Akari Therapeutics PlcNASDAQ
Fri, Nov. 18, 12:35 PM
- Akari Therapeutics (AKTX -7.1%) still can't find a friend after the September merger between Celsus Therapeutics and Volution Immuno Pharmaceuticals that produced the new identity. Share are exchanging hands at ~$7.15, a new low and down over 20% since September 21.
- Akari's lead product candidate is Conversin, a second-generation complement inhibitor in development for the treatment of rare disorders paroxysmal nocturnal hemoglobinuria (PNH), atypical hemolytic uremic syndrome (aHUS) and Guillain Barre syndrome (GBS).
Fri, Aug. 19, 12:51 PM
Fri, Jul. 15, 7:10 AM
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- AstraZeneca (NYSE:AZN) initiated with Hold rating by Argus Research.
- Spark Therapeutics (NASDAQ:ONCE) initiated with Outperform rating and $70 (32% upside) price target by RBC Capital.
- Akari Therapeutics (NASDAQ:AKTX) initiated with Sell rating and $5 (55% downside risk) price target by Chardan Capital.
Sep. 18, 2015, 12:45 PM
Sep. 18, 2015, 7:49 AM
- Celsus Therapeutics (NASDAQ:CLTX) shareholders OK its acquisition of Volution Immuno Pharmaceuticals. The combined firm will be known as Akari Therapeutics and will trade under the symbol "AKTX" effective Monday, September 21.
- Previously: Celsus Therapeutics bags $75M capital raise; shareholder vote on Volution Pharma acquisition September 16 (Aug. 18)
Sep. 3, 2015, 12:45 PM
Sep. 2, 2015, 12:40 PM
Aug. 21, 2015, 9:15 AM
Aug. 20, 2015, 12:45 PM
Aug. 20, 2015, 9:14 AM
Aug. 19, 2015, 12:45 PM
Aug. 18, 2015, 8:28 AM
- Celsus Therapeutics (NASDAQ:CLTX) secures a $75M private placement of securities with select institutional investors. The transaction is subject the shareholder approval in conjunction with the company's proposed acquisition of Volution Immuno Pharmaceuticals. The vote is scheduled for September 16 at Celsus's General Shareholder Meeting. Closing date is projected to be September 18.
- The company expects to receive net proceeds of ~$70M from the sale of American Depository Shares (ADSs). Each ADS represents 10 ordinary shares. Based on yesterday's ADS closing price of $0.61 and assuming an aggregate of 949,410,450 fully-diluted shares following the close of the acquisition, each ADS would be priced at $1.58.
- On a pro forma basis, prior to the effect of the private placement, current Celsus shareholders will own ~8.32% of the combined entity while Volution security holders will own ~91.68%. The private placement values the combination, which will be renamed Akari Therapeutics and trade under the symbol "AKTX," at $150M.
- Net proceeds will fund the clinical development of Coversin, a C5 inhibitor for the treatment of complement-related disorders in hematology, nephrology and neurology, working capital and general corporate purposes. C5 inhibition was commercially pioneered by Alexion Pharmaceuticals (NASDAQ:ALXN) with Soliris (eculizumab).
Feb. 17, 2015, 12:44 PM
Feb. 17, 2015, 9:26 AM
- Thinly-traded nano cap Celsus Therapeutics (NASDAQ:CLTX) craters 81% premarket on massive volume in response to its announcement that a Phase 2 trial evaluating its MRX-6 cream 2% in a pediatric population with mild-to-moderate atopic dermatitis failed to demonstrate a significant difference in mean change from baseline to Day 28 compared to vehicle (placebo).
- Based on the Investigator's Global Assessment (IGA), the mean % change from baseline for MRX-6 was -27.9% compared to vehicle's -29.4% (p=0.920). The mean change from baseline was 2.84 for MRX-6 versus 2.71 for vehicle (p=0.934).
Feb. 17, 2015, 9:14 AM
Jan. 13, 2015, 7:19 AM
- Celsus Therapeutics (NASDAQ:CLTX) completes enrollment of 73 children in a Phase 2 clinical trial evaluating the safety and efficacy of MRX-6 cream 2% for the treatment of children with mild-to-moderate atopic dermatitis. The study will have a four-week double-blind period followed by a four-week open label extension for those patients who wish to continue in the trial. Top line data should be available by the end of next month.