On Wednesday, Shares of Bristol-Myers Squibb Co (NYSE:BMY), gained 0.23% to $69.52.
Seattle Genetics, Inc. (NASDAQ:SGEN) and Bristol-Myers Squibb (BMY), declared that the companies have initiated a phase 1/2 clinical trial of ADCETRIS (brentuximab vedotin) in combination with Opdivo (nivolumab) for patients with CD30-expressing relapsed or refractory B-cell and T-cell non-Hodgkin lymphomas (NHL), counting diffuse large B-cell lymphoma (DLBCL), peripheral T-cell lymphoma (PTCL) and cutaneous T-cell lymphoma (CTCL). This is the second of two trials being conducted under a formerly declared clinical trial partnership agreement between Bristol-Myers Squibb Company and Seattle Genetics. ADCETRIS is an antibody-drug conjugate (ADC) directed to CD30, a marker expressed on Hodgkin lymphoma (HL) and several types of NHL, which combines the targeting ability of a monoclonal antibody with a highly potent cell-killing agent. Recent preclinical data suggest that ADCETRIS causes immunogenic cell death of tumor cells, providing rationale for combination with Opdivo, a human antibody that targets and inhibits the programmed death receptor-1 (PD-1), resulting in T-cell activation. Opdivo is part of a new class of cancer immunotherapy treatments known as checkpoint inhibitors, which are designed to harness the body’s own immune system in fighting cancer by targeting distinct regulatory components of the immune system.
“This is the second corporate-sponsored clinical trial to evaluate ADCETRIS combined with a checkpoint inhibitor to determine if the combination can improve patient outcomes,” said Jonathan Drachman, M.D., Chief Medical Officer and Executive Vice President, Research and Development at Seattle Genetics. “This study is a part of a broad development program that comprises more than 70 ongoing clinical trials evaluating ADCETRIS in multiple lines of therapy for Hodgkin and non-Hodgkin lymphoma and as part of novel combinations that could result in improved clinical benefit with manageable safety profiles. Our aim is to establish ADCETRIS as the foundation of care for CD30-expressing lymphomas.”
The phase 1/2 open-label, multi-center, clinical trial is designed to evaluate the safety, tolerability and antitumor activity of ADCETRIS in combination with Opdivo in patients with relapsed or refractory CD30-expressing NHL. The study will comprise of a phase 1 dose evaluation portion followed by a single-arm phase 2 portion that will expand enrollment to treat disease-specific cohorts with relapsed or refractory DLBCL, PTCL or CTCL at the recommended dose level and treatment plan. The primary endpoints are safety, tolerability and objective response rate of the combination of ADCETRIS with Opdivo. The secondary endpoints comprise duration of response, complete response rate with the combination regimen, duration of complete response, progression-free survival and overall survival. The trial is being conducted at multiple centers in the United States, Canada and Europe and is designed to enroll about 120 patients.
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It provides chemically-synthesized drugs or small molecules, and biologics in various therapeutic areas, counting virology comprising human immunodeficiency virus infection (HIV); oncology; neuroscience; immunoscience; and cardiovascular.
Shares of Rice Energy Inc (NYSE:RICE), declined -2.49% to $10.19, during its last trading session.
Rice Energy Inc. (RICE) stated that on December 21, 2015, the Rice Energy Irrevocable Trust, a private Trust established for the benefit of members of the Rice family, executed a block sale of 5,000,000 shares of Rice common stock to pay down a line of credit extended to the Rice Trust by Morgan Stanley Private Bank, National Association.
Daniel J. Rice IV, Chief Executive Officer, said, “Before this transaction, the Rice family had not sold a single share of Rice Energy since the family formed the company in 2007. In order to pay taxes and expenses incurred as a result of the Rice Energy IPO in 2014, the Rice Trust obtained two loans, the terms of which the Trust has been in compliance with at all times. However, in light of current volatile financial market conditions, the Rice Trust determined that repaying the loans preemptively in an orderly and structured manner was the most prudent path towards preventing a potential margin call event in the future that could possibly detrimentally impact Rice Energy’s share price performance. As Rice Energy’s largest shareholder, in no way does this stock sale reflect the Rice family’s commitment to Rice Energy or its view of Rice Energy’s future performance potential.”
As revealed in a Plan 13D/A filed on December 21, 2015, on December 15, 2014, the Rice Trust reached a line of credit agreement with Morgan Stanley for up to $33,000,000, and a Financial Assets Security Agreement (the “Security Agreement”), following which the Rice Trust pledged 6,750,000 shares of Rice common stock as security for its obligations to Morgan Stanley under the Line of Credit Agreement.
Rice Energy Inc., an independent natural gas and oil company, engages in the acquisition, exploration, and development of natural gas, oil, and natural gas liquid (NGL) properties in the Appalachian Basin. The company operates through two segments, Exploration and Production, and Midstream.
Finally, Discover Financial Services (NYSE:DFS), ended its last trade with -0.97% loss, and closed at $54.25.
Discover Financial Services (DFS) plans to report its fourth quarter 2015 results after the market closes on Wednesday, Jan. 27, 2016.
Discover Financial Services operates as a direct banking and payment services company in the United States. It operates in two segments, Direct Banking and Payment Services. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, counting private student loans, personal loans, home loans, home equity loans, prepaid cards, and other consumer lending, in addition to deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.