ARCA surges on Novartis agreement. Strong earnings sends Incyte higher. Print E-mail
By BioMedReports.com Staff   
Tuesday, 03 May 2011 19:32
Below is a look at some of the headlines for companies that made news in the healthcare sector on May 03, 2011. Shares of ARCA biopharma, Inc. (Nasdaq:ABIO), soared today after the biopharmaceutical company developing genetically-targeted therapies for cardiovascular diseases announced that it has entered into an agreement with Novartis pursuant to which Novartis is acquiring global patent rights to an undisclosed molecular target. ARCA said it will receive an upfront payment of $2.0 million and is eligible to receive clinical, regulatory and commercial milestones totaling $17.5 million.

ARCA is also currently seeking or evaluating business development opportunities for multiple additional compounds in various stages of development which are outside the Company’s core focus area of cardiovascular disease. These business development efforts do not include ARCA’s lead compound, Gencaro, which is being developed for cardiovascular disease and for which the company is seeking strategic partners.
 
 More than 7 million shares traded hands as ARCA initially soared to $3.20 per share before easing back and ending the day at $2.10, up 22 cents or 11.7%.
 
Shares of Incyte Corporation (Nasdaq:INCY) jumped nearly 12% today after the company reported first quarter 2011 financial results as well as program updates. Both revenue and loss per share topped analysts' estimates. For the first quarter, Incyte reported a net loss per share of $0.21, compared to a loss of $0.30 last year while revenue for the quarter was $32 million, up 85% from the first quarter of 2010.
 
“With the achievement of positive results in both pivotal Phase III trials of ruxolitinib in myelofibrosis, we and Novartis are focused on our respective regulatory filings and both companies remain on target to submit marketing applications in the second quarter,” stated Paul A. Friedman, M.D., Incyte's President and Chief Executive Officer. “Additionally, we have received confirmation that the data from COMFORT-I and COMFORT-II will be the subject of oral presentations both at ASCO and at EHA in June.” Dr. Friedman added, “These presentations represent the first time that patients with myelofibrosis and the physicians who treat them will have the opportunity to see these robust data that demonstrate the efficacy and safety profile of ruxolitinib as compared to both placebo and best- available therapy.”
 
On heavy volume shares gained $2.17 to $20.43.

Adeona Pharmaceuticals, Inc. (AMEX:AEN), a developer of innovative medicines for serious central nervous system diseases, announced today that after scientific review, the ongoing clinical trial of its Trimesta (oral estriol) drug candidate for multiple sclerosis (MS) has received an additional $1,594,553 in grant funding from the National Institutes of Health/National Institute of Neurological Disorders and Stroke (NIH/NINDS). The clinical trial is led by Rhonda Voskuhl, M.D., Director, University of California, Los Angeles (UCLA) Multiple Sclerosis Program, UCLA Department of Neurology. Along with the recent grant award of $409,426 received from the National Multiple Sclerosis Society (NMSS), this NIH/NINDS grant award should support the ongoing Trimesta clinical trial to its completion.   "The goal of this clinical trial is to demonstrate a reduction in the rate of relapses in female MS patients with a treatment regimen of oral Trimesta added to the standard of care Copaxone. MS is a debilitating disease, therefore, slowing the progression of the disease could potentially allow these patients to achieve a more normal quality of life," said Dr. Voskuhl. "We are very grateful to the NIH for supporting this important mission. Their commitment to pursuing estriol as a novel treatment for MS has been unwavering."
 
Discovery Laboratories, Inc. (Nasdaq:DSCO), announced that new data from a study using aerosolized KL4 surfactant demonstrated a significant improvement in lung function and survival when treating Acute Lung Injury (ALI) in a well-established preclinical model of this severe respiratory condition. The study was presented at the Pediatric Academic Societies (PAS) Annual Meeting, internationally recognized as the largest, most relevant medical meeting dedicated to pediatric research.
Dr. Mark C. Mammel, Professor of Pediatrics at the University of Minnesota, Director of Newborn Research & Education at Children's Hospital & Clinics of Minnesota and senior author of the study commented, "This study is important, as it is the first successful use of an aerosolized surfactant in a model of ALI to our knowledge. Discovery Labs' aerosolized KL4 surfactant allows us to contemplate non-invasive surfactant delivery as a means of potentially preventing disease progression and the need for aggressive critical care intervention that is typical for ALI patients today."
 
Lexicon Pharmaceuticals, Inc. (Nasdaq:LXRX), a biopharmaceutical company focused on discovering and developing breakthrough treatments for human disease, today updated its drug development progress and reported financial results for the three months ended March 31, 2011.
"Our pipeline of first-in-class drugs continues to make significant progress. Results from a mechanistic study of a tablet formulation of LX4211 in diabetes patients provided further confirmation of the drug's unique dual mechanism of action, and preparations to initiate a Phase 2b study of LX4211 in the second quarter are on track," said Dr. Arthur T. Sands, president and chief executive officer of Lexicon. "In addition, we anticipate completing enrollment in the U.S. Phase 2a clinical trial of LX1032 in patients with carcinoid syndrome in the second quarter, with results expected shortly thereafter."
 
Shares of QLT Inc. (Nasdaq:QLTI) (TSX-V:QLT) Ganied nearly 6% today after the company announced positive preliminary results from its Phase 1b proof-of-concept clinical trial of QLT091001 for the treatment of Leber Congenital Amaurosis (LCA), a rare and disabling childhood blindness. Analysis of data from 12 subjects with LCA who were treated with QLT091001 for seven days has been conducted to determine improvements in two distinct measures of visual function: visual acuity and visual fields. The study demonstrated that treatment with QLT091001 resulted in clinically meaningful improvement in either or both visual acuity and visual fields in 8 of the 12 subjects. Statistically significant and clinically meaningful changes in visual fields from baseline values were also noted in a conservative analysis subset of 7 subjects across this heterogeneous low vision population.
 
Techne Corporation (NASDAQ:TECH) announced today that it has acquired 100% ownership of Tocris Holdings Limited and subsidiaries, a leading supplier of reagents for non-clinical life science research. Tocris' products are used in both in-vitro and in-vivo experiments, to understand biological processes and diseases. The business is focused on making biologically active neuro- and bio-chemicals which are used by researchers to elucidate biological processes and pathways. The products are used in life-science research activities and as part of the initial drug discovery process. Tocris currently offers over 2,900 chemical, peptide and antibody products. The principal end users are non-clinical laboratory based researchers, working in areas such as neuroscience, cardiovascular disease, endocrinology and cellular processes. Tocris was acquired for 75 million pounds Sterling (approximately $124 million) in cash.
 
 
Also Tuesday:


3SBio Inc. (NASDAQ:SSRX) ("3SBio" or "the Company"), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced that it will release its first quarter 2011 unaudited financial results after the NASDAQ stock market  closes on Wednesday, May 11, 2011 at 8:00pm (US Eastern ).

Adeona Pharmaceuticals, Inc. (AMEX:AEN), a developer of innovative medicines for serious central nervous system diseases, announced today that after scientific review, the ongoing clinical trial of its Trimesta™ (oral estriol) drug candidate for multiple sclerosis (MS) has received an additional $1,594,553 in grant funding from the National Institutes of Health/National Institute of Neurological Disorders and Stroke (NIH/NINDS).

ALDA Pharmaceuticals Corp. (TSX VENTURE:APH)(OTCQB:APCSF) (the "Company" or "ALDA") announces that a joint venture agreement has been established with Seavan Health & Beauty Partnership ("Seavan"). Under the terms of the agreement, Seavan will manufacture ALDA's products and ALDA's personnel will undertake the marketing and sales of Seavan's products and services in addition to those of ALDA.

Anthera Pharmaceuticals, Inc. (Nasdaq:ANTH), today announced financial results and business highlights for the quarter ended March 31, 2011.

Avanir Pharmaceuticals, Inc. (NASDAQ:AVNR) today announced that company management will present an overview of the company at the Bank of America Merrill Lynch Healthcare conference in Las Vegas, NV.

Bacterin International Holdings, Inc. (NYSE Amex:BONE), a developer of revolutionary bone graft material, today announced that, subject to NYSE Amex approval, Bacterin has raised $1,874,502 in a private placement transaction.

Biodel Inc. (Nasdaq:BIOD)
will issue its second quarter fiscal year 2011 financial results on May 5, 2011.

Bio-Rad Laboratories, Inc. (NYSE: BIO) and (NYSE: BIO.B), a multinational manufacturer and distributor of life science research and clinical diagnostic products, announced financial results today for the first quarter ended March31, 2011.

Chembio Diagnostics, Inc. (OTCQB: CEMI), which develops, manufactures, markets and licenses point-of-care diagnostic tests, reported today that it has been notified that Bio-Manguinhos, a division of the Oswaldo Cruz Foundation of Brazil ("FIOCRUZ"), has received regulatory approval from Brazil's National Health Surveillance Agency ("ANVISA") to market Chembio's Dual Path Platform (DPP®) Syphilis Treponemal test, a point-of-care test for Syphilis.

CONMED Corporation (NASDAQ: CNMD), a medical technology company specializing in medical devices for surgical and patient monitoring markets, announced today that the Company will participate in the Bank of America Merrill Lynch Health Care Conference on Wednesday, May 11, 2011 at 1:40 PM Pacific Time.

Cytori Therapeutics (NASDAQ: CYTX) elected the Honorable Tommy G. Thompson, former Secretary of the US Department of Health & Human Services and Governor of Wisconsin, as an independent member of Cytori's Board of Directors.

Cynosure, Inc. (NASDAQ:CYNO) today announced financial results for the three months ended March 31, 2011.

EffTec International, Inc. (PINKSHEETS: EFFI), provider of a leading HVAC water-cooled chiller optimization solution, is pleased to announce that the Company is increasing its global presence with a marketing and sales initiative in Latin America.

Generex Biotechnology Corporation (OTCBB: GNBT) today announced publication of results of studies applicable to the early diagnosis, and possibly treatment of, Type 1 diabetes.  

Genomic Health, Inc. (Nasdaq:GHDX) today reported financial results and business progress for the quarter ended March 31, 2011.

GenVec, Inc. (Nasdaq: GNVCD) announced that it will release financial results for the first quarter ended March 31, 2011 on Monday, May 9, 2011 after market close.

Given Imaging Ltd. (NASDAQ: GIVN), a world leader in specialty GI products and pioneer of capsule endoscopy, today announced that more than 150 podium and poster sessions featuring the Given Imaging product lines will be presented at the upcoming Digestive Disease Week (DDW).

Lexicon Pharmaceuticals, Inc. (Nasdaq:LXRX), a biopharmaceutical company focused on discovering and developing breakthrough treatments for human disease, today updated its drug development progress and reported financial results for the three months ended March 31, 2011.

Mediware Information Systems, Inc. (NASDAQ: MEDW), a provider of comprehensive healthcare software solutions for blood, medication and performance management, reported total revenue of $13.8 million for the third quarter of FY 2011, an eight percent increase over the $12.8 million reported in the comparable quarter in fiscal 2010.

Mettler-Toledo International Inc. (NYSE:MTD) today announced the webcast of its presentation at the Baird Growth Stock Conference in Chicago on Tuesday, May 10, 2011, at 1:30 p.m. Central Time (2:30 p.m. Eastern Time).  

mPhase Technologies, Inc. (OTCBB: XDSL) today announced that it has been invited to present at a symposium on, "Energy Storage Products and NJTC Partnering Session," at the New Jersey Institute of Technology, Newark, New Jersey, May 5, 2011, 4:30 PM -7:00 PM.

Nationwide Health Properties, Inc. (NYSE: NHP) announced today that its Board of Directors declared a quarterly common stock cash dividend of $0.48 per share.

NHXS (PINKSHEETS: NHCR) today announced that it will make its robust claims adjudication platform available through an Application Programming Interface (API).

Novavax, Inc. (Nasdaq:NVAX) will report financial results for the first quarter of 2011 on Monday, May 9, 2011, before the U.S. financial markets open.

NuPathe Inc. (NASDAQ: PATH), a specialty pharmaceutical company focused on the development and commercialization of branded therapeutics for diseases of the central nervous system, including neurological and psychiatric disorders, will report first quarter 2011 results on Tuesday, May 10, 2011 before the open of the U.S. financial markets.

Oncothyreon Inc. (Nasdaq: ONTY) announced today that Robert Kirkman, M.D., President and Chief Executive Officer, will present at the 10th Annual JMP Securities Research Conference in San Francisco on Monday, May 9, 2011, at 11:30 a.m. Pacific Time.

OPTIMIZERx Corporation (OTCBB: OPRX) announced today that it has representatives attending the 2011 HCP Spring Hospital Pharmacy Conference, May 2-4 in San Antonio, Texas.

Sigma-Aldrich (NASDAQ:SIAL) Declares Quarterly Dividend.  

SOHM, Inc. (PINKSHEETS: SHMN), a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories announced today that demand for its branded pharmaceutical products has surged within India.

Sun Healthcare Group, Inc. (NASDAQ: SUNH) today announced its operating results for the first quarter ended March 31, 2011.

Techne Corporation (NASDAQ:TECH) (Techne) announced today that it has acquired 100% ownership of Tocris Holdings Limited and subsidiaries (Tocris), a leading supplier of reagents for non-clinical life science research.

Rosetta Genomics, Ltd. (NASDAQ: ROSG) today announced the launch of a U.S. oncology sales team for the commercialization of its microRNA-based diagnostic tests, with a primary focus on its miRview™ mets and mets² tests for the accurate identification of the primary tumor site in metastatic cancers and Cancer of Unknown Primary (CUP).

TomoTherapy Incorporated (NASDAQ: TOMO)
, maker of advanced radiation therapy solutions for cancer care, today released financial results for the first quarter ended March 31, 2011.

Techne Corporation's (NASDAQ:TECH) consolidated pretax net earnings for the quarter ended March 31, 2011 increased 9.5% to $45.4 million compared with $41.4 million for the quarter ended March 31, 2010, mainly as a result of increased sales and foreign exchange transaction gains, partially offset by increased selling, general and administrative expenses.

TomoTherapy Incorporated (NASDAQ: TOMO), maker of advanced radiation therapy solutions for the treatment of cancer and other diseases, today announced a new feature for its TomoTherapy® radiation therapy treatment system that provides dosimetrists, physicists and physicians the ability to develop and approve treatment plans from virtually anywhere in the world.

Verenium Corporation (NASDAQ:VRNM), a pioneer in the development and commercialization of high-performance industrial enzyme solutions, today announced that Jeff Black, Senior Vice President and Chief Financial Officer, will present at the upcoming MDB Capital Group Bright Lights Conference.  

Verenium Corporation (NASDAQ:VRNM), a pioneer in the development and commercialization of high-performance industrial enzyme solutions, today announced that several members of management will speak at the 2011 BIO World Congress on Industrial Biotechnology and Bioprocessing.




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