Sep. 10, 2015, 5:28 PM
- With ZS Pharma (NASDAQ:ZSPH) surging 28% today as investors bought in with takeover on their minds, Actelion Pharmaceuticals (OTCPK:ALIOY +2.5%) has confirmed it's started preliminary talks with ZS.
- ZS Pharma shares were up this morning, surged again after 2:20 p.m. today and were halted for news after the close.
- Earlier, the company canceled its presentation and one-on-ones at a Citi investor conference, stoking memories of Kythera's similar cancellation prior to an acquisition several months ago.
- More than 6.7M shares traded hands today against a daily average of about 439K.
- Updated with ZS Pharma's 5:31 p.m. statement: "ZS Pharma today confirmed that it has participated in preliminary discussions with Actelion Ltd. regarding a potential strategic transaction. ZS Pharma regularly and routinely explores opportunities with various strategic partners and will continue to do so. These discussions may or may not lead to any transaction."
Jan. 7, 2015, 10:41 AM
- Arena Pharmaceuticals (ARNA +33.4%) jumps on higher volume in early trading in response to its report of a dose-dependent effect on lymphocyte count lowering for APD334 in a Phase 1b trial.
- Mean decreases in lymphocyte count in blood from baseline were as high as 69%. Counts recovered from baseline, on average, within one week of cessation of dosing. Lymphocyte lowering has been shown to correlate with clinical efficacy in Phase 2 and 3 trials of other S1P1 modulators in multiple sclerosis, psoriasis and ulcerative colitis.
- APD334 is an oral drug that targets the sphingosine 1-phosphate subtype 1 (S1P1) receptor for the potential treatment of autoimmune diseases. The company plans to proceed to Phase 2 development.
- Related tickers: (OTCPK:ALIOF) (OTC:ALIOY) (NYSE:GSK) (OTCQX:RHHBY)
Actelion Pharmaceuticals Ltd is a biopharmaceutical company headquartered in Allschwil/Basel, Switzerland, that focuses on the discovery, development and commercialization of innovative treatments to serve high unmet medical needs.
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