Newsmakers: GeoVax Labs, Orexigen Therapeutics, Luminex, Navidea Biopharmaceuticals, Alexion Pharmaceuticals Print
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Wednesday, 15 October 2014 14:36

Stocks suffered their biggest losses in years and the dollar slumped on Wednesday after the latest inflation data from the United States and China fanned worries about a global slowdown, driving investors into safe-haven government debt.

The S&P 500 fell nearly 3%, putting it on track for its worst day in nearly three years, while European equities. The selloff wiped out all of the year's gains in major U.S. and European indexes, and a key gauge of Wall Street anxiety hit a three-year high as investors rushed to protect against further losses in markets.

Two institutional investors in thinly-traded nano cap GeoVax Labs (OTCQB:GOVX -9.7%) exercise warrants to each acquire 1,588,000 shares of common stock at $0.075 per share. The total of 3,176,000 shares represents 9.98% of the company's outstanding count.GOVX currently exchanges hands at $0.36. Its recent up move has been driven by "anything related to Ebola" traders.

Orexigen Therapeutics (OREX +6.4%) earns a $70M milestone payment from Takeda Pharmaceuticals (OTCPK:TKPHF -0.8%) (OTCPK:TKPYY -0.7%) triggered by the shipment of Contrave (naltrexone HCI and bupropion HCI extended release) to pharmacy wholesalers in preparation for commercial launch. It earned a $30M milestone triggered by FDA approval on October 7.

Luminex (LMNX -7.3%) President and CEO Patrick J. Balthrop, Sr. retires. Mr. Nachum "Homi" Shamir replaces him. Mr. Balthrop will serve as a consultant through April 14, 2015 to assist in the transition.Mr. Shamir was formerly President and CEO of Given Imaging before it was acquired by Covidien

The FDA approves Navidea Biopharmaceuticals' (NYSEMKT:NAVB) Lymphoseek (technetium Tc 99m tilmanocept) sNDA for its expanded use in mapping solid tumors and adding Sentinel Lymph Node detection for breast cancer and melanoma to its approved indications.

Alexion Pharmaceuticals (NASDAQ:ALXN) submits a New Drug Application to the Japanese Ministry of Health, Labour and Welfare for asfotase alfa, an enzyme replacement therapy for the treatment of hypophosphatasia (HPP).The Japanese regulator designated asfotase alfa an Orphan Drug in September 2014. As a result, the NDA will receive priority review. If approved, asfotase alfa will have 10 years' market exclusivity for HPP.

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