Healthcare Review: China Cord Blood Corp, La Jolla Pharmaceuticals, Trovagene, Exact Sciences, Advaxis Print E-mail
By Staff and Wire Reports   
Monday, 25 August 2014 14:23
The S&P 500 vaulted above 2,000 for the first time on Monday, with financials and biotechnology stocks lifting the benchmark index to a new record as investors bet on equities as a preferred asset over bonds. The significance of the milestone was more psychological than fundamental, and it represents the cumulation of a six-year rally that has boosted retirement accounts for Americans from Wall Street to Main Street, though the gains have largely benefited wealthier Americans. On a total-return basis the S&P 500 has more than tripled from its 2009 low hit during the financial crisis.

China Cord Blood Corp. ($CO) agrees to sell its outstanding 7% senior convertible note due 2017 to Magnum Opus International Holdings and large shareholder Cordlife Group Limited for $88.1M.Magnum Opus is controlled by CO Chairman Yuen Kam. It also involves the CO management team.The note was originally issued to the company by Golden Meditech in 2012 with an aggregate principal amount of $50M.

La Jolla Pharmaceuticals ($LJPC) reports the first patient enrollment in its Phase 1/2 clinical trial of LJPC-501 for the treatment of types 1 and 2 hepatorenal syndrome (HRS). The primary endpoint of the 15-patient study is safety and tolerability. Secondary endpoints are determining the maximum tolerated dose and the effects of LJPC-501 on serum creatinine through five days of treatment.

Nano cap Trovagene ($TROV) presented results from two studies at the International Papillomavirus Conference in Seattle. The first oral presentation entitled, "Evaluation of Two Urine-Based HPV Assays in Comparison to Cervical HPV Detection and High-Grade CIN Among Women Attending a Colposcopy Clinic," detailed the results from the company's HR-HPV urine-based cell-free DNA assay from 72 women with abnormal Pap smears. Trovagene says its test was superior to a commercially available HPV screening test and comparable to Pap smears although no specific numbers were disclosed.

The Mayo Clinic will offer Exact Sciences' ($EXAS) Cologuard as a screen for colorectal cancer. The test will be available to patients through their primary care physicians. It is the first health system to sign on to offer the test.

Shares of nan cap Advaxis ($ADXS) jump on a 6x surge in volume in response to its announcement of a clinical trial collaboration with Merck (MRK +1%) that will evaluate the combination of Advaxis' Lm-LLO cancer immunotherapy, ADXS-PSA with Merck's investigational anti PD-1 Ab, pembrolizumab.

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