|Acasti Gains Ahead Of Expected Phase II Results; Cyberonics Plans To Merge With Milan's Sorin SpA|
|By William Kent|
|Thursday, 26 February 2015 20:15|
Acasti Pharma Inc. (NASDAQ: ACST) gained more than 4 percent Thursday ahead of the expected release of complete data from Phase II trials of its lead drug candidate. With a market capitalization of $41 million, shares of the Laval, Quebec-based company changed hands recently at $0.551, up $0.024.
Acasti, which is developing medicine for blood disorders using oil from plankton, said last month that it expects to obtain complete data from the trial by the end of February.
Acasti expects to meet with U.S. regulators concerning the data during the first quarter ending May 31, and obtain "a clearer picture on the projected timeline" for a Phase III trial of the product, called CaPre. The product is the company's only drug candidate and Acasti hopes to market it for treatment of hypertriglyceridemia, a condition which can lead to cardiovascular disease.
Acasti received notice November 11 that failed to meet the Nasdaq minimum $1 bid listing requirement and that it had 180 days to comply.
Cyberonics, Inc. (NASDAQ: CYBX) shares gained more than 20 percent after the company said it will merge with Italian-based Sorin SpA in a stock-swap valuing the two companies at $2.7 billion.
Cyberonics changed hands recently at $70.03, up $16; Sorin changed was trading up about 32 percent on the Milan stock exchange at EU2.90. The deal, expected to close by September, will result in a company with annual sales of about $1.3 billion and will be 54 percent owned by current Cyberonics shareholders.
Cyberonics makes implantable medical devices for the treatment of heart failure, epilepsy and depression. Sorin makes heart valves, pacemakers and equipment for cardiovascular surgery.
Following the merger, the company will be a "global leader" in heart surgery, with opportunities focused on heart failure, sleep apnea and heart valves, the companies said. Post merger, the company will have "essentially no debt," with a domicile in the U.K. and dual listings on New York and London stock exchanges.
The new company will have a "sound financial base and a larger capitalization that can attract a larger, global investor base," the companies said. Sorin's Chief Executive Andre-Michel Ballester will head the new company while Cyberonics' CEO Daniel Jeffrey Moore will be chairman.
Separately on Thursday, Cyberonics beat third-quarter earnings expectations by 3.5 percent on revenue in line with Wall Street forecasts. Cyberonics also said on Wednesday its Vitaria device for treating heart failure was approved by European regulators. The device is unavailable in the U.S.
ABM (NYSE:ABM), a leading provider of facility solutions, announced that ABM Healthcare Support Services has been selected to provide multiple support service lines for Allegiance Health in Jackson, Michigan.
ACETO Corporation (Nasdaq:ACET), a global leader in the marketing, sale and distribution of products for Human Health, Pharmaceutical Ingredients and Performance Chemicals, today announced that MSCI Inc. has approved its request to change its Global Industry Classification Standard (GICS®) code to 35102010 (Health Care - Health Care Distributors) from 20107010 (Industrials - Trading Companies and Distributors).
Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a global provider of spinal fusion technologies, announced today financial results for the fourth quarter and full year ended December 31, 2014.
Amicus Therapeutics (Nasdaq:FOLD), a biopharmaceutical company at the forefront of rare and orphan diseases, today announced that John F. Crowley, Chairman and Chief Executive Officer, will present a corporate overview at the Cowen and Company 35th Annual Health Care Conference in Boston, MA on Monday, March 2, 2015 at 4:50 p.m. ET.
Avinger, Inc. (Nasdaq:AVGR) a manufacturer of image-guided, catheter-based systems used by physicians to treat peripheral arterial disease and pioneer of the lumivascular approach to treating vascular disease, today announced that it will release its financial results for the fourth quarter and full year of 2014 after the close of trading on Thursday, March 12, 2015.
BioReference Laboratories, Inc. (Nasdaq:BRLI) announced today it plans to issue earnings results for first quarter 2015 before the open of market trading on Thursday, March 5th, 2015.
Cancer Genetics, Inc. (Nasdaq:CGIX), an emerging leader in DNA-based cancer diagnostics, announced today that it will report fourth quarter and fiscal 2014 financial results before the market open on Thursday, March 12, 2015.
Capnia, Inc. (Nasdaq:CAPN), focused on the development of novel products based on its proprietary technologies for precision metering of gas flow, will visit the Nasdaq MarketSite in Times Square.
ChemoCentryx, Inc. (Nasdaq:CCXI) announced today that the Company's fourth quarter 2014 financial results will be released after market close on Thursday, March 12, 2015.
Curis, Inc. (Nasdaq:CRIS), a biotechnology company focused on the development and commercialization of innovative drug candidates for the treatment of human cancers, today announced that Dr. Ali Fattaey, President and Chief Executive Officer, will present at the Cowen and Company 35th Annual Health Care Conference in Boston on Wednesday, March 4, 2015, at 10:00 a.m. Eastern Time.
EDAP TMS SA (Nasdaq:EDAP), the global leader in therapeutic ultrasound, today announced a multi-national strategic OEM partnership with Quanta System, a leading manufacturer of medical lasers for surgical and other applications.
Foamix Pharmaceuticals Ltd. (Nasdaq:FOMX), a clinical stage specialty pharmaceutical company focused on developing and commercializing proprietary topical foams to address unmet needs in dermatology, announced today that David Domzalski, President of Foamix Pharmaceuticals, will provide a corporate overview and business update at the Cowen & Company 35th Annual Health Care Conference.
Heat Biologics, Inc. (Nasdaq:HTBX), a clinical stage biopharmaceutical company focused on the development of cancer immunotherapies, is today providing an update on its clinical program in non-muscle invasive bladder cancer (NMIBC) at a Key Opinion Leader (KOL) event being held this morning in New York.
Hyperion Therapeutics, Inc. (Nasdaq:HPTX) today reported net revenue of $30.8 million and $113.6 million during the fourth quarter and full year of 2014, respectively, from the sales of its two products for the treatment of urea cycle disorders (UCDs) RAVICTI® (glycerol phenylbutyrate) Oral Liquid and BUPHENYL® (sodium phenylbutyrate) Tablets and Powder.
Inogen, Inc. (Nasdaq:INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, announced that it will release its financial results for the fourth quarter and full year of 2014 after the close of trading on Thursday, March 12, 2015.
Landec Corporation (Nasdaq:LNDC), a leading developer and marketer of innovative and proprietary products for healthy living applications in the food and biomedical markets, has been invited to present at the 27th Annual ROTH Conference.
Lion Biotechnologies, Inc. (Nasdaq:LBIO), a biotechnology company that is developing novel cancer immunotherapies based on tumor infiltrating lymphocytes (TIL), today announced the pricing of an underwritten public offering of 8,000,000 shares of its common stock at a public offering price of $8.00 per share.
Lombard Medical, Inc. (Nasdaq:EVAR), a medical device company focused on endovascular aneurysm repair (EVAR) of abdominal aortic aneurysms (AAAs), today reported operational progress and financial results for the fourth quarter and year ended December 31, 2014.
MedAssets (Nasdaq:MDAS) today announced that it will present at the Barclays Global Healthcare Conference on Wednesday, March 11, 2015 in Miami.
Novavax, Inc., (Nasdaq:NVAX) a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants, today announced its financial results for the fourth quarter and twelve months ended December 31, 2014.
Perseon Corporation (Nasdaq:PRSN), a leading provider of medical systems that utilize heat therapy to treat cancer, today announced the appointment of Jennifer R. Hoglin as Vice President of Global Marketing, effective February 17, 2015.
Portola Pharmaceuticals (Nasdaq:PTLA) today announced that andexanet alfa, a U.S. Food and Drug Administration (FDA)-designated breakthrough therapy, has been granted orphan drug designation by the FDA's Office of Orphan Products Development for reversing the anticoagulant effect of direct or indirect Factor Xa inhibitors in patients experiencing a serious uncontrolled bleeding event or who require urgent or emergent surgery.
Premier, Inc. (Nasdaq:PINC) has recognized Telepsychiatry Improves Outcomes in Frontier Communities with the 23rd annual Monroe E. Trout Premier Cares Award for providing access to mental health services to a remote population of at-risk patients. As part of the award, the program has received $100,000 from Premier.
Proteon Therapeutics Inc. (Nasdaq:PRTO), a company developing novel, first-in-class pharmaceuticals to address the medical needs of patients with kidney and vascular diseases, announced today that Company management will present at the Cowen and Company 35th Annual Healthcare Conference in Boston on Wednesday, March 4, 2015, at 9:20 am ET.
Receptos, Inc. (Nasdaq:RCPT), a biopharmaceutical company developing therapeutic candidates for the treatment of immune and metabolic diseases, will review financial results for the fourth quarter and year ended December 31, 2014 on Tuesday, March 3 after the markets close.
Revance Therapeutics, Inc. (Nasdaq:RVNC), a specialty biopharmaceutical company developing botulinum toxin products for use in aesthetic and therapeutic indications, today announced that Philip J. Vickers, Ph.D., Executive Vice President and Global Head of Research & Development at Shire plc, has been appointed to its Board of Directors, effective February 26, 2015.
Rockwell Medical, Inc. (Nasdaq:RMTI), a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron replacement, secondary hyperparathyroidism and hemodialysis, reported results for the fourth quarter and year ended December 31, 2014.
Stemline Therapeutics, Inc. (Nasdaq:STML), announced today that Ivan Bergstein, M.D., Stemline's CEO, will present at the Cowen and Company 35th Annual Health Care Conference on Wednesday, March 4, 2015 at 9:20 AM ET.
Tetraphase Pharmaceuticals, Inc. (Nasdaq:TTPH), a clinical stage biopharmaceutical company developing novel antibiotics to treat life-threatening multidrug-resistant (MDR) infections, today announced that it will report fourth quarter and full year 2014 financial results after the close of U.S. financial markets on March 5, 2015, and will host a conference call on Thursday, March 5 at 4:30 p.m. Eastern Time to discuss the financial results and provide a corporate update.
Vitae Pharmaceuticals, Inc. (Nasdaq:VTAE), a clinical-stage biotechnology company, today announced that its partner Boehringer Ingelheim has voluntarily placed BI 1181181 on a temporary clinical hold, and has notified regulatory agencies of its decision. BI 1181181 is an orally-active beta secretase (BACE) inhibitor being evaluated in Phase 1 clinical trials for the treatment and prevention of Alzheimer's disease.
XOMA Corporation (Nasdaq:XOMA), a leader in the discovery and development of antibody therapeutics, announced the Company will host a conference call on Wednesday, March 11, 2015, at 4:30 p.m. Eastern Standard Time to discuss fourth quarter and full year 2014 financial results and provide an update on gevokizumab's global clinical programs.
ZIOPHARM Oncology, Inc. (Nasdaq:ZIOP) today announced financial results for the fourth quarter and full year ended December 31, 2014, and provided an update on the company's recent activities.