current authorization from its board of directors.
What They Do: Tyler Technologies is a leading provider of end-to-end information management solutions and services for local governments.
China Information Technology (Nasdaq: CNIT) $4.72. Today announced it has been awarded a follow-on exclusive contract with the Guangdong Department of Health to provide its patented Medical Case Statistics Software (the "MCS Software"), a component of the Company's Electronic Medical Record (EMR) system, to an additional 1,000 hospitals in Guangdong province over the next five years. This contract is an extension to the initial exclusive contract signed with the Guangdong Department of Health in 2009 which required the MCS Software to be adopted by 1,000 hospitals in Guangdong by the end of 2010. When completed, this follow-on contract will bring the total number of Guangdong hospitals that will be running on the Company's MCS Software to 2,000.
What They Do: China Information Technology, Inc., through its subsidiaries and other consolidated entities, specializes in Geographic Information System ("GIS"), digital public security and hospital information systems, with the goal of being the largest GIS software provider in China.
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