|Healthcare Review: Baxano Surgical, Enertopia, Corgenix Medical, The Female Health Company, IsoRay|
|By Staff and Wire Reports|
|Monday, 14 July 2014 13:53|
U.S. stocks rose with European equities on an increase in takeover activity and Citigroup Inc. earnings. Treasuries and gold retreated, while Portuguese bonds advanced.
The Standard & Poor’s 500 Index added 0.5 percent to 1,977.68 at 1:25 p.m. in New York, after the gauge’s biggest weekly drop since April. Citigroup jumped 3 percent after reporting adjusted profit that topped estimates. Goldman Sachs Group Inc. boosted its year-end target for the U.S. equities benchmark to 2,050. The Stoxx Europe 600 climbed 0.9 percent as Shire Plc gained on deal news. The yield on 10-year.
Baxano Surgical ($BAXS) modifies its Purchase Agreement with Lincoln Park Capital Fund (LPC). The number of shares it has the right to sell LPC increases 25% to 125,000 and the aggregate amount it can direct LPC to purchase over the 36-month term increases to $8.2m from $7.0M. The floor closing price that the common stock must trade above in order to be eligible to be sold to LPC decreases to $0.50 per share from $1.00 per share.
Burlington, Ontario passes a bylaw allowing Enertopia ($ENRT) to produce, cultivate and sell medical marijuana under MMPR regulations. The company is currently in a joint (no pun intended) venture with Lexaria to establish a 30,000 sq.ft. production facility with an option for an additional 45,000 sq.ft.
Corgenix Medical Corp. ($CONX) signs a technology transfer and product development agreement with Mellitus LLC for an in vitro diagnostic test for Glycated CD59, a marker with potential utility in screening, diagnosing and monitoring diabetes. Under the terms of the agreement, Corgenix will develop a test kit to measure CD59 for Mellitus' U.S. and European Union commercialization programs.
In an effort to establish more sustainable and consistent growth in revenues and earnings, The Female Health Company ($FHCO) initiates several initiatives to support its growth strategy. President & CEO Karen King hires Susan Ostrowski as EVP of New Business Development responsible for the company's sales, marketing and sales support functions. Ms. Ostrowski will lead the commercialization efforts for the FC2 Female Condom.
IsoRay (NYSEMKT:ISR) reports that the company's first Cesium-131 seed was successfully implanted in Lima, Peru by neurosurgeon Dr. Carlos Alvarez. The patient was a 7-year old girl with a 3 cm inoperable Glioma brain tumor that was positioned close to the brainstem. Its size and location made surgery and radiotherapy undesirable options.