Medgenics MOVES Forward with Hepatitis D Drug and 2 More Stocks Hitting 52-Week Highs
Medgenics Inc. Commo (MDGN) rises quickly following the company’s announcement that its Infradure Biopump has been given an Orphan Drug Designation from the FDA in order to treat hepatitis D. This designation allows the company to be given grant money, obtain specific tax credits, seven years of market exclusivity, and possibly an expedited regulatory process. The designations has made Seeking Alpha contributor Ray Dirks label Medgenics as a prime takeout target. The shares closed at $8.65, up $1.75 or 25.36% on the day. They have traded in a 52-week range of $2.08 to $8.60.
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Raytheon Company (NYSE:RTN): Los Angeles County has chosen Raytheon to replace legacy emergency dispatch consoles with newer ones which can be easily expanded for innovative technologies for public safety like Long Term Evolution, which is a high-speed, wireless broadband data network. This $12.5M contract gives Raytheon the responsibility of replacing these consoles which should allow sheriff and fire departments to be more responsive, raise efficiency, and lower maintenance costs. The shares closed at $54.89, up $0.25 or 0.46% on the day. They have traded in a 52-week range of $38.35 to $55.00.
Triangle Capital Cor (NASDAQ:TCAP) has closed a subordinated debt investment in Xchange Technology totaling $6M. The shares closed at $21.45, down $0.16 or 0.74% on the day. They have traded in a 52-week range of $13.62 to $21.70.
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