On Thursday, Following Stocks were among the “Top 100 Gainers” of U.S. Stock Market: Corcept Therapeutics Incorporated (NASDAQ:CORT), AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO), Biocept, Inc. (NASDAQ:BIOC), Lion Biotechnologies, Inc. (NASDAQ:LBIO)
Corcept Therapeutics Incorporated (NASDAQ:CORT), with shares inclined 12.07%, closed at $5.85.
AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO), with shares jumped 11.85%, settled at $1.51.
Biocept, Inc. (NASDAQ:BIOC), with shares climbed 11.74%, and closed at $2.57.
Lion Biotechnologies, Inc. (NASDAQ:LBIO), surged 11.55%, and closed at $14.49.
Latest NEWS regarding these Stocks are depicted underneath:
Corcept Therapeutics Incorporated (NASDAQ:CORT)
Corcept Therapeutics Incorporated (CORT), a global biopharmaceutical corporation focused on orphan endocrine disorders, declared the appointments of John H. Johnson as chairman of the board of directors and Richard Kollender as a director. These appointments, projected by the nomination committee, were approved by shareholders during the Extraordinary General Meeting on March 17.
John H. Johnson has more than 30 years of biopharmaceutical industry experience at leading global organizations, counting Johnson & Johnson, Eli Lilly & Corporation, ImClone and Pfizer, Inc. He presently serves as a member of the board of directors of Cempra Pharmaceuticals, Inc., Histogenics Corporation, Portola Pharmaceuticals, Inc., and Sucampo Pharmaceuticals, Inc. He formerly served as chairman of Dendreon Corporation and Tranzyme Pharma, and also served as a member of the board of directors of Pharmaceutical Research and Manufacturers of America (PhRMA), the Health Section Governing Board of Biotechnology Industry Organizations (BIO), and BioNJ.
Corcept Therapeutics Incorporated, a pharmaceutical corporation, engages in the discovery, development, and commercialization of drugs for the treatment of metabolic, oncologic, and psychiatric disorders in the United States.
AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO)
Earlier on March 6, AVEO Pharmaceuticals, Inc. (AVEO), stated financial results for the full year ended December 31, 2014.
“At the startning of 2015, AVEO implemented several important changes designed to maximize the value of our portfolio of clinical stage products,” said Michael Bailey, president and chief executive officer. “Our approach to realizing this value is to leverage biomarker insights, counting the promising new NRP-1 findings for tivozanib in metastatic colorectal cancer, and our demonstrated ability to advance our assets through partnerships. In support of these efforts, we have streamlined our organization to better align it with our clinically focused planned needs going forward, extending our financial runway into the third quarter of 2016. We look forward to a productive 2015 as we work toward making progress in executing our strategy.”
Full Year 2014 Financial Highlights:
AVEO ended 2014 with $52.3 million in cash and cash equivalents.
- Total partnership proceed for 2014 was about $18.1 million contrast with $1.3 million for 2013. The raise was primarily due to recognition of an additional $13.7 million of formerly deferred proceed as a result of the modification of the Corporation’s arrangement with Biogen Idec. In addition, the Corporation recognized an additional $3.1 million of partnership proceed in connection with the change in the estimated period of performance associated with the Corporation’s partnership with Astellas as a result of the termination of the contract in August 2014.
- Research and development (R&D) expense for 2014 was $38.3 million contrast with $68.5 million for 2013. The decrease in R&D expense was primarily due to a reduction in personnel-related expenses following AVEO’s June 2013 planned restructuring in addition to a decrease in external clinical trial, research, and medical affairs costs associated with reduced tivozanib clinical trial activity, and a decrease of costs regarding the manufacturing of ficlatuzumab, which was accomplished in 2013.
- General and administrative (G&A) expense for 2014 was $18.6 million contrast with $28.7 million for 2013.The decrease in G&A expense was primarily due to a reduction in personnel-related expenses following AVEO’s June 2013 planned restructuring in addition to a decrease in marketing and consulting costs due to termination of work related to tivozanib pre-commercialization activities.
- Restructuring and lease exit expense for 2014 was $11.7 million contrast with $8.0 million for 2013. The expenses incurred during 2014 relate to costs associated with partially vacating and subsequently terminating the contract for the Corporation’s leased space. The expenses incurred during 2013 relate to severance and employee benefits incurred as part of the June 2013 planned restructuring.
- Net loss for 2014 was $52.7 million, or a net loss of $1.01 per basic and diluted share contrast with net loss of $107.0 million or a net loss of $2.10 per basic and diluted share for 2013.
AVEO Oncology (AVEO) is a biopharmaceutical corporation committed to developing targeted therapies through biomarker-driven insights to provide improvements in patient outcomes where noteworthy unmet medical needs exist. AVEO’s proprietary Human Response Platform™ has delivered unique insights into cancer and related disease biology that AVEO is seeking to leverage in the clinical development strategy of its therapeutic candidates.
Biocept, Inc. (NASDAQ:BIOC)
Formerly on March 10, Biocept, Inc. (BIOC), declared the launch of its EGFR mutation detection testing utilizing a patient’s blood-based liquid biopsy. This innovative diagnostic has the potential to assist physicians identify which of their patients may be receptive to certain non-small cell lung cancer treatments.
The identification of these mutations in patients with advanced NSCLC can provide them with the opportunity to receive optimal targeted therapies, known as Tyrosine Kinase Inhibitors (TKIs). In the United States, there are two FDA-approved TKI therapies for patients with specific EGFR mutations: Erlotinib, marketed as Tarceva(R) by Genentech, Inc.; and Afatinib, marketed as Gilotrif(R) by Boehringher Ingelheim GmbH.
“At the time of recurrence or progression of non-small cell lung cancer, many patients may not have the option to have an assessment of EGFR mutation status because all of the original tissue biopsy material was consumed by the diagnostic testing conducted to identify the cancer. In other cases, patients may be too sick to undergo a surgical biopsy. For patient populations who are not candidates for tissue biopsy, there is a clear need for a test that enables physicians to better manage their cancer,” said Raaj Trivedi, VP of Commercial Operations for Biocept. “With the addition of EGFR mutation testing to our NSCLC diagnostic capabilities, we believe we are addressing this unmet medical need by delivering diagnostic results that are comparable to those accessible through tissue biopsy from a simple blood test.”
“With existing FDA-approved drugs on the market, every lung cancer patient should have the opportunity to have their sample tested to potentially qualify and benefit from one of these targeted therapies,” said Veena Singh, M.D., Senior Medical Director of Biocept. “Our blood test, with its high level of both sensitivity and specificity, may assist patients qualify for important therapeutic options when a tissue biopsy is not safe or practical. Testing for these mutations in blood is a safe and effective alternative to tissue biopsy for monitoring patients for both response and possible resistance to therapies.”
Biocept, Inc., a cancer diagnostics corporation, develops and commercializes proprietary circulating tumor cell (CTC) and circulating tumor DNA tests utilizing a standard blood sample.
Lion Biotechnologies, Inc. (NASDAQ:LBIO)
Formerly on March 3, Lion Biotechnologies, Inc. (LBIO), a biotechnology corporation that is developing novel cancer immunotherapies based on tumor infiltrating lymphocytes (TIL), declared the closing of its underwritten public offering of 9,200,000 shares of its ordinary stock at $8.00 per share, counting 1,200,000 shares sold following the exercise in full of the underwriters’ option to purchase additional shares, resulting in gross proceeds from the offering of $73.6 million, before deducting underwriting discounts and commissions and offering expenses payable by Lion.
Lion intends to use the net proceeds of the offering for the development of its product candidates, counting its planned Phase 2 clinical trial for metastatic melanoma, and for other general corporate and working capital purposes.
Jefferies LLC, Cowen and Corporation, LLC and Piper Jaffray & Co. acted as the joint book-running managers of the offering, and Roth Capital Partners, LLC acted as co-manager.
Lion Biotechnologies, Inc. is engaged in the development of T-cells and engineered T-cells for the treatment of various cancers. The corporation’s lead product candidate is a ready-to-infuse autologous T-cell therapy utilizing tumor-infiltrating lymphocytes (TIL) for the treatment of patients with Stage 4 metastatic melanoma, and is based on a clinical Cooperative Research and Development Contract with the National Cancer Institute.
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