Healthcare Review: Bio-Matrix Scientific, MediJane Holdings, Biolase, Compugen, Insys Therapeutics Print E-mail
By Staff and Wire Reports   
Monday, 12 May 2014 16:14
U.S. stocks rose on Monday, with the Dow hitting another all-time high and the S&P 500 moving within 1 percent of its own record. Gains were broad, with nine of the 10 primary S&P 500 sectors in positive territory. About 78 percent of stocks traded on the New York Stock Exchange rose on the day while more than three-fourths of Nasdaq-listed stocks gained.

Bio-Matrix Scientific Group ($BMSN) subsidiary Regen BioPharma provides an update on its follow up on the FDA's issues regarding its HemaXellerate IND. On March 6, 2014 the company submitted a protocol modification, additional details on manufacturing, new data on the therapeutic effects of HemaXellerate I in animal models of diseases similar to aplastic anemia in humans and additional safety data to the FDA. The agency accepted the clinical protocol and product manufacturing information but requested clarification on the animal safety studies.

MediJane Holdings ($MJMD) appoints Russell G. Stone as COO. Since 2002, Mr. Stone has been a managing member and active principal of several companies that participate in a diversified array of investment opportunities.

Germany's Dusseldorf Court rules that Fotona's Fedelis dental laser infringes on Biolase's ($BIOL) patent "470 that has broad claims relating to the output of optical energy of lasers, specifically the conditions of laser-induced cutting of biological tissue where air-water spray is applied to the tissue for stimulation of mechanical cutting.The Court accepts Biolase's requests for injunctive relief, product recall, rendering of account and cash damages. The company may enforce the court's decision immediately.

Drug discovery firm Compugen ($CGEN) hires Mr. Avihai Shen as interim CFO replacing Ms. Dikla Czaczkes Axselbrad. Mr. Shen has extensive experience in various companies and began his career at Ernst and Young.

Shares of Insys Therapeutics ($INSY) continue their drop in heavy volume after Friday's 17% plunge. Investors are apparently heading for the exits in response to a bearish blog post by Bronte Capital questioning the firm's incentive sales tactics regarding its main product Subsys, a sublingual version of the opiate fentanyl. The company has delivered triple-digit sales growth over the past four quarters despite it being a "me-too" product. Bronte cites a Michigan doctor who is responsible

 




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