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Medarex (Nasdaq: MEDX) Today announced that the MDX-1100 Phase 2 proof-of-concept trial in patients with active rheumatoid arthritis (RA) receiving methotrexate successfully met its primary endpoint. The top-line results from the recently completed 70-patient multi-center, randomized, double-blind, placebo-controlled Phase 2 trial indicated that when compared to placebo, three times the number of patients treated with 10 mg/kg of MDX-1100 every two weeks achieved at least a 20% improvement in RA signs and symptoms at 12 weeks, the primary endpoint of the study, as measured by the American College of Rheumatology (ACR) 20 measurement of response.
These results were statistically significant when compared with placebo (p=0.0024). The antibody combination with methotrexate was generally safe and well-tolerated. Full results from this Phase 2 trial are planned to be presented at a future scientific meeting.
What They Do: Medarex is a biopharmaceutical company focused on the discovery, development and potential commercialization of fully human antibody-based therapeutics to treat life-threatening and debilitating diseases, including cancer, inflammation, autoimmune disorders and infectious diseases.
American Superconductor Corporation (Nasdaq: AMSC) $24.44. Today reported financial results for its fourth quarter and full fiscal year 2008 ended March 31, 2009. Revenues for the fourth quarter of fiscal 2008 were $61.2 million, a 60 percent increase over $38.4 million in revenues for the fourth quarter of fiscal 2007. Gross margin for the fourth quarter of fiscal 2008 was 32.6 percent, which compares with 33.2 percent for the fourth quarter of fiscal 2007.
AMSC generated its first quarterly profit in company history, reporting net income of $1.3 million, or $0.03 per diluted share, for the fourth quarter of fiscal 2008.
What They Do: AMSC offers an array of proprietary technologies and solutions spanning the electric power infrastructure – from generation to delivery to end use.
New Generation Biofuels Holdings (Nasdaq: NGBF) $1.22. Today announced that it has signed a renewable fuel sales contract with Baltimore-based Seaboard Asphalt Products Company.
A maker of premium-grade, asbestos-free asphalt and related products for over 60 years, Seaboard Asphalt Products is the first in its market sub-segment to choose New Generation Biofuels. Seaboard Asphalt Vice President Richard E. Campbell commented, "We are conscious of looking for ways to reduce our emissions and switching our boiler fuel to New Generation Biofuels gives us the opportunity to further reduce our emissions and carbon footprint."
What They Do: New Generation Biofuels is a renewable fuels provider. New Generation Biofuels holds an exclusive license for North America, Central America and the Caribbean to commercialize proprietary technology to manufacture alternative biofuels from vegetable oils and animal fats that it markets as a new class of biofuel for power generation, commercial and industrial heating and marine use.
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