|NPS Pharmaceuticals Reports 2011 Year-End Financial Results; Apricus' NexMed (USA) Signs Exclusive German Collaboration|
|By Staff and Wire Reports|
|Wednesday, 15 February 2012 19:18|
NPS Pharmaceuticals, Inc. (NASDAQ: NPSP), a specialty pharmaceutical company developing orphan therapeutics for rare gastrointestinal and endocrine disorders, reported its 2011 year-end financial results and provided cash burn guidance for 2012.
NPS reported a net loss of $8.6 million or $0.10 per diluted share for the fourth quarter of 2011, compared to a net loss of $6.4 million or $0.09 per diluted share for the fourth quarter of 2010. For the full year, NPS reported a net loss of $36.3 million or $0.45 per diluted share for 2011 versus a net loss of $31.4 million or $0.54 per diluted share for 2010. Cash and investments totaled $162.2 million at December 31, 2011, compared with $133.8 million at December 31, 2010.
“In 2011 we met all of our stated objectives -- we completed two positive Phase 3 registration studies, filed a New Drug Application for Gattex in adult short bowel syndrome, and added two clinical-stage calcilytic compounds to our product pipeline.” said Francois Nader, MD, president and chief executive officer of NPS Pharmaceuticals. “In 2012, as we continue our transformation into a premier orphan drug business, we expect to deliver several significant value-drivers including securing approval of Gattex in the U.S. and Europe and submitting a U.S. Biologics License Application for Natpara in hypoparathyroidism.”
Dr. Nader added, “Our royalty-based pipeline continues to deliver significant value. We are encouraged by the recent performance of Sensipar, which has been and continues to be a key asset that we expect to greatly enhance our cash flows beginning in 2013.”
Apricus Biosciences, Inc. (NASDAQ:APRI) announced its wholly-owned subsidiary NexMed(USA), Inc. has signed with Sandoz, a division of Novartis, an exclusive collaboration for Germany to market Apricus Bio's Vitaros(R) drug for the treatment of erectile dysfunction.
Pursuant to the collaboration, Sandoz will pay Apricus Bio up to EURO21 million -- divided into a fixed upfront payment and specific regulatory and commercial milestones -- as well as, double digit royalties on net sales. Total upfront and milestone payments represent approximately $28 million based on today's exchange rate.
Bassam Damaj, Chairman, President and Chief Executive Officer of Apricus Bio commented, "We are very excited about this major European collaboration with such an important international pharmaceutical company as Sandoz. We are happy to work again with Novartis through their division Sandoz and we look forward to expanding the reach of our Vitaros(R) product for erectile dysfunction in Germany. This is yet another important milestone in our strategy to make Vitaros(R) available worldwide and the successful continuation of the execution of our commercialization strategy of Vitaros(R)."
Advanced Cell Technology, Inc. (“ACT”; OTCBB: ACTC), a leader in the field of regenerative medicine, announced today that the Wills Eye Institute in Philadelphia has received institutional review board (IRB) approval as a site for the company’s Phase I/II clinical trial for Stargardt’s Macular Dystrophy (SMD), a form of juvenile macular degeneration, using human embryonic stem cell (hESC)-derived retinal pigment epithelial (RPE) cells.
AeroGrow International, Inc. (PINKSHEETS: AERO) ("AeroGrow" or the "Company"), makers of the AeroGarden® line of indoor gardening products, is celebrating the joys of gardening in winter with National Indoor Gardening Month this February.
Affymetrix, Inc. (NASDAQ:AFFX) today announced that its GeneChip® System 3000Dx v.2 (GCS 3000Dx v.2) has been approved by China's State Food and Drug Administration (SFDA) for in vitro diagnostic use.
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), a leading RNAi therapeutics company, today announced that the underwriters of its previously announced public offering of common stock have exercised their option to purchase an additional 1,125,000 shares at a public offering price of $10.75 per share.
ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced that the United States Patent and Trademark Office has granted U.S. Patent No. 8,114,874 entitled, “Substituted Acetylenic Imidazo[1,2-B] Pyridazine Compounds as Kinase Inhibitors,” which provides composition-of-matter patent protection through at least December 22, 2026 for ARIAD’s investigational pan-BCR-ABL inhibitor, ponatinib.
Arrayit Corporation (OTCQB: ARYC) announces today that the shareholder stock dividend in the new spin-off Arrayit Diagnostics, Inc. (AD) will be determined by the number of ARYC shares owned as of the record date, which is expected to occur by the end of the first quarter, March 30th, 2012.
Baxter International Inc. (NYSE: BAX) announced today that it will present at the Citi 2012 Global Healthcare Conference on Wednesday, February 29, 2012, at 10:00 a.m. (ET).
BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) today announced favorable preclinical results for BCX5191, a novel adenine nucleoside analog targeting viral RNA polymerase for the potential treatment of hepatitis C.
BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) today announced that the U.S. Food and Drug Administration (FDA) has approved Bio-T-Gel, which is licensed by BioSante to Teva Pharmaceuticals USA, Inc. Bio-T-Gel is a testosterone gel for the treatment of male hypogonadism or low testosterone levels.
Corgenix Medical Corporation (OTC BB: CONX.OB), a worldwide developer and marketer of diagnostic test kits, announced today its second generation Hyaluronic Acid (HA) Immmunoturbidimetric Test Kit for use on automated chemistry analyzers has received CE marking for commercialization in Europe.
Derma Sciences, Inc. (Nasdaq: DSCI), a medical device and pharmaceutical company focused on advanced wound care, today announced that Edward J. Quilty, president and chief executive officer, will present to investors as part of the LHA Life Sciences & Medical Technologies Virtual Conference on Thursday, February 16, 2012 at 9:30 a.m. Eastern.
Dyax Corp. (NASDAQ:DYAX) will host a webcast and conference call, including an open question and answer session, Wednesday, February 22, 2012.
Illumina, Inc. (NASDAQ:ILMN) today announced that the Broad Institute has joined the Illumina Genome Network (IGN) to offer its proprietary sample preparation processes for whole human genome sequencing.
Incyte Corporation (Nasdaq: INCY) today reported fourth-quarter and full-year 2011 financial results, including revenue from its first commercial product, JakafiTM, which was approved by the US Food & Drug Administration (FDA) for intermediate or high-risk myelofibrosis (MF) on November 16, 2011.
Medgenics, Inc. (NYSE Amex: MDGN and AIM: MEDU, MEDG), the developer of a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, today announced that Andrew L. Pearlman, Ph.D., President and Chief Executive Officer of Medgenics, will present to investors as part of the LHA Life Sciences & Medical Technologies Virtual Conference on Thursday, February 16, 2012, at 11:00 a.m. Eastern time.
Merck (NYSE:MRK), known as MSD outside the United States and Canada, today announced the formation of a new joint venture (JV) with Supera Farma Laboratorios S.A., a Brazilian pharmaceutical company co-owned by Cristália and Eurofarma.
Pfizer Inc. (NYSE: PFE) today announced that the U.S. Food and Drug Administration (FDA) has accepted for review the New Drug Application (NDA) for tafamidis meglumine, the company’s investigational, novel, oral therapy for the treatment of Transthyretin Familial Amyloid Polyneuropathy (TTR-FAP). TTR-FAP is a rare, progressive and fatal neurodegenerative disease that affects approximately 8,000 patients worldwide.
Senesco Technologies, Inc. (NYSE Amex: SNT) today reported financial results for the second quarter of fiscal year 2012 which ended on December 31, 2011.
Syneron Medical Ltd. (NASDAQ: ELOS), the leading global aesthetic device company, announced today the publication of results from a clinical study evaluating the skin lightening efficacy and safety of its elure™ Advanced Skin Lightening product (lignin peroxidase cream) compared with 2% hydroquinone cream.
TGI SOLAR POWER GROUP INC. (PINKSHEETS: TSPG) (www.tgisolar.com) a diversified energy company, is pleased to announce that after close to twelve months of negotiations, it has finalized an Agreement with Olagenesis Corp (http://www.olagenesis.com).
VentriPoint Diagnostics Ltd. (TSX VENTURE:VPT) (PINKSHEETS:VPTDF) has installed its latest version of the VMS™ heart analysis system at ERASMUS MC SOPHIA (Sophia) Children's Hospital in Rotterdam, Netherlands. Sophia will introduce the VMS™ system into routine clinical use for Tetrology of Fallot (Blue Baby Syndrome) or Systemic Right Ventricle patients, under the supervision of Dr. Willem Helbing and Dr. Laurens Koopman.
Verisante Technology, Inc. (TSX VENTURE:VRS) (OTCQX:VRSEF) (PINKSHEETS:VRSEF) (FRANKFURT:V3T) (the "Company" or "Verisante"), a leader in cancer detection technology, announced today that the Company has been named this year's top ranking Technology and Life Sciences Company on the TSX Venture 50.
Versus Technology, Inc. (PINKSHEETS: VSTI) is pleased to announce another expansion of Real-time Locating System (RTLS) services to PeaceHealth's Sacred Heart Medical Center at RiverBend.