On Wednesday, Peregrine Pharmaceuticals (NASDAQ:PPHM)’s shares declined -1.53% to $1.29.
Peregrine Pharmaceuticals (PPHM) a biopharmaceutical company focused on developing novel investigational products that assist harness the body’s own immune system to fight cancer, declared that the European Patent Office (EPO) has granted Patent Number 2,269,656, titled “Selected Antibodies Binding to Aminophospholipids and their Use in Treatment, Such as Cancer”. This important patent covers bavituximab as a composition of matter and for use in treating cancer counting in combination with radiotherapy or chemotherapy, such as with docetaxel.
The new patent covers bavituximab as a composition of matter, a range of related antibodies, counting humanized and chain-shuffled antibodies and other sequence variations and their broad use in any diagnosis or therapy. The new patent also covers antibody drug conjugates, diagnostic and imaging constructs, liposomal and pharmaceutical combinations of bavituximab and related antibodies.
Peregrine Pharmaceuticals, Inc., a biopharmaceutical company, is engaged in the research and development of novel monoclonal antibodies for the treatment and diagnosis of cancer in the United States. Its lead immunotherapy candidate, bavituximab, is in Phase III development for the treatment of second-line non-small cell lung cancer together with various investigator-sponsored trials evaluating other treatment combinations and additional oncology indications.
Arca Biopharma Inc (NASDAQ:ABIO)’s shares dropped -4.35% to $1.10.
ARCA biopharma, Inc. ( ABIO) declared the closing of the formerly declared private placement financing with a select group of institutional investors, counting lead investor Venrock, New Enterprise Associates (NEA), funds managed by Franklin Advisers, Inc., RA Capital Administration, Tekla Life Sciences Investors and other institutional investors. ARCA received net proceeds of about $34 million from the sale of about 42 million units at a price of $0.8805 per unit. Each unit comprises of one share of ARCA’s common stock and a warrant to purchase 0.40 shares of common stock with an exercise price of $0.8716. The warrants have a term of seven years and become exercisable 180-days after the closing date.
ARCA plans to use the anticipated proceeds from the private placement for working capital and clinical development of bucindolol, counting GENETIC-AF, the ongoing Phase 2B/3 trial for the prevention of atrial fibrillation. The Company anticipates that its current cash and cash equivalents and the net proceeds of this private placement will be sufficient to fund its operations, at the projected cost structure, through the end of 2017. However, changing circumstances may cause the Company to consume capital significantly faster or slower than presently anticipated.
ARCA biopharma, Inc., a biopharmaceutical company, focuses on developing genetically-targeted therapies for cardiovascular diseases. Its lead product candidate is Gencaro, a pharmacologically unique beta-blocker and mild vasodilator for the treatment of atrial fibrillation in patients with heart failure and left ventricular dysfunction. The company has a collaboration agreement with Medtronic, Inc. for the support of Gencaro’s Phase IIB/III clinical trial. ARCA biopharma, Inc. is headquartered in Westminster, Colorado.
At the end of Wednesday’s trade, Net 1 UEPS Technologies Inc (NASDAQ:UEPS)‘s shares surged 2.19% to $18.68.
Net 1 UEPS Technologies, Inc. (UEPS) (NT1) declared that its subsidiary, The Smart Life Insurance Company Limited (“Smart Life”), has received a notice from the South African Financial Services Board (“FSB”), informing Smart Life that, with immediate effect, the FSB has withdrawn the prohibition to conduct new business it issued on February 23, 2013.
Net 1 UEPS Technologies, Inc. provides payment solutions and transaction processing services for various industries in South Africa, Korea, Europe, and internationally. It offers universal electronic payment system (UEPS), a smart-card based alternative payment system for the unbanked and underbanked populations of developing economies and for mobile transaction channels.
Celldex Therapeutics, Inc. (NASDAQ:CLDX), ended its Wednesday’s trading session with -0.67% loss, and closed at $25.05.
Celldex Therapeutics, Inc. (CLDX) declared the promotion of Richard Wright, Ph.D. to Senior Vice President and the newly created position of Chief Commercial Officer. Dr. Wright was formerly Vice President of Commercial Operations at Celldex and brings nearly 25 years of industry experience, counting the commercialization of six successful drug therapies. As Chief Commercial Officer, Dr. Wright is responsible for developing global business strategy and building the infrastructure required to support commercialization of Celldex’s cancer immunotherapy pipeline.
Celldex Therapeutics, Inc., a biopharmaceutical company, develops, manufactures, and commercializes novel therapeutics for human health care in the United States. The company’s lead drug candidates comprise rindopepimut (CDX-110), a targeted immunotherapeutic in a pivotal Phase III study for the treatment of front-line glioblastoma, in addition to in Phase II study for the treatment of recurrent glioblastoma; and Glembatumumab vedotin (CDX-011), a targeted antibody-drug conjugate in a randomized Phase IIb study for the treatment of triple negative breast cancer, in addition to in Phase II study for the treatment of metastatic melanoma.
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