Healthcare Review: Arrowhead Research, Navidea Biopharmaceuticals, Cellectar Biosciences, BrainStorm Cell Therapeutics, OncoMed |
![]() |
![]() |
By Staff and Wire Reports |
Friday, 13 June 2014 13:30 |
![]() Shares of Arrowhead Research ($ARWR -16.1%) are down on heavy volume in response to the patent award to Alnylam Pharmaceuticals ($ALNY -0.2%) expanding its McSwiggen patent estate for RNAi therapeutics. The just-awarded patent (no. 8,618,277) covers the development of RNAi therapeutics for HBV. One of Arrowhead's lead product candidates is ARC-520, an RNAi-based therapeutic for the treatment of chronic HBV infection. The FDA approves the use of Navidea Biopharmaceuticals' ($NAVB -7.4%) radioactive imaging agent Lymphoseek for use in sentinel lymph node biopsies. Sentinel lymph nodes are those closest to a primary tumor for cancer. This new indication allows for more limited lymph node surgery in patients with sentinel nodes negative for cancer. Cellectar Biosciences ($CLRB +8.6%) announces a 1:20 reverse split of its common stock effective at today's close of business. Post-split shares will begin trading Monday morning. The move will reduce the number of outstanding shares from ~57M to ~2.8M. The firm also decreases the number of authorized shares from 150M to 20M. BrainStorm Cell Therapeutics ($BCLI -10.9%) raises gross proceeds of $10.5M in a private placement of common stock and warrants. It sells 42M shares of common at $0.25 (15% discount). Buyers also receive warrants to purchase 42M shares of common at $0.348/share. They are immediately exercisable and have a term of three years. Shares of OncoMed ($OMED -19%) are down on higher volume in response to the company's announcement that it has voluntarily halted patient enrollment and dosing in two clinical trails due to higher-than-expected adverse events. In a Phase 1a study of vantictumab, 8 of 63 (13%) patients have experienced bone-related adverse events. In a Phase 1a study of Fzd8-Fc, 2 of 41 (5%) have experienced the same adverse events.
"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 ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |