|Healthcare Review: Aastrom Biosciences, Cubist Pharmaceuticals, Allergan, NeoGenomics, Mylan|
|By Staff and Wire Reports|
|Friday, 22 August 2014 20:29|
The S&P and Dow were weaker on Friday as tensions in Ukraine escalated and investors got few clues about the course of interest rates from Federal Reserve Chair Janet Yellen. Ukraine declared on Friday that Russia had launched a "direct invasion" of its territory after Moscow sent a convoy of trucks across the border into eastern Ukraine.
The peer-reviewed journal Circulation Research publishes Aastrom Biosciences' (ASTM +9.1%) Phase 2a clinical trial results for its heart failure therapy candidate ixmyelocel-T as a treatment for advanced heart failure due to ischemic dilated cardiomyopathy (DCM). The study entitled "Safety and Efficacy of Ixmyelocel-T: An Expanded, Autologous Multi-Cellular Therapy, in Dilated Cardiomyopathy" showed that treatment with ixmyelocel-T reduced the incidence of major adverse cardiovascular events (MACE) in patients with ischemic DCM.
The European Medicines Agency accepts Cubist Pharmaceuticals' (NASDAQ:CBST) Marketing Authorization Application for ceftolozane/tazobactam for the treatment of complicated urinary tract infections and complicated intra-abdominal infections. The European Commission should announce its decision by 2H 2015.
Allergan's (NYSE:AGN) request to advance its lawsuit against Valeant Pharmaceuticals (NYSE:VRX) and Pershing Square has been denied by a California federal judge. Allergan claims the two engaged in insider trading ahead of their takeover bid, saying their unusual partnership violated securities regulations.
NeoGenomics (NASDAQ:NEO) announces that the underwriters of its recent stock offering have exercised their option for an additional 1.05M shares of common stock at $4.60 per share. Net proceeds of the offering now total ~$34.6M which will be used for working capital, capex and general corporate purposes.
Mylan (NASDAQ:MYL) begins shipping its potassium chloride extended release tablets (8 mEq (600 mg) and 10 mEq (750 mg)), generic versions of Upsher-Smith's Klor-Con, for the treatment of patients with hypokalemia, with or without metabolic alkalosis, digitalis intoxication and hypokalemic familial periodic paralysis.