PDL BioPharma Inc (NASDAQ:PDLI), a biotechnology company, said Friday it has received $30.3 million, in addition to previously received revenue interest payments, to conclude its revenue-interest agreement with regenerative-medicine company AxoGen (AXGN). The structured-financing transaction had been agreed upon in October 2012. Under the agreement, PDL BioPharma Inc (NASDAQ:PDLI) provided AxoGen with about $20.8 million in exchange for royalties on certain AxoGen revenue.PDL CEO John P. McLaughlin noted the company also has increased its equity position in AxoGen, having acquired on Thursday 643,382 registered shares of AxoGen common stock in exchange for approximately $1.75 million under a privately negotiated stock-purchase agreement. PDL currently holds approximately 1.8 million shares of AxoGen common stock. "This marks the second concluded investment in our short history of acquiring revenue generating assets and we are pleased with the outcome," McLaughlin added. PDLI trades in a 52-week range of $2.11 to $5.20.Movado Group, Inc (NYSE:MOV) reported a sharp fiscal Q3 earnings and sales miss and cut its guidance for 2015 as sales of licensed watch brands such as Lacoste and Scuderia Ferrari didn't perform as expected. The watch maker said earnings in the quarter ended Oct. 31 are expected to slip to between $0.86 and $0.87 per diluted share from $0.89 a year ago and missing the $1.13 average estimate from analysts polled by Capital IQ. Sales are seen at $188.6 million, down from $189.7 million and also short of the $215 million consensus. For fiscal 2015, it expects net sales to increase 1% to 2% to between $585 million to $590 million with EPS of $1.80 to $1.85, that is sharply down from its previous guidance of sales to increase 10.7% to $640 million and for EOS of $2.44. Analysts have been expecting sales of $636 million and EPS of $2.43.Chief operating officer Rich Cote meanwhile said the retailer inventory build portion of the company's Movado / ESQ reallocation strategy did not fully materialize and licensed brands "substantially underperformed" as compared to expectations, naming specifically the Lacoste and Scuderia Ferrari brands. Movado Group, Inc (NYSE:MOV) is trading in the lower half of the 52-week range between $32.40 and $48.27.Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), a drug development company, announced its pilot Phase 2 study of revusiran found an up to 98.2% knockdown of serum TTR -- the disease causing protein TTR cardiac amyloidosis. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) has initiated its Phase 2 open-label extension study of revusiran, designed to evaluate the tolerability and clinical activity of revusiran with long-term dosing for up to two years. In addition to data on mortality, hospitalization, general tolerability, and knockdown of serum TTR, the study will assess a number of clinical endpoints every six months. ALNY has now completed its meetings with regulatory authorities from the U.S. and EU regarding the design of a Phase 3 trial for revusiran in TTR cardiac amyloidosis, and expects to initiate the study by the end of the year. Initial results of the Phase 2 study are being presented this weekend during the American Heart Association meeting in Chicago. Shares of ALNY are at $99.33 within a 52-week range of $47.03 - $112.57.
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