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Financialbussinessnews.US: FinancialBusinessNews.US: Stock News: PETM & THRX
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:20112008
PetSmart, Inc. (NASDAQ: PETM); Theravance, Inc. (NASDAQ: THRX)
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PetSmart, Inc. (NASDAQ: PETM) closed at $13.32 Wednesday, trading
3,793,400 shares.
Company News- November 19, 2008: PetSmart Reports Results for the Third
Quarter 2008
Yesterday PetSmart, Inc. (NASDAQ: PETM) reported net income of $35.8
million, or $0.28 per share, for the third quarter of 2008. That
compares with net income of $29.5 million, or $0.23 per share, for the
third quarter of 2007.
To read the full news release, go to www.stockprofiler.us, and click
the Headline link after entering the ticker symbol.
About PetSmart
PetSmart, Inc. is the largest specialty pet retailer of services and
solutions for the lifetime needs of pets. The company operates more
than 1,107 pet stores in the United States and Canada, 132 in-store
PetSmart PetsHotels cat and dog boarding facilities, and is a leading
online provider of pet supplies and pet care information
(www.petsmart.com). PetSmart provides a broad range of competitively
priced pet food and pet products; and offers complete pet training, pet
grooming, pet boarding, doggie day camp and pet adoption services.
Since 1994, PetSmart Charities , Inc., an independent 501(c)(3)
non-profit animal welfare organization, has funded more than $70
million in grants and programs benefiting animal welfare organizations
and, through its in-store pet adoption programs, has helped save the
lives of more than 3 million pets.
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Theravance, Inc. (NASDAQ: THRX) closed at $6.85 Wednesday, trading
1,254,500 shares.
Company News- November 19, 2008: Theravance Reports Favorable Outcome
of FDA Advisory Committee Meeting on Telavancin for the Treatment of
Complicated Skin and Skin Structure Infections
Theravance, Inc. (NASDAQ: THRX) announced yesterday that telavancin
received a favorable recommendation from the Anti-Infective Drugs
Advisory Committee (AIDAC) of the U.S. Food and Drug Administration
(FDA) for the proposed indication to treat complicated skin and skin
structure infections (cSSSIs) caused by Gram-positive bacteria,
including resistant pathogens such as methicillin-resistant
Staphylococcus aureus (MRSA). The Committee voted 21 to 5 that the data
presented demonstrate the safety and effectiveness of telavancin for
treatment of cSSSIs. The Committee also voted 18 to 5 (with 3
abstentions) that there are specific clinical situations in which the
benefits of telavancin use in pregnant women with cSSSI would outweigh
the risks, and 25 to 1 that a risk management strategy is needed to
prevent unintended use of telavancin in pregnant women or women of
child-bearing potential. Telavancin is a novel, bactericidal,
once-daily injectable investigational antibiotic discovered by
Theravance.
To read the full news release, go to www.stockprofiler.us, and click
the Headline link after entering the ticker symbol.
About Telavancin
Telavancin is a bactericidal, once-daily injectable investigational
antibiotic with a multifunctional mechanism of action. Telavancin was
discovered by Theravance in a research program dedicated to finding new
antibiotics for serious infections due to Staphylococcus aureus and
other Gram-positive bacteria, including MRSA. Telavancin inhibits the
formation of the bacterial cell wall and disrupts bacterial cell
membrane function. Theravance believes the additive mechanisms of
action seen with telavancin speed bacterial killing while also reducing
the risks of inducing resistance to telavancin or cross-resistance with
other antibiotics. If approved, telavancin will be a new treatment
option for serious Gram-positive cSSSIs. In addition, two Phase 3
studies of telavancin have been completed for the treatment of
hospital-acquired pneumonia bacterial infections.
About ATLAS 1 and ATLAS 2 Clinical Studies
The telavancin NDA is based on data from two large, multinational,
double-blind, randomized Phase 3 clinical studies designed to compare
the efficacy and safety of telavancin (10 mg/kg IV once daily) versus
vancomycin (1 gm IV q 12hr) in the treatment of cSSSIs caused by
Gram-positive bacteria. In both of these studies (ATLAS 1 and ATLAS 2),
which enrolled and treated 1,867 patients in total, 719 of whom had
infections with MRSA, telavancin achieved its primary endpoint of
non-inferiority relative to the standard of care, vancomycin. The
safety profile of telavancin in these studies was compatible with
treatment of patients with serious infections.
About the Telavancin Collaboration
In November 2005, Theravance entered into a collaboration arrangement
with Astellas Pharma Inc. for the development and commercialization of
telavancin worldwide except Japan. In July 2006, Theravance and
Astellas expanded the collaboration to include Japan. Under the terms
of the collaboration, Theravance will lead the development of and U.S.
regulatory activities for telavancin for the treatment of cSSSIs and
hospital-acquired pneumonia, and will collaborate substantially with
Astellas in marketing in the United States for the first three years.
Astellas will lead all other development, regulatory, manufacturing,
sales and marketing activities.
About Theravance
Theravance is a biopharmaceutical company with a pipeline of internally
discovered product candidates. Theravance is focused on the discovery,
development and commercialization of small molecule medicines across a
number of therapeutic areas including respiratory disease, bacterial
infections and gastrointestinal motility dysfunction. The company's key
programs include: telavancin for the treatment of serious Gram-positive
bacterial infections with Astellas Pharma Inc., the Horizon program and
Bifunctional Muscarinic Antagonist-Beta2 Agonist (MABA) program with
GlaxoSmithKline plc, and the Gastrointestinal Motility Dysfunction
program. By leveraging its proprietary insight of multivalency toward
drug discovery focused primarily on validated targets, Theravance is
pursuing a next generation strategy designed to discover superior
medicines in areas of significant unmet medical need. For more
information, please visit the company's web site at www.theravance.com.
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