BUZZ-U.S. Stocks on the Move-ZS Pharma, Insmed, MeetMe, BlackBerry
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U.S. stocks were little changed Wednesday, on the heels of a three-day winning streak for the S&P 500 index. The Dow Jones industrial average was down 0.24 percent at 16,768.94 and the S&P 500 was down 0.07 percent at 1,940.64.
** ZS PHARMA INC, $27.89, +54.94 pct
The biopharmaceutical company's shares up 51.7 percent at $27.42 in their debut, valuing the company at about $514 million. ZS Pharma raised $90 million after its IPO of 5 million shares was priced at $18 per share, higher than the expected range of $15-$17
** INSMED INC, $17.39, +39.51 pct
U.S. FDA granted breakthrough therapy designation to the drug developer's experimental lung infection drug. The designation can accelerate review for drugs that show substantial benefit over available therapies.