|Healthcare Review: Daxor Corp, Aldeyra Therapeutics, Fibrocell Science, Northwest Biotherapeutics, StemCells|
|By Staff and Wire Reports|
|Thursday, 19 June 2014 13:46|
U.S. stocks edged lower on Thursday as investors digested the previous session's rally stoked by the Federal Reserve's commitment to low rates. The Dow Jones Industrial Average fell 23 points, or 0.1%, to 16883. The S&P 500 ticked down one point, or 0.1%, to 1956, after hitting an intraday record high in early trading. The Nasdaq Composite Index fell eight points, or 0.2%, to 4354. Traders said that Thursday's session was quiet after a busy Wednesday, when Fed Chairwoman Janet Yellen's upbeat view of the U.S. economy propelled the S&P 500 to its 20th all-time high of the year.
Daxor Corp's ($DXR) BOD votes to explore its strategic options including partnering with a larger company and/or a partial sale of the firm. It intends to engage an investment banker to expedite the process. The BOD also authorizes the renewal of the company's stock repurchase program of up to 250K shares.
Aldeyra Therapeutics ($ALDX) hires Stephen Tuilpano as its new CFO effective June 23, 2014. He joins the company from accounting and management advisory firm Three Tulips where he was a consultant. Prior to that, he was CFO at Javelin Pharmaceuticals.
Fibrocell Science ($FCSC) enters an exclusive license agreement with the Regents of the University of California whereby the company acquires the commercial rights to the discoveries and technologies resulting from its ongoing collaboration with UCLA. The partnership enables Fibrocell to expand its Personalized Biologics platform that uses human fibroblasts and stem cells to create patient-specific (autologous) localized therapies.
MD Anderson VP of Clinical Research Aman Buzdar, M.D., takes issue with Northwest Biotherapeutics' ($NWBO) trigger-happy behavior regarding disclosing preliminary and unconfirmed results from the ongoing DCVax clinical trial. The company has issued five press releases and conducted one conference call disclosing the results from individual cancer patients who have had single inoperable tumors injected with DCVax-Direct. This is problematic due to two issues: 1) the investigators have not reviewed or analyzed the data because patients are still being enrolled and treated and 2) NWBO's published "results" come from patient case report forms which the trial sites are obligated to send to the trial sponsor.
Shares of StemCells ($STEM) jump on heavy volume in response to its announcement of positive interim results from the Phase 1/2 clinical trial of its HuCNS-SC human neural stem cell platform in dry age-related macular degeneration (AMD), albeit on a small group of seven patients.