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Morning Buzz: Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), TETRA Technologies, Inc. (NYSE:TTI), Idera Pharmaceuticals Inc (NASDAQ:IDRA)

Morning Buzz: Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), TETRA Technologies, Inc. (NYSE:TTI), Idera Pharmaceuticals Inc (NASDAQ:IDRA)
Written by
Chris Sandburg
Published on
November 7, 2014
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Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) announced positive findings on a nasal aerosol as well as on an inhaler. TEVA is trading near the top end of the 52-week range between $36.90 and $58.87. The company said a phase 3 clinical study showed its QNASL nasal aerosol in children with perennial allergic rhinitis was safe and effective. It said patients treated with QNASL experienced a "significantly greater" improvement in allergic rhinitis symptoms than patients treated with placebo. It also said QNASL was well tolerated, with a safety profile comparable to placebo.Separately, Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) said four company-sponsored abstracts evaluating the safety and efficacy of albuterol multi-dose dry-powder inhaler, an investigational breath-actuated, dry-powder, short-acting beta-agonist (SABA) show that the safety profile of albuterol MDPI in these studies was comparable to both the placebo and albuterol HFA and consistent with that of the well-characterized profile of albuterol in subjects with asthma.TETRA Technologies, Inc. (NYSE:TTI) today announced Q3 2014 results that fell well short of the Street mark and resulted in a lowered guidance range for 2014 and Q4. Results from continuing operations attributable to TETRA stockholders were a net loss of $0.13 per share compared to earnings of $0.15 per share reported in the Q3 2013. Adjusted earnings were $0.12 per share, down from $0.28 per share last year. The Street expected earnings of $0.26 per share, according to Capital IQ estimates.TETRA Technologies, Inc. (NYSE:TTI) announced that it is reducing its earnings guidance for the 2014 fiscal year to a range of $0.23 to $0.28 per fully diluted share, whereas the Street expects $0.49 per share. For Q4, its earnings guidance range is $0.05 to $0.10 per fully diluted share. The Street is at $0.21 per share. TTI trades in a 52-week range of $8.66 to $13.43, with shares steady at $9.23.Idera Pharmaceuticals Inc (NASDAQ:IDRA) reported a Q3 loss that was in line with analysts' expectations and said it is expanding its rare disease development portfolio. The clinical-stage biotechnology company said its loss widened to $9.57 million from $5.1 million a year ago while on a per-share basis it was unchanged at $0.11 per share, in line with the average estimate from analysts polled by Capital IQ, amid a near doubling in the share count. Meanwhile, Idera said it plans to collaborate with Parent Project Muscular Dystrophy to develop a potential non-steroid-based anti-inflammatory treatment using Idera's Toll-like receptor (TLR) antagonism technology.It said that in a preclinical model of DMD, knockout of the gene for the MYD88 TLR adaptor protein led to significant improvements in skeletal and cardiac muscle function. And in a separate study, treatment with a TLR antagonist candidate led to a significant reduction of pro-inflammatory cytokines, a significant decrease in creatine kinase, and a significant increase in muscle strength in a preclinical DMD model. Idera Pharmaceuticals Inc (NASDAQ:IDRA) is trading in the lower half of the 52-week range between $1.65 and $6.87.

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