Active Stocks: pSivida, Galena Biopharma, Cytokinetics, Epizyme, Alexza Pharmaceuticals
By Josh Gee   
Monday, 27 October 2014 16:03

Stocks wavered around the unchanged mark in afternoon trade Monday, as investors paused following the biggest weekly gains for major indexes in more than a year. The Dow Jones Industrial Average recently fell four points, less than 0.1%, to 16801. The S&P 500 index eased four points, or 0.2%, to 1961. The Nasdaq Composite Index declined four points, or 0.1%, to 4479.

pSivida Corp.(NASDAQ:PSDV) receives a $25M milestone payment from Iluvien licensee Alimera Sciences triggered by the FDA's approval of the product for the treatment of diabetic macular edema. President and CEO Paul Ashton, Ph.D., says the payment together with cash on hand should be sufficient to fund operations into calendar 2017.

Galena Biopharma Inc. (NASDAQ:GALE) will report Q3 results on November 3 after the close. The conference call will begin at 2:00 pm PT/5:00 pm ET. Consensus view is a loss of ($0.11) on revenues of $2.7M.

Cytokinetics, Inc. (NASDAQ:CYTK) has enrolled over 275 patients towards its goal of 450 in the expansion phase of its COSMIC-HF clinical trial of omecamtiv mecarbil in heart failure and over 70 patients have completed the 20 weeks of dosing. The Data Monitoring Committee reviewed trial data and recommended the study's continuation without any changes to the protocol. Amgen holds and exclusive worldwide license to the product subject to Cytokinetics' specified development and commercialization rights.

Epizyme Inc. (NASDAQ:EPZM) Chief Medical Officer Eric Hedrick, M.D., resigns effective October 31, 2014. He will assist the company in an advisory capacity through the end of the year. Chief Development Officer Peter Ho, M.D., Ph.D., will continue to oversee the firm's clinical development, regulatory and translational medicine functions.

Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) and commercial partner Grupo Ferrer Internacional, S.A. amend their agreement for Adasuve (Staccato loxapine). Ferrer will purchase 2M shares of Alexza common stock at $4 per share thereby becoming its largest shareholder. The purchase represents a combination of new investment and consideration for the elimination of certain future milestone payments.

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