Shares of K-V Pharma soar. Oncolystics pancreatic cancer study hits primary endpoint. Vical's Phase 3 study gets positive safety review Print
By BioMedReports.com Staff   
Monday, 14 February 2011 20:13
Below is a look at some of the headlines for companies that made news in the healthcare sector on February 14, 2011.


Shares of K-V Pharmaceutical Company (NYSE:KVa) shot up nearly 50% today. This morning the company announced that it will raise $32 million in a private placement of stock and is also working on a $130 million financing facility. K-V will use the proceeds to pay down $20 million in debt and use the rest for corporate expenses including funding for its launch of Mekena, the company's prevenative pre-term birth treatment which was recently approved by the FDA.

7.7 million shares traded hands as the stock soared $2.15 to $6.53.

Oncolytics Biotech Inc. (Nasdaq:ONCY) (TSX:ONC.to) today announced preliminary results from a U.S. Phase II clinical trial using intravenous administration of REOLYSIN in combination with gemcitabine (Gemzar) in patients with advanced pancreatic cancer. The trial, REO 017, is being conducted at the Cancer Therapy & Research Center at The University of Texas Health Science Center at San Antonio (CTRC). The Principal Investigator is Dr. Monica Mita of the CTRC.

"When we opened the study we anticipated positive results based on preclinical models and on the high frequency of Ras pathway abnormalities in pancreatic cancer," said Dr. Monica Mita. "We are, however, impressed by the fact that the study met the endpoint so early. We are eager to complete the study and to proceed to the next step of development for this combination."

Shares of Oncolytics gained 30 cents or 4.85% to $6.48.

Shares of Vical Incorporated (Nasdaq:VICL) gained more than 6% today after the company announced that an independent Safety Monitoring Board for the company's Phase 3 trial of Allovectin-7 in patients with metastatic melanoma has completed the trial's fifth scheduled safety analysis and recommended that the trial continue as scheduled.

The Phase 3 trial was initiated in January 2007 and is evaluating Allovectin-7 as first-line therapy in patients with Stage III or IV recurrent metastatic melanoma. The company expects to complete patient follow-up and lock the Phase III clinical trial database in the second half of 2011.

Published results from a completed Phase 2 trial of Allovectin-7 in 127 chemo-refractory or chemo-intolerant patients with metastatic melanoma compare favorably with historical controls from other studies. Among the 15 responders (11.8%), 4 had complete responses and 11 had partial responses. The median duration of response was 13.8 months, and all responses were durable, lasting at least 6 months. The median survival for all patients was 18.8 months.

Shares gained 11 cents to $.85.

Acura Pharmaceuticals, Inc. (Nasdaq:ACUR) today announced that it has been informed by King Pharmaceuticals Research and Development Inc. that King's NDA for ACUROX (oxycodone HCl) Tablets was accepted for filing by the FDA with a Priority review classification and a PDUFA date of June 17, 2011.

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) today announced that previously reported positive clinical data evaluating tivozanib, its lead product candidate designed to optimally block the VEGF pathway by inhibiting all three VEGF receptors, in patients with renal cell carcinoma will be featured in several poster presentations at the American Society of Clinical Oncology 2011 Genitourinary Cancers Symposium being held February 17-19, 2011 at the Orlando World Center Marriott in Orlando, Fla.

Also Monday:

ADVENTRX Pharmaceuticals, Inc. (NYSE Amex:ANX) today announced that it has entered into a definitive agreement to acquire SynthRx, Inc., a private biotechnology company developing a purified form of a rheologic and antithrombotic agent, poloxamer 188.


Adherex Technologies Inc. (TSX:AHX) (PINK SHEETS:ADHXF), a biopharmaceutical company focused on the development of eniluracil and 5-fluorouracil, announced today that it has set February 24, 2011 as the record date for determination of the shareholders of Adherex entitled to receive subscription rights in Adherex's previously announced rights offering.

AtheroNova Inc. (OTCBB: AHRO), a biotech company focused on the research and development of compounds to regress atherosclerotic plaque, announced that the Company's second phase pre-clinical laboratory study has commenced at the Cedars-Sinai Heart Institute's Division of Cardiology and Oppenheimer AtherosclerosisResearch Center under the overall direction of P.K. Shah, MD.

Bohai Pharmaceuticals Group, Inc. (OTC Bulletin Board/OTCQB: BOPH), a China-based pharmaceutical company engaged in the production, manufacturing and distribution of Traditional Chinese Medicine (TCM) in China, today reported record financial results for its second quarter of fiscal 2011 ended December 31, 2010.

Genesis Biopharma, Inc. (OTC Bulletin Board:GNBP), a biotechnology company developing targeted cancer therapies, today announced that Anthony J. Cataldo, President and Chief Executive Officer, and Robert Brooke, a strategic advisor to the Company, will present to investors as part of the Lippert/Heilshorn & Associates Life Sciences & Medical Technologies On-Line Forum on Thursday, February 17, 2011 at 10:30 a.m. Eastern (7:30 a.m. Pacific).

Idenix Pharmaceuticals, Inc., (Nasdaq:IDIX) announced today that it will report its financial results for the fourth quarter and year end of 2010 on Monday, February 28, 2011 after U.S. financial markets close.

Neuro-Biotech Corp. (PINKSHEET: MRES) (OTCQB: MRES) Dr Claude Poulin CEO is pleased to announce, that, following the Unsolicited Offer received on February 9, the Company is currently finalizing their Due Diligence and will be able to provide further details on the offering company as well as management conclusion on Tuesday February 15 at 1pm, in the form of a Press Release.

Northwest Biotherapeutics (OTC Bulletin Board:NWBO) announced today that its Chair of the Board of Directors, Ms. Linda Powers, will give a corporate presentation at the 13th Annual Biotechnology Industry Organization's BIO CEO & Investor Conference being held February 14th, 2011 at 2:00 pm in the Conrad Room of the Waldorf Astoria Hotel in New York City.

OXIS International, Inc., (OTC Bulletin Board:OXIS; Paris: OXI) today announced that Anthony Cataldo, Chief Executive Officer, and Bernie Landes, President, will present to investors as part of the Lippert/Heilshorn & Associates Life Sciences & Medical Technologies On-Line Forum on Thursday, February 17, 2011 at 12:30 p.m. Eastern (9:30 a.m. Pacific).

PROLOR Biotech, Inc. (NYSE Amex:PBTH), a company developing next generation biobetter therapeutic proteins, today reported that patient enrollment and dosing in the Phase II trial of its long-acting version of human growth hormone (hGH-CTP) are proceeding according to plan, with study completion targeted for mid-year 2011.

Remedent, Inc. (OTCBB: REMI), an international company specializing in research, development, and manufacturing of oral care and cosmetic dentistry products, reported results for the third quarter ended December 31, 2010 (in US Dollars).

TechPrecision Corporation (OTC Bulletin Board:TPCS), a leading manufacturer of large-scale, high-precision metal machining fabrications and assemblies with customers in the alternative energy, medical, nuclear, defense, aerospace and other commercial industries, today announced that it has received a new medical purchase order valued at approximately $450,000.

Thoratec Corporation (Nasdaq:THOR), a world leader in device-based mechanical circulatory support therapies to save, support and restore failing hearts, announced today that its Board of Directors has authorized the repurchase of up to $100 million of the company's shares of common stock over the next year.

UFood Restaurant Group Inc. (OTCBB: UFFC) announced today that the U.S. Small Business Administration (SBA) has listed its UFood Grill healthy fast casual restaurant concept on its official Franchise Registry.

 




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