Among the companies with shares expected to actively trade in
Monday's session is Achillion Pharmaceuticals Inc. (ACHN).
Achillion Pharmaceuticals said the U.S. Food and Drug
Administration has decided to not lift its clinical hold on
sovaprevir, the company's experimental hepatitis C treatment.
Shares plunged 45% to $3.99 in after-hours trading as the company
said the FDA's response indicated that while Achillion's submission
addressed all the issues noted in the FDA's June 29 letter, the FDA
concluded that the removal of the clinical hold is not
warranted.
Watchlist:
Companies reporting quarterly earnings on Monday include
Cal-Maine Foods Inc. (CALM), Diamond Foods Inc. (DMND) and Paychex
Inc. (PAYX).
Ingersoll-Rand PLC (IR) said Friday its security business unit,
Allegion, has completed $1.3 billion in financing using loans and
bonds. Allegion plans to use the net proceeds from the offering of
the notes and the senior secured term loan facilities to pay a
special cash distribution to Ingersoll-Rand prior to its proposed
spinoff, with any remaining amounts used for general corporate
purposes, said Ingersoll-Rand.
Write to Anna Prior at anna.prior@wsj.com
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