|Healthcare Review: BrainStorm Cell Therapeutics, Ilumina, Novavax, MannKind Corporation, GSV Capital|
|By Staff and Wire Reports|
|Friday, 06 June 2014 14:18|
The first patient has been enrolled in BrainStorm Cell Therapeutics' ($BCLI) Phase 2 ALS clinical trial at Mass General Hospital in Boston. The study will evaluate the safety and efficacy of the transplantation of Autologous Mesenchymal Stem Cells Secreting Neurotrophic Factors ("MSC-NTF" or "NurOwn") in 48 ALS patients at three hospitals (Mass General, UMass Hospital in Worcester and the Mayo Clinic in Rochester, NY).
Ilumina ($ILMN) prices its offering of $550M aggregate principal amount 0% convertible senior notes due 2019 and $450M aggregate principal amount 0.5% convertible senior notes due 2021. Underwriters over-allotments are $82.5M of the 2019 notes and $67.5M of the 2021 notes. Closing date is June 11.
Novavax ($NVAX) prices its public offering of 25M shares of common stock at $4.00 per share. Underwriters over-allotment is 3.75M shares. Net proceeds of ~$94M will be used for general corporate purposes, the advancement of its clinical-stage vaccine candidates, its preclinical research programs, manufacturing and process development activities, CAPEX and other strategic purposes. Closing date is June 11.
MannKind Corporation ($NASDAQ:MNKD)’s shares gained 2.29% to $10.27. The company will present at upcoming conferences: Goldman Sachs 35th Annual Global Healthcare Conference on June 12, 2014 at 11:20 am (PT) at the Terranea Resortin Rancho Palos Verdes, California.
Uber has raised $1.2B at a whopping $17B pre-money valuation - well above the $10B valuation the app-based taxi service platform was reportedly targeting not too long ago.The funding round makes Uber, which receives a 20% cut on enabled taxi fares, nearly as valuable as LinkedIn, and more valuable than Yahoo after backing out its Alibaba/Yahoo Japan stakes. GSV Capital ($GSVC +4.3%), which has invested in Uber rival Lyft and plenty of other late-stage startups, has received a boost from the report. Google invested in Uber last year at a much lower $3.5B valuation.