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May 5, 2005 | From Times Wire Services
Shares of Renovis Inc. more than doubled Wednesday after an experimental medicine for stroke developed by the South San Francisco company showed promise in a large clinical trial. But analysts said the drug, called Cerovive, needed further study and would not reach the market before 2007. Renovis has licensed the drug to AstraZeneca, an Anglo-Swiss drug maker. The companies said Cerovive reduced disability in acute ischemic stroke patients as measured by the Modified Rankin Scale.
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BUSINESS
May 5, 2005 | From Times Wire Services
Shares of Renovis Inc. more than doubled Wednesday after an experimental medicine for stroke developed by the South San Francisco company showed promise in a large clinical trial. But analysts said the drug, called Cerovive, needed further study and would not reach the market before 2007. Renovis has licensed the drug to AstraZeneca, an Anglo-Swiss drug maker. The companies said Cerovive reduced disability in acute ischemic stroke patients as measured by the Modified Rankin Scale.
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BUSINESS
February 6, 2004 | From Times Staff and Wire Reports
Investors gave warm receptions to five initial public stock offerings Thursday after snubbing two issues earlier in the week. The latest deals fueled optimism that the long list of firms hoping to go public this year would find an audience for their shares. * Thursday's IPOs: * Insurance giant Assurant Inc. (ticker symbol: AIZ) jumped $2.70 to $24.70 on the New York Stock Exchange after selling 80 million shares at $12 each. * Offshore driller Todco (THE) rose $1.70 to $13.70 on the NYSE.
BUSINESS
June 1, 2005 | From Bloomberg News
Shares of Renovis Inc., a biotechnology company that went public last year, slid 23% Tuesday after study data presented over the weekend on its Cerovive stroke drug disappointed investors, an analyst said. Renovis fell $3.90 to $13.20. The stock almost doubled May 4 when the South San Francisco-based company and partner AstraZeneca released preliminary results showing Cerovive was effective.
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