Medgenics Inc (NYSEMKT:MDGN) shares jumped Wednesday, after the medical-technology and therapeutics company released encouraging initial data on the first three patients enrolled in its open-label study of MDGN-201 for anemia in end-stage renal disease patients, and reported its Q3 net loss narrowed from a year earlier as expenses declined. Medgenics Inc (NYSEMKT:MDGN) trades in a 52-week range of $4.71 to $9.00."The platform is delivering sustained, physiologically relevant levels of endogenous erythropoietin (eEPO), which in turn is maintaining hemoglobin within the desired range," said Garry Neil, chief scientific officer of Medgenics. "Based on these results, we plan on initiating programs in identified orphan populations of unmet need, including end stage renal disease (ESRD) patients who are poorly responsive to recombinant humanized erythropoietin (rHuEPO), and Beta Thalassemia Intermedia patients." Neil said the company plans to initiate Phase 2 proof-of-concept clinical trials in both of the indications in 2015 and expected initial results in the second half of 2015. The company is also exploring additional orphan indications for MDGN-201, he added.For Q3, the company posted a net loss of $3.0 million, or $0.16 per share, compared with a net loss of $6.1 million, or $0.33 per share, in the year-earlier period. The narrower loss came as gross research and development expenses for the quarter decreased to $2.3 million from $2.5 million for same period in 2013. This decrease was due mainly to a decrease in subcontractor costs, the company said. Net R&D expenses declined to $1.6 million from $2.3 million and general and administrative expenses slipped to $2.3 million from $2.6 million. The company isn't generating revenue yet.Fidelity National Information Services (NYSE:FIS) received an investment rating of market perform Wednesday from BMO Capital Markets, which initiated coverage of the provider of banking and payments technologies with a price target of $59 per share. The price target is 11% above the stock's Tuesday closing price of $53.31. Fidelity National Information Services (NYSE:FIS) have a 52-week range of $45.62 to $58.86."While the legacy businesses of FIS are relatively well understood (core processing, bill payment, and digital banking), we believe emerging growth channels could have a more meaningful impact on FIS's evolution," BMO told clients in a note. "These include international expansion, payment hubs (i.e., Clear2Pay), retail payment processing for the MCX mobile payment platform, and further integration of consulting and strategic services."Canadian Solar Inc. (NASDAQ:CSIQ) said it signed a sales contract to supply solar PV modules to two utility scale projects in Honduras. Financial details of the sales contract were not disclosed. Each project powers approximately 73.2 MWp, with the total being 146.4 MWp. The two projects will be built in the southern region of Honduras between December 2014 and March 2015. Canadian Solar Inc. (NASDAQ:CSIQ) is moving within a 52-week range of $20.47-$44.50.
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