latest news releases from the newsroom
Achillion Pharmaceuticals, Inc.
New Data for Achillion's Elvucitabine Demonstrate Drug's Safety, Efficacy and Suitability for Combination Therapy in HIV-Infected Patients
NEW HAVEN, Conn., Jan. 31, 2008 (PRIME NEWSWIRE) -- Achillion Pharmaceuticals, Inc. (Nasdaq:ACHN), a leader in the discovery and development of small molecule drugs to combat the most challenging infectious diseases, today announced positive safety and efficacy results from two ongoing Phase 2 clinical trials studying elvucitabine in patients infected with Human Immunodeficiency Virus (HIV). Elvucitabine, Achillion's HIV product candidate, is an L-cytosine nucleoside analog reverse transcriptase inhibitor (NRTI) that has previously demonstrated potent antiviral activity against HIV, including strains resistant to other NRTIs.
Summit Financial Group, Inc.
Summit Financial Group Reports Earnings for the Year and Fourth Quarter 2007
MOOREFIELD, W.V., Jan. 31, 2008 (PRIME NEWSWIRE) -- Summit Financial Group, Inc. (Nasdaq:SMMF) today reported fiscal year and fourth quarter 2007 financial results from continuing operations, which excludes from income substantially all business activities of Summit Mortgage, its residential mortgage loan origination unit, which ceased operations in January 2007. Income from continuing operations for 2007 was $13.5 million or $1.85 per diluted share, an increase of 22.4 percent and 20.1 percent, respectively, compared with $11.1 million or $1.54 per diluted share reported for the prior-year. Excluding mark-to-market changes in fair value of interest rate swaps, income from continuing operations was $12.6 million for 2007 compared to $11.1 million for 2006. 2007 results from continuing operations reflect strong loan growth, well-controlled operating expenses and a stable net interest margin year-over-year.
Magma Design Automation
Magma Reports Record Revenue of $55.7 Million for Third Quarter
SAN JOSE, Calif., Jan. 31, 2008 (PRIME NEWSWIRE) -- Magma Design Automation Inc. (Nasdaq:LAVA), a provider of chip design software, today reported record revenue of $55.7 million for its fiscal 2008 third quarter ended Jan. 6, 2008, an increase of 23.6 percent over the $45.1 million revenue reported for the year-ago third quarter, ended Dec. 31, 2006.