Healthcare Review:, Rexahn Pharmaceuticals, Organovo Holdings, Transition Therapeutics, Inovio Pharmaceuticals Print E-mail
By Staff and Wire Reports   
Wednesday, 24 July 2013 15:22
U.S. stock prices fell on Wednesday on disappointing results from several top companies, while stronger-than-expected U.S. and European factory data spurred selling in safe-haven U.S. and German government debt, sending their yields higher. Poor earnings from Caterpillar and AT&T overshadowed robust earnings from iPad and iPhone maker Apple and data showing a pick-up in U.S. manufacturing and new home sales., Inc. (NASDAQ:SPRT) shares gained 1.64% to $5.28. SPRT and Soonr, a leading provider of secure file sharing and collaboration services for business, on July 16 announced that they are expanding their relationship to include set up and support services for Soonr Workplace. The combined solution will be offered through partners who serve the small business market.

Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) shares declined 10.24% to $0.530. The company on July 24 announced that it has received commitments from a single healthcare dedicated institutional investor to purchase an aggregate of approximately $5.7 million of the Company's common stock.

The Company entered into definitive purchase agreement with this investor pursuant to which the Company agreed to sell an aggregate of 11,400,000 shares of its common stock and warrants exercisable for up to approximately 3,990,000 additional shares of its common stock.

Organovo Holdings Inc. (NYSEMKT:ONVO) stock dropped 4.14% to $6.95. ONVO and Methuselah Foundation, a public charity incentivizing innovation in regenerative medicine, on July 24 announced that Methuselah Foundation has initiated a campaign in which it will fund research at major research institutions using Organovo's proprietary NovoGen Bioprinting technology. The program will feature grants of research funding from the non-profit Methuselah Foundation to major academic research centers engaged in cutting edge biomedical research.

Transition Therapeutics Inc. (USA) (NASDAQ:TTHI) shares jumped 13.35% to $4.50. The company on July 23 announced the exclusive licensing of worldwide rights to a novel small molecule transcriptional regulator ("TT-601") from Eli Lilly and Company for the treatment of osteoarthritis ("OA") pain.  TT-601 is a potent and selective ligand for a novel nuclear receptor target. Modulating the activity of this novel target in patients with osteoarthritis may provide pain relief to a large segment of OA patients who do not have adequate response to therapy with NSAIDs (non-steroidal anti-inflammatory drugs).   TT-601 has completed preclinical development to date and Transition anticipates can enter the clinic in the first half of 2014.

Inovio Pharmaceuticals Inc. (NYSEMKT:INO) shares jumped 9.09% to $1.38. The company on July 24 announced that in a preclinical study with two animal models, Inovio's hTERT (human telomerase reverse transcriptase) DNA cancer vaccine administered with Inovio's CELLECTRA® adaptive electroporation delivery technology generated robust and broad immune responses, broke the immune system's tolerance to its self-antigens, induced T-cells with a tumor-killing function, and increased the rate of survival.

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