On Monday, Shares of Pfizer Inc. (NYSE:PFE), gained 0.48% to $35.36.
Gliknik Inc., declared that its licensee Pfizer Inc. (PFE) has received notification from the U.S. Food and Drug Administration (FDA) that its autoimmune candidate drug GL-2045, a recombinant Intravenous Immune Globulin (IVIG)-mimetic, has been granted orphan drug designation for Chronic Inflammatory Demyelinating Polyneuropathy (CIDP). CIDP is a rare neurological disorder characterized by progressive weakness and impaired sensory function in the legs and arms.
GL-2045 received the Orphan Drug designation for CIDP under the U.S. Orphan Drug Act following a review by the FDA of a package of data presented by Pfizer. The FDA Office of Orphan Products Development grants orphan drug designation to novel drugs or biologics that treat a disease or condition affecting fewer than 200,000 patients in the U.S.
Gliknik reached an exclusive licensing agreement with Pfizer for GL-2045 in September 2013. David Block, CEO of Gliknik, said, “This orphan drug designation is important in that it provides numerous incentives to develop GL-2045 to address an unmet need in CIDP, a rare neurological disorder.”
Pfizer Inc., a biopharmaceutical company, discovers, develops, manufactures, and sells healthcare products worldwide. The company operates through Global Innovative Pharmaceutical (GIP); Global Vaccines, Oncology and Consumer Healthcare (VOC); and Global Established Pharmaceutical (GEP) segments.
Shares of Himax Technologies, Inc. (NASDAQ:HIMX), declined -7.34% to $6.56, during its last trading session.
Himax Technologies declared financial results for the second quarter ended June 30, 2015.
Himax’s second quarter revenue of $169.2 million represented a 13.9% decrease from the second quarter of 2014 and a 5.5% sequential decrease from the first quarter of 2015. Revenue from large panel display drivers was $54.3 million, an enhance of 6.9% from the second quarter of 2014, and down 5.7% sequentially. Large panel driver IC accounted for 32.1% of total revenues for the second quarter, contrast to 25.9% a year ago and 32.2% in the last quarter. The year-over-year enhance in total revenue was a result of market share gain from its Chinese panel customers and accelerated 4K TV shipments during the quarter, yet the sequential decrease was caused by continued weakness in the monitor market.
Revenue for small and medium-sized drivers was $82.8 million, down 22.6% from the same period last year and down 4.9% sequentially. Driver ICs for small and medium-sized applications accounted for 48.9% of total sales for the second quarter, as contrast to 54.5% a year ago, and 48.6% in the previous quarter. While the overall demands in mobile devices are still trending down, the decline of Himax’s small and medium driver IC business was much smaller during the quarter contrast to the last quarter. This was mainly because sales from its Chinese branded smartphone end customers, who were trailing behind the competition in the first quarter, rebounded strongly in the second quarter. The growth from Chinese branded smartphone customers was however largely offset by business from key Korean end customer who was going through product transition during the quarter. The Company’s Chinese end customers are using a multi-branding strategy in new sales channels such as e-commerce and direct sales points to gain market share back in China and exploring the long-awaited export opportunities. Meanwhile, Himax’s key Korean customer has decided to plannedally enhance the weight of AMOLED panels in their smartphone product portfolio. The transition in product development left a gap in Himax’s second quarter smartphone driver IC business as Himax has been its major TFT LCD driver IC outsourcing partner since 2012. The Company has foreseen this issue and worked on the development of AMOLED driver products. Himax believes that shipments of AMOLED panel drivers to both Korean and Chinese customers starting the second half of 2015 will assist lift its smartphone driver sales going forward. For driver ICs used in tablets, sales stabilized after 3 successive quarters of decline. As for driver ICs used in automotives, revenues remained robust during the quarter.
Himax Technologies, Inc., a fabless semiconductor company, provides display imaging processing technologies to consumer electronics worldwide. The company operates through Driver IC and Non-Driver Products segments.
Finally, Response Genetics, Inc (NASDAQ:RGDX), ended its last trade with -78.63% decline, and closed at $0.03, hitting its lowest level.
Cancer Genetics, declared that it has reached a contract in principle (the “Agreement”) to act as a “stalking horse” and acquire substantially all the assets and operations of Los Angeles based Response Genetics, Inc. (RGDX). As part of the transaction, Response Genetics has filed a voluntary petition under chapter 11 of the Bankruptcy Code in the Delaware Bankruptcy Court (“Court).
Response Genetics has an established core business in solid tumor molecular diagnostics, particularly in lung cancer, colorectal cancer and melanoma, that assists determine a patient’s response to cancer therapy. The combined entity will have noteworthy expertise in both solid and hematological cancers, have a national geographic and sales footprint, and be able to serve larger customers, healthcare groups and biopharma companies. The combined company will have an industry leading biomarker and genomic portfolio in over 8 of the top 10 cancers, counting an FDA-approved test for tumors of unknown origin, TOO(TM), which Response Genetics attained from Pathwork Diagnostics.
The acquisition will allow Cancer Genetics to serve Response Genetics clients and fulfill contracts with both biopharma customers and clinical ordering sites, primarily throughout the Western, and Southeastern United States. These biopharma clients, which comprise the NCI ALCHEMIST trial, add to Cancer Genetics’ existing client base. Response Genetics provides CGI with an immediate opportunity to offer existing clients an expanded test menu in solid tumors in addition to an FDA approved, and Medicare reimbursed, test for tumors of unknown origin. Upon closure of the transaction, the Company anticipates that the joint clinical sales force will have national reach and be among one of the largest oncology-focused clinical sales groups in molecular diagnostics.
Response Genetics, Inc., a life sciences company, researches, develops, markets, and sells pharmacogenomic tests for use in the treatment of cancer in the United States, Europe, and internationally. The company offers tests for measuring predictive factors for therapy response in tumor tissue samples.
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