Avanir Pharmaceuticals (AVNR) Upgraded, Marchex (MCHX) Solid Numbers, AstraZeneca (AZN) Spurns Takeo
Avanir Pharmaceuticals, Inc. (AVNR)
AVNR was upgraded from Neutral to Buy and its price target raised from $5.00 to $10.00 per share by brokerage firm Mizuho
A couple of days ago, AVNR reported that the U.S. District Court for the District of Delaware has ruled in favor of the company in its patent infringement lawsuit against Par Pharmaceuticals, Inc. and Impax Laboratories, Inc. in conjunction with their Abbreviated New Drug Applications for generic versions of NUEDEXTA(R) (dextromethorphan hydrobromide/quinidine sulfate) capsules for the treatment of pseudobulbar affect.
The ruling protects AVNR's NUEDEXTA patents through 2026, and prevents Par or Impax from bringing a biosimilar to market.
Pseudobulbar affect (PBA) is a neurologic condition characterized by emotional outbursts that are often contrary or exaggerated to the patient’s inner mood state, causing them to laugh or cry uncontrollably. As a result, many of those afflicted with PBA show significant impairment on standard measures of health status, and disruption in occupational and social function, often leading to social isolation.
PBA can occur in stroke survivors or people with other neurologic conditions such as dementia, multiple sclerosis, Lou Gehrig’s disease (ALS) or traumatic brain injury. It is thought to affect more than 1 million people in the U.S.
According to AVNR, new data from the Phase III STAR Trial showed that NUEDEXTA may provide early PBA symptomatic remission. Throughout the trial, sustained episode remission rates in patients treated with NUEDEXTA were significantly higher compared to placebo.
AVNR's NUEDEXTA is the only medication specifically designed and FDA-approved to treat PBA.
AVNR is a biopharmaceutical company focused on bringing innovative medicines to patients with central nervous system disorders of high unmet medical need.
More about Avanir Pharmaceuticals, Inc. (AVNR) at www.avanir.com.
Crown Equity Holdings Inc. (CRWE)
CRWE provides marketing solutions that boost customer awareness and merchant visibility on the Internet.
The company is currently developing its CRWE Network (CRWE-PR.com), a social networking service compatible with both, the mobile and desktop web platform, that is designed to target all the communities in the U.S. and Canada.
Update: The CRWE Network, which business model is based on selling advertising to local businesses, has reached the 505th community website in the U.S., associated with 2047 ZIP Codes, and includes coverage of the greater state of California, Northern and Southern Nevada, Wellington in Florida and 10 provinces in Canada
CRWE Network’s goal is to facilitate exchanges of goods and services in a manner similar to Craigslist, a classified advertisements website with sections devoted to jobs, housing, personals, for sale, items wanted, services, community, gigs, résumés, and discussion forums, while providing micro community news, information and business directory content.
CRWE‘s local and national coupon distribution application “Roxzu” (www.roxzu.com) is in its product development stage and is currently online being test marketed for the Las Vegas, Nevada region. Roxzu’s restaurant dining app will also features live dining and restaurant deals.
After testing and review, the application is expected to be integrated in all the geo community CRWE-PR network sites by the end of the 2Q of 2014.
CRWE has plans to expand the application to include auto repairs, realtors, bars, movie theaters, retailers, golf courses, auto dealerships and any other variety of businesses existing within a community.
The CRWE Network, based on the momentum the industry has taken in positioning itself for additional grow in the future, is in the process of building an online medical marijuana informational and directory search platform (www.medicalmarijuana.crwe-pr.com). The purpose of the site is to connect people with information in reference to the industry and patients to a network of physicians, dispensaries and more in reference to States with approved Medical Marijuana usage.
More about Crown Equity Holdings Inc. (CRWE) at www.crownequityholdings.com or the CRWE Network at www.CRWE-PR.com
Marchex, Inc. (MCHX)
For the first quarter 2014, MCHX posted GAAP revenue of $50.5 million, compared to $34.7 million in the same period the prior year, GAAP net income from continuing operations of $846,000, versus $116,000 for the first quarter of 2013, and GAAP net income from continuing operations attributable to common stockholders per diluted share of $0.02, compared to $0.00 in the first quarter ended March 31, 2013.
MCHX is a mobile advertising technology company. It provides a suite of products and services for businesses that depend on consumer phone calls to drive sales. MCHX’s mobile advertising platform delivers new customer phone calls to businesses, while its technology analyzes the data in these calls to help maximize ad campaign results.
More about Marchex, Inc. (MCHX) at www.marchex.com
AstraZeneca PLC (AZN)
The board of directors of AZN rejected Pfizer's $106 billion takeover bid just hours after it was levelled, describing it as inadequate.
Pfizer offered 50 pounds ($84.47) a share in cash and stock. The offer was a 7.3 increase on a previous bid of $100 billion..
AZN is a global, innovation-driven biopharmaceutical business that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, infection and neuroscience diseases.
More about AstraZeneca PLC (AZN) at www.astrazeneca.com.
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