The Medicines Company's Publishes Phase III Data of IV Cangrelor; Cubist Announces Proposed Offering of $600 Million Print E-mail
By Staff and Wire Reports   
Tuesday, 03 September 2013 19:19

Below is a look at some of the headlines for companies that made news in the healthcare sector on September 3, 2013.

The Medicines Company (NASDAQ: MDCO) reported presentation and publication of a pooled analysis of three Phase III clinical trials of an investigational intravenous (IV) antiplatelet, cangrelor. The trials compared IV cangrelor to either oral clopidogrel or placebo for prevention of thrombotic (clotting) complications during and after percutaneous coronary intervention (PCI). The findings of the pooled CHAMPION program confirm the results of the CHAMPION PHOENIX trial presented and published in April 2013.

 

This pre-specified, pooled analysis of patient-level data from CHAMPION-PCI, CHAMPION-PLATFORM, and CHAMPION-PHOENIX was presented at the European Society of Cardiology today and concurrently published in The Lancet.


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Cubist Pharmaceuticals, Inc. (NASDAQ:CBST)
announced its intention to commence an offering, subject to market and other conditions, of $600 million in convertible senior unsecured notes that are expected to be issued in two $300 million series, with one series maturing on September 1, 2018 (2018 notes) and the other series maturing on September 1, 2020 (2020 notes and together with the 2018 notes, the Notes). The Notes will be offered and sold to qualified institutional buyers pursuant to Rule 144A under the Securities Exchange Act of 1933, as amended. Cubist also expects to grant the initial purchasers of the Notes an option to purchase up to an additional $50 million aggregate principal amount of each series of the Notes.

The Notes will bear cash interest, payable semi-annually, beginning on March 1, 2014. The Notes will not be redeemable prior to maturity. The Notes will be convertible, only during certain periods and subject to certain circumstances, into cash, shares of Cubist common stock, or a combination of cash and shares of Cubists common stock, at Cubists election. Final terms of each series of the Notes, including interest rates, conversion rates, conversion prices, and certain other terms of the offering, will be determined at the time of pricing.

In connection with the pricing of the Notes, Cubist also expects to enter into one or more privately negotiated convertible note hedge transactions and warrant transactions with one or more of the initial purchasers or their respective affiliates (the option counterparties) in order to reduce the potential dilution with respect to shares of Cubist's common stock upon any conversion of the Notes and/or offset any cash payments Cubist is required to make in excess of the principal amount of converted Notes. If the initial purchasers exercise their option to purchase additional Notes, Cubist may enter into additional convertible note hedge and warrant transactions. The warrant transactions will have a dilutive effect with respect to Cubist's common stock to the extent that the market price per share of Cubist's common stock, as measured under the terms of the warrant transactions, exceeds the applicable strike price of the warrants, which is anticipated to be significantly higher than the closing price of Cubists common stock on the date the warrants are issued.

Cubist intends to use the majority of the net proceeds of the offering to fund its previously announced acquisition of Optimer Pharmaceuticals, Inc. (NASDAQ: OPTR) and to pay the cost of the convertible note hedge transactions (after such cost is partially offset by proceeds from the warrant transactions). The remaining net proceeds from the offering will be used for general corporate purposes.

Cubist has been advised that, in connection with the convertible note hedge and warrant transactions, the option counterparties or their respective affiliates expect to purchase shares of Cubists common stock and/or enter into various derivative transactions with respect to Cubists common stock concurrently with or shortly after the pricing of the Notes. This activity could increase (or reduce the size of any decrease in) the market price of Cubists common stock or the Notes at that time. In addition, the option counterparties or their respective affiliates may, from time to time following the pricing of the Notes and prior to the maturity of the Notes, enter into or unwind various derivatives with respect to Cubists common stock and/or purchase or sell Cubists common stock in secondary market transactions (and are likely to do so during any observation period related to a conversion of Notes). This activity could also cause a decrease or avoid an increase in the market price of Cubists common stock or the Notes.

The offer and sale of the Notes are not being registered under the Securities Act of 1933, as amended, or any state securities laws. The Notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and any applicable state securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the notes described herein, nor shall there be any sale of these notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of such jurisdiction.

 

 

Also Monday:
 

 


Anavex Life Sciences Corp. (OTCQB: AVXL)
today announced that Christopher U. Missling, PhD, President and Chief Executive Officer, will be presenting at the Rodman & Renshaw Annual Global Investment Conference on Monday, September 9, 2013 at 3:15 p.m. ET in Room 7.03 of the Millennium Broadway Hotel in New York.

Arch Therapeutics, Inc. (OTCQB: ARTH)
, today announced it will be featured as a presenting company at the 15th Annual Rodman & Renshaw Global Investment Conference.

Auxilium Pharmaceuticals, Inc. (Nasdaq: AUXL)
today announced that executive management will participate in the Morgan Stanley Global Healthcare Conference to be held September 9-11, 2013 at the Grand Hyatt Hotel in New York.

Baxter International Inc. (NYSE:BAX)
and Coherus Biosciences, Inc. today announced that they have entered into an exclusive collaboration to develop and commercialize a biosimilar to etanercept for Europe, Canada, Brazil and certain other markets.

BioLineRx (NASDAQ: BLRX) (TASE: BLRX)
, a biopharmaceutical development company, announced today that its Chief Executive Officer, Kinneret Savitsky, Ph.D., and its Chief Financial and Operating Officer, Philip Serlin, will be presenting at the 15th Annual Rodman & Renshaw Global Investment Conference at the Millennium Broadway Hotel in New York.

Can-Fite BioPharma (TASE: CFBI), (PINKSHEETS: CANFY)
, a biotechnology company with a pipeline of proprietary small molecule drugs that address inflammatory and cancer diseases, announced today that the Company's CEO, Dr. Pnina Fishman, will present at the Annual Rodman & Renshaw Global Investment Conference, Sponsored by H.C. Wainwright & Co.

Cempra, Inc. (Nasdaq:CEMP)
, a clinical-stage pharmaceutical company focused on developing antibiotics to meet critical medical needs in the treatment of bacterial infectious diseases, today announced that Mark Hahn, executive vice president and chief financial officer of Cempra, will present at Baird's 2013 Health Care Conference at 1:45 p.m. EDT, Sept. 11, at The New York Palace Hotel in New York, and at the Stifel Healthcare Conference 2013 at 8:35 a.m. EDT, Sept. 12, at the Four Seasons Hotel in Boston.

CML HealthCare Inc. (TSX:CLC)
announced that, at a special meeting of shareholders held today in Toronto, Ontario, its shareholders have approved the Plan of Arrangement (the "Arrangement"), which provides for LifeLabs Ontario Inc. ("LifeLabs") to acquire all issued and outstanding common shares of CML in exchange for $10.75 per common share in cash.

Greengro Technologies, Inc. (PINKSHEETS: GRNH)
, a world class provider of eco-friendly green technologies, has completed its business plan and is beginning fund-raising activities in conjunction with Controlled Environment Agriculture (CEA) specialist BP Gardens, Inc. to develop an aquaponics pilot project on a 4.5-acre property located at 7701 Knott Ave. in Buena Park, Calif.

HP Enterprise Services today announced the Rhode Island Executive Office of Health and Human Services (EOHHS) has signed a $89.9 million, five-year contract for HP (NYSE: HPQ) to continue as fiscal agent for Rhode Island's Medicaid program and additional state departments.

Immunomedics, Inc. (Nasdaq:IMMU)
, a biopharmaceutical company primarily focused on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases, today announced the appointment of Peter P. Pfreundschuh as Vice President, Finance and Chief Financial Officer.

InoLife Technologies, Inc. (OTCBB: INOL)
, a diversified service based healthcare and environmental product developer and marketer is pleased to inform our shareholders and potential investors the Company's focus as well potential opportunities for 2013 and looking forward into the next few years.

LeMaitre Vascular, Inc. (Nasdaq:LMAT)
is presenting at the Stifel Healthcare Conference 2013 at the Four Seasons Hotel in Boston, MA, on Thursday, September 12, 2013. David Roberts, President, will provide an update on the Company at 2:05 pm EDT.

Mast Therapeutics, Inc. (NYSE MKT: MSTX)
today announced that the Company's Chief Financial Officer, Brandi L. Roberts, will present at the Rodman & Renshaw 15th Annual Healthcare Conference, on Tuesday, September 10th, 2013 at 10:50 a.m. Eastern time in Room 7.03 at The Millenium Broadway Hotel in New York City.

MediSwipe Inc. (OTCQB: MWIP)
, the leader in Compassionate Care Technology Solutions for the medicinal marijuana industry and 800 Commerce Inc., an innovative online directory and mobile marketing company, today confirmed the record date of September 3, 2013 for the issuance of the stock dividend and spin off of 800 Commerce Inc.

Merus Labs International Inc. (TSX:MSL) (NASDAQ:MSLI)
today announced that Mr. Elie Farah, the President & CEO of Merus, will present at the upcoming 15th Annual Rodman & Renshaw Global Investment Conference. The conference, sponsored by H.C. Wainwright & Co., LLC, is being held September 8-10, 2013.

MMRGlobal, Inc. (OTCQB: MMRF)
today announced that MyMedicalRecords, Inc., a wholly owned subsidiary of MMRGlobal (collectively, "MMR"), has terminated the written Agreement it signed with WebMD Health Corp. and WebMD Health Services Group, Inc. (collectively, "WebMD") which MMR announced on June 7, 2013, in connection with the dismissal of MMR's patent infringement complaint.

MusclePharm Corporation (OTCQB: MSLP)
, a fast growing company that develops and markets sports nutritional supplements which address active lifestyles, announced today it has made a $2 million strategic investment in BioZone Pharmaceuticals, Inc. (OTCQB: BZNE) ("BioZone").

Mylan Inc. (Nasdaq: MYL)
today announced that its proposed acquisition of the Agila injectables businesses from Strides Arcolab Limited (BSE: 532531, NSE: STAR) has received approval from India's Foreign Investment Promotion Board (FIPB).

Neuralstem, Inc. (NYSE MKT: CUR)
announced that President and CEO Richard Garr will present at the 15th annual Rodman & Renshaw Healthcare Conference on Tuesday, September 10, at 11:40 a.m. EST, in Room 7.03, 7th Floor, of the Millennium Broadway Hotel in New York City.

OphthaliX Inc. (OTC BB: OPLID)
, announced today that the European Patent Office issued a Certificate of Grant of Patent for European Patent No. 1778239 entitled "Adenosine A3 receptor agonists for the treatment of dry eye disorders including Sjogren's syndrome".

PharmAthene, Inc. (NYSE MKT: PIP)
, a biodefense company developing medical countermeasures against biological and chemical threats, announced today that Eric I. Richman, President and Chief Executive Officer will present at the Rodman & Renshaw Annual Global Investment Conference on Monday, September 9, 2013 at 10:25 a.m. EDT in Room 7.03, 7th Floor of the Millennium Broadway Hotel, New York.

Rockwell Medical, Inc. (NASDAQ: RMTI)
, a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis, announced today that it will present at the annual Stifel Nicolaus Healthcare Conference on September 11th in Boston, MA.

Rockwell Medical (NASDAQ: RMTI)
, a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis, will host a conference call tomorrow, Wednesday, September 4th at 8:30am EDT to review top-line results from their Phase 3 (CRUISE-2) efficacy study of SFP, the Company's late-stage investigational iron-delivery drug for the treatment of iron deficiency in chronic kidney disease patients receiving hemodialysis.

LifeSci Advisors, LLC, a leading provider of investment research and investor relations services in the life sciences sector, today announced that it has initiated coverage of Receptos Inc. (NASDAQ: RCPT), a biopharmaceutical company developing treatments for immune diseases.

Oncothyreon Inc. (NASDAQ: ONTY)
today announced the initiation of an investigator-sponsored trial of ONT-380 in combination with trastuzumab (Herceptin®) in patients with brain metastases from HER2+ breast cancer.

Oramed Pharmaceuticals Inc. (NASDAQCM: ORMP)
, a developer of oral drug delivery systems, announced today that it has submitted a pre-Investigational New Drug (pre-IND) package to the U.S. Food and Drug Administration (FDA) for ORMD-0901, an orally administered exenatide capsule.  

OXiGENE, Inc. (Nasdaq:OXGN)
, a clinical-stage biopharmaceutical company developing novel therapeutics to treat cancer, announced that Peter Langecker, M.D., PhD., President and Chief Executive Officer, will present a corporate overview at the Rodman and Renshaw Annual Global Investment conference on September 9, 2013 at 11:15 ET at the Millennium Broadway Hotel, New York, NY.

Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX)
today announced that five abstracts from its cystic fibrosis (CF) research and development program will be presented at the 27th Annual North American Cystic Fibrosis Conference (NACFC) in Salt Lake City, Utah, October 17-19, 2013.




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