U.S. markets are struggling for direction so far this Tuesday, swinging from small declines to small gains. Investors are trying to make out exactly what is going on with the U.S. economy and the uncertainty surrounding the debt crisis in Europe. Here’s a brief look at some of the major movers in the U.S. so far today.
FiberTower (NASDAQ:FTWR) is posting a 15 percent gain so far today after Ted Weschler, who has been newly appointed to oversee a piece of Berkshire Hathaway’s investment portfolio, has interests in the wireless communications company. The newest member of Warren Buffets investment arm was previously acting as a managing partner at Peninsula Capital Advisors where he had accumulated a portion of the company as noted in the release of his portfolio holdings. The stock currently trades at $1.20 a share.
BioLine RX (NASDAQ:BLRX) soared by over 42 percent in morning trading after it released clinical data from its early stage testing for its drug candidate BL-1021. The BL-1021 drug is an orally administered treatment for neuropathic pain. The Phase 1 trial of the drug proved to demonstrate “safety and tolerability” according to the company’s CEO Kinneret Savitsky. BioLine’s stock price currently sits at $3.70 a share.
Cornerstone Therapeutics Inc. (NASDAQ:CRTX) is sitting more than 11.4 percent higher today following yesterday’s announcement of its findings from a study comparing all-cause, in-hospital mortality in more than 14,000 preterm infants with respiratory distress syndrome (RDS). The study showed that the company’s CUROSURF treatment for RDS was “associated with a significantly reduced likelihood of death compare to Infasurf, and a trend toward reduced mortality when compared with Survanta”. Cornerstone Therapeutics currently trades at $7.40 a share.
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