Healthcare Review: Pfizer, OxiGENE, IsoRay, Biolase, Medbox Print E-mail
By Staff and Wire Reports   
Friday, 16 May 2014 19:21
U.S. stocks slipped on Friday, trimming some of their earlier declines after some positive earnings, though investors remained wary of lingering weakness in small-cap names. Despite the S&P 500 hitting a record on Tuesday, the indexes were on track for a negative week, with small-caps down for a fourth straight session.

Pfizer ($PFE) will submit an FDA new drug application for the use of its Palbociclib drug, together with Letrozole, for the "treatment of post-menopausal women with estrogen receptor positive (ER+), human epidermal growth factor receptor 2 negative (HER2-) locally advanced or metastatic breast cancer."The decision stems from the results of Pfizer's Paloma-1 Phase 2 trial for Palbociclib/Letrozole. An NDA submission is expected in early Q3.

OxiGENE ($OXGN) promotes CSO David Chaplin, Ph.D., to President and CEO replacing Peter Langecker, M.D., Ph.D. No details are disclosed explaining why Dr. Langecker resigned yesterday.

Shares of nano cap IsoRay ($ISR) are off in early trading in response to its fiscal Q3 earnings report that missed consensus views of ($0.03). Prostate treatment revenues comprise 83% of its top line. Prostate-specific revenues dropped and were flat on a 9-month comparative basis. Revenues: $1.1M (-11.1%); gross profit: $50.9K (-72.6%); operating loss: ($989.0K) (-20%); net loss: ($2.1M) (-191%); loss/share: ($0.05) (-150%).Consensus revenue estimates for 2014 and 2015 are $4.5M and $5.7M, respectively.10 funds have positions, up from 9 a year earlier.

Biolase ($BIOL) Chairman and CEO Federico Pignatelli publishes his response to Oracle Partners' May 14 press release criticizing the company for another lackluster quarter and for what it perceives as his misguided efforts to retain control of the firm. Mr. Pignatelli accuses Oracle Partners of a blatant attempt to gain control of the BOD so it can push through a dilutive financing plan while avoiding paying a premium to market. He says Oracle's lawsuit to block BIOL's shelf offering is merely a tactic to prevent diluting its current stake.

The U.S. Patent and Trademark Office (USPTO) issues a notice of allowance to Medbox ($MDBX) for a "seed-to-sale" medical marijuana dispensing system. The system verifies the identity of the patient/consumer receiving the medication, it monitors the dispensing of the medication, it tracks the development of the product including the location of the seeds acquired, the cultivation and harvesting of the plant and the conversion into the final product and it supports a complete biometric chain of custody through the company's Secure-Safe technology for added security and transparency.

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