Catalyst Pharmaceutical soars on patent grant. Delcath rallies on heavy volume Print E-mail
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Friday, 09 July 2010 20:17
European patent for the use of vigabatrin for the prevention of addiction to opioids used in pain management is issued to CPRX; plus, a list of other companies that made news in the healthcare sector on Friday, July 9, 2010.

Catalyst Pharmaceutical Partners, Inc. (Nasdaq:CPRX) today announced that the European Patent Office (EPO) granted to Brookhaven Science Associates/Brookhaven National Laboratory (Brookhaven) a European patent for the use of vigabatrin for the prevention of addiction to opioids (e.g., oxycodone, hydrocodone) used in pain management. By dampening dopamine release and thus, the euphoria associated with opioids, the opioid/vigabatrin combination may lower or prevent addictive liability without adversely affecting pain relief. CPP-109 (vigabatrin, a GABA aminotransferase inhibitor) is Catalyst's lead compound for the treatment of addiction. Opioid abuse is one of the many substance addiction indications covered under Catalyst's exclusive worldwide license to Brookhaven's international and domestic vigabatrin patent portfolio.

Patrick J. McEnany, Catalyst's Chief Executive Officer, commented, "We are pleased that the EPO has granted this patent. As we reported on November 10, 2009, a team of neuroscientists at The Feinstein Institute for Medical Research at North Shore-Long Island Jewish Health System received a $1.2 million grant from the U.S. Department of Defense to conduct an animal study using vigabatrin in combination with opiates to effectively manage pain while reducing the potential for opiate addiction. This study is currently underway, and we look forward to exploring the development of CPP-109, both here and abroad, to manage the addictive liability associated with the use of opiates for pain management."

Shares of Catalyst soared on the news, jumping nearly 47% or 42 cents to $1.32.

Delcath Systems, Inc. (Nasdaq:DCTH) a development stage, specialty pharmaceutical and medical device company focused on oncology, shot up more than 31% or $1.83 on no apparent news. Volume was heavy at nearly 8 Million shares. The stock closed the day at $7.68.

Bristol-Myers Squibb Company (NYSE: BMY) and Otsuka Pharmaceutical Co., Ltd. today announced that the U.S. Food and Drug Administration (FDA) has accepted for filing and review the supplemental New Drug Application (sNDA) for SPRYCEL®(dasatinib) for the treatment of adult patients with newly diagnosed chronic myeloid leukemia (CML) in chronic phase. The companies also announced today that the application has been granted a priority review designation by the FDA. Based on FDA’s six month goal for completing priority reviews, the projected FDA action date is October 28, 2010. The filing is based on the results of the DASISION trial.

Celsion Corporation (Nasdaq:CLSN), a biotechnology drug development company that is leveraging its Heat Sensitive Liposomal Technology platform to encapsulate and deliver high concentrations of proven chemotherapeutics, announced today that it has received approval from the NASDAQ Stock Market to transfer the listing of its common stock from the NASDAQ Global Market to the NASDAQ Capital Market. The Company's common stock will continue to be traded under the symbol "CLSN" and trading of its common stock will be unaffected by this transfer. This transfer will be effective as of the opening of business on July 12, 2010.

Integra LifeSciences Holdings Corporation (Nasdaq:IART) announced today the launch of DuraGen Plus(R) Dural Regeneration Matrix - Spinal Matrix, an absorbable and sutureless collagen onlay indicated as a dura substitute for the repair of dura mater.

Integra developed the first onlay collagen graft for dural repair in 1999 and is the market leader in providing graft materials for sutureless closure of dural defects in the United States.

The dura mater is a tough, fibrous membrane that surrounds and protects the tissues of the brain and spinal cord. When the dura mater is cut or torn, it must be repaired, either by suturing or applying a dural graft, to prevent cerebrospinal fluid (CSF) leaks. Dural defects may be repaired using several techniques, including commercially available dural graft substitutes. Surgeons may be able to repair the dura mater more efficiently when using graft substitutes that do not require sutures, such as DuraGen Plus(R) Dural Regeneration Matrix - Spinal Matrix.

Also Friday:

Athenahealth, Inc. (NASDAQ: ATHN), a leading provider of web-based practice management, electronic health record (EHR), and patient communication services to medical groups, today announced that the latest version of its web-based EHR service, athenaClinicalsSM Version 10.6, has been inspected by the Certification Commission for Health Information Technology (CCHIT®) and is certified EHR technology, IFR Stage 1, preliminarily meeting 24 of 24 requirements for Eligible Providers published by the U.S. Department of Health and Human Services (HHS) in the Interim Final Rule (IFR).

Biogen Idec (NASDAQ: BIIB) and Swedish Orphan Biovitrum (STO: SOBI) today announced that they plan to advance the companies' long-lasting, fully-recombinant factor VIII Fc fusion protein (rFVIIIFc) into a registrational clinical trial in people with hemophilia A.

BioTime, Inc. (NYSE Amex:BTIM) Chief Executive Officer Michael West, Ph.D., will give a presentation at the Agora Financial Investment Symposium 2010, July 20-23, at the Fairmont Hotel Vancouver.

Bristol-Myers Squibb Company (NYSE: BMY) and Otsuka Pharmaceutical Co., Ltd. today announced that the U.S. Food and Drug Administration (FDA) has accepted for filing and review the supplemental New Drug Application (sNDA) for SPRYCEL® (dasatinib) for the treatment of adult patients with newly diagnosed chronic myeloid leukemia (CML) in chronic phase.

CVS Caremark's (NYSE:CVS) Pharmacy Benefit Management Customer Care team was awarded a gold medal for Best Customer Service (America's region) and a silver medal for Best Community Spirit by at the organization's Top Ranking Performers Awards Conference in Orlando.

Derma Sciences, Inc. (NASDAQ: DSCI), a medical device and pharmaceutical company focused on advanced wound care, announces the achievement of regulatory and commercial milestones.

Exact Sciences Corp. (Nasdaq: EXAS) today announced that the company’s annual meeting of stockholders will be webcast live on Friday, July 16, at 11 a.m. EDT.

Jiangbo Pharmaceuticals, Inc. (Nasdaq: JGBO), today announced that its management will present at the Global Hunter Securities China Investment Conference, which takes place July 11-13, 2010 at the St. Regis Hotel in San Francisco.

Lifeline Biotechnologies, Inc. (Pink Sheets: LLBO) announced today that it has retained legal counsel to resolve the trading issue with Depository Trust Corporation (DTC) in order to re-establish clearing services.

Omnicare, Inc. (NYSE:OCR) will release its financial results for the second quarter ended June 30, 2010, on Thursday, August 5, 2010, before the opening of trading on the New York Stock Exchange.

Renhuang Pharmaceuticals, Inc. (NYSE Amex: CBP) a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines, today announced that on July 8, 2010, the Company signed an Acquisition Agreement (the "Agreement") with Yichun Red Star Forest Bureau of Heilongjiang Province for indefinite exclusive access to 100,000 acres of wild Siberian Ginseng in Heilongjiang Province.

SurModics, Inc. (Nasdaq: SRDX), a leading provider of drug delivery and surface modification technologies to the healthcare industry, is participating at the 37th Annual Meeting and Exposition of the Controlled Release Society (CRS), July 10–14, 2010 in Portland, Oregon.

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