Healthcare Review: Heron Therapeutics, Bruker Corp, Surgical, Shire, Aerie Pharmaceuticals Print E-mail
By Staff and Wire Reports   
Wednesday, 25 June 2014 14:11
Stocks on Wall Street rose on Wednesday despite disappointing U.S. economic data while German bond yields hit their lowest levels for the year as European investors moved toward safe havens. The dollar and Treasuries yields fell after data showed the U.S. economy contracted more than previously thought in the first quarter and durable goods orders unexpectedly fell in May, which contrasted with Tuesday's stronger-than-expected data for consumer confidence and new home sales. U.S. stock futures initially fell on the economic data, but stocks rose as trading progressed, with the S&P 500 and Dow hovering within striking distance of record levels.

Heron Therapeutics ($HRTX) prices its public offering of 4.5M shares of common stock at $11.75 per share. Underwriters over-allotment is 675K shares. Gross proceeds will be ~$60M (assumes full exercise of over-allotment). Net proceeds will be used for general corporate purposes including funding ongoing and future clinical trials. Closing date is June 30.A component of the deal is the offering of pre-funded warrants to certain existing large shareholders at a price of $11.74 per warrant to purchase an aggregate of 600K shares of common stock.

The China Food and Drug Administration clears Bruker Corp's ($BRKR) MALDI Biotyper System for sale in China. The system's matrix assisted laser desorption ionization-time of flight  mass spectrometer identifies microorganisms by measuring their molecular fingerprints and comparing them to a reference library of more than 2,300 species of gram-negative and gram-positive bacteria, anaerobes and yeasts.

Following April's FDA approval, Intuitive Surgical's ($ISRG) da Vinci Xi surgical system gets CE Mark clearance in Europe.  The new system is optimized for four-quadrant surgery. It enables efficient access through out the pelvis, abdomen and chest and incorporates enhanced ease-of-use features.

The U.S. District Court of New Jersey finds that Shire's ($SHPG) patents protecting ADHD drug Vyvanse (lisdexamfetamine dimesylate) are both infringed and valid in a lawsuit against five would-be generic competitors. The patents are valid until 2023. In order to launch their competing offerings, the generic firms must overturn each of the 18 patent claims (from four Orange Book-listed patents) on appeal.

Shares of Aerie Pharmaceuticals ($AERI) are up 23% in response to its announcement of successful results for its glaucoma drug candidate Roclatan in a 297-patient 28-day Phase 2b clinical trial. Roclatan is a combination of the company's triple-action Rhopressa and latanoprost, a prostaglandin analogue that is the most widely prescribed glaucoma drug.

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