Novadaq SPY deliveries to triple in second quarter

Novadaq Technologies (TSX:NDQ) expects to deliver about 70 of its SPY surgical imaging systems in the current second quarter, compared with 20 installations by its two partners in the first three months of 2011. The SPY fluorescence imaging system allows surgeons to intra-operatively capture, view and archive high quality image sequences of blood flow in [...]

Analysts hike price target on Theratechnologies

Versant Partners and Canaccord Genuity raised their price targets on Theratechnologies (TSX:TH) after the company signed a partnership with Sanofi-Aventis to distribute its Egrifta HIV treatment in Latin America, Africa and the Middle East, and confirmed that the U.S. selling price of the drug would be $23,900 (U.S.) a year, higher than previously assumed. Cannacord [...]

IMRIS prices $52.5 million offering

IMRIS (TSX:IM; NASDAQ:IMRS) priced a public offering of 10.5 million common shares at $5 (U.S.) a share to raise $52.5 million in connection with listing its shares on the NASDAQ Global Market. An additional 500,000 shares are being sold by a certain selling shareholder of IMRIS at the same price. Canaccord Genuity and Lazard Capital [...]

IMRIS to list on Nasdaq and sell stock

IMRIS (TSX:IM) has filed a registration statement as part of an IPO in the U.S. and has received conditional approval to list its common shares on the NASDAQ Global Market under the symbol IMRS. IMRIS proposes to offer 10 million common shares and certain selling shareholders propose to offer 3.7 million shares through a syndicate [...]

Versant ups Paladin Labs to buy

Versant Partners upgraded Paladin Labs (TSX:PLB) to “buy” from “neutral,” raising its 12-month price target to $31.50 from $29 after the company posted third quarter results. The stock was quoted at $28.01 Thursday afternoon. Analyst Doug Loe writes that while Paladin’s third quarter revenue was a bit lighter than projected, EBITDA was historically strong and [...]

Analysts cut Cardiome price target

Versant Partners and Dundee Securities have lowered their price targets on Cardiome Pharma (TSX:COM; NASDAQ:CRME) after it and partner Astellas Pharma halted a 470-patient Phase 3 trial testing an IV formulation of vernakalant or Kynapid for rapid-onset atrial fibrillation. Versant Partners analyst Doug Loe writes that the decision was “clearly disappointing because halting (the trial) [...]

Versant downgrades Transition to neutral

Versant Partners has downgraded Transition Therapeutics (TSX:TTH; NASDAQ:TTHI) to “neutral” from “buy” and slashed its price target to $3.25 from $6.25, citing Transition’s decision to discontinue development of its lead diabetes drug after it underperformed in a Phase 1/2  clinical trial. The stock has dropped 18% to $3.25 Friday morning, after trading as low as [...]

EU approves Cardiome’s Brinavess for IV

Cardiome Pharma’s (NASDAQ: CRME; TSX:COM) intravenous formulation of Brinavess has received marketing approval in the European Union, Iceland and Norway for the rapid conversion of recent onset atrial fibrillation to sinus rhythm in adults. Patrick Magri, senior vice president, general manager, Cardiovascular Franchise, Merck (NYSE:MRK), said “we welcome this important milestone in our collaboration with [...]

Versant ups CML to buy

Versant Partners upgraded CML Healthcare (TSX:CLC.UN) to “buy” from “neutral,” saying that the price of the units has fallen markedly in recent weeks, “unjustified by core fundamentals in our view.” Analyst Doug Loe kept his target price unchanged at $12. The units closed Friday at $9.70. They were quoted at nearly $13 at the beginning [...]

Canadians’ data heading to ASCO

Versant Partners analyst Doug Loe has compiled a list of six biotech companies that will have data presented at the American Society of Clinical Oncology meeting on June 4 to 8.  He expects: · AEterna Zentaris (NASDAQ:AEZS; TSX:AEZ) to report final data from its 43-patient Phase 2 advanced ovarian cancer trial with its AEZS-108 drug, [...]

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