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Health and Healthcare

Biotech Busine$$ Daily (APPY, LIFC, KCI, MNOV, MCU)

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By Douglas A. McIntyre Published
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AspenBio Pharma (NASDAQ: APPY) entered into a definitive agreement with Novartis Animal Health for AspenBio’s recombinant single-chain bovine products for animals. Shares are up 4% to $6.24.

LifeCell (NASDAQ: LIFC)is to be bought by Kinetic Concepts (NYSE: KCI) for $1.7 billion in cash. The offer is for $51 per share and will allow Kinetic to access the rapidly expanding biosurgery market. Shares of LifeCell are up almost 17% to $50.44 on a 52-week range of $24.53 to $48.28. Kinetic is up almost 6% to $49.79 on a 52-week range of $40.90 to $66.77.

MediciNova (NASDAQ: MNOV) released clinical results on two-year Phase II study of MN-166 on multiple sclerosis. The study showed positive results however the market is not reacting accordingly. Shares are down $0.19, 5%, to $3.81 on a 52-week range of $3.27 to $10.71.

Medicure (AMEX: MCU) continuing to rise on positive results on Aggresat, a tirofiban, released last week. The results show that use of the treatment significantly improved heart attack survival. Today, shares are up over 17% to $0.10 on a 52-week range of $0.05 to $1.64.

Rachel Lopez
April 7, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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