|Celsus' Lead Drug Flunks Phase II Trial; Acorda Shares Still Down 7% In A Week|
|By William Kent|
|Tuesday, 17 February 2015 20:28|
Celsus Therapeutics PLC (ADR) (NASDAQ: CLTX) plunged more than 80 percent after its lead drug candidate failed to meet the objectives of a Phase II trial.
Celsus said its MRX-6 cream for dermatitis didn't show progress in improving the disease in a four-week trial involving 73 children. Chief Executive Gur Roshwalb said the company is "disappointed" and is analyzing data from the study to determine further plans.
With a market capitalization of $34.33 million, Celsus has four drugs in development based on multi-function anti-inflammatory compounds. Products in its pipeline also include MRX-5, an orally-administered drug for inflammatory bowel disease, CFX-1 for cystic fibrosis and OPX-1 eye drops for conjunctivitis.
Shares of the London-based company shares traded recently at $1.10 a share, down $5.01.
Acorda Therapeutics Inc. (NASDAQ: ACOR) shares could see several catalysts in 2015 that may drive prices higher, an analyst said Tuesday.
Acorda Therapeutics' recent weakness constitutes a "favorable entry point" for investors, MLV analyst Raghuram Selvaraju wrote in note reported Tuesday by Bloomberg.
Acorda fell more than 10 percent last week when it disclosed that a hedge fund challenged one of its patents on key multiple sclerosis drug Ampyra at the U.S. Patent and Trademark Office. Nearly all of Acorda's $373.3 million in 2014 revenue was derived from Ampyra sales.
Acorda partly recovered from the scare, and closed Tuesday at $37.47, up $1.33, but is still off more than 7 percent from a week earlier. Acorda said it will oppose the patent petition, reportedly launched by Kyle Bass' Hayman Capital, which has profited in the past from anticipating the U.S. housing market crash.
Selvaraju didn't comment on Bass' recent action, but said that during 2015, Acorda may benefit from the resubmission of its new drug application for Plumiaz epilepsy treatment.
Selvaraju reiterated a Buy rating and $58 target, and also cited pending data from trials on Acorda's dalfampridine drug for treatment of post-stroke deficits and its Parkinson's disease treatment called CVT-301.
ADMA Biologics, Inc. (Nasdaq:ADMA), a late-stage biopharmaceutical company that develops, manufactures, and intends to market specialty plasma-based biologics for the treatment and prevention of certain infectious diseases, today announced its abstract titled "Pharmacokinetics of RI-002, an Investigational IGIV Preparation" will be presented at the upcoming 2015 American Academy of Allergy Asthma & Immunology (AAAAI), annual meeting, being held February 19-24, 2015 in Houston, Texas.
ALR Technologies Inc. (OTCQB: ALRT), a leading remote chronic care management and medical device company, is pleased to announce the submission of a 510(k) application to the U.S. Food and Drug Administration (FDA) for an innovative new addition to the Health-e-Connect system that will help busy physicians avoid common insulin dosing errors and remotely manage large populations of patients with diabetes without sacrificing the quality of care.
BSD Medical Corporation (Nasdaq:BSDM), a leading provider of medical systems that utilize heat therapy to treat cancer, today announced the appointment of Ben Beckham as Vice President of North American Sales, effective February 16, 2015.
BioBlast Pharma Ltd. (Nasdaq:ORPN), a clinical-stage biotechnology company committed to developing clinically meaningful therapies for patients with rare and ultra-rare genetic diseases, today announced financial results for the fourth quarter ended December 31, 2014.
Cancer Genetics, Inc. (Nasdaq:CGIX), an emerging leader in DNA-based cancer diagnostics, announced today that its unique genomic panel for CLL, Focus::CLLTM, has been selected to provide genomic information for CLL patients in a global clinical trial.
CardioGenics Holdings Inc. (OTCQB:CGNH), developer of the ultra-sensitive QL Care™ analyzer, an immunoassay point-of-care analyzer, and other products for the In-Vitro-Diagnostics ("IVD") testing market, announced today that the United States Patent & Trademark Office ("USPTO") has issued a Notice of Allowance with respect to certain patent claims contained in its patent application for the self-metering cartridge to be utilized in the Company's QL Care™ analyzer.
ChemoCentryx, Inc., (Nasdaq:CCXI), a clinical-stage biopharmaceutical company focused on autoimmune diseases, inflammatory disorders and cancer, today announced that Thomas J. Schall, Ph.D., President and Chief Executive Officer, will present at the Cowen and Company 35th Annual Health Care Conference on Tuesday, March 3, 2015 at 8:00 a.m. Eastern Time.
IPC Healthcare, Inc. (Nasdaq:IPCM), a leading national hospital medicine and post-acute physician group practice company, today announced that Adam Singer, M.D., chairman and chief executive officer, and Jeff Taylor, president and chief operating officer, are scheduled to present at the 2015 RBC Capital Markets' Healthcare Conference at The New York Palace Hotel in New York City.
LHC Group, Inc. (Nasdaq:LHCG), a national provider of home health, hospice and comprehensive post-acute healthcare services, announced today details for the release of its results for the fourth quarter and year ended December 31, 2014.
Lion Biotechnologies, Inc. (OTCQB:LBIO), a biotechnology company that is developing novel cancer immunotherapies based on tumor-infiltrating lymphocytes (TIL), today announced that its board of directors has appointed Ryan Maynard to serve as a director and chair of the audit committee.
MedAssets, Inc. (Nasdaq:MDAS) today announced that R. Halsey Wise has been appointed chairman and chief executive officer of the company, effective immediately.
Momenta Pharmaceuticals, Inc. (Nasdaq:MNTA) today reported its financial results for the fourth quarter and year ended December 31, 2014.
Oncothyreon Inc. (Nasdaq:ONTY) announced today that Robert Kirkman, M.D., President and Chief Executive Officer, is scheduled to present at two upcoming investment conferences: 2015 RBC Capital Markets' Global Healthcare Conference, Tuesday, February 24, 2015 at 8 a.m. ET in New York; Cowen and Company 35th Annual Healthcare Conference, Wednesday, March 4, 2015 at 8:40 a.m. ET in Boston.
Pain Therapeutics, Inc. (Nasdaq:PTIE) today reported financial results for the full fiscal year ended December 31, 2014. Net loss in 2014 was $12.4 million, or $0.27 per share, compared to a net income in 2013 of $31.5 million, or $0.70 per share.
Raptor Pharmaceutical Corp. (Nasdaq:RPTP) today announced that the company will release fourth quarter and full year 2014 financial results on Thursday, February 26, 2015 after market close.
Revance Therapeutics, Inc. (Nasdaq:RVNC), today announced that its management is scheduled to participate in the Cowen and Company 35th Annual Health Care Conference in Boston.
Signal Genetics, Inc. (Nasdaq:SGNL), a commercial stage, molecular diagnostic company focused on providing innovative diagnostic services that help physicians make better-informed decisions concerning the care of their patients suffering from cancer, today announced the pricing of an underwritten public offering of 3,214,285 shares of its common stock at an offering price of $2.80 per share.
Symmetry Surgical Inc. (Nasdaq:SSRG) announced today that it will release fourth quarter and full year 2014 financial results for the period ending January 3, 2015 before the market opens on Thursday, February 26, 2015.
Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE), a biopharmaceutical company focused on the development of novel products for rare and ultra-rare diseases, today announced that the underwriters of the previously announced offering of 3,000,000 shares of common stock have exercised in full their option to purchase an additional 450,000 shares from the company at the public offering price of $54.00 per share, before underwriting discounts.
Vocera Communications, Inc. (NYSE:VCRA), the leading provider of intelligent, real-time communication and collaboration solutions for mission-critical mobile environments, celebrates its 15-year anniversary this week.