|Omeros shares gain on positive Phase IIb data. Pozen licenses migraine drug to JNJ in South America. After the bell: MediciNova slumps on offering|
|By Staff and Wire Reports|
|Wednesday, 23 March 2011 18:36|
After the bell, shares of MediciNova, Inc.(Nasdaq:MNOV) slumped after the company announced it will sell 2.7 million shares at $3.00 per share for gross proceeds of $8.25 million. In extended trading shares fell 52 cents or 14% to $3.04.
Shares gained 64 cents or 10.58% to $6.69.
Shares of POZEN Inc. (NASDAQ:POZN), moved higher after the company announced that it has entered into a license agreement with Cilag GmbH International, a division of Johnson & Johnson, for the development and commercialization of MT 400 in Brazil, Colombia, Ecuador and Peru. MT 400 is POZEN’s proprietary combination of sumatriptan and naproxen sodium, the first multiple mechanism triptan therapy for the treatment of migraine. POZEN previously licensed U.S.-only rights to MT 400 to GlaxoSmithKline, who markets a different dose of MT 400 as Treximet.
Shares were up 18 cents or 4% to $4.93.
Gilead Sciences, Inc. (Nasdaq:GILD) today announced that the Phase III clinical trial of its investigational antiretroviral agent elvitegravir, a novel oral integrase inhibitor being evaluated for the treatment of HIV-1 infection in treatment-experienced patients, met its primary objective. The primary endpoint of this study was non-inferiority at week 48 of elvitegravir, dosed once daily, compared to raltegravir, dosed twice daily, each administered with a background regimen that includes a ritonavir-boosted protease inhibitor (PI) and a second antiretroviral agent.
Rexahn Pharmaceuticals, Inc. (NYSE Amex: RNN), today announced that it has enrolled 33 percent of the total projected patients required for its Phase IIb clinical trial of Serdaxin to treat major depressive disorder (MDD). The study calls for enrollment of up to 300 patients and is being conducted at approximately 40 sites in the United States. Enrollment for the Phase IIb trial was initiated in January 2011. "We are pleased with the rapid progress we are making in Serdaxin’s Phase IIb trial enrollment," said Rick Soni, President of Rexahn. "We remain on track to complete enrollment in the first half of 2011, with preliminary results expected in late 2011."
AdCare Health Systems, Inc. (NYSE Amex: ADK) , a leading skilled nursing and assisted living provider, reported unaudited financial results for the fourth quarter and fiscal year ended December 31, 2010.