Wall Street Journal
Novartis's shares slid 0.9% to $54.90 in after-hours trading. The stock has gained nearly one-quarter in the past year.
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Sequenom, Inc. (NASDAQ: SQNM) is getting clipped this morning before the open. At 9:25 AM EST we have shares down 7.9% from the $4.42 close down at $4.07 this morning. All we have seen is a call on the wires from a Skymark Research and that is just an advertisement of a call that is not seen for free. Today’s 679,440 to the downside is after a large rise yesterday, so it possible that traders are just dumping into the long weekend.
-JON OGG
Incyte Corp (NASDAQ:INCY) announced that it has signed a collaboration and license agreement with Novartis (NYSE: NVS) for two of its investigational haematology and oncology therapies. Novartis could end up paying $1.1 billion in total under the pact if milestones are reached. Novartis will pay $150 million to Incyte up front, with an immediate $60 million in milestone payment on top of that for its phase III European trial of the myelofibrosis therapy which commenced in July. Shares had been up over 15% earlier this morning. At 8:26 AM EST shares are up 11.2% at $8.59 on almost 700,000 shares. The 52-week trading range is $1.96 – $8.32 and the average daily volume is 2.9 million shares. Call that a 52-week high.
JON OGG
Origin Agritech Limited (NASDAQ: SEED) is continuing yesterday’s surge on a genetic corn approval. At 8:43 AM EST we have already seen 1.45 million shares trade hands and the stock is up 7% at $11.19. Shares had been up as high as $11.40 in earlier indications but that is pre-market and won’t count unless the trades happen during hours as the prior 52-week range is $1.70 to $10.58. This one effectively doubled in price yesterday and traded a whopping 45 million shares. Its market cap after the double is $235 million.
JON OGG