WorldGate's initial public offering: What a cliff hanger

Article Abstract:

After a rocky start, WorldGate's initial public offering garnered $105 million, selling 5 million shares. Analysts were nervous as they watched stock prices seesaw up from $21/share to $30/share and then fall again to $25. If the prices had fallen below $21/share, it would've meant failure for WorldGate. CEO Hal Kisbergh, who owns 6.5 million shares is hoping the IPO will bolster the company so it can compete with giants like Bill Gates' WebTV and @Home, an AT&T venture. WorldGate offers web services through the television via the cable system versus telephone, giving customers faster internet service.

Communications, Broadcasting and Telecommunications, Organizational history, Telecommunications industry, WorldGate Communications Inc.

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Cephalon stock drops with drug's prospects

Article Abstract:

Cephalon Inc. shares fell $1.188, or 18%, on Sep. 15, 1998, on the Nasdaq to $5.25 after the company announced the withdrawal of its application to market Myotrophin, a drug for Lou Gehrig's disease, in Europe. Cephalon of West Chester, PA, and another drug company, Chiron Corp., recalled their applications because the European Medicines Evaluation Agency did not consider the existing studies as proof of Myotrophin's effectivity. The drug application for marketing in the US has likewise been delayed because of similar concerns.

Comment:

Its shares fell $1.188 to $5.25 after it announced the withdrawal of its application to market Myotrophin in Europe

Pharmaceutical Preparation Manufacturing, Securities issued, listed, Muscle System Preparations, Cephalon Inc., Article

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