Twenty three UK biotechnology tasks will impart £20 million from the Industrial Biotechnology Catalyst rivalry reserve. Acquainted in January 2014 with help of coordinated effort between UK specialists and the developing mechanical biotechnology area, Business Secretary Vince Cable yesterday reported the financing beneficiaries.
Biotech ETFs were among the best entertainers in 2014 and the spotlight has stayed focused on this corner of the medicinal services showcase as speculators keep on seeking out lucrative development opportunities. At the same time in the matter of making presentation, contrasted with some different corners of the business sector, there just hasn’t been the same level of granularity among the ETFs that are intended to give access to this fragment of the health awareness industry.
Insights about some real gainers from healthcare segment, amid Thursday’s exchange are depicted underneath:
Advaxis, Inc. (NASDAQ:ADXS)’s shares gained 14.53% and led the share to close at $8.59, soon after a clinical stage biotechnology company, declared that it has executed definitive securities purchase contracts with several institutional investors for gross proceeds of about $23.0 million in a registered direct offering of about 3.1 million shares at a price of $7.50 per share. The pricing on this transaction reflects the at-the-market closing price on February 17, 2015.
Adage Capital Administration, L.P. (“Adage”), Broadfin Capital LLC, Sectoral Asset Administration, Cormorant Asset Administration and certain funds and accounts managed by T. Rowe Price Associates, Inc. take partd in this financing together with another institutional investor. Following the close of the transaction, Adage will own about 19% of the outstanding shares of Advaxis. Proceeds from this financing will be used primarily to fund the continued clinical development of Advaxis’s cancer immunotherapy pipeline.
Advaxis, Inc. (NASDAQ:ADXS), is a clinical-stage biotechnology company developing multiple cancer immunotherapies based on its proprietary Lm-LLO platform technology. The Lm-LLO technology, using bioengineered live attenuated Listeria monocytogenes bacteria, is the only known cancer immunotherapy agent shown in preclinical studies to both generate cancer fighting T-cells directed against a cancer antigen and neutralize Tregs and myeloid-derived suppressor cells (MDSCs), that protect the tumor microenvironment from immunologic attack and contribute to tumor growth.
Shares of Boston Scientific Corporation (NYSE:BSX), jumped nearly 12.40% and closed at $16.68, hitting new 52-week high of $16.71, soon after a developer, manufacturer and marketer of medical devices, declared the settlement of the breach of merger contract lawsuit brought by Johnson & Johnson against Guidant Corporation, stemming from Boston Scientific’s attainment of Guidant. In the lawsuit filed in 2006, Johnson & Johnson alleged that Guidant breached the merger contract it had with Johnson & Johnson, and sought more than $7 billion in damages. Guidant disputed the allegations. As a result of the settlement contract, Johnson & Johnson has agreed to permanently dismiss its action without acknowledgment of liability by Guidant.
Additionally, Boston Scientific will make aggregate payments totaling $600 million to Johnson & Johnson. Boston Scientific anticipates to record a pre-tax litigation-related charge of about $600 million within its fourth quarter 2014 results as a recognized subsequent event. This charge will be excluded from Boston Scientific’s non-GAAP measures of adjusted revenue that were formerly declared. In connection with the settlement, Boston Scientific has also agreed not to bring patent infringement or other claims related to Johnson & Johnson’s S.M.A.R.T.®, S.M.A.R.T.® Control®, and S.M.A.R.T.® Flex stent products.
Boston Scientific Corporation (NYSE:BSX), transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for more than 35 years, we advance science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare.
Anthera Pharmaceuticals, Inc. (NASDAQ:ANTH), surged 18.30% to close at $4.72, hitting new 52-week high of $4.95, as a biopharmaceutical company, declared that the company has received formal notification from the Nasdaq Stock Market, indicating that the Company has regained compliance with Listing Rule 5450(b)(1)(A), which requires a minimum of $10,000,000 in stockholders’ equity or maintaining a market value of $50,000,000 or greater for ten successive business days. Nasdaq has determined that Anthera has maintained market value of at least $50,000,000 for the last ten successive business days and as such, the Company has met alternative listing requirements for continued listing.
Anthera Pharmaceuticals, Inc. (NASDAQ:ANTH), is a biopharmaceutical company focused on developing and commercializing products to treat serious and life-threatening diseases, counting systemic lupus erythematosus, IgA nephropathy, and exocrine pancreatic insufficiency due to cystic fibrosis.
Shares of the Eagle Pharmaceuticals Inc. (NASDAQ:EGRX), skyrocketed 40.80% & closed at $36.75, hitting new 52-week high of $36.87, soon after a specialty pharmaceutical company, declared its financial results for the transitional three-month period ended December 31, 2014 (the “stub period”). This stub period resulted from the formerly-declared change in Eagle’s year end from September 30 to December 31. The company will report financial results of the first quarter of 2015 in May.
Highlights of and subsequent to the three months ended December 31, 2014 comprise:
- Eagle’s clinical trial demonstrated that our bendamustine hydrochloride product administered in 10 minutes in a 50mL admixture (the “rapid infusion bendamustine product”) is bioequivalent to Treanda® and has a comparable safety profile.
- Reached an exclusive license contract for our rapid infusion bendamustine product with Teva Pharmaceutical Industries Ltd. (TEVA) (the “License Contract”). Under the terms of the License Contract, Eagle will receive an upfront payment of $30 million and will be eligible to receive up to $90 million in additional milestone payments. In addition, Eagle will receive double digit percentage royalties on future net sales of the product.
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX), is a specialty pharmaceutical company focused on developing and commercializing injectable products that address the shortcomings, as identified by physicians, pharmacists and other stakeholders, of existing commercially successful injectable products. Eagle’s strategy is to utilize the FDA’s 505(b)(2) regulatory pathway.
