Chembio Falling After Failing To Provide Timeline On Product Deployment; Ambit Announces Expiration of Hart-Scott-Rodino Waiting Period Print E-mail
By Josh Gee   
Tuesday, 28 October 2014 21:28
Below is a look at some of the headlines for companies that made news in the healthcare sector on October 28, 2014.
Shares of biotech Chembio Diagnostics (NASDAQ: CEMI) got a dramatic boost in the arm. The Medford, NY, based firm announced a partnership with Integrated BioTherapeutics, Inc to develop and continue to maintain “...exclusive rights to any POC (Point of Care) product developed through [the company's] agreement.”  

Chembio will combine its patented DPP(R) technology with IBT's proprietary Ebola reagents to develop POC diagnostic tests for Ebola and febrile illness.

Concerns on the timeline, and costs of product deployment is providing resistance to the upside.

The company did offer a press release on Tuesday; however, this was related to tests for Dengue Fever and a specific type of cancer and not related to the item from Monday.

Shares, as of printing,  down 6% and trading  is at a robust pace. Volume is up over 60 percent, when compared to CEMI’s average 3 month trading volume.

 

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Ambit (NASDAQ: AMBI)
announces the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR") in connection with Daiichi Sankyo's previously announced tender offer for all of the outstanding common stock of Ambit Biosciences (hereinafter, the Tender Offer).
Expiration of the HSR waiting period satisfies one of the conditions to the closing of the Tender Offer. Completion of the Tender Offer is also conditioned on the acquisition of one share more than 50 percent of Ambit Biosciences' outstanding common stock (including shares issuable pursuant to options and warrants for which Ambit Biosciences has received exercise notices) and other customary closing conditions.

Daiichi Sankyo, through its wholly-owned U.S. subsidiary, Charge Acquisition Corp., launched the Tender Offer on October 10, 2014 to purchase the outstanding shares of Ambit Biosciences' common stock for $15.00 per share plus one non-transferable contingent value right per share that will entitle the holder thereof to a maximum payment of $4.50 upon the achievement of certain commercialization related milestones regarding quizartinib. Failing any extension to the offer period, the offer is due to expire at 5:00 P.M. U.S. Eastern Time on November 10, 2014.


 
Also Monday:


 
Adamas Pharmaceuticals, Inc. (Nasdaq:ADMS)
today announced that it has initiated an additional Phase 3 safety and efficacy study evaluating ADS-5102 for the treatment of levodopa-induced dyskinesia (LID) in patients with Parkinson's disease. ADS-5102, an investigational agent, is a high dose, controlled-release version of amantadine HCl administered once daily at bedtime.

Analogic Corporation (Nasdaq:ALOG)
, enabling the world's medical imaging and aviation security technology, demonstrated its new bk3000™ ultrasound system at the American College of Emergency Physicians (ACEP) Scientific Assembly, October 27–30, in Chicago.

AngioDynamics (Nasdaq:ANGO)
, a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, today announced the Germany Ministry of Health has issued an OPS (a procedure classification code) for the company's NanoKnife System.

Biota Pharmaceuticals, Inc. (Nasdaq:BOTA)
announced today that management will host a conference call on Friday, November 7, 2014 at 9:00 a.m. EST to review the Company's first quarter financial results and provide an update on recent corporate developments.

CareTrust REIT, Inc. (Nasdaq:CTRE)
today announced that it has agreed to acquire a three-facility assisted living and memory care portfolio from Cross Healthcare, LLC, one of Idaho's best-known and best-regarded assisted living and seniors housing operators.

CAS Medical Systems, Inc. (Nasdaq:CASM)
, a leader in medical devices for non-invasive patient monitoring, today announced it will report financial results for the third quarter of 2014 on Tuesday, November 4, 2014, prior to the market's opening.

Celator Pharmaceuticals, Inc. (Nasdaq:CPXX)
, a biopharmaceutical company that is transforming the science of combination therapy and developing products to improve patient outcomes in cancer, today announced the closing of an underwritten public offering of 7,602,823 shares of common stock and warrants to purchase up to 760,282 shares of its common stock, including the exercise in full of the underwriters' over-allotment option to purchase up to an additional 991,673 units.

Cellular Dynamics International, Inc. (Nasdaq:ICEL)
today announced that the company will host a webcast and conference call to discuss its financial results for the third quarter ended September 30, 2014.

CombiMatrix Corporation (Nasdaq:CBMX)
announced today that it will release its third quarter 2014 financial results on Tuesday, November 4, 2014.

Curis, Inc. (Nasdaq:CRIS)
, an oncology-focused biotechnology company developing novel drug candidates for the treatment of human cancers, today announced the receipt of a Notice of Allowance of a U.S. patent that covers a broad genus of compounds that target histone deacetylase (HDAC) and phosphoinositide 3-kinase (PI3K) activities in a single chemical structure including CUDC-907, Curis' oral, dual HDAC and PI3K small molecule inhibitor that is currently being studied in Phase 1 clinical trials.

Ekso Bionics Holdings, Inc. (OTCQB:EKSO)
, a robotic exoskeleton company, announced today that it has been awarded a P20 Exploratory Grant from the National Institutes of Health (NIH) to continue the development of an exoskeleton prototype for children.

LeMaitre Vascular, Inc. (Nasdaq:LMAT) today reported Q3 2014 results, provided guidance and announced a $0.035/share dividend.

Loxo Oncology, Inc. (Nasdaq:LOXO)
, a biopharmaceutical company focused on developing targeted cancer therapies for genetically-defined populations, today announced the promotion of Jennifer Low, M.D., Ph.D. to Chief Medical Officer (CMO) and the appointment of Lori Kunkel, M.D. as a non-employee member of the Loxo Board of Directors.

Nanosphere, Inc. (Nasdaq:NSPH)
, a company enhancing medicine through targeted molecular diagnostics, today announced that it will report its results for the third quarter of 2014 on Wednesday, November 5, 2014.

Radius Health, Inc. (Nasdaq:RDUS)
announced today that its Vice President, Business Development & Strategy, Geoffrey A. Swire, will present at the BIO-Europe Conference on Wednesday, November 5, 2014 at 12:45 p.m. Central European Time at the Portalhaus Messe Frankfurt, in Frankfurt, Germany.

RedHill Biopharma Ltd. (Nasdaq:RDHL) (TASE:RDHL)
, an Israeli biopharmaceutical company focused on late clinical-stage drugs for inflammatory and gastrointestinal diseases, including gastrointestinal cancers, today announced that it will report financial results for the third quarter of 2014 on Monday, November 10, 2014.

Sanomedics International Holdings, Inc. (OTCQB:SIMH)
, announced today that the Company is experiencing very strong demand for the Caregiver® TouchFree™ InfraRed Thermometer from an influx of new purchase orders.

Sientra, Inc. (Nasdaq:SIEN), a medical aesthetics company, announced today the pricing of its initial public offering of 5,000,000 shares of common stock at a public offering price of $15.00 per share, before underwriting discounts and commissions.

Urologix®, Inc. (OTCQB:ULGX) will host a conference call to present first quarter fiscal year 2015 results on Tuesday, November 4, 2014 at 4:00 p.m. CT, following the Company's post-market press release on the same day.

ZS Pharma (Nasdaq:ZSPH)
, a biopharmaceutical company developing novel treatments for kidney, cardiovascular, liver and metabolic disorders, today announced that management will present at the Credit Suisse Annual Healthcare Conference at the Biltmore Hotel in Phoenix, Ariz. on Tuesday, November 11, 2014, at 10:30 a.m. Mountain Standard Time.



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