FDA Green-Lights Valeant Pharmaceuticals’ (VRX) Psoriasis Drug; hhgregg (HGG) Eyeing Strategic Options

 

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Valeant Pharmaceuticals International, Inc. (NYSE:VRX) shares surged more than 4% in the extended session Wednesday after the U.S. Food and Drug Administration (FDA) gave green light to the company’s drug Siliq (brodalumab) as treatment of moderate-to-severe plaque psoriasis in adults.

According to the the government agency, Valeant’s Siliq will be only available to psoriasis patients through a restricted program called the “Siliq REMS Program”.

VRX stock closed at $16.86, up $0.88 (or +5.51%) with a total volume of 27.70M shares traded, representing a large increase in activity versus its average volume (3m) of 13.90M shares.

Valeant Pharmaceuticals International, which develops, manufactures, and markets pharmaceuticals, OTC products, and medical devices worldwide, has 341.19M shares outstanding, market capitalization (intraday) of $5.75B and VRX stock 52-week range is from $13.00 to $96.62 per share.

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hhgregg_hgg

Shares of hhgregg, Inc. (NYSE:HGG) soared over 18% in after-hours trading Wednesday as the company said that it has hired Stifel Financial Corp.‘s (NYSE:SF) subsidiaries Stifel, Nicolaus & Co., Inc. and Miller Buckfire & Co., LLC as its financial advisors to lead a review of strategic alternatives, aiming to improve liquidity and return to profitability

HGG stock finished the regular session in negative territory by 4.55% (or -$0.02) at $0.43 and 342,816 of its shares changed hands during the day.

hhgregg, an appliance, electronics and furniture retailer, has 27.81M shares outstanding, market capitalization (intraday) of $11.95M and HGG stock one-year range is between $0.41 and $2.72 per share.

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