Healthcare Review: BrainStorm Cell Therapeutics, Ilumina, Novavax, MannKind Corporation, GSV Capital Print E-mail
By Staff and Wire Reports   
Friday, 06 June 2014 14:18
Wall Street stocks Friday moved higher in early trade after a US labor report showed solid jobs growth in May. About 25 minutes into trade, the Dow Jones Industrial Average rose 48.59 points (0.29 percent) to 16,884.70. The broad-based S&P 500 climbed 5.16 (0.27 percent) to 1,945.62, while the tech-rich Nasdaq Composite Index advanced 16.04 (0.37 percent) to 4,312.27. Both the Dow and the S&P 500 closed at record highs Thursday. The US economy added 217,000 jobs in May, about level with expectations. The unemployment rate held steady at 6.3 percent.

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.




"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

Add this page to your favorite Social Bookmarking websites
Digg! Reddit! Del.icio.us! Mixx! Google! Live! Facebook! Technorati! StumbleUpon! MySpace! Yahoo!

blog comments powered by Disqus
 

Newsletter