Alibaba Group Holding Ltd (NYSE:BABA) confirmed it sold that US$8 billion GMV (approximately RMB 48.9 billion) through Alipay on Alibaba's China and international retail marketplaces by 8:43 pm Hangzhou time on November 11 on Annual Singles' Day. Of the U.S. $8 billion, mobile GMV settled through Alipay accounted for 42.9%. Reuters earlier reported more than 39 billion yuan ($6.4 billion) worth of goods were sold 15 hours into the shopping event. It said Alibaba did 35 billion yuan in business a year ago and cited Tech research firm IDC as predicting that it would exceed $8.62 billion this year. Singles' Day is celebrated on Nov. 11 each year, chosen for the connection between young single Chinese people and the number '1'. It is now one of the largest online shopping days in the world, according to various reports.Coverage of Alibaba Group Holding Ltd (NYSE:BABA) has been initiated by analysts at Oppenheimer with an outperform rating, and a price target of $133 a share. The price target on the stock represents a potential upside of 12% from its Monday closing price. Shares of BABA are moving within a 52-week trading range of $82.81 - $119.45.Cancer Genetics Inc (NASDAQ:CGIX) said Tuesday it has received a second U.S. patent covering its proprietary FISH-based HPV-associated cancer test for cervical cancer detection in patients. The test is designed to assess change across four biomarkers indicating HPV-associated pre-cancers and cancers, and can help prevent unnecessary colposcopies and cervical biopsies, the cancer diagnostics specialist said in a statement. On Oct. 21, the United States Patent and Trademark Office granted Cancer Genetics Inc (NASDAQ:CGIX) a product design patent for the test's unique four-probe combination. The additional patent granted today covers the test's use on clinical patient samples.Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) said the U.S. Food and Drug Administration has granted a Fast Track designation for its TH-302 investigational drug to treat previously untreated patients with metastatic or locally advanced unresectable soft tissue sarcoma. The designation facilitates the development and expedites the review of drugs intended to treat serious or life-threatening conditions and that demonstrate the potential to address unmet medical needs."Our ongoing Phase 3 trial of TH-302 in these patients is being conducted under a Special Protocol Assessment with the FDA," Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) CEO Barry Selick said in a statement. "If successful, the Fast Track designation may provide an added benefit of facilitating the NDA review process. Currently, we anticipate the primary analysis of overall survival of the Phase 3 trial to be conducted in the first quarter of 2016."
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