Mon, Apr. 6, 11:04 AM
- MabVax Therapeutics Holdings (OTCQB:MBVX +28.3%) closes $11.6M in new financing via a private placement led by OPKO Health (OPK -0.2%) and its Chairman & CEO Dr. Philip Frost. The company issued 15,486,001 units at $0.75 per unit for net proceeds of ~$11.1M. Each unit consists of one share of common stock and a 30-month warrant to purchase one-half share of common stock at $1.50.
- Net proceeds will fund the advancement of novel human antibodies in its pipeline, including the initiation of a Phase 1 trial of its lead antibody, HuMab 5B1.
Thu, Mar. 5, 4:35 PM
- Thinly-traded small cap Heron Therapeutics (NASDAQ:HRTX) heads north again delivering another 10% on an 8x surge in volume. Shares have more than doubled since the intermediate low of $7.09 on January 22.
- The party kicked into high gear in early February when the company announced the initiation of a Phase 1 trial evaluating the safety, pharmacokinetics and pharmacodynamics of HTX-011, an investigational pain medicine the utilizes the company's Biochronomer polymer-based drug delivery platform to release the local anesthetic bupivacaine and the nonsteroidal anti-inflammatory drug (NSAID) meloxicam over an extended period. HTX-011 has previously shown to significantly reduce pain in a validated animal model for up to 72 hours following surgery, although exactly how this was measured is unclear. The company expects to report the results this quarter. A series of Phase 1b/2 trials is on tap to begin in Q2 assessing HTX-011 in a post-surgical pain setting with results expected before the end of the year.
- The company's lead product candidate is the Phase 3-stage Sustol (granisetron injection, extended release) for the prevention of both acute- and delayed-onset chemotherapy-induced nausea and vomiting (CINV). Granisetron is a 5-HT3 receptor antagonist also formulated in the Biochronomer drug delivery platform. The FDA has approved only one 5-HT3 receptor antagonist to date, GlaxoSmithKline's Zofran (ondansetron hydrochloride) injection in 1991.
- CINV-related tickers: (NYSE:OPK) (NASDAQ:INSY) (NASDAQ:TSRO)
Thu, Feb. 5, 3:23 PM
- The resignation of prominent healthcare investor/entrepreneur Dr. Phillip Frost, M.D., from Teva Pharmaceutical Industries' (TEVA +1.8%) Board of Directors prompts aggressive buying from speculators who think a potential deal is afoot with Opko Health (OPK +4.6%). Teva is up on 50% higher volume while Opko's turnover is 3x average.
Dec. 15, 2014, 9:12 AM
Dec. 15, 2014, 8:56 AM
- Opko Health (NYSE:OPK) is up 14% premarket on robust volume in response to its deal with Pfizer (NYSE:PFE). The latter will be pay Opko an upfront fee of $295M and up to $275M in regulatory milestones for the global rights to hGH-CTP, a long-acting growth hormone. Its value proposition is a once-weekly injection, a significant improvement over the once-daily standard of care.
- Opko acquired the rights to hGH-CTP via its takeout of Israel-based Prolor last year.
- Previously: Opko completes its acquisition of Prolor Biotech (Aug. 29, 2013)
May. 12, 2014, 9:09 AM
- Tesaro's (TSRO) Rolapitant drug for the prevention of chemotherapy-induced nausea and vomiting (CINV) has met the primary and secondary goals of a Phase III study of 532 cancer patients, achieving statistical significance compared with standard treatments.
- The data adds to the positive results of two other late-stage trials, the results of which Tesaro announced in December.
- Tesaro plans to apply for FDA approval of Rolapitant in mid-2014; the treatment would compete with Merck's Emend.
- The company's shares are +18.7%, while those of Opko Health (OPK), which sold Tesaro rights to Rolapitant for as much as $121M in up-front and milestone payments, are +0.5%. (PR)
Feb. 13, 2014, 5:43 PM
Dec. 18, 2013, 10:42 AM
- Jefferies is out with some commentary on Opko Health (OPK +5.2%) amid controversy surrounding a short thesis advanced by Lakewood Capital (see Lakewood's article on SA here).
- "In our view, timely achievements of its laid-out milestones and future sales revenues meeting our expectations (albeit significantly lower than its noted market opportunities) would likely provide potential upside to current levels," analyst Eun Yang says.
- Buy rating reiterated.
- Price target is $11.50.
Dec. 16, 2013, 9:11 AM
Dec. 13, 2013, 12:51 PM
Dec. 12, 2013, 5:34 PM
Dec. 6, 2013, 9:09 AM| 3 Comments
Nov. 21, 2013, 2:18 PM| 14 Comments
Aug. 30, 2013, 5:34 PM
Jun. 18, 2013, 5:48 PM
Apr. 24, 2013, 9:08 AMProlor Biotech (PBTH), will be acquired by OPKO Health (OPK) in an all-stock deal worth $480M. PBTH shareholders will get 0.9551 shares of OPK for every share of PBTH they own, equating to $7 per share as of Tuesday's closing prices. PBTH +10.65% premarket. (Previously: strategic alternative evaluation boosts Prolor) | 3 Comments
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