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Impax Pharmaceuticals (Nasdaq: IPXL) $22.07. Today announced statistically significant, positive, top-line results of the ADVANCE-Parkinson’s Disease (PD) Phase III clinical study of the safety and efficacy of IPX066 versus immediate-release (IR) carbidopa-levodopa (CD-LD) in advanced PD patients experiencing motor fluctuations. IPX066 is an investigational extended release (ER) CD-LD product. The ADVANCE-PD results demonstrated that IPX066 produced significantly improved control of motor symptoms as compared to IR CD-LD in multiple clinical measures in subjects with advanced PD.
The primary endpoint of this comparison study of IPX066 to IR CD-LD was the percentage of “off time” during waking hours. IPX066 demonstrated a 37% improvement from baseline for IPX066 vs. a 17% improvement from baseline for IR CD-LD (p<0.0001). “Off time” is the functional state when patients’ medication effect has worn off and there is a return of Parkinson’s symptoms.
What They Do: Impax Laboratories, Inc. is a technology-based specialty pharmaceutical company applying its formulation expertise and drug delivery technology to the development of controlled-release and specialty generics in addition to the development of branded products.
CompuCredit Holdings Corporation (Nasdaq: CCRT) $6.27. Today announced that it has commenced a cash tender offer (the "Tender Offer") for up to 13,125,000 shares of its outstanding common stock, no par value per share (the "Common Stock"), at a purchase price of $8.00 per share.
Specific terms and conditions of the Tender Offer are included in the Offer to Purchase, dated March 14, 2011, and the accompanying Letter of Transmittal, each filed with the Securities and Exchange Commission.
If the aggregate number of shares of Common Stock validly tendered and not properly withdrawn on or prior to the Expiration Date exceeds 13,125,000, then we will accept for payment 13,125,000 of such shares validly tendered and not properly withdrawn on a pro rata basis, disregarding fractions, from among such shares validly tendered and not properly withdrawn.
As of March 11, 2011 there were approximately 38.0 million shares of Common Stock outstanding.
What They Do: CompuCredit is a specialty finance company and marketer of financial products and services to consumers who are underserved by traditional financial institutions.
ZAGG Inc. (Nasdaq: ZAGG) $8.11. Today announced financial results for the fourth quarter and full year ended December 31, 2010. Revenue for the fourth quarter was $29.3 million, an increase of 157% from the fourth quarter of 2009, and a 27% sequential increase as compared to the third quarter of 2010. Revenue for the full year was $76.1 million, a 98% increase from $38.4 million in 2009.
Gross profit for the fourth quarter was $13.4 million, or 46% of sales, compared to $6.1 million, or 54% of sales in the fourth quarter of 2009. Gross profit for the full year was $37.4 million, or 49% of sales, compared to $22.1 million, or 58% of sales in 2009.
Net income attributable to stockholders for the fourth quarter was $3.4 million or $0.13 per share as compared to net income attributable to stockholders of $0.3 million or $0.01 per share in the fourth quarter of 2009. Net income attributable to stockholders for the full year was $10.0 million or $0.41 per diluted share as compared to net income attributable to stockholders of $3.4 million or $0.15 per diluted share in the prior year.
“The 2010 holiday season was very strong for ZAGG’s product line, and our newest product, the ZAGGmate for the Apple iPad, was extremely well received,” said Robert G. Pedersen II, CEO and President. “ZAGG benefited from a number of popular device introductions in 2010, as well as the expansion of our indirect channel, and new product introductions throughout the year.”
What They Do: ZAGG Inc. is a leading producer of mobile electronics accessories including the popular invisibleSHIELD and ZAGGaudio brands.
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