CytoDyn On Watch List, FDA Panel Snubs EDAP, CRY Makes Investors Smile

(RTTNews) - Anika Therapeutics Inc. (ANIK) has entered into a new agreement with Medline Industries Inc. to commercialize its FDA-cleared wound care product - Hyalomatrix, in the United States on an exclusive basis through 2019.

According to the terms of the agreement, Anika will receive product payment and royalty revenues from the sale of the product by Medline.

ANIK closed Wednesday's trading at $49.75, up 3.93%. In after-hours, the stock was down 7.04% to $46.25.

CryoLife Inc.'s (CRY) Board of Directors has approved a quarterly cash dividend for the third quarter 2014 of $0.03 per share of common stock outstanding. The quarterly cash dividend of $0.03 per share will be paid on September 19, 2014 to all common stockholders of record as of September 12, 2014. The ex-dividend date for the quarterly dividend is September 10, 2014.

CRY closed Wednesday's trading 1.02% higher at $9.95.

CytoDyn Inc. (CYDY.OB) is scheduled to discuss interim results from its ongoing phase 2b study of PRO 140 for treatment substitution study in patients with HIV on August 4, 2014.

CYDY.OB closed Wednesday's trading at $0.95, up 5.56%.

Durata Therapeutics Inc.'s (DRTX) Dutch subsidiary, Durata Therapeutics International B.V., has entered into a license and supply agreement with privately-held Italian drugmaker Angelini to commercialize its antibiotic Dalbavancin in 36 countries, which include Italy, Spain, Poland, Portugal, many Eastern European countries, Russia, Turkey, and Commonwealth of Independent States.

According to the terms of the agreement, Durata will receive an upfront payment from Angelini of $15 million and another $10 million upon European Medicines Agency approval. The company will also receive payments upon the achievement of certain countries' pricing approvals and sales milestones, as well as royalties on sales.

Durata's Marketing Authorization Application for Dalbavancin is under review with the European Medicines Agency and a decision is expected in the first half of 2015.

DRTX closed Wednesday's trading at $13.17, up 2.89%.

Shares of EDAP TMS SA (EDAP) plunged more than 40 percent in extended trading on Wednesday after an FDA advisory committee snubbed the company's Ablatherm-HIFU device as a treatment for low-risk, localized prostate cancer.

On the question of safety, the panel voted 3 yes, 5 no with 1 abstention, on the question of efficacy, 9 voted against recommendation while for the risk/benefit ratio, 8 voted against recommendation with 1 abstention.

EDAP closed Wednesday's trading at $3.42, down 7.32. In after-hours, the stock fell 40.94% to $2.02.

Hospira Inc. (HSP) touched a new high of $56.48 on Wednesday before closing the day's trading at $56.21 after delivering another strong quarter, driven by continued positive performance in its Specialty Injectable Pharmaceuticals products.

In light of the favorable performance for the first half of 2014, the company now expects net sales growth for full-year 2014 to range between 6 to 9 percent on a constant-currency basis compared to its prior estimate range between negative 2 and positive 3 percent on a constant-currency basis. The revised adjusted earnings per share outlook for 2014 is now pegged between $2.30 and $2.50, up from its previous forecast of $2.00 to $2.25 per share.