|Active Stocks: Advaxis, DexCom, Cytokinetics, Valeant Pharmaceuticals, New Link Genetics|
|By Josh Gee|
|Monday, 20 October 2014 14:38|
U.S. stocks moved mostly higher Monday following a turbulent week. IBM fell sharply after reporting results that missed investors' expectations, pulling the Dow Jones industrial average lower.The Dow lost six points, or 0.03 percent, to 16,376 as of 2:40 p.m. Eastern. The Standard & Poor's 500 index rose 12 points, or 0.7 percent, to 1,899 and the Nasdaq composite was up 44 points, or 1 percent, to 4,302.
Advaxis, Inc. (NASDAQ:ADXS) appoints David J. Mauro, M.D., Ph.D, as EVP, Chief Medical Officer. He will oversee the firm's clinical immuno-oncology programs that utilize Listeria monocytogenes to inhibit tumor growth.Dr. Mauro joins the company from Merck where he was Executive Director, Section Head Oncology Clinical Development.
The FDA approves DexCom, Inc. (NASDAQ:DXCM) remote mobile communications device, Dexcom Share, for use with its G4 Platinum Continuous Glucose Monitoring System. Share uses a secure wireless connection to transmit a patient's glucose levels to the smartphones of up to five designated recipients who can monitor the information from almost anywhere via their Apple iPhone or iPOD touch.
Cytokinetics, Inc.(NASDAQ:CYTK) reports that its lead drug candidate, tirasemtiv, demonstrated clinically meaningful improvements in Slow Vital Capacity (SVC) versus placebo in ALS patients in a Phase 2b study. SVC is a measure of skeletal muscle strength for breathing and is an important predictor of ALS disease progression and survival.
Valeant Pharmaceuticals Intl Inc. (NYSE:VRX) CEO Michael Pearson says his firm may raise its offer for Allergan (AGN +1.9%) and it will not walk away from its pursuit of the company prior to the December 18 special meeting of shareholders.He also says that the rumor of a rift between Valeant and Pershing Square Capital Management is false.
New Link Genetics (NASDAQ:NLNK) and Roche's Genentech (OTCQX:RHHBY) enter into an exclusive worldwide license agreement for the development of New Link's IDO pathway inhibitor, NLG919.Under the terms of the agreement, New Link will receive an upfront payment of $150M and will be eligible to receive more than $1B in milestones plus escalating double-digit royalties on commercial sales of multiple products by Genentech. The latter will fund R&D, manufacturing and commercialization costs and will provide research funding to New Link which will continue to pursue development activities associated with NLG919 in combination with its HyperAcute vaccine platform. New Link will retain the option for co-promotion rights for NLG919 and potential next generation IDO/TDO compounds in the U.S.