04:13 PM EST - Velan Inc. : reported net income for the first quarter of $37.9 million, or $1.70 per share, compared to $1.4 million, or $0.06 per share, in the prior year. Net sales for the quarter declined 7.7% to $86.9 million from $94.1 million in the last year quarter. Velan Inc.
shares T.VLN are trading up 99 cents at $11.99.
