FDA Tentative-Greenlight for Intellipharmaceutics’ (IPCI) Drug; Cyber-Spy Discount Rumors Around Yahoo (YHOO)
Intellipharmaceutics International Inc. (Nasdaq:IPCI) shares soared more than 40% to near 52-week high levels in after-hours trading Friday as the company said that the U.S. Food and Drug Administration (FDA) gave tentative approval for its abbreviated new drug application for its generic version of AstraZeneca‘s (NYSE:AZN) Seroquel XR.
IPCI stock closed the regular session at $2.38, up $0.14 (or +6.20%) with a total volume of 424,100 shares traded during the day, representing a large increase in activity versus its average volume (3m) of 193,590
Intellipharmaceutics International, which engages in the research, development and manufacture of controlled-release and targeted-release oral solid dosage drugs, has 25.06M Shares Outstanding, At close on Friday, the pharmaceutical company had a Market Capitalization of $62.96M and IPCI stock one-year range was between $1.41 and $3.19 per share
Shares of Yahoo! Inc. (Nasdaq:YHOO) finished Friday’s trading session in negative territory by 1.05% (or -$0.46) at $43.22, following a report from the New York Post indicating that telecom giant Verizon Communications Inc. (NYSE:VZ) is pushing for a $1 billion price cut on its pending $4.8 billion deal to acquire Yahoo’s core operations.
According to the NYP report, Verizon is looking for a more than 20% discount to its original offer after the recent news about Yahoo, relating to a massive security breach occurred in 2014 and that the internet giant scanned all of its users’ incoming emails for specific information during 2015, following classified orders from a U.S. government agency
Yahoo!, which provides search and display advertising services on Yahoo properties and affiliate sites worldwide, has 951.78M Shares Outstanding, Market Capitalization (intraday) of $41.60B and YHOO stock 52-week range is from $26.15 and $44.92 per share
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