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Glu Mobile Inc. (Nasdaq: GLUU) $5.11. Today announced its Gun Bros App is now available with Multiplayer co-op mode for iPad, iPhone and iPod touch. With more than 8 million downloads to date on iOS devices, the Gun Bros Multiplayer update is poised to make shockwaves through the Bros community.
Through real-time co-op play and Game Center voice chat, players can now work together as Bros to level up faster and defeat the evil T.O.O.L. organization. With each additional Bro recruited, players earn valuable power ups called Bro-Buffs which increase their speed, damage, armor, extra points and payout. By completing Bro-Ops daily challenges, players can earn War Bucks, coins, extra points and more.
What They Do: Glu Mobile is a leading global publisher of social games for smartphone and tablet devices.
VIVUS (Nasdaq: VVUS) $7.86. Today announced that a New Drug Application (NDA) has been submitted to the U.S. Food and Drug Administration (FDA) seeking approval of avanafil, its investigational drug for the treatment of erectile dysfunction (ED). The NDA submission follows the successful completion of an extensive phase 3 program for avanafil, which included over 1,350 patients, where avanafil was shown to be well tolerated and effective in treating men with ED.
"This NDA filing is yet another major milestone for VIVUS and the avanafil program. The efficacy was consistent across all patient groups, with success observed in some patients in as early as 15 minutes after dosing. The drug was well tolerated and had a low dropout rate in all of the clinical trials. If approved, avanafil could be an attractive treatment alternative for the 30 million men in the United States who suffer from ED," stated Leland F. Wilson, chief executive officer for VIVUS. "The unique profile of potentially faster onset and greater selectivity should allow avanafil to effectively compete in the $4 billion worldwide ED market. I wish to thank all of the VIVUS employees, investigators, advisors, patients and our development partner, Mitsubishi Tanabe Pharma Corporation, who contributed to the program and made this filing possible."
What They Do: VIVUS is a biopharmaceutical company developing therapies to address obesity, sleep apnea, diabetes and male sexual health.
Methode Electronics (NYSE: MEI) $10.60. Today announced financial results for the Fiscal 2011 fourth quarter and year ended April 30, 2011. Methode's fourth-quarter Fiscal 2011 net sales increased $22.8 million, or 23.6 percent, to $119.4 million from $96.6 million in the fourth quarter of Fiscal 2010. Translation of foreign currency decreased net sales $0.8 million, or 0.6 percent, in the year-over-year comparison.
In March 2011, Methode sold its 75 percent ownership in Optokon, its Czech Republic optical operation, to the minority shareholder for $10.0 million, including a collateralized note of $4.1 million. The net assets of the Company's 75 percent ownership had a book value of $9.9 million. A gain of $4.1 million was recorded on the sale of the net assets, primarily attributable to the cumulative translation gains since the date of the initial investment. The Company also recorded income taxes related to the sale of $3.5 million, resulting in a gain net of taxes of $0.6 million, or $0.02 per share.
Net income attributable to Methode Electronics, Inc. decreased $6.0 million to $10.1 million, or $0.27 per share, in the fourth quarter of Fiscal 2011 from $16.1 million, or $0.44 per share, in the same period of Fiscal 2010.
What They Do: Methode Electronics is a global developer of custom engineered and application specific products and solutions with manufacturing, design and testing facilities in China, Germany, India, Lebanon, Malta, Mexico, the Philippines, Singapore, Switzerland, the United Kingdom and the United States.
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