Boston, MA, 02/19/2014 – Prana Biotechnology Limited (ADR) (NASDAQ:PRAN): Shares of PRAN jumped significantly, almost touching 40 percent following announcement by the company that its experimental drug for brain disorder succeeded in the mid-stage trial. The drug is targeted at treating Huntington’s disease. Particularly, the drug met safety and tolerability goals during the study as was required. The drug could end up generating more than $500 million sales annually if approved. Currently the only drug approved for the treatment of Huntington’s disease called Xenazine recorded sales of $220 million in 2012. Thus, it means that PRAN’s drug has a higher revenue potential than the existing therapy. Besides shares of Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) jumping significantly on Nasdaq, a high volume of shares exchanged hands than normal average in the previous session.
Sunedison Inc (NYSE:SUNE) announced Tuesday that it has submitted a draft registration document to SEC regarding the proposed initial public offering (IPO) of a yieldco vehicle. The proposed IPO involves common stock of a yieldco. If all goes well, the IPO is expected to start soon after SEC completes the review of the process. The commencement of the process is also subject to market and other conditions as is always the case. Investors are wise to note that so far the price range and the number of common stock shares to be sold in the IPO has not yet been determined. Shares of Sunedison Inc (NYSE:SUNE) were a source of good news in the previous session whereby each share gained 96 cents or 6.75 percent to hit $15.18.
AT&T Inc. (NYSE:T) and IBM have announced that they are teaming up to take Internet of Things to a whole new level. The two giants have compatible technologies and infrastructure that makes their collaboration a lot more interesting. Even more interesting is the fact that they have their focus in smart cities rather than a go-to-market sort of thing. T will obviously bring its strong worldwide network into the game while IBM or the Big Blue if you like, would bring its software and hardware analyzing, visualizing and processing of all information coming from the sensors planted in the smart cities. Shares of AT&T Inc. (NYSE:T) lost 33 cents each to conclude the last session at $32.82 per share.