|Radient Pharmaceuticals surges on India collaberation. Rexahn Pharma to present at NASDAQ MarketSite, shares soar|
|By BioMedReports.com Staff|
|Wednesday, 07 April 2010 18:57|
Below is a list of the companies that made news in the healthcare sector on Wednesday, April 07, 2010.
Radient Pharmaceuticals Corporation (AMEX:RPC), moved higher today after the US-based pharmaceutical company, announced that it has entered into an exclusive 5-year collaboration agreement with Jaiva Technologies. Under the terms of the agreement, Jaiva Technologies will collaborate with clinical laboratories, hospitals and physicians in India to conduct clinical trials for RPC's Combination Immunogene Therapy (CIT) technology. Additionally, Jaiva will support RPC in securing Indian government approval for the use of CIT as a cancer therapy and vaccine throughout the country.
Jaiva Technologies is a US-based multinational biotechnology company focused on the research and development, distribution, marketing and sales of promising third-party healthcare technology products, including RPC's CIT cancer therapy and vaccine.
Today's agreement supports RPC's expansion and commercialization strategy for its cancer products that also include RPC's FDA-approved Onko-Sure™ in vitro diagnostic cancer test. According to Mr. Douglas MacLellan, CEO of Radient Pharmaceuticals, "We are pleased with today's announcement and look forward to working with Jaiva on the commercialization of CIT in India. We remain steadfast in our efforts to accelerate RPC's market growth and value to our customers, patients, and shareholders."
According to Dr. Umesh Bhatia, Jaiva CEO, "We are very excited to collaborate with Radient Pharmaceuticals on the further development and commercialization of CIT in India. This product has tremendous potential benefit in treating cancer patients, and we believe that, through our extensive network in this market, we will complete the necessary clinical trials to gain government approval and initiate and generate solid product sales."
Radient was featured today in BioMedReports subscriber section as a "Breakout Alert". In tomorrows front page section, BioMedReports will feature an in-depth story on the company including an interview with the CEO.
Shares rose more than 11% to close at 38 cents. Earlier in the day the stock hit an intraday high of 47 cents.
Rexahn Pharmaceuticals, Inc. (NYSE Amex:RNN), soared today after the clinical stage pharmaceutical company commercializing potential best in class oncology and CNS therapeutics, announced that Dr. Chang Ahn, Rexahn’s Chief Executive Officer, will present at the NASDAQ MarketSite in Times Square, New York City, NY on Tuesday, April 13, 2010 at 12:30 PM EDT.
Dr. Ahn will discuss Rexhan’s important corporate developments in conjunction with a simultaneously issued press release.
Shares traded up more than 22% on the day, rising 40 cents, closing the day at $2.19. More than 5.5 Million shares traded hands.
After the market closed Wednesday:
HeartWare International, Inc. (Nasdaq: HTWR; ASX: HIN), a leading innovator of less invasive, miniaturized circulatory support technologies revolutionizing the treatment of advanced heart failure, today announced that the U.S. Food and Drug Administration (FDA) has approved an IDE (Investigational Device Exemption) Supplement that allows HeartWare to enroll up to an additional 54 patients in its "ADVANCE" bridge-to-transplant clinical trial under a Continued Access Protocol (CAP).
NeuroTherm announced today that they have acquired the Smith & Nephew PLC (NYSE: SNN; LSE: SN) Interventional Spine Pain Management assets from Smith & Nephew's subsidiaries. The acquired product line includes several innovative interventional spine pain products including the CDS Discography System, SPINECATH™ & ACUTHERM™ Catheters and a full radiofrequency product line. NeuroTherm will also be a distributor of the TRUCATH™ Injection System within the Interventional Spine Pain market.
In news from earlier in the day Wednesday:
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), a leading RNAi therapeutics company, announced today that the United States Patent Office (USPTO) has allowed a patent (Application No. 10/560,336) for the Woppmann et al. patent series, entitled "Double-stranded ribonucleic acid with increased effectiveness in an organism." The newly allowed patent includes 31 claims broadly covering compositions and methods, including pharmaceutical compositions, for small interfering RNAs (siRNAs), the molecules that mediate RNAi.
Bederra Corporation (Pinksheets:BEDA) management reports that it has begun repurchasing shares of the company's common stock from the open market in its previously announced buyback program. As previously stated, management reiterated that the board of directors has approved the repurchase of up to fifty percent of the shares in the outstanding public float. This reflects management's commitment to drive shareholder value and appreciation in the company's current price per share to allow the company to more effectively complete merger and acquisition activities..
Bioject Medical Technologies Inc. (OTCBB:BJCT), a leading developer of needle-free injection systems, today announced that it has met the final milestone under its Development Agreement with Merial Limited ("Merial") by delivering devices with auto-disable nozzles to Merial for its next generation spring-powered companion animal vaccination device.
Cepheid (Nasdaq:CPHD) reported today that it will initiate European launch of its newest addition to the GeneXpert® family of molecular diagnostic testing systems, the GeneXpert Infinity-48, at the 20th annual European Congress of Clinical Microbiology & Infectious Diseases (ECCMID) in Vienna, Austria. The GeneXpert Infinity-48 System is the world's first and only fully-automated, random-access system designed for management of the entire molecular testing workflow — from sample data, cartridge loading and unloading, to final reporting of test results and disposal of cartridges.Europe," said Nico Arnold, Executive Vice President of Worldwide Commercial Operations for Cepheid.
CytRx Corporation (NASDAQ:CYTR), a biopharmaceutical company specializing in oncology, today announced plans to initiate a Phase 2 proof-of-concept clinical trial in the second half of 2010 to evaluate the effectiveness and safety of its oncology drug candidate bafetinib (formerly known as INNO-406) in patients with an advanced form of prostate cancer known as metastatic hormone-refractory prostate cancer.
DURECT Corporation (Nasdaq:DRRX) announced today that its licensee, King Pharmaceuticals (NYSE:KG), has begun a Phase IIb clinical trial to evaluate ELADUR™ (TRANSDUR™-Bupivacaine) for the treatment of chronic low back pain. ELADUR is an investigational transdermal drug patch intended to deliver bupivacaine for up to 3 days from a single application. This Phase IIb trial is a 12-week, randomized, double-blind, placebo-controlled trial evaluating the efficacy and safety of ELADUR in patients with chronic low back pain.
Entest BioMedical, Inc. (OTC.BB:ENTB) announced that it has hired Tammy Reynolds, CPA as Its new Chief Financial Officer. Ms. Reynolds joins Entest BioMedical from Science Applications International Corporation (SAIC).
Hansen Medical, Inc. (NASDAQ:HNSN), a global leader in flexible robotics and a developer of next generation medical robotics designed for accurate positioning, manipulation and stable control of catheters and catheter-based technologies, today announced preliminary revenue results for the first quarter ended March 31, 2010. Shares dropped as the company reported that it expects first-quarter revenue of between $2.5 million and $2.7 million which is less than half of what analysts had expected.
iBio, Inc. (OTCBB: IBPM) confirmed today the grant of rights to use iBio’s proprietary technology, the iBioLaunch™ platform, in support of a $5.3 million government-funded project for the development of a single vaccine to protect against both anthrax and plague. The project will be managed by Fraunhofer USA Center for Molecular Biotechnology (CMB) pursuant to the long-term agreement between iBio and CMB for advancement of the iBio technology.
Idera Pharmaceuticals, Inc. (Nasdaq: IDRA) today announced the appointments of Robert Arbeit, M.D., as Vice President of Clinical Development, and Nicola La Monica, Ph.D., as Vice President of Biology, and the promotion of Timothy Sullivan, Ph.D., the Company’s Vice President of Development Programs, to Vice President of Development Programs and Alliance Management.
MAP Pharmaceuticals, Inc. (Nasdaq:MAPP) today announced that the Company initiated a pharmacodynamics (PD) trial to compare the acute effect of LEVADEX™ orally inhaled migraine therapy to intravenous dihydroergotamine mesylate (IV DHE) and placebo on pulmonary artery pressure as measured by echocardiography. LEVADEX is a novel orally inhaled migraine therapy that has completed Phase 3 efficacy development for the acute treatment of migraine. This trial was initiated in support of a planned New Drug Application submission for LEVADEX to the U.S. Food and Drug Administration.
Micro Identification Technologies, Inc. (OTCBB:MMTC) announced that they have agreed with QualityStocks to be featured in The Small Cap QualityStocks Daily Newsletter, QualityStocks Daily Blogs and Message Boards. QualityStocks, based in Scottsdale, Arizona, is a free service that collects data from hundreds of Small-Cap and Micro-Cap online Investment Newsletters into one Free Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their advertising efforts and now has over 750,000+ subscribers that receive The Daily Stock Newsletter via opt in email.
Momenta Pharmaceuticals, Inc. (Nasdaq:MNTA), a biotechnology company specializing in the characterization and engineering of complex mixture drugs, today announced that the results of the M118 EMINENCE clinical trial have published in Circulation. The key conclusion in the paper is that in this study M118 was well-tolerated and provided further evidence of feasibility for use as an anticoagulant in patients undergoing elective percutaneous coronary intervention. The authors further conclude the data provides the basis for further investigations of M118 in ischemic heart disease.
Mylan Inc. (Nasdaq:MYL) today announced that its subsidiary Mylan Pharmaceuticals Inc. received final approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for Polyethylene Glycol 3350, Sodium Chloride, Sodium Bicarbonate and Potassium Chloride for Oral Solution (with Flavor Packs), the generic version of Braintree Laboratories' NuLytely® laxative. Polyethylene Glycol 3350, Sodium Chloride, Sodium Bicarbonate and Potassium Chloride for Oral Solution (with Flavor Packs) had U.S. sales of approximately $31 million for the 12 months ending Dec. 31, 2009, according to IMS Health. Mylan's version is available for immediate shipment.
Orchid Cellmark Inc. (Nasdaq:ORCH), a leading international provider of identity DNA testing services, today announced it has acquired the paternity and immigration DNA testing business unit of Strand Analytical Laboratories, LLC. Strand is a provider of forensic, medical, and paternity DNA testing services based in Indianapolis, Indiana.
pSivida Corp. (NASDAQ:PSDV) (ASX:PVA), moved higher today after the leader in the development of ophthalmic sustained release drug delivery products, today said that a recently-published peer reviewed scientific paper showed that a sustained release Durasert drug delivery device releasing the steroid fluocinolone acetonide (FA) in the back of the eye preserved retinal function in a retinitis pigmentosa model. "This is very encouraging," said Dr. Ashton, "and we intend to pursue further studies using our technologies for the treatment of eye diseases for which there currently are very few effective treatments." pSivida has developed two of the only three FDA approved ophthalmic sustained release drug delivery products, Retisert® for the treatment of posterior uveitis and Vitrasert® for the treatment of Aids-related CMV retinitis, both of which are licensed to Bausch & Lomb.
Psychemedics Corporation (Nasdaq:PMD) today announced the appointment of James V. Dyke as the Company's new Vice President of Sales. In this position, Mr. Dyke will be responsible for all sales activities and be a key member of the management team in developing the Company's strategic plans.
Raptor Pharmaceutical Corp. (Nasdaq:RPTP), today announced the engagement of The Trout Group LLC, a leading New York-based investor relations and strategic advisory firm. The Trout Group will work with Raptor to facilitate the Company's exposure to the international capital markets and coordinate their communications with investors worldwide.
Star Scientific (Nasdaq:CIGX) moved lower today after the company announced that it has completed a "Research and Royalty Agreement" with the Roskamp Institute's affiliate, SRQ Bio, LLC, under which the Institute will conduct research on a compound developed by the company's Rock Creek Pharmaceutical subsidiary that medical researchers at the Institute believe may have an application in the treatment of Alzheimer's disease. Preliminary testing of the compound has produced promising results when applied to cells, and the compound is being explored further for its application to treat a variety of neurological conditions, including Alzheimer's. Preliminary tests performed by the Roskamp Institute show that when the compound developed by Rock Creek is applied to cells, B-amyloid is reduced. Also, the compound appears to encourage new neuronal cell growth. Results in cells do not necessarily translate to human testing, and additional work needs to be completed to determine whether the compound will have significant B-amyloid lowering effects in humans. Shares were off by more than 15% on the day.
STERIS Corporation (NYSE: STE) surged higher today after the company announced that it has received U.S. Food and Drug Administration (FDA) 510(k) clearance for the STERIS SYSTEM 1E® Liquid Chemical Sterilant Processing System.
The STERIS SYSTEM 1E® Liquid Chemical Sterilant Processing System is the successor to the Company’s SYSTEM 1® Sterile Processing System. The SYSTEM 1E is indicated for liquid chemical sterilization of cleaned, immersible, and reusable critical and semi-critical heat sensitive medical devices in healthcare facilities.
"We are pleased that the Agency cleared SYSTEM 1E for marketing," commented Walt Rosebrough, STERIS President and Chief Executive Officer. "This is good news for our Customers and we look forward to working with them as they continue their transition to acceptable alternative technologies. We remain committed to the outstanding level of service that our Customers have come to expect from STERIS."
Synta Pharmaceuticals Corp. (NASDAQ: SNTA), a biopharmaceutical company focused on discovering, developing, and commercializing small molecule drugs to treat severe medical conditions, today announced that Synta will present multiple posters at the American Association for Cancer Research (AACR) 101st Annual Meeting 2010 to be held April 17-21, 2010 in Washington, DC. The presentations will include three posters on STA-9090, a potent inhibitor of Hsp90, which further differentiate the compound from other agents in this class and two posters on elesclomol, a small-molecule oxidative stress inducer, which further elucidate the mechanism of action and guide towards choice of patients for future trials.
Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) today announced that several new studies supporting the company’s innovative central nervous system (CNS) portfolio will be presented at the 62nd American Academy of Neurology Annual Meeting in Toronto, April 10-17, 2010.
Valeant Pharmaceuticals International (NYSE:VRX) announced today that it has priced its previously announced private placement of $400 million of 7.625% senior unsecured notes due 2020. The principal amount was increased from the previously announced $350 million.
BioReference Laboratories, Inc. (NASDAQ: BRLI) announced the approval by its board of directors and the declaration today of a forward two for one split of its Common Stock entitling each holder of record of BRLI Common Stock at the close of business on April 19, 2010 to receive one additional share of BRLI Common Stock for each share owned by him or her at such time. Distribution of the additional shares is expected to be made on or about April 21, 2010.