BUZZ-U.S. Stocks on the Move-Ambit, Tonix, Brazilian companies
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U.S. stocks were sharply lower on Monday, extending the previous week's decline on heavy volume as investors monitored the continued civil unrest in Hong Kong for any potential impact on Chinese growth. The Dow Jones industrial average was down 0.45 percent at 17,036.09 and the S&P 500 was down 0.35 percent at 1,975.85.
** AMBIT BIOSCIENCES CORP, $15.27, +86.22 pct
The drugmaker said Daiichi Sankyo Co Ltd will buy the company for $410 million, or $15 per share in cash. The company said the deal includes Ambit's lead blood cancer drug, quizartinib, which is currently in late-stage studies.
** TONIX PHARMACEUTICALS HOLDING CORP, $7.3042, -47.68 pct
The company said its lead pain drug had failed the main goal of a mid-stage study testing if it reduced pain experienced by patients by the 12th week of the trial.