Icagen resumes trial, shares soar. Chelsea therapeutics suffers study setback. Derma sciences jumpes in AH |
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By BioMedReports.com Staff |
Wednesday, 02 February 2011 19:57 |
![]() Derma Sciences, Inc. (Nasdaq:DSCI), moved higher after the bell. The medical device and pharmaceutical company focused on advanced wound care, announced that it will issue a news release with top-line efficacy results from its Phase 2 trial with DSC127 in diabetic foot ulcers at 7:00 a.m. Eastern time Thursday, February 3 and will hold a conference call to discuss those results at 10:00 a.m. Eastern time that same day. More than 4,000 shares traded with a last tick at $10.66, up $3.99 or 60%.
After the bell, shares of Sangamo BioSciences, Inc. (Nasdaq:SGMO) got a boost as the company reported fourth quarter and full year 2010 financial results. The stock was up 84 cents or 11% to $8.49. Icagen, Inc. (Nasdaq:ICGN) soared today after the company announced that has notified the Company that the clinical hold on Icagen's IND for ICA-105665, a novel orally available small molecule KCNQ potassium channel agonist, has been removed. The announcement is a result of a review of data from recently completed clinical studies as well as the Company's proposed protocol for a Phase II clinical trial in patients with treatment resistant epilepsy. "We are pleased with the FDA's action and will shortly be determining the next steps in the clinical development of our epilepsy drug candidate, ICA-105665," noted President and CEO P. Kay Wagoner. ICA-105665 is an oral treatment intended to treat photosensitive epilepsy, a condition in which patients can suffer seizures after seeing bright colors or flashing lights. The company stopped a clinical trial for the drug in September 2010 after a patient taking the 600 mg dose experienced a serious side-effect. Shares of Icagen raced to an intra-day high of $4.46 before pulling back and settling the day at $3.72, up 31 cents or 9%. More than 2 million shares traded. Shares of Chelsea Therapeutics International, Ltd. (Nasdaq:CHTP) took a hit today after the company announced plans to modify Study 306, a late-stage study of its hypotension drug, after an interim analysis showed the trial may not meet its main goal. The drug, Northera, is being tested for the treatment of neurogenic orthostatic hypotension (NOH), a chronic and often debilitating drop in blood pressure upon standing up. The latest study was testing the drug symptomatic NOH associtaed with Parkinson disease. Approxiametly 40% of all NOH cases are linked to Parkinson's disease. Investors worry that the disappointing data could affect the drug's label, limiting the indications it could be prescribed for. More than 5 million shares changed hands as the stock dropped $1.14 or 18.45% to $5.04. Inovio Pharmaceuticals, Inc. (NYSE Amex: INO), a leader in the development of therapeutic and preventive vaccines against cancers and infectious diseases, announced today the publication of a scientific paper in the journal Human Vaccines detailing potent immune responses in a preclinical study of Inovio's SynCon DNA vaccine for prostate cancer targeting two antigens. While current prostate cancer therapies target single antigens, in this study Inovio tested the hypothesis in mice that a broader collection of antigens, administered with Inovio's electroporation-based delivery technology, would improve the breadth and effectiveness of a prostate cancer immunotherapy. On heavy volume, shares hit an intra-day high of $1.50 before pulling back and closing at $1.30, up a penny. Also Wednesday: Amarin Corporation plc (Nasdaq:AMRN) , a clinical-stage biopharmaceutical company with a focus on cardiovascular disease, today announced that Paul E. Huff has joined the Company as Chief Commercial Officer.
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