Positron Awarded $38 Million in Area Bonds; Orexigen and Human Genome Sciences climb Print E-mail
By Staff and Wire Reports   
Wednesday, 21 September 2011 23:57

Below is a look at some of the headlines for companies that made news in the healthcare sector on September 21, 2011.


Positron Corporation (OTC:POSC), a leading molecular imaging company specializing in the field of nuclear cardiology, announced the Indiana Finance Authority (IFA) approved its $38,000,000 Midwestern Disaster Area Bond volume cap application.

Indiana Economic Development Corporation (IEDC), E. Mitchell Roob, Jr., CEO of IEDC, recommended to the public finance director of the State of Indiana, Kendra York, that the IFA award Midwestern Disaster Area Bonds to the applicant, Positron Corporation, for their 70 MeV cyclotron facility project in Noblesville, Indiana.

The bonds will be part of an overall long-term strategic investment Positron is making in its proposed high energy 70 MeV cyclotron project and radiopharmaceutical manufacturing facility in Noblesville, Indiana. On June 10, 2011, Positron announced it had proposed to make a capital investment of approximately $55 million dollars for this project, in conjunction with significant economic development incentives from the City of Noblesville and the State of Indiana, as well as various other project financing opportunities.

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Shares of Human Genome Sciences (NASDAQ:HGSI) rose 12% to $14.58 on Wednesday following the company's news that their lupus drug Benlysta was selling better than expected. According to analysts at Leerink Swann, August sales of Benlysta were $6.5 million, up from $4.9 million in July. The analysts said they had expected August sales of $6.3 million. The firm reiterated its outperform rating on the stock, with a valuation of $22. Contributing columnist David Zanoni, called attention to HGSI as a potential buyout candidate in his article for our readers. HGSI has GlaxoSmithKline as a marketing partner, who is currently conducting phase 3 tests of Darapladib and Albutide. Glaxo would be one logical buyer of HGSI as they already have a business relationship established.

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Orexigen Therapeutics Inc (Nasdaq:OREX) rose another 49 percent to $2.19 today after the company said it plans to begin a large heart-safety trial of its experimental Contrave obesity drug in 2012, and favorable results could win over regulators who rejected the pill early this year. In today's action, which continued positively into after hours trading, approximately 11,400,700 shares changed hands, a 2,257.4 percent increase over its 65-day average volume. The shares rose $.72.

Orexigen, one of three companies with rival obesity treatments competing for approval, will start a two-year clinical trial to study heart risks in the first half of next year, aiming to receive approval for Contrave in 2014.

Orexigen had said back on June 3 that it would halt U.S. development of Contrave after the FDA said a large study on heart risks would be required before the drug could be approved.


Also Wednesday:


3SBio Inc. (Nasdaq: SSRX), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced the results of shareholder votes at its Annual General Meeting of shareholders held on September 20, 2011.

ACADIA Pharmaceuticals Inc. (Nasdaq:ACAD)
, a biopharmaceutical company utilizing innovative technology to fuel drug discovery and clinical development of novel treatments for central nervous system disorders, today announced that it will present at the Sixth Annual JMP Securities Healthcare Conference on Wednesday, September 28, 2011, at 12:00 p.m. Eastern Time at The St. Regis Hotel in New York City.

Allezoe Medical Holdings, Inc. (OTCBB:ALZM) announced earlier this week that it has agreed to acquire patent pending technology that would enable healthcare providers to "see and treat" Human Papillomavirus (HPV), the most common sexually transmitted infection and a cause of cervical cancer, In addition to offering easy, affordable, and on-the-spot HPV diagnosis, the technology offers an important alternative to the HPV vaccine.

ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA)
today announced the start of patient dosing in an international Phase 1/2 clinical trial of AP26113, an investigational dual inhibitor of anaplastic lymphoma kinase (ALK) and epidermal growth factor receptor (EGFR) -- two clinically validated targets in non-small cell lung cancer (NSCLC).

Aradigm Corporation (OTCBB:ARDM) ("Aradigm") today announced it is presenting data on September 26, 2011, from its Phase 2b studies at the ERS Annual Congress in Amsterdam, Netherlands.

Cellceutix Corporation (OTCQB: CTIX) (PINKSHEETS: CTIX), a biopharmaceutical company focused on discovering and developing small molecule drugs to treat unmet medical conditions, reported today that it has signed a Laboratory Services Research Support Agreement with Dana Farber/Partners CancerCare, Inc.

Constellation Energy (NYSE: CEG), through two of its subsidiaries, and Chromatin Inc., a supplier of biomass feedstock for energy producers, today announced that they had signed a memorandum of understanding that could supplement current fuels at two California power plants with a sustainable supply of renewable biomass grown specifically for use as fuel in the plants.

Generex Biotechnology Corporation's (OTCBB: GNBT) (www.generex.com) wholly-owned subsidiary, Antigen Express, Inc. (www.antigenexpress.com), today announced that its lead drug candidate AE37, a novel HER-2/neu-targeted vaccine currently in Phase II development for the treatment of breast cancer, is featured in the October 2011 issue of Scientific American, in a story titled "A New Ally Against Cancer" by Eric von Hofe, Ph.D., President of Antigen Express (http://www.scientificamerican.com/article.cfm?id=a-new-ally-against-cancer).

Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD) will present at the Jefferies 2011 Global Healthcare Conference in London on Wednesday, September 28, 2011, at 9:20 a.m. British Summer Time / 4:20 a.m. Eastern Daylight Time.

InVivo Therapeutics Holdings Corp. (OTC/BB: NVIV), a company focused on the development of groundbreaking technologies for the treatment of spinal cord injuries (SCI), today announced that in a rodent contusion model of SCI the Company’s proprietary biopolymer scaffold showed positive preliminary data that indicate a therapeutic effect.

InSite Vision Incorporated (OTCBB: INSV) today announced that Tim Ruane, Chief Executive Officer of InSite Vision, will present a company update at the Sixth Annual JMP Securities Healthcare Conference being held at the St. Regis New York in New York City on Tuesday, September 27, 2011 at 1:30 pm ET.

MiMedx Group, Inc.  (OTCBB: MDXG), an integrated developer, manufacturer and marketer of patent protected regenerative biomaterials and bioimplants processed from human amniotic membrane, announced today that it has partnered with Affirmative Solutions, a national, leading distributor of spine, biologic and other medical products and devices to the U.S. Veteran's Administration ("VA") and Department of Defense ("DOD") facilities.

NanoViricides, Inc. (OTC BB: NNVC) (the "Company") announced that its President, Dr. Anil R. Diwan, will present at the French Biotech Tour Infectious Diseases Meeting being held at the MIT Faculty Club in Boston, MA, today.

Protalix BioTherapeutics, Inc. (NYSE-AMEX: PLX, TASE:PLX), announced today that Yossi Maimon, the Company's Chief Financial Officer, will present at the Jefferies 2011 Global Healthcare Conference on Tuesday, September 27, 2011 at 11:20 AM BST at the Waldorf Hilton in London.

Sangamo BioSciences, Inc. (Nasdaq: SGMO)
announced today that Edward Lanphier, Sangamo's president and CEO, will provide an update on the progress of Sangamo's ZFP Therapeutic® development programs and an overview of the company's business strategy at 3:30 pm ET on Tuesday, September 27, 2011 at the Sixth Annual JMP Securities Healthcare Conference which will be held in New York City.

SANUWAVE Health, Inc. (OTCBB: SNWV), an emerging medical technology company focused on the development and commercialization of noninvasive, biological response activating devices in regenerative medicine, today announced that Ron Sparks, age 56, a 34-year veteran of the medical device industry, has joined the Company’s Board of Directors.

Tianyin Pharmaceutical Co., Inc. (NYSE Amex: TPI)
, a pharmaceutical company that specializes in patented biopharmaceutical medicine, modernized traditional Chinese medicine, branded generics and active pharmaceutical ingredients (API), today announced that the earnings conference call for the fiscal year 2011 ending June 30, 2011 will be held at 9:00 a.m. Eastern Time on Tuesday, September 27, 2011.

Unigene Laboratories, Inc. (OTCBB: UGNE) a leader in the design, delivery, manufacture and development of peptide-based therapeutics announced today that the Company divested its non-core asset, Site Directed Bone Growth (SDBG) by assigning seven patent applications to Kieran Murphy, LLC. In addition, Unigene terminated an Exclusive License Agreement and Consulting Agreement with Kieran Murphy, LLC, as well as a License Option Agreement and Research Agreement with Yale University.

Vasomedical, Inc. (“Vasomedical”) (OTC: VASO.PK)
, a leader in the manufacture and sale of devices for the non-invasive treatment and management of cardiovascular diseases and a leader in the sale of diagnostic imaging products, today announced the restructure of the Company to further align its business management structure and long term growth strategy.

Zalicus Inc. (NASDAQ: ZLCS)
a biopharmaceutical company that discovers and develops novel treatments for patients suffering from pain and immuno-inflammatory diseases today announced that Mark H.N. Corrigan, MD, President and CEO is scheduled to present at the Sixth Annual JMP Securities Healthcare Conference at 8:30 a.m. ET on Wednesday, September 28, 2011, at the St. Regis, New York.




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