During Friday’s Morning trade, Shares of ZS Pharma, Inc. (NASDAQ:ZSPH), skyrocketed 40.91% to $89.22.
Anglo-Swedish drug firm AstraZeneca has attained U.S.-based biopharmaceutical company ZS Pharma in a deal worth $2.7 billion, according to AP.
The deal will give AstraZeneca access to ZS Pharma’s treatment for hyperkalemia, a condition of elevated potassium in the bloodstream that is associated with chronic kidney disease and chronic heart failure. The treatment, potassium-binding compound ZS-9, is under regulatory review by the U.S. Food and Drug Administration.
The deal values the San Mateo, California-based company at $90 a share.
ZS Pharma’s CEO Robert Alexander says the agreement will maximize the potential of ZS-9 and draw on AstraZeneca’s expertise in developing medicines for cardiovascular and metabolic diseases. AP Reports
ZS Pharma, Inc., a development stage biopharmaceutical company, focuses on the development and commercialization of non-absorbed drugs to treat renal, cardiovascular, liver, and metabolic diseases. The company’s proprietary zirconium silicate technology creates ion traps that could reduce toxic levels of specific electrolytes without disturbing the balance of other electrolytes.
Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX), inclined 24.62% to $13.14, during its current trading session.
Lexicon Pharmaceuticals stated financial results for the third quarter ended September 30, 2015 and offered an overview of key milestones for the company’s lead drug candidates.
Earlier today, Lexicon declared that it reached a partnership and license agreement with Sanofi for the worldwide development and commercialization of sotagliflozin. Under the terms of the agreement, Lexicon will receive an upfront payment of $300 million and is eligible to receive development, regulatory and sales milestone payments of up to $1.4 billion. Lexicon is also entitled to tiered, escalating royalties on net sales of sotagliflozin. The financial results stated in this press release are as of September 30, 2015 and do not reflect any impact of this collaboration.
Pipeline Progress
Telotristat etiprate is the first investigational drug in clinical studies to target tryptophan hydroxylase (TPH), an enzyme that triggers the excess serotonin production within metastatic neuroendocrine tumor cells that leads to carcinoid syndrome, a condition characterized by serious consequences counting frequent and debilitating diarrhea, facial flushing, abdominal pain, and heart valve damage.
Top-line results from Lexicon’s Phase 3 TELESTAR study showed that patients who added telotristat etiprate to the standard of care at both the 250 mg and 500 mg doses practiced a statistically noteworthy reduction from baseline contrast to placebo in the average number of daily bowel movements over the 12-week study period (p
Patients who received 250 mg of telotristat etiprate practiced a reduction of 1.71 bowel movements (29%) in the average number of daily bowel movements during the final week of the study contrast to baseline, and those in the 500 mg arm practiced a reduction of 2.11 bowel movements (35%); the placebo group showed a reduction of 0.87 bowel movements (17%).
Lexicon Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of human diseases. Its drug development programs comprise telotristat etiprate, an orally-delivered small molecule drug candidate, which is in Phase III clinical trials for the treatment of carcinoid syndrome.
Finally, Neuberger Berman High Yield Strategies Fund Inc. (NYSEMKT:NHS), gained 0.37%, and is now trading at $10.85.
Neuberger Berman High Yield Strategies Fund Inc. (NYSE MKT: NHS) has declared a distribution declaration of $0.08 per share of common stock. The distribution declared recently is payable on November 30, 2015, has a record date of November 16, 2015 and has an ex-date of November 12, 2015.
Under its level distribution policy, the Fund anticipates that it will make regular monthly distributions, subject to market conditions, of $0.08 per share, unless the Board believes that further action is warranted to determine another amount. The Fund’s ability to maintain a stable distribution will depend on several factors, counting the stability of income received from its investments, the cost of leverage and the level of other Fund expenses. There is no assurance that the Fund will always be able to pay a distribution of any particular rate or that a distribution will comprise only of net investment income.