RxNews Recap for Wednesday 01-13-10 Print E-mail
By Mary Davila   
Wednesday, 13 January 2010 20:29
Below is a list of the companies that made news in the healthcare sector on Wednesday , January 13, 2010.

MDRNA, Inc. (NASDAQ:MRNA) announced today positive results for its study on bladder and liver cancer. The RNAi based drug discovery and development company reported a reduction in tumor growth in both liver and bladder cancers by targeting genes key to tumor progression, through both systemic and local delivery with the Company's proprietary UsiRNAs delivered by its novel DiLA2 platform. “We have demonstrated that (our products) against multiple non-cancer and cancer targets are highly active in rodents and non-human primates,” said J. Michael French, CEO and president, in a statement.

In addition, MDRNA disclosed the establishment of a collaborative effort with a major international pharmaceutical company.  As part of the collaboration, research teams at MDRNA and the pharmaceutical company “will examine safety and efficacy of systemic delivery of siRNA in animal models.” MDRNA did not disclose details of the partnership. Shares traded as high as $1.87 and settled at $1.39, up over 46% on the day.

CEL-SCI Corporation (Amex: CVM) after the bell reported financial results for the fiscal year ended September 30, 2009.

CEL-SCI reported an operating loss for fiscal year 2009 of $ (12,100,550) versus an operating loss of $ (9,517,358) in fiscal year 2008.  Included in the 2009 loss were non-cash expenditures that added up to approximately $5.5 million. In addition, CEL-SCI incurred a $28.5 million non-cash loss related to derivative accounting.  This loss was primarily a result of the significant increase in the Company's share price. CEL-SCI reportedly expects a substantial gain related to derivative accounting in the quarter ending December 31, 2009.

Geert Kersten, Chief Executive Officer said, "We concluded fiscal year 2009 in the strongest financial condition ever, with more than $33,550,000in cash and cash equivalents, allowing us to self-fund our upcoming pivotal Phase III study with our cancer drug Multikine.  We are excited that we are in position to move Multikine through the clinic without losing rights to any of the major markets and to continue to develop our L.E.A.P.S.™ technology platform in areas such as H1N1 and Rheumatoid Arthritis."

Other news makers today:

Alphatec Holdings, Inc. (Nasdaq: ATEC),the parent company of Alphatec Spine, Inc., a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions related to the aging spine, reported this morning that it has entered into an exclusive distribution agreement with Parcell Spine, LLC, pursuant to which Parcell will license and supply Alphatec Spine with Parcell's proprietary adult stem cells for the treatment of spinal disorders. Shares of Alphatec closed the day up over 10%.

American Caresource Holdings Inc (NASDAQ:ANCI) was up over 5% in Wednesday trading and rose another 4% in the after hours market after it announced the expansion of its chiropractic services with the signing of California-based ChiroSource, Inc. ChiroSource represents 1,600 chiropractic care providers in all 50 states and the District of Columbia.

Antigenics (NASDAQ:AGEN) a biotechnology company engaged in the development and commercialization of technologies to treat cancers and infectious diseases, primarily based on immunological approaches saw its shares rocket 35 % on heavy volume with no apparent news.

BioCryst (NASDAQ: BCRX) today announced that its partner, Shionogi has received marketing and manufacturing approval for intravenous peramivir to treat patients with influenza in Japan. BioCryst will receive a third and final regulatory milestone payment of $7 mln under its license agreement with Shionogi and may also receive future commercial event milestone payments of up to $95 million from Shionogi.

Cannabis Science Inc. (NASD OTCBB: CBIS), an emerging pharmaceutical cannabis company, is pleased to announce today that it is continuing its efforts to inform the public about the importance of cannabis based medicines with an interview with Dr. Robert Melamede, Cannabis Science President and CEO on StockGoodies.com at 8:30 AM Eastern.

Cell Therapeutics, Inc. (NASDAQ: CTIC) today announced after the bell that it has signed an agreement to sell $30 million of shares of its Series 3 Preferred Stock and warrants to purchase shares of its common stock in a registered offering to two institutional investors.  Each share of Series 3 Preferred Stock is convertible at the option of the holder, at any time during its existence, into approximately 823 shares of common stock at a conversion price of $1.21375 per share of common stock, for a total of approximately 24,690,000 common shares. In the after hours session shares were off almost 9% after rising more than 14% during the day.

CryoLife, Inc. (NYSE:CRY), an implantable biological medical device and cardiovascular tissue processing company, announced today that it has purchased approximately 1.6 million shares of Medafor's common stock from Medafor's founders and certain principal shareholders for approximately $2.00 per share.  

CytRx Corporation (NASDAQ:CYTR), announced plans today to initiate a Phase II proof-of-concept clinical trial to evaluate the efficacy and safety of bafetinib (formerly known as INNO-406) in patients with high-risk B-cell chronic lymphocytic leukemia (B-CLL).CytRx President and CEO Steven A. Kriegsman, stated, “We believe bafetinib is a cutting-edge treatment that could be efficacious in a wide range of hematological cancers. Our objective is to evaluate results from this trial, and if successful, quickly progress into later-stage clinical trials either internally or with partners. An effective treatment could result in a multi-billion dollar oncology product for CytRx.”

Enzo Biochem, Inc. (NYSE: ENZ) announced today that its Enzo Clinical Labs division has become one of the first diagnostic laboratories to make available a rapid and sensitive H1N1 PCR test for the swine flu virus. Enzo Clinical Labs serves physicians throughout the Metropolitan New York area, as well as New Jersey and parts of Pennsylvania. Shares also rallied during the day on continued rumors that Pfzier could be interested in the company.

Generex Biotechnology Corporation (Nasdaq:GNBT) reported today that it has received over $800,000 in initial purchase orders for the Company's proprietary Crave-NX(TM) 7-Day Diet Aid Spray. The initial orders come as part of the Company's agreement announced this week with a major nationwide pharmacy chain to market the Company's Crave-NX(TM) 7-Day Diet Aid Spray throughout the pharmacy's nationwide network of over 7,000 stores.

Mannatech, Incorporated (NASDAQ: MTEX), a global pioneer in the development of high-quality health, weight and fitness and skin care solutions based on nutritional science, obtained a Final Judgment and Permanent Injunction in its lawsuit against Techmedica Health (Techmedica), and Ionx Holdings (Ionx) prohibiting them from the manufacture, use or sale of products infringing Mannatech’s patents and requiring them to pay Mannatech $250,000 in damages.

Oxygen Biotherapeutics, Inc. (OTC Bulletin Board: OXBT) announced today that the company's common stock will begin trading on the NASDAQ Capital Market with the opening of trading on Friday, January 15, 2010.

Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer of microRNA-based molecular diagnostics, after the market closed announced that it has received commitment from certain institutional investors to purchase approximately $5.1 million of securities in a registered direct offering. Shares were trading down sharply in afterhours on this news. Earlier in the day, shares were up more than 65% on results of a joint study with the Department of Pathology at Johns Hopkins University School of Medicine. Results of the study were published online yesterday, January 12th, and are set to be published in the January 15, 2010 issue of the American Association for Cancer Research’s journal Clinical Cancer Research. The study, ”Accurate classification of non-small cell lung carcinoma using a novel microRNA-based approach,” shows that Rosetta Genomics’ miRview™ squamous test accurately classified NSCLC samples both from resections, as well as from fine-needle aspirate (FNA) cell blocks.

Simulations Plus, Inc. (NASDAQ:SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, today reported financial results for its first quarter of fiscal year 2010 ended November 30, 2009 (1QFY10).

Sinovac Biotech LTD. (NASDAQ:SVA)saw its shares rise today on news that it had recieved a 5th order from the Chinese Government for its H1N1 vaccine. With this purchase order, Sinovac will deliver an additional 8.57 million doses of PANFLU.1(TM) (15ug/0.5ml) to the Chinese Central Government, of which 2.33 million doses are expected to be delivered before March 15, 2010, and the balance of 6.23 million doses to be stockpiled by the government in Sinovac's warehouse facility.

Spectranetics Corporation (NASDAQ: SPNC)today announced publication of the CELLO (CLiRpath Excimer Laser System to Enlarge Lumen Openings) study, which evaluated the effectiveness of excimer laser ablation with the Turbo-Booster, for patients with Peripheral Artery Disease (PAD), in the December issue of the Journal of Endovascular Therapy. The FDA-cleared laser treatment met its primary endpoint by reducing, on average, the percent diameter stenosis from 77.3 percent to 42.5 percent immediately after Turbo-Booster use. These results beat by a wide margin the goal of a 20 percent difference. Also, the Turbo-Booster had a low number of repeat vascular interventions, while safely improving a range of clinical and functional status assessments.

SurModics, Inc. (Nasdaq: SRDX), a leading provider of drug delivery and surface modification technologies to the healthcare industry, announced today that it will host a live webcast of its first quarter 2010 conference call on Wednesday, January 27, at 4:00 p.m. CT.

Urigen Pharmaceuticals, Inc. (OTCBB:URGP), a specialty pharmaceutical company focused on the development of treatments for urological disorders and pain, announced today that Urigen’s scientific founder, Prof. Lowell Parsons, MD will present the company at 4pm Wednesday, January 13, 2010 at the One Med Place conference located at the Sir Francis Drake Hotel, 450 Powell Street, Union Square, San Francisco.

Walgreens (NYSE: WAG) Reported today at the annual shareholders meeting that in the Q4 of fiscal 2009, the company began to see the impact of its decision earlier in the year to slow store openings, as the number of openings fell compared to the year-ago quarter. This strategy allows the company to reinvest in its existing store network while growing returns. Store openings are anticipated to slow from 9% in 2008 to 4.5 to 5% for fiscal 2010, and to 2.5 to 3% in fiscal 2011. Even with this slowdown, co will still be opening more stores than all of its competitors combined are opening today.In addition the company announced today that it will withdraw 64 of its pharmacies from the State of Washington's Medicaid program as of Feb. 15.

Biotech investors interested in seeing more details about these companies and a full list of their related stories can do so by typing the stock ticker symbol into the Stock Quotes box on the right side of the page.

"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

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