|Healthcare Review: Synergy Pharmaceuticals, TranS1 Inc, Cepheid, AEterna Zentaris Inc, Omeros Corporation|
|By Staff and Wire Reports|
|Friday, 28 December 2012 14:13|
Obama and lawmakers from both political parties will meet at the White House on Friday afternoon for talks in an effort to agree on a solution before a New Year's deadline to keep large tax hikes and spending cuts from taking effect. Economists say that combination of automatic higher taxes and lower government spending - known as the "fiscal cliff" - could push the U.S. economy into a recession.
Following are the notable movers at mid day on Friday:
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) slips 2% after saying it has completed a Phase I clinical trials of SP-333, a treatment for ulcerative colitis and other GI diseases. According to the results, SP-333 exhibited potent anti-inflammatory activity in animal studies, which the company believes can provide a new way to treat UC patients with mild to moderate disease. The company plans to start a multi-dose escalation trial in January.
TranS1 Inc. (NASDAQ:TSON) dips 2% after announcing a tentative $6M agreement with the DoJ to settle an investigation launched last year by the Department of Health and Human Services' Office of Inspector General. The investigation involved federal healthcare fraud and violating false claims statutes, for which the government issued a subpoena in October 2011 seeking company documents from January 2008 through October, 2011.
Cepheid (NASDAQ:CPHD) moves up 3% today after the company received FDA clearance for its Xpert CT/NG diagnostic test, for the rapid detection and differentiation of Chlamydia trachomatis and Neisseria gonorrhoeae.
Shares of AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) are now soaring, up over 17% on the back of earlier reports that it's reached an agreement with the FDA on a Special Protocol Assessment for Phase 3 trials of its endometrial cancer treatment doxorubicin eptide conjugate, or AEZS-108. The company says the agreement provides it with "a clearly defined development and regulatory pathway."
Omeros Corporation (NASDAQ:OMER) slumped 9% after reporting that results from its first Phase 3 clinical trial evaluating OMS103HP in patients undergoing arthroscopic knee surgery did not meet endpoints. However, the drug developer said its plans for another study remain on track for the first half of next year.