Alimera Sciences, Inc. (NASDAQ:ALIM)
ALIM reported that it has obtained commitments from certain non-affiliated institutional investors to purchase approximately $37.5 million of its common stock in a private placement.
According to ALIM, this financing will provide the company with working capital to support its continued commercialization of ILUVIEN(NYSE:R) in Europe and the ongoing pursuit of FDA approval in the United States.
ALIM has entered into a securities purchase agreement with the investors pursuant to which Alimera will sell an aggregate of 6,250,000 shares of its common stock at a purchase price of $6.00 per share. The private placement is subject to customary closing conditions and is expected to close during the week of January 27, 2014.
ALIM is a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals.
Cell Therapeutics, Inc. (NASDAQ:CTIC)
Ovarian cancer is the eighth most commonly diagnosed cancer in women and the seventh leading cause of cancer death among women worldwide. Annually, over 220,000 women will be diagnosed with ovarian cancer around the world and approximately 140,000 will die from the disease (World Health Organization).
In 2013, it is estimated that 22,240 new cases of ovarian cancer were diagnosed in the U.S. and 14,230 deaths would result. Ovarian cancer is the most lethal of the gynecologic malignancies. Treatment for ovarian cancer usually involves advanced surgery and chemotherapy.
CTIC reported that the Gynecologic Oncology Group informed the company that it has completed patient enrollment in the GOG-0212 Phase 3 clinical trial of investigational agent paclitaxel poliglumex (Opaxio(NYSE:TM) ) as maintenance therapy in ovarian cancer.
The GOG-0212 study is a randomized, multicenter, open label Phase 3 trial of either monthly Opaxio or paclitaxel for up to 12 consecutive months compared to surveillance among women with advanced ovarian cancer who have no evidence of disease following first-line platinum-taxane based therapy.
The trial is being conducted and managed by the Gynecologic Oncology Group, which is one of the National Cancer Institute's funded cooperative cancer research groups focused on the study of gynecologic malignancies.
CTIC's Opaxio(TM) (paclitaxel poliglumex, CT-2103), is a novel chemotherapeutic agent that links paclitaxel to a biodegradable polymer. OPAXIO was designed to improve the delivery of paclitaxel to tumor tissue while protecting normal tissue from toxic side effects.
Recently, Roth Capital reiterated a Buy rating and increased its price target on CTIC from $6.00 to to $7.00 per share
CTIC is a biopharmaceutical company committed to the development and commercialization of an integrated portfolio of oncology products aimed at making cancer more treatable.
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