Corcept moves higher on study goals. Micro-cap stock, MicroFluidics acquired by IDEX. After the bell: Vermillion shares gain on patent award Print E-mail
By Staff and Wire Reports   
Tuesday, 11 January 2011 19:32
Below is a look at some of the headlines for companies that made news in the healthcare sector on January 11, 2011.

 

After the bell, shares of Vermillion, Inc. (Nasdaq:VRML), moved higher after the molecular diagnostics company, announced that the U.S. Patent and Trademark Office (USPTO) has issued the company a patent for Beta-2 microglobulin and biomarker combinations that include Beta-2 microglobulin for the diagnosis and management of peripheral artery disease and to the measurement of the biomarkers by a variety of methods, including mass spectrometry and immunoassay. The studies underlying the patent were conducted with Dr. John P. Cooke, M.D., Ph.D., a Professor and Associate Director of the Stanford Cardiovascular Institute at Stanford University School of Medicine. Dr. Cooke is a founder and past President of the Society for Vascular Medicine, and an author of over 350 scientific articles in vascular medicine and biology.

"The issuance of this PAD biomarker patent will help our efforts to develop and commercialize our VASCLIR test for PAD. We continue to progress our PAD program, including the initiation of our intended use study," said Gail S. Page, CEO and Chairperson of the Board of Directors of Vermillion.

In extended trading, shares jumped 7.5% or 59 cents to $8.49.


Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) surged more than 10% Tuesday after the company reported that it's experimental drug for Cushings Syndrome met its secondary treatment goal in a late stage study. The drug, Corlux is intended to treat the condition which is caused by the overproduction and ultimately the overexposure to the hormone cortisol. High blood pressure and high blood sugar as well as fatigue and weak muscles are some of the symptoms that the disease produces.

In December 2010 the drug was reported to have met the study's primary endpoints of improving blood pressure and glucose tolerance. Corcept anticipates an NDA submission for Corlux to the FDA sometime in Q1 2011. The drug was previously granted orphan drug designation, giving it 7 years of exclusive marketing rights.

Shares of Corcept jumped 40 cents or 10.28% to close Tuesday tradin at $4.29.

Shares of micro-cap stock, Microfluidics International Corporation (OTC Bulletin Board:MFLU.ob), soared more than 55% Tuesday after the company reported that it has agreed to be acquired by IDEX Corporation (NYSE:IEX) for $1.35 per share in cash.

Microfluidics is a global leader in the design and manufacture of laboratory and commercial equipment used in the production of micro and nano scale materials for the pharmaceutical and chemical markets. Microfluidics is the exclusive producer of the Microfluidizer family of high shear fluid processors for uniform particle size reduction, robust cell disruption and nanoparticle creation. Microfluidics’ product and service offerings will enhance IDEX’s micro fluidics and micro particle technology position. Headquartered in Newton, MA, Microfluidics achieved $16M in revenue in 2009. Microfluidics will operate as a stand-alone business within the IDEX Fluid and Metering segment and is expected to be accretive to IDEX’s earnings in 2011. IDEX Corp manufactures a broad range of fluid handling and industrial products, including pumps, meters, and hydraulic rescue systems.

MicroFluidics surged more than 55%, gaining 47 cents to close the day at $1.32.

Advanced Cell Technology, Inc. (OTCBB:ACTC) reported that its hemangioblast-based technology can be used to generate functional platelets from human embryonic stem cells (hESCs). The research, which appears online in Cell Research − a Nature Group journal − by scientists at ACT’s joint venture "Stem Cell & Regenerative Medicine International" (SCRMI) and colleagues at Harvard Medical School, Cha University, and the University of Illinois, shows that it is feasible to generate functional megakaryocytes and platelets from hESCs on a large scale. The hESC-platelets displayed features that were indistinguishable from those of normal blood platelets, and participated in clot formation and retraction in vitro. High-speed video microscopy showed that the platelets contributed to thrombi after vascular injury in mice, providing the first evidence for in vivo functionality of hESC-derived platelets.

Complete Genomics Inc. (Nasdaq:GNOM) announced today the signing of an agreement with The Institute for Systems Biology (ISB) that calls for Complete Genomics to sequence 615 complete human genome samples as part of an ISB study on neurodegenerative diseases. Shares of Complete Genomics jumped more than 5% on the news.

Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC) (Nasdaq:CYCCP), today announced that it has opened enrollment of the SEAMLESS pivotal Phase 3 trial for the Company's sapacitabine oral capsules as a front-line treatment of elderly patients aged 70 years or older with newly diagnosed acute myeloid leukemia (AML) who are not candidates for intensive induction chemotherapy. The study is being conducted under a Special Protocol Assessment (SPA) agreement that Cyclacel reached with the U.S. Food and Drug Administration (FDA). SEAMLESS builds on promising 1-year survival observed in elderly patients aged 70 years or older with newly diagnosed AML or AML in first relapse enrolled in a Phase 2 study of single agent sapacitabine.

Dyax Corp. (NASDAQ: DYAX) and Defiante Farmaceutica S.A., an affiliate of the pharmaceutical group Sigma-Tau (Sigma-Tau), announced today the expansion of their partnership to commercialize KALBITOR (ecallantide) for the treatment of hereditary angioedema (HAE) throughout Australia and New Zealand. Defiante already has rights to KALBITOR for Europe, North Africa, Middle East and Russia, while Dyax retains the rights to develop and commercialize KALBITOR in the U.S. and in other un-partnered territories. KALBITOR was approved by the U.S. Food and Drug Administration (FDA) in December 2009 and is marketed by Dyax for the treatment of acute attacks of HAE in patients 16 years of age and older.

Also Tuesday:

AstraZeneca (NYSE:AZN) and Sarah Cannon Research Institute (SCRI), an international leader in advancing therapies for cancer patients through clinical research, today announced that SCRI will lead the clinical development of a novel targeted oncology compound from AstraZeneca.

BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) today announced the initiation of a Phase 1/2 trial for BMN 673, a poly ADP-ribose polymerase (PARP) inhibitor in development for the treatment of genetically-defined cancers.

CareFusion (NYSE:CFN), a leading, global medical device company, today announced that it has signed an agreement to sell its OnSite Services instrument management and repair business to Frazier Healthcare. Financial terms of the agreement were not disclosed.

China Biologic Products, Inc. (Nasdaq: CBPO), one of the leading plasma-based biopharmaceutical companies in the People's Republic of China, today announced that its wholly-owned PRC subsidiary, Logic Management Consulting (China) Co., Ltd., has agreed to acquire the remaining 10% ownership in Guiyang Dalin Biologic Technologies Co., Ltd. ("Dalin"), a limited liability company established under the laws of the People's Republic of China, from Mr. Shaowen Fan, a PRC individual, pursuant to an Equity Transfer Agreement, dated January 4, 2011, between Logic China and Mr. Fan, for a purchase price of RMB 50 million (approximately $7,530,120).

Codexis, Inc. (Nasdaq:CDXS) congratulates Frances Arnold, Ph.D. and Willem P.C. "Pim" Stemmer, Ph.D., 2011 recipients of the prestigious Charles Stark Draper Prize from the National Academy of Engineering for their individual work in directed evolution.

Today eHealthInsurance (NASDAQ: EHT), the leading online source of health insurance for individuals and families, published answers to frequently asked questions for consumers who wish to enroll their children in individually purchased "child-only" health insurance policies in the state of Colorado.

ExamWorks Group, Inc. (NYSE: EXAM)
, the nation's leading provider of independent medical examinations (IMEs), peer reviews, bill reviews and related services, announced today that the Company has entered into a definitive agreement to acquire all of the outstanding stock of MES Group, Inc. (MES).

GeckoSystems Intl. Corp. (PINKSHEETS: GOSY) announced today that they have improved the safety and performance of their proprietary mobile robot navigation software, GeckoNav™ with the creation of their latest invention, GeckoImager™.

Hiru Corporation (PINK SHEETS:HIRU) subsidiary Jiangxi Shaungshi AHP reports that 4 of the company products passed China government testing.

InsWeb.com (NASDAQ: INSW), a leading online insurance comparison provider, today released a list of 6 common insurance mistakes Americans should avoid during a job or career transition.

MELA Sciences, Inc. (NASDAQ: MELA) today announced that Joseph V. Gulfo, MD, President and CEO, will be unable to present at the 13th Annual Needham Growth Conference. Flight cancellations in advance of the snow storm predicted for the East Coast have impacted his travel plans back from San Francisco.

Radient Pharmaceuticals Corporation (NYSE Amex: RPC), a US-based company specializing in the research, development, and international commercialization of In Vitro Diagnostic cancer tests, responded today on Johnson & Johnson's recent news announcing the research and development of a cancer blood test.

Regenicin, Inc. (OTC Bulletin Board:RGIN) a biotechnology company specializing in the development of regenerative cell therapies to restore the health of damaged tissues and organs, presented at the 4th annual OneMedForum at the Sir Francis Drake Hotel in San Francisco today, Tuesday, January 11th.

Savanna East Africa, Inc.(PINKSHEETS:NVAE) (OTCQB: NVAE) today announced the Company is scheduled to be featured in a NewMarket Technology, Inc. (PINKSHEETS: NWMTD) (OTCQB: NWMTD) Greenfield Partnership Program videocast planned for release this Friday, January 14th.

Sinovac Biotech Ltd. (Nasdaq:SVA), a leading provider of biopharmaceutical products in China, announced today that Mr. Jacob Ho, Acting Chief Financial Officer, Ms. Helen Yang, Investor Relations Manager, and Ms. Chris Lee, Investor Relations, are scheduled to attend the UBS Securities Greater China Conference.

SOHM, Inc. (PINKSHEETS: SHMN), generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories, announced today that the Company has made progress building alliances and market share within India's $1 billion nutraceutical and food supplementmarket.

Stereotaxis, Inc. (Nasdaq:STXS) announces the first successful cardiac ablation procedure with the Vdrive™ robotic navigation system as the company received CE Mark for this latest innovation.




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