On Tuesday, Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s shares declined -18.93%, and closed at $31.05, as a biopharmaceutical corporation, declared top-line data from the Corporation’s second of two Phase 3 clinical trials evaluating the safety and efficacy of its lead product candidate, OTX-DP (Sustained Release Dexamethasone, 0.4mg), for the treatment of ocular inflammation and pain following cataract surgery and stated additional details from the first Phase 3 clinical trial. The two primary efficacy endpoints for the OTX-DP Phase 3 clinical trials were statistically noteworthy differences between the treatment group and the placebo group for the absence of pain on day 8 and absence of inflammatory cells on day 14. Both endpoints need to be met for the trials to be considered successful. In the second Phase 3 clinical trial, OTX-DP met one of the study’s two primary efficacy endpoints. In this trial, 77.5% of patients receiving OTX-DP stated an absence of pain in the study eye on day 8 following insertion of the drug product, contrast to 58.8% of those receiving placebo vehicle control punctum plug, a difference which was statistically noteworthy(p=0.0025). 39.4% of OTX-DP-treated patients showed an absence of inflammatory cells in the anterior chamber of the study eye on day 14 following drug product insertion, contrast to 31.3% of those receiving placebo vehicle control punctum plug , a difference which was not statistically noteworthy(p=0.2182). Additionally, there were a total of 240 patients enrolled in the second clinical trial, with a 2:1 randomization of treated and control patients.
Ocular Therapeutix, Inc., a biopharmaceutical corporation, focuses on the development and commercialization of therapies for eye diseases and conditions using its proprietary hydrogel platform technology in the United States. It markets ReSure Sealant, a topical liquid hydrogel that creates a sealant to prevent post-surgical leakage from clear corneal incisions during cataract surgery.
Voltari Corporation (NASDAQ:VLTC)’s shares dropped -14.22%, and settled at $3.80, during the last trading session on Tuesday, as Voltari on March 30, declared that it has closed its formerly confirmed offering of transferable subscription rights to purchase up to an aggregate of 4,300,000 shares of the Corporation’s ordinary stock, $0.001 par value per share. The Rights Offering was launched on February 27, 2015, to stockholders of record on February 3, 2015, and expired at 5:00 p.m., New York City time, on March 20, 2015.
The Rights Offering was fully subscribed and, as such, the Corporation issued 4,300,000 shares of its ordinary stock for total net proceeds of $4.6 million, after fees and expenses.
Voltari empowers its customers (counting brands, marketers and advertising agencies) to maximize the reach and economic potential of the mobile ecosystem through the delivery of relevance-driven merchandising, digital marketing and advertising solutions, primarily over smartphones and other mobile devices.
At the end of Tuesday’s trade, Receptos, Inc. (NASDAQ:RCPT)’s shares dipped -8.28%, and closed at $144.64, as a clinical-stage biopharmaceutical corporation, on April 1, declared that the Corporation has accomplished enrollment in the RADIANCE Phase 3 trial of ozanimod (formerly RPC1063) in patients with Relapsing Multiple Sclerosis (RMS). The trial was over-enrolled by about 10% due to strong interest among investigators and patients. The Corporation is ongoing to enroll the SUNBEAM trial of ozanimod in patients with RMS. Receptos is on track to complete this Phase 3 clinical development program in the first half of 2017.
The declaration follows the disclosure in September 2014 of the detailed Phase 2 results of ozanimod in RMS. In that trial, ozanimod met the primary endpoint of reduction in MRI brain lesion activity in addition to secondary endpoints measuring effects on other MRI parameters. The overall safety profile of ozanimod was consistent with the results of preceding trials and continues to be differentiated from other oral agents for the treatment of RMS.
Receptos, Inc., a clinical-stage biopharmaceutical corporation, focuses on the discovery, development, and commercialization of therapeutics in immune disorders. Its lead product comprises ozanimod, an oral therapy that is in phase III studies for the treatment of relapsing multiple sclerosis; and is in phase II studies to treat ulcerative colitis and crohn’s disease.
Willbros Group Inc. (NYSE:WG), ended its Tuesday’s trading session with -8.04% loss, and closed at $2.86, as an energy infrastructure contractor, on March 31, declared that it has closed the transaction for the sale of all outstanding membership units of its Premier Services partner to USIC Locating Services, LLC, a partner of USIC, LLC. Willbros will apply net proceeds from the sale to debt reduction, predictable to be in the range of $40 to $45 million, after customary closing costs and adjustments.
Houlihan Lokey served as financial advisor and Conner & Winters, LLP acted as legal counsel to Willbros Group, Inc. Jefferies LLC acted as financial advisor and Latham & Watkins LLP acted as legal counsel to USIC in connection with the transaction.
Willbros Group, Inc., together with its auxiliaries, operates as an energy infrastructure contractor serving the oil, gas, refining, petrochemical, and power industries in the United States and internationally. It provides engineering, procurement, and construction (EPC); and turnarounds, maintenance, facilities development, and operations services.
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