On Friday, Shares of Transgenomic Inc. (NASDAQ:TBIO), skyrocketed 39.15% to $2.63.
Transgenomic, declared the launch of its new Multiplexed ICE COLD-PCR™ (MX-ICP) CLIA service for mutation detection in cancer patients to enable more informed diagnoses, better treatment decisions and ongoing patient monitoring. The service leverages the ultra-high sensitivity of Transgenomic’s proprietary MX-ICP technology to deliver highly accurate results from almost any type of patient sample. The first tests are for the detection of EGFR exon 20 T790M mutations that affect the utility of tyrosine kinase inhibitor (TKI) drugs used for non-small cell lung cancer and EGFR exon 12 S492R mutations that render colorectal cancer patients resistant to the widely-used drug cetuximab. Transgenomic intends to add additional single mutation and mutation panel detection tests to its suite of testing services in the coming months.
Multiplexed ICE COLD-PCR achieves its ultra-high sensitivity by preferentially enriching the scarce mutant DNA sequences present in an ocean of wild-type (normal) DNA through selective amplification of the mutant DNA. The result is up to a 500-fold enhance in sensitivity in identifying mutations with the most precise sequence alteration detection rates accessible-down to 0.01% from as little as 4-5 ml of plasma sample, making it possible to obtain accurate and sensitive biopsies using either liquid or solid tissue specimens. ICE COLD-PCR was originally developed by the laboratory of Dr. Mike Makrigiorgos at the Dana-Farber Cancer Institute, which has exclusively licensed rights to the technology to Transgenomic.
The new service will accept a wide range of patient samples, counting tissue, plasma, fine needle aspiration, bronchoscopy, cytology and other body fluid samples. Actionable results will be accessible in 7-10 working days. Additional tests and panels for mutations in EGFR, KRAS, NRAS, PIK3CA, BRAF and other genes are presently in development.
Transgenomic, Inc., a biotechnology company, engages in advancing personalized medicine in the detection and treatment of cancer and inherited diseases through its proprietary molecular technologies and clinical and research services in the United States and internationally.
Shares of Merck & Co. Inc. (NYSE:MRK), inclined 1.99% to $60.89, during its last trading session.
TESARO, Inc. (TSRO), an oncology-focused biopharmaceutical company, and Merck & Co., known as MSD outside the United States and Canada, recently declared a partnership to evaluate the combination of TESARO’s niraparib plus Merck’s anti-PD1 therapy, KEYTRUDA(R) (pembrolizumab), in a Phase 1/2 clinical trial.
This trial is planned to evaluate the preliminary safety and efficacy of niraparib plus KEYTRUDA in patients with triple negative breast cancer or ovarian cancer. This trial will be conducted by TESARO and Merck, through a partner, and is predictable to start by the end of 2015.
Merck & Co., Inc. provides health care solutions worldwide. The company offer therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, asthma, nasal allergy symptoms, allergic rhinitis, chronic hepatitis C virus, HIV-1 infection, fungal infections, intra-abdominal infections, hypertension, arthritis and pain, inflammatory, osteoporosis, male pattern hair loss, and fertility diseases.
At the end of Friday’s trade, Shares of Schlumberger Limited (NYSE:SLB), gained 0.13% to $90.27.
On May 5, Cameron (CAM) and OneSubsea®, a Cameron and Schlumberger company, have won Spotlight on New Technology Awards at the Offshore Technology Conference (OTC) by meeting the criteria for new, innovative, proven products of broad interest that have noteworthy impact.
Cameron won an award for its Mark IV High Availability (HA) Control System for Blowout Preventers (BPs). Cameron’s Mark IV HA control system is the industry’s first three-POD control system. The new system allows drillers to continue operating when one POD becomes unavailable. Because of this configuration, the Mark IV HA BOP control system improves operational availability to as much as 98% and reduces the likelihood of a POD-related stack pull by up to 73%. This system builds on the success of the Mark III control system by streamlining the POD design, making it smaller and lighter in addition to increasing functionality.
OneSubsea is an award recipient of the 2015 OTC Spotlight on New Technology Award for the industry’s first true subsea multiphase compressor. The OneSubsea Multiphase Compressor, delivered to Statoil in March, is capable of handling compression of the unprocessed wellstream without any need for pre-processing and no requirements for an upstream separation facility or an anti-surge system, which greatly simplifies the subsea system requirements.
Schlumberger Limited supplies technology, integrated project administration, and information solutions to the oil and gas exploration and production industries worldwide. The company operates through Reservoir Characterization Group, Drilling Group, and Production Group segments.
Crude oil prices jumped almost 5 percent on Friday, their biggest rally in 1-1/2 months, as a steady U.S. dollar and a bigger than predictable drop in U.S. oil rigs in operation set off a renewed rush of bullish bets.
U.S. crude has risen by as much as $4 a barrel after hitting a one-month low just a day ago, locking in a record 11th weekly gain that was propelled both by declining domestic oil inventories and rapidly shifting sentiment ahead of next week’s OPEC meeting, at which the group is predictable to keep production at high levels, Reuters Reports.
From Basic Material sector, Occidental Petroleum Corporation (NYSE:OXY), ended its last trade with 0.59% gain, and closed at $78.19. The company exchanged hands with 6,049,301 shares as compared to its average daily volume of 4,497,300 shares. The company has the market capitalization of 60.06B.
Occidental Petroleum Corporation engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates in three segments: Oil and Gas; Chemical; and Midstream, Marketing and Other.
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