Invivo Therapeutics Holdings Corp (OTCMKTS:NVIV) said the U.S. Food and Drug Administration (FDA) has approved various changes to the protocol for the company's ongoing IDE pilot trial for acute spinal cord injury (SCI), including expanding the number of allowable clinical sites to 20 from 6, and broadening the eligibility criteria. Shares of the development-stage company developing and commercializing technologies for the treatment of spinal cord injuries are up 4.49% at $0.93, with a 52-week range of $0.47 - $2.67.Invivo Therapeutics Holdings Corp (OTCMKTS:NVIV) said that with this approval, the upper end of the age range has been increased from 55 to 65, the spinal cord injury level has been expanded from T3-T11 to T3-T12/L1, the enrollment window has been extended from 10 to 21 days post injury, and the Body Mass Index upper limit has been increased from 35 to 39.Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) said it would sell 5 million common shares at $11.60, a 3.5% discount to Tuesday's closing price. The company expects to raise about $54.0 million, excluding any exercise of the underwriters' overallotment option, to fund sales and marketing to commercialize HETLIOZ in the U.S. for the treatment of Non-24-Hour Sleep-Wake Disorder. The funds will also be used for research and development activities and other general corporate purposes. Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock on the same terms and conditions. The stock recently traded at $11.90 with a 52-week range of $5.70 - $19.25.The Goodyear Tire & Rubber Company (NASDAQ:GT) reported Q3 adjusted earnings well above the Street view despite lower-than-expected revenue and said it expects 2014 growth in segment operating income to be near the high end of its targeted range of 10% to 15%. GT is trading in a 52-week range of $18.87 to $28.70. The Goodyear Tire & Rubber Company (NASDAQ:GT) posted Q3 net income available to common shareholders of $161 million, or $0.58 per diluted share, down from $166 million, or $0.62 per diluted share, a year earlier. However, its adjusted net income climbed to $0.87 per share from $0.68 per share a year earlier, topping the $0.70 per share expected by analysts polled by Capital IQ.Net sales slipped to $4.66 billion from $5.00 billion, missing the $4.93 billion expected by analysts. The sales were negatively impacted by $137 million in unfavorable foreign-currency translation. Also weighing on sales, tire unit volume declined 2% to 41.9 million. Original equipment unit volume was down 3%, primarily due to reduced vehicle production in Brazil. Replacement tire shipments were down 1%, "due primarily to a decline in North America where markets were disrupted due to significant stockpiling of imported low-end tires in advance of potential tariffs being imposed in 2015," the company said. Goodyear Tire reaffirmed its 2014-2016 financial targets, which include segment operating income growth of between 10% and 15% per year, and said it now anticipates segment operating income growth in 2014 will be near the high end of that range. The company also said it plans to acquire up to $150 million of its common stock under its existing share-repurchase program during Q4.
Discover Hidden Gems
Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.
