|Halozyme and ViroPharma in licensing deal. Allos earnings disappoint|
|By Staff and Wire Reports|
|Wednesday, 11 May 2011 19:47|
Shares of Halozyme Therapeutics, Inc. (Nasdaq:HALO) edged higher Wednesday after the company announced the signing of a worldwide exclusive licensing agreement for the use of rHuPH20 (recombinant human hyaluronidase) in the development of a subcutaneous formulation of Cinryze with ViroPharma Incorporated (Nasdaq:VPHM). Halozyme may receive up to $83 million, commencing with an upfront payment of $9 million and total potential future milestone payments of $74 million dependent upon the achievement of clinical and regulatory targets, plus a 10% royalty on future sales of the combination of Cinryze with rHuPH20. The license provides ViroPharma with exclusivity to C1 esterase inhibition and to the hereditary angioedema (HAE) indication, along with three additional orphan indications. ViroPharma will fund all development and commercialization expenses for the program.
Halozyme traded as high as $7.00 before settling the day at $6.77, up 10 cents.
Shares of Allos Therapeutics, Inc. (Nasdaq:ALTH) fell Wednesday. Late Tuesday the company reported Q1 financial results that were below expectations. Revenue rose 47 percent to $10.9 million from $7.4 million, the company said it lost $15.2 million, or 14 cents per share, compared with a loss of $20.5 million, or 20 cents per share, during the same period a year ago. Allos cited disappointing sales for its lymphoma drug Folotyn, the company's only marketed drug. The company is now forecasting between $48 and $55 million in sales for 2011, below the $62 million that analysts had expected.
Shares of Allos dropped 26 cents or 9% to $2.59
Shares of Centene Corporation (NYSE:CNC) made a sudden jump in late trading Wednesday after the company said it wouldn't attend the BofA/Merrill Healthcare Conference and gave no reason for the cancellation. Centene Corporation is a leading multi-line healthcare enterprise that provides programs and related services to the rising number of under-insured and uninsured individuals.
On heavy volume, shares were up $1.66 or 4.5% to $37.21.
Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) (the "Company") will announce its first quarter 2011 financial and operating results before market open on Wednesday, May 18, 2011.
AMD (NYSE: AMD) today announced a collaboration with Acceleware (TSX VENTURE:AXE) whereby the companies will deliver professional training programs to help developers learn how to create applications that comply with OpenCL™ standards.
Arrhythmia Research Technology, Inc. (the "Company") (NYSE Amex: HRT) and its subsidiaries reported total consolidated revenue of $6,183,065 for the three months ended March 31, 2011 compared to $5,585,360 for the three months ended March 31, 2010, an increase of $597,705 or 11%.
BIOLASE Technology, Inc. (NASDAQ: BLTI), the World's leading dental laser manufacturer and distributor, today announced that it received the ASTRUM Award, presented by MDB Capital Group to Federico Pignatelli, Chairman and CEO, and Dmitri Boutoussov, Vice President of Engineering and Development, at the 2nd annual Bright Lights Conference at the Le Parker Meridien Hotel in New York City.
BioSpecifics Technologies Corp. (NASDAQ:BSTC), a biopharmaceutical company developing first in class collagenase-based products, today announced that BioSpecifics' President, Tom Wegman, will present at SEVEN, Noble Financial Capital Markets' Seventh Annual Equity Conference on Tuesday, May 17th at 9:30am EDT at the Hard Rock Hotel in Hollywood, Florida.
Caliper Life Sciences, Inc. (NASDAQ:CALP) today announced a partnership with The Genome Analysis Centre (TGAC), a leading high throughput sequencing and analysis center based in Norwich, UK establishing TGAC as a National Reference Site.
Celsius Holdings, Inc. (OTCQB: CELH), the creator and marketer of Celsius®, Your Ultimate Fitness Partner™, today reported their results of operations for the first quarter ended March 31, 2011.
CNS Response, Inc. (OTCBB: CNSO) is helping to launch a new series of suicide prevention Public Service Announcements (PSAs) to support military personnel and their families.
Edwards Lifesciences Corporation (NYSE: EW), the global leader in the science of heart valves and hemodynamic monitoring, announced that interim data from a multi-center European prospective study of the investigational EDWARDS INTUITY Valve System showed promising results for patients undergoing surgical aortic valve replacement (AVR).
Given Imaging Ltd. (NASDAQ: GIVN), a world leader in GI medical devices and pioneer of capsule endoscopy, announced today that data from the largest European multicenter study of PillCam® COLON 2 conducted to date confirm that the second-generation PillCam COLON capsule has higher sensitivity for colorectal polyp detection than the first generation technology.
Healthnostics, Inc. (PINKSHEETS: HNSS) announced that the initial $500,000 funding of HNS Fund Co. is nearing completion.
IntelGenx Technologies Corp. (TSX VENTURE:IGX)(OTCBB:IGXT) ("IntelGenx") today announced its financial results for the three month period ended March 31, 2011 and highlighted recent business developments.
Life Technologies Corporation (NASDAQ:LIFE) announced today that it has given notice of its intention to redeem all of the outstanding 3.25% Convertible Senior Notes due 2025 (the "2025 Convertible Notes") on June 15, 2011.
MedeFile International, Inc. (OTCQB: MDFI), a leader in Internet-enabled Personal Health Record (iPHR) management solutions, and MedSave USA, Inc., one of the nation's leading providers of healthcare cost containment and medical record retrieval services, today jointly announced that the Companies will be partnering to actively market MedeFile's patient-centric iPHR system as a value-added service to MedSave USA's global client base, which are comprised of insurance companies, health insurance companies, healthcare providers, self-insured employers, third party administrators and government payer organizations.
Nile Therapeutics, Inc. (NASDAQ:NLTX), a biopharmaceutical company that develops novel therapeutics for heart failure patients, today announced that the Company's securities will cease trading on The Nasdaq Capital Market effective with the open of business on May 12, 2011.
Novavax, Inc. (Nasdaq:NVAX) has been named Biotechnology Firm of the Year by the Tech Council of Maryland (TCM), the largest technology trade group serving the advanced technology and biotechnology communities of Maryland.
Oncolytics Biotech Inc. (TSX: ONC) (NASDAQ: ONCY) ("Oncolytics" or the "Company") today announced that it has entered into a commercial supply agreement with SAFC, a Division of Sigma-Aldrich Corporation, for the commercial manufacture of REOLYSIN®, Oncolytics proprietary reovirus.
OncoSec Medical Inc. (OTCBB: ONCS), a therapeutic oncology company developing innovative medical approaches to treat solid tumor cancers that have unmet medical needs, announced today the appointment of three members to its leadership team.
Oramed Pharmaceuticals Inc. (OTCBB: ORMP.OB) (http://www.oramed.com), a developer of oral delivery systems, announced today that it was chosen to present at the 10th National Life Science & Technology Week ILSI-BIOMED Conference, Israel 2011.
Palatin Technologies, Inc. (NYSE Amex:PTN), a biopharmaceutical company developing bremelanotide for sexual dysfunction indications and PL-3994 for acute asthma and other indications, held its annual meeting of stockholders today in Cranbury, N.J.
PharmAthene, Inc. (NYSE Amex:PIP), a biodefense company developing medical countermeasures against biological and chemical threats, today reported financial and operating results for the first quarter ended March 31, 2011.
SEI (NASDAQ: SEIC) today released the findings of a new gauge that will provide updated statistics on the state of plan design for U.S. corporate defined benefit plans.
SeraCare Life Sciences, Inc. (NASDAQ:SRLS), a global life sciences company providing vital products and services to facilitate the discovery, development and production of human diagnostics and therapeutics, today announced the election of Joseph Nemmers and Kevin Hrusovsky to its Board of Directors.
Therapeutic Solutions International, Inc. (OTCQB: TSOI) (PINKSHEETS: TSOI), the only manufacturer of the chairside NTI Tension Suppression System (NTI-tss) that has helped countless patients prevent debilitating migraine and tension headache pain, announced today the signing of a sales and distribution agreement with Alpha Dental Supplies Ltd., a dental supply company headquartered in Toronto, Ontario Canada.
Verenium Corporation (Nasdaq:VRNM), a leading industrial biotechnology company focused on the development and commercialization of high-performance enzymes, today announced James Levine, President and Chief Executive Officer, will present at two upcoming conferences.
Wave Systems Corp. (NASDAQ: WAVX) (www.wave.com) announced today that Northern Health and Social Care Trust of Northern Ireland has deployed self-encrypting drives (SEDs) managed by Wave's EMBASSY® software to protect sensitive and confidential personal health information (PHI) stored on 600 laptops today (rising to 700 laptops within the next nine months).
YM BioSciences Inc. (NYSE Amex: YMI, TSX: YM), a life sciences company developing a diverse portfolio of promising hematology and cancer-related products, today reported operational and financial results for the third quarter of fiscal 2011, ended March 31, 2011.