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  • Geron (GERN) Myelofibrosis IST May Proceed, Merus Labs Intl (MSLI) Multimillion Bought Deal Financing, Restoration Hardware (RH) Solid Results 0 comments
    Jun 12, 2014 7:56 AM | about stocks: GERN, MSLI, RH

    http://static.cdn-seekingalpha.com/uploads/2014/6/12/saupload_gern.jpg Geron Corporation (NASDAQ:GERN)

    Myelofibrosis is a disorder in which fibrous tissue replaces the blood-producing cells in the bone marrow, resulting in extensive scarring in the bone marrow, leading to severe anemia, weakness, fatigue, and often, an enlarged spleen and liver.

    GERN reported that the FDA has removed the partial clinical hold on the investigator-sponsored clinical trial of imetelstat in myelofibrosis (Myelofibrosis IST).

    The partial clinical hold was placed in March 2014 due to a safety signal of hepatotoxicity that was identified in clinical trials of imetelstat. In order to resolve the partial clinical hold, the trial's investigator was required to provide follow-up information regarding reversibility of hepatotoxicity for all patients who received imetelstat in the Myelofibrosis IST.

    The FDA informed the investigator that it had completed the review of his complete response submission and concluded that the Myelofibrosis IST may proceed.

    Imetelstat inhibits the activity of telomerase, which is an enzyme present in most types of cancer that enables tumor cells to replicate indefinitely. GERN's potential anti-cancer strategy is to stop or slow down the growth and spread of tumors by inhibiting telomerase activity.

    GERN's Investigational New Drug (NYSE:IND) application for imetelstat remains on full clinical hold affecting the company`s clinical trials in essential thrombocythemia or polycythemia vera and in multiple myeloma. Until the FDA lifts the full clinical hold on GERN's IND, the company is unable to submit any new clinical trial protocols to the FDA under GERN's IND for imetelstat and is unable to initiate any new clinical trials for imetelstat in the United States. GERN is working diligently to seek release of the full clinical hold.

    http://static.cdn-seekingalpha.com/uploads/2014/6/12/saupload_gernch.png

    GERN is a clinical stage biopharmaceutical company developing a first-in-class telomerase inhibitor, imetelstat, in hematologic myeloid malignancies.

    More about Geron Corporation (GERN) at www.geron.com.

    **

    http://static.cdn-seekingalpha.com/uploads/2014/6/12/saupload_msli.jpg Merus Labs International Inc. (NASDAQ:MSLI)

    MSLI reported that it has entered into an agreement with a syndicate of investment dealers (Underwriters) pursuant to which the Underwriters have agreed to purchase 13,000,000 common shares from the treasury of the Company, at a price of $1.70 per share for aggregate gross proceeds of $22,100,000 and offer them to the public by way of prospectus supplement (Offering).

    In addition, MSLI has granted the Underwriters an option (Over-Allotment Option) to purchase up to an additional 1,950,000 Shares from the treasury of the Company at the offering price exercisable at any time up to 30 days following Closing, for market stabilization purposes and to cover over-allotments, if any.

    The net proceeds of the Offering will be used for future acquisitions and general working capital. Closing of the Offering is expected to occur on or about June 19, 2014 and is subject to regulatory approval

    http://static.cdn-seekingalpha.com/uploads/2014/6/12/saupload_mslich.png

    MSLI is a specialty pharmaceutical company engaged in the acquisition and licensing of pharmaceutical products.

    More about Merus Labs International Inc. (MSLI) at www.meruslabs.com

    **

    http://static.cdn-seekingalpha.com/uploads/2014/6/11/saupload_rh.jpg Restoration Hardware Holdings, Inc. (NYSE:RH)

    For the first quarter fiscal 2014, RH posted record financial results with net revenues of $366.3 million, a 22% increase year over year, adjusted operating income of $14.0 million, a 204% increase compared to the same period the prior year, adjusted net income of $7.2 million, representing a 217% increase from $2.3 million in the first quarter fiscal 2013, and adjusted diluted EPS of $0.18, a 200% increase versus $0.06 during the prior year period.

    RH has increased its net revenue guidance for fiscal 2014 to grow in the range of 20% to 22% from the original range of 18% to 20%, and expects adjusted net income to grow in the range of 33% to 37%.

    For fiscal year 2014, RH now expects net revenues in the range of $1.86 billion to $1.89 billion, adjusted net income in the range of $91.9 million to $94.3 million and adjusted diluted EPS in the range of $2.24 to $2.30

    http://static.cdn-seekingalpha.com/uploads/2014/6/11/saupload_rhchart.png

    RH is a luxury brand in the home furnishings marketplace offering furniture, lighting, textiles, bathware, d├ęcor, outdoor and garden, as well as baby & child products. RH operates an integrated business with multiple channels of distribution including Galleries, Source Books and websites.

    More about Restoration Hardware Holdings, Inc. (NYSE:RH) at www.rh.com

    **

    Read Full Disclaimer at www.finance.crwe-pr.com/disclaimer

    Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: GERN, MSLI, RH
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