|Protea Announces Alzheimer’s Research Collaboration with the University of Southampton, U.K.; Retrophin Set To Surge After Halt Lifted|
|By Staff and Wire Reports|
|Thursday, 29 May 2014 16:59|
Protea Biosciences Group, Inc. (OTCQB:PRGB) announced it has entered into a research collaboration with the University of Southampton, a leading biomedical and clinical research institution located in the United Kingdom. The collaboration will partner Protea’s proprietary direct molecular imaging technology and capabilities with a team of Alzheimer’s researchers at the University of Southampton, to study the molecular mechanisms of the aged brain, in order to identify markers that may indicate risk of developing Alzheimer’s disease.
The announcement was made today at the Third Annual Marcum Microcap Conference held in New York City.
Roxana Carare M.D., Ph.D., leading the Carare Research Group at the University of Southampton, U.K., Matthew Powell Ph.D. and Greg Kilby Ph.D. of Protea Biosciences, will serve as the Principal Investigators for this collaboration.
Roxana Carare, M.D., Ph.D., who leads the cerebrovascular ageing research group at the University of Southampton, commented, “We are delighted that the novel molecular techniques from Protea Biosciences will be applied to brain tissue. We anticipate that novel biomarkers for the early detection of Alzheimer’s disease or markers that identify the risk factors for developing Alzheimer’s disease will be discovered and make significant progress in the field of biomedical research.”
Steve Turner, Protea’s Chief Executive Officer stated, "It has been a strategic goal of Protea to apply our direct molecular imaging technology and expertise to the field of neurodegenerative disease, and we are pleased to be doing so with the University of Southampton. We believe that the capabilities of our technology to directly identify and image hundreds of molecules produced by cells from a single analysis has the potential to identify new biomarkers and therapeutic points of intervention for use in the development of new Alzheimer’s treatments and patient management tools.”
Retrophin (NASDAQ: RTRX) looks to be one of the largest gainers of the day after several critical announcements after the close Thursday.
Most importantly, the company announced a massive guidance increase as the company adds and FDA approved product to its portfolio. Full year 2014 revenue is expected to fall in the range of $30 million to $35 million, up from the previous estimate of $20 million to $22 million. The analyst consensus has been just $20 million.
Even more impressive is the guidance increase for 2015. Revenue is expected to range from $60 million to $70 million, 68.83 percent higher than the company’s previous estimate. Earnings for the quarter are expected to range from $0.75 to $1.25 per share.
Related: Retrophin Catches Eye: Stock Moves 7.9% Higher
Second most important is a $40 million senior secured loan and $40 million of 4.5 percent of senior convertible notes. The conversion rate is 57.43 shares per $1,000 of principal ($17.41 conversion price).
The press release states that the funds will be used to move forward with acquisitions.
Lastly, Retrophin has entered an agreement with Mission Pharmacal Company. Under the agreement Mission will market the company’s Thiola drug. "Thiola marks Retrophin’s first deployment of a salesforce, and the relationships we build with nephrologists will help as we prepare for the potential approval of sparsentan and RE-034. With the addition of this new product, we are increasing our financial guidance,” said CEO Martin Shkreli.
Shares are still halted.
3D Systems (NYSE:DDD) today announced its ProJet® 3510 MP 3D printer and proprietary VisiJet® Pearlstone dental material have been verified by 3Shape for prosthodontic dental model production.
Advaxis, Inc. (Nasdaq:ADXS), a biotechnology company developing cancer immunotherapies, and inVentiv Health Clinical, a leading global clinical research organization (CRO), announced today that they have entered into a master services agreement for the clinical development of certain immunotherapy product candidates in Advaxis's proprietary pipeline.
Alnylam Pharmaceuticals, Inc. (Nasdaq:ALNY), a biopharmaceutical company developing novel therapeutics based on RNA interference, or RNAi, will visit the NASDAQ MarketSite in Times Square.
BioReference Laboratories, Inc. (Nasdaq:BRLI) announced today it plans to issue earnings results for the second quarter 2014 before the open of market trading on Thursday, June 5, 2014.
CAS Medical Systems, Inc. (Nasdaq:CASM), a leader in medical devices for non-invasive patient monitoring, today announced that it has signed an agreement with Century Medical, Inc. to serve as the exclusive distributor of the Company's FORE-SIGHT ELITE® Cerebral Oximeters in Japan.
Cellectar Biosciences, Inc. (OTCQX:CLRB), a clinical stage biopharmaceutical company developing innovative agents for the detection and treatment of cancer, today announced the appointment of Chad J. Kolean as chief financial officer, effective May 28, 2014.
Curis, Inc. (Nasdaq:CRIS), an oncology-focused company developing novel drug candidates for the treatment of human cancers, today announced that the Company will present at the Jefferies 2014 Global Healthcare Conference at 9 a.m. ET on June 5, 2014, in New York City.
Galectin Therapeutics Inc. (Nasdaq:GALT), the leading developer of therapeutics that target galectin proteins to treat fibrosis and cancer, today announced that the Company will present at the Jefferies 2014 Global Healthcare Conference, to be held June 2-5, 2014, in New York, NY.
Hemp, Inc. (OTC: HEMP) announced it will sponsor "HempZone," an interactive business and educational venue at today's first annual Cannabis Capital Summit in Denver, Colorado.
IPC The Hospitalist Company, Inc. (Nasdaq:IPCM), a leading national hospitalist physician group practice company, announced today that it has acquired Eastside Medical Consultants, LLC (EMC), based in Wichita, Kansas.
Kraig Biocraft Laboratories, Inc. (OTCQB:KBLB), the leading developer of advanced spider silk based fibers, announced that its production evaluation team reported that the Company's genetically engineered spider silk, Monster Silk™, production program is thriving and is successfully accommodating a recent significant increase in the scale of production.
Lipocine Inc. (Nasdaq:LPCN), a specialty pharmaceutical company, today announced today announced Mahesh Patel, President and CEO, and Morgan Brown, Executive Vice President and CFO, will present a company overview at the Jefferies 2014 Global Healthcare Conference on Thursday, June 5, 2014 at 2:30 p.m. ET.
Merge Healthcare Incorporated (Nasdaq:MRGE), a leading provider of innovative enterprise imaging, interoperability and clinical systems that seek to advance healthcare, today announced that it has been honored as one of Healthcare Informatics' (HCI) Most Interesting Vendors of 2014.
NeoStem, Inc. (Nasdaq:NBS), a leader in the emerging cellular therapy industry, today announced results of a pooled analysis indicating that Melapuldencel-T, an investigational patient-specific immunotherapy for metastatic melanoma, may increase survival rates significantly for patients at the most advanced stages of the disease.
Nuvilex, Inc. (OTCQB:NVLX), a clinical-stage international biotechnology company providing cell and gene therapy solutions for the treatment of diseases, announced today that it has entered into an "At the Market" banking agreement with Chardan Capital Markets, LLC under which Nuvilex may seek to raise up to a total of $50,000,000 depending upon market conditions and at the discretion of Nuvilex.
Protea Biosciences Group, Inc. (OTCQB:PRGB) announced it has entered into a research collaboration with the University of Southampton, a leading biomedical and clinical research institution located in the United Kingdom.
RadNet, Inc. (Nasdaq:RDNT), a national leader in providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers, today announced that Mr. Mark Stolper, Executive Vice President and Chief Financial Officer, will be presenting at the Jefferies 2014 Global Healthcare Conference in New York, NY on Monday, June 2, 2014 at 10:30 a.m. Eastern Time.
The Spectranetics Corporation (Nasdaq:SPNC), a developer and manufacturer of single-use medical devices used in minimally invasive procedures within the cardiovascular system, today announced the pricing of its offering of $200 million aggregate principal amount of its 2.625% convertible senior notes due 2034 (the "notes") in an underwritten public offering.
Sucampo Pharmaceuticals, Inc. (Nasdaq:SCMP), a global biopharmaceutical company, today announced that it will webcast its corporate presentation at the 2014 Jefferies Global Healthcare Conference taking place Thursday June 5th, 2014 at 12:30 PM ET.
Xenetic Biosciences (OTCBB:XBIO), a biopharmaceutical company focused on developing next-generation biologic drugs and novel oncology therapeutics, announced today that the Company will be a featured presenter at the 3rd Annual Marcum MicroCap Conference on Thursday, May 29, 2014 in New York City at the Grand Hyatt Hotel.