Posts Tagged ‘buzz stocks’

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Echelon Corp. (ELON) – Buzz Stock of the Day

Monday, August 10th, 2009


Shares of Echelon Corp. (NASDAQ: ELON) were up more than 45 percent today after the maker of energy efficiency products announced a long-term agreement to supply “smart meters” to Duke Energy Corp. (NYSE: DUK).

Duke Energy has described the smart grid as one of the greatest advancements of the 21st century,” said Ken Oshman, chairman and CEO of Echelon in a statement.

Echelon’s smart meters allow households to monitor electricity usage while also sending data back to power providers. By bringing the wide area network connection point down to the neighborhood transformer, the company’s NES architecture allows a utility to pinpoint problems in its network at a very precise location, and can improve customer service, for example, by eliminating cost and time associated with outage detection.

The creation of a “smart grid” is considered by some to be essential to modernizing the U.S. power delivery system, according to many experts.

“It’s the marriage of information technology and automation technology with the existing electricity network. This is the energy Internet,” said Bob Gilligan, vice president for transmission at GE Energy, which is aggressively pursuing smart grid development. “There are going to be applications 10 years from now that you and I have no idea that we’re going to want or need or think are essential to our lives.”

However, other experts warn that a “smart grid” isn’t smart enough yet to keep hackers away.

Mike Davis, a senior security consultant with Seattle-based IOActive Inc., demonstrated how a computer worm could hop between the meters at homes and businesses within a smart grid network. Such a worm could give troublemakers remote control of the meters, allowing them to disconnect someone’s power, for example.

“Every time we redesign a new technology like this, we’re doomed to relive the ’80s and ’90s all over again and the same vulnerabilities,” he told the AP.

Duke Energy has received regulatory approval to deploy smart grid infrastructure in Ohio, and plans to launch a five-year mass deployment of smart grid technology later this year including more than 700,000 electric smart meters in Ohio. In Indiana, Duke Energy is seeking approval from the Indiana Utility Regulatory Commission to install smart grid technology, including approximately 800,000 smart meters.

Echelon said the deal could represent a revenue opportunity of $150 million. The initial order is worth $15.8 million, with deliveries expected to begin at the end of the quarter, the company said.

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Transcept Pharmaceuticals Inc. (TSPT) – Buzz Stock of the Day

Monday, August 3rd, 2009

Shares of Transcept Pharmaceuticals, Inc. (NASDAQ: TSPT) jumped $3.75 or 64.7 percent to $9.55 in morning trading on Monday, after the company announced a licensing deal for its insomnia treatment with Purdue Pharmaceuticals for up to $145 million, and royalty payments.

“This agreement is a transforming event for Transcept,” said Glenn A. Oclassen, President and CEO of Transcept Pharmaceuticals in a statement.

[–quote–]

Under the terms of the agreement, Purdue was granted the exclusive rights to sell Intermezzo in the U.S. and is able to negotiate for its approval in Mexico and Canada. Transcept Pharmaceuticals retains the rights to the drug in all other countries and has the option to co-promote Intermezzo to psychiatrists in the U.S.

The agreement states that Purdue will pay Transcept $25 million upfront, and up to $30 million more based on approval timing by the FDA. Additionally, Transcept could receive as much as $90 million more based on future benchmarks related to intellectual property and sales milestones.

The deal also includes royalties of greater than 10 percent and as much as about 25 percent for the Richmond, Calif.-based Transcept. If Transcept exercises the psychiatric co-promotion option, it will receive an additional double-digit royalty on those sales. Transcept can begin co-promotion as soon as one year after launch.

“We are excited to be working with Transcept towards the launch of this potential new entry into the prescription sleep aid market,” said Purdue’s President and CEO John H. Stewart. “This agreement is part of Purdue’s plan to diversify our product portfolio and broaden our commercial focus into therapeutic areas that complement our leadership position in pain.”

The active ingredient in Intermezzo is zolpidem, the same active ingredient in other insomnia sleep aids, such as Ambien. However, Intermezzo only has about one-third-to-one-quarter zolpidem as other insomnia treatments.

“We believe that Intermezzo has the potential to occupy an important position in the substantial worldwide market for prescription sleep aids, and that our U.S. partnership with Purdue is a key step toward the commercial success of Intermezzo.”

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Buzz Stock of the Day- Anadys Pharmaceuticals Inc. (ANDS)

Saturday, August 1st, 2009

Shares of Anadys Pharmaceuticals, Inc. (NASDAQ: ANDS) soared today after the San Diego-based company announced that U.S. Food and Drug Administration regulators approved the design of a study for its hepatitis C treatment.

Shares were up $1.32, or 73 percent from yesterday’s closing price in morning trading, and closed the day 45 percent higher at $2.60 per share.

The company’s hepatitis C treatment, ANA598, has “demonstrated potent antiviral activity and good tolerability as a single agent in Phase 1, as well as preclinical properties indicative of likely synergy when used clinically in combination regimens,” according to CEO, Steve Worland, Ph.D. “This trial incorporates several attractive features designed to further enhance the competitive position of ANA598, including twelve weeks of triple combination treatment and a randomized exploration of shortening the overall duration of HCV therapy in conjunction with ANA598 treatment.”

The FDA approval establishes the length and goals of the study, which clarifies what is considered successful testing. The study was previously sidelined when three participants dropped out of testing after developing a rash.

Anadys said the FDA cleared the study protocol and patient dosing is expected to start in the next several weeks. Ninety patients are planned to be enrolled in the study, with 30 patients receiving the drug, ANA598, and 15 receiving a dummy drug at each dose level. The study would test 200 mg and 400 mg doses of the drug.

For the second quarter, the company posted a net loss of $6.5 million, or 21 cents a share, compared with a net loss of $7.1 million, or 25 cents a share, a year ago. The company’s cash, cash equivalents and securities available for sale as of June 30 totaled $30.6 million compared to $27.9 million as of December 31, 2008. These cash reserves are expected to fund operations into 2011.

“With our enhanced cash position, reduced cost structure and Phase II protocol allowance from the FDA, we are well positioned to continue advancing the development of ANA598 as a treatment for chronic hepatitis C,” Worland said in a statement.

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American Superconductor Corp. (AMSC): Buzz Stock of the Day

Thursday, July 30th, 2009

American Superconductor Corp. (NASDAQ: AMSC) caught a tailwind this morning after the maker of wind-energy components announced first quarter earnings that beat analysts’ expectations thanks in large part to China’s greening.

“China, in particular the China wind industry, is the primary driver for our growth today,” said American Superconductor CEO, Greg Yurek in a conference call with analysts.

For the first quarter, the company posted net income of $1.8 million, or 4 cents a share, compared with a net loss of $6.1 million, or 14 cents a share, a year ago. Excluding items, it earned 12 cents a share. Revenue grew 83 percent to $73 million.

AMSC’s largest customer, wind-energy generator maker, Sinovel Wind, accounted for approximately70 percent of AMSC total revenue, and recently increased the its total contract value with American Superconductor to $470 million.

The original Sinovel contract, signed in January and valued at $450 million, had called for AMSC to ship core electrical components for Sinovel’s 1.5 megawatt wind turbines through the end of December 2011. Now, AMSC will increase its core electrical component shipments to Sinovel in 2009 and 2010 and now agrees to complete all shipments by the end of April 2011.

In 2008, China grew the installed base of wind turbines to about 12 GW and early this year declared that they intended to add another 10 GW or more in 2009, Yurek noted. Research by China Wind Energy Association projected that China would grow its wind power installed base between 108 GW and 132 GW by 2020.

“With Sinovel continuing to gain market share, many of our other wind turbine manufacturers set to commence production over the next 12 months, and power grid demand on the rise worldwide, AMSC’s outlook is stronger than ever,” said Yurek, adding that Sinovel is looking to double its production in 2009 and further growth is expected in 2010 and beyond.

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Buzz Stock of the Day – iBasis (IBAS)

Monday, July 13th, 2009

Shares of telecom services provider, iBasis, Inc. (Nasdaq: IBAS) were up more than 24 percent today, after news of a $48mln bid for 44 percent of the company’s outstanding shares from Dutch telecommunications giant, Koninklijke KPN.

The $1.55-per-share offer equated to a 19.2 percent premium over iBasis’ July 10 closing price.

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iBasis operates as a wholesale carrier of international long distance telephone calls, and a provider of retail prepaid calling services and enhanced services for mobile operators worldwide.

iBasis had 71.2 million common shares outstanding, as of March 31st. In October 2007, iBasis received $55 million in cash from KPN in exchange for 40.1 million shares of its common stock.

KPN already owned about 40.1 million shares, or a 56.3 percent stake, in the Burlington, Mass.-based iBasis prior to making the bid. KPN’s latest bid indicates its intention to commence a tender offer to increase KPN’s equity ownership to up to 100 percent.

iBasis said its board will form a special committee of independent directors to consider the bid.

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