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VIVUS (Nasdaq: VVUS) $7.84. Today announced that the positive results from REVIVE-RP (TA-303), a phase 3 clinical trial evaluating the safety and efficacy of the investigational drug avanafil for the treatment of erectile dysfunction (ED),will be presented this afternoon at the 2011 Cancer Survivorship and Sexual Health Symposium in Washington D.C. The meeting is jointly sponsored by the International Society for Sexual Medicine (ISSM) and the Sexual Medicine Society of North America (SMSNA). John Mulhall, M.D., Director of the Male Sexual & Reproductive Medicine Program at the Memorial Sloan Kettering Cancer Center in New York, will present the results during the peer-reviewed, moderated poster session.
Avanafil met all primary endpoints by demonstrating improvements from baseline in erectile function as measured by the Sexual Encounter Profile (both SEP 2 and SEP 3) and improvement in the erectile function domain of International Index of Erectile Function (IIEF). The study also indicated a favorable safety profile and successful intercourse (as measured by SEP 3) was observed as early as 15 minutes after dosing, without any restrictions on food or alcohol.
What They Do: VIVUS is a biopharmaceutical company developing therapies to address obesity, sleep apnea, diabetes and male sexual health.
Spreadtrum Communications (Nasdaq: SPRD) $12.99. Today announced that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up to US$100 million of its American Depositary Shares ("ADSs") pursuant to a Rule 10b5-1 repurchase plan. The share repurchase program will be funded with the Company's cash on hand. Members of the Company's management team also intend to purchase the Company's outstanding shares through the open market.
Spreadtrum's Chairman and CEO, Dr. Leo Li, said, "We believe the share repurchase program represents an effective use of our cash and is in the best interests of our shareholders. We expect to continue generating cash from operations that would provide enough resources to fund our ongoing R&D efforts. Management's commitment to repurchase shares further reflects our confidence with our near and long-term growth initiatives."
The repurchase program does not obligate the Company to repurchase a minimum number of shares, and the program may be suspended or canceled without prior notice.
What They Do: Spreadtrum Communications is a fabless semiconductor company that develops baseband and radio frequency processor solutions for the wireless communications market.
GenMark Diagnostics (Nasdaq: GNMK) $4.32. Today announced the pricing of a public offering of 7,065,600 shares of its common stock at a price to the public of $4.25 per share. GenMark has granted the underwriters an option to purchase up to an additional 1,059,840 shares of common stock to cover over-allotments. The offering is expected to close on June 22, 2011, subject to customary closing conditions.
Canaccord Genuity Inc. is acting as sole book-running manager of the offering, and William Blair & Company, L.L.C. is acting as co-lead manager of the offering. The offering was made pursuant to a registration statement (File No. 333-174524) initially filed with the Securities and Exchange Commission (the "SEC") on May 26, 2011, and that was declared effective on June 16, 2011.
What They Do: GenMark Diagnostics is a leading provider of automated, multiplex molecular diagnostic testing systems that detect and measure DNA and RNA targets to diagnose disease and optimize patient treatment.
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