Healthcare Review: Skystar Bio-Pharmaceutical, InSite Vision, Pfizer, StemCells, BioMed Print E-mail
By Staff and Wire Reports   
Wednesday, 16 July 2014 14:02
Investors seized on strong company earnings and the latest wave of corporate deal news to push stocks higher in afternoon trading Wednesday. The major stock indexes were on track to close higher after coming to an uneven finish a day earlier. The Dow Jones industrial average rose 77 points, or 1.1 percent, to 17,137 as of 2:15 p.m. Eastern time. The Standard & Poor's 500 rose nine points, or 0.5 percent, to 1,982. The Nasdaq composite added 21 points, or 0.5 percent, to 4,438.

Skystar Bio-Pharmaceutical Company ($SKBI -6.3%) raises $5M in a direct offering of stock and warrants to an institutional investor. Under the terms of the agreement, the investor will purchase 790,514 shares of common stock at $5.06 per share and warrants to purchase up to 197,629 shares of common for an aggregate price of $4M plus 1,000 shares of convertible preferred stock and warrants to purchase 49,407 shares of common stock for an aggregate price of $1M.

The USPTO issues patent No. 8,778,999 to InSite Vision (OTCQB:INSV -17.4%) covering Bromfenac Non-Steroidal Ophthalmic Compositions Formulated in DuraSite. The patent protects both composition and method of treatment claims that will broadly cover all of the company's bromfenac product candidates. The patent extends until August 2029.

In a Phase 3 clinical trial comparing Pfizer's ($PFE +1.2%) BeneFIX Coagulation Factor IX (Recombinant) as a treatment for patients with moderately severe-to-severe hemophilia B to on-demand treatment, the once-weekly therapy achieved its primary endpoint of a statistically significant reduction in the annualized bleeding rate (ABR) versus on-demand.

StemCells ($STEM -1.4%) enters into a securities purchase agreement with two institutional biotech investors. It will sell up to 11,299,435 shares of its common stock and warrants to purchase up to 9,604,520 shares of common. Shares and warrants will be sold as a unit consisting of one share of common stock and one warrant to purchase 0.85 shares of common stock at an exercise price of $2.17 per share. Each unit will sell for $1.77. The warrants can be exercised six months from the date of issuance and will expire 13 months from the date of issuance.

The USPTO issues patent No. 8,771,701 entitled "Compositions for immunotherapy and uses thereof" protecting Prima BioMed's ($PBMD +9.8%) CVac technology. CVac is a personalized immunotherapy. The patent's term extends to August 2022.

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