Lakeway, TX -- (SBWIRE) -- 01/31/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
Arca Biopharma Inc (NASDAQ:ABIO) shares surged 29.11% to $0.510 in the morning hour after the company provided an update on a proposed, genetically-targeted clinical trial in atrial fibrillation ("AF") of the Company's lead developmental drug, Gencaro (bucindolol hydrochloride). The Company also announced that Medtronic, Inc., a leader in medical technologies to improve the treatment of chronic diseases, including cardiac rhythm disorders, has signed a non-binding Letter of Intent to collaborate on the initial, Phase 2B portion of the proposed trial.
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Generex Biotechnology Corporation (OTC:GNBT) stock jumped 15% to $0.0460 after the company revealed the submission of a dossier of the results of the Phase III trial of its Generex Oral-lyn seeking approval of the diabetic drug's marketing and commercial distribution in India. This approval has been initiated by the company's Indian licensee, Shreya Life Sciences Pvt Ltd, and the papers were submitted to the Drugs Controller General (India) (DCGI), Central Drugs Standard Control Organization, Director General of Health Services, Ministry of Health and Family Welfare, Government of India.
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Alvarion Ltd (USA) (NASDAQ:ALVR) stock surged 27.61% to $0.550 after the Israeli business news site Globes reported that the company is in talks to be acquired by DVTel, a privately held company based in Ridgefield Park, New Jersey. According to the story, the company is also in talks to sells its WiMax division to the Israeli private equity fund Fortissimo Capital. The story notes that the company’s market cap is down to about $27 million, from $900 million five years ago.
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BioClinica Inc (NASDAQ:BIOC) stock increased 19.45% to $7.22 after the company announced that it has entered into a definitive agreement to be acquired by a holding company controlled by JLL Partners, Inc., a private equity firm. Simultaneously, JLL Partners announced that it has reached a definitive agreement to acquire CoreLab Partners, Inc., a provider of medical imaging solutions and cardiac safety services based in Princeton, N.J. Under terms of the BioClinica agreement, the holding company will commence a cash tender offer to purchase all of BioClinica`s common stock at an offer price of $7.25 a share, which results in an equity value of approximately $123 million.
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Copano Energy, L.L.C. (NASDAQ:CPNO) stock jumped 14.70% to $38 after Kinder Morgan Energy Partners, L.P. ( KMP ) has signed a definitive agreement to acquire Copano Energy for a total purchase price of approximately $5 billion, including the assumption of debt. The transaction has been approved by the Boards of Directors of both companies. The deal will be a 100% unit for unit transaction with an exchange ratio of 0.4563 KMP units per Copano unit. The consideration to be received by Copano unit holders is valued at $40.91 per Copano common unit.
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