Cellcor Inc. on Monday said it has filed for an initial public offering of 2 million shares of common stock with a proposed price of $11 to $13. Cellcor is developing living cell therapies, the first of which uses a patient's own white blood cells (autolymphocytes) for the treatment of certain cancers. For the autolymphocyte therapy (ALT), the cells are isolated from a blood sample, grown in vitro in the presence of a lymphokine cocktail and antigens to stimulate antibody production, and
Biomira Inc. shares gained $1.63, closing at $25, after SoundView Financial analyst Larry Bloom raised his earnings estimates on the developer of cancer therapeutics and diagnostics. After meeting with the Edmonton, Alberta, company (NASDAQ:BIOMF) last week, Bloom said Monday that Biomira is focused on moving its breast and colorectal cancer vaccines to market as quickly as possible. Both are moving into Phase II trials this quarter. The company will also move ahead with Phase II trials of its
Advanced Tissue Sciences Inc. said Monday that it has signed a joint development and exclusive supply agreement with Medisorb Technologies International L.P. Under the the agreement, Medisorb of Cincinnati will develop customized synthetic, bioabsorbable mesh for ATS's therapeutic tissue products. The mesh will consist of woven strands that will act as a biodegradable framework for growing skin, cartilage, oral mucosa, bone marrow and liver tissue. Shares of La Jolla, Calif.- based ATS (NASDAQ
Enzo Biochem Inc. announced Monday that holders of $28.2 million of the company's 9 percent convertible subordinated debentures due March 15, 2001, have tendered them for conversion to 5.6 million shares of Enzo common stock. The company's stock (AMEX:ENZ) picked up 13 cents to $5.63 on the news. The company had defaulted on the $30 million worth of bonds. Ninety-four percent of bondholders accepted an offer to convert their bonds during January at $5 per share rather than the original $12.75
VimRx Pharmaceuticals Inc. said Monday that the dosing schedule for its NIH-sponsored Phase I trial of VimRxyn is being revised after the drug caused photosensitivity problems in AIDS patients. Some patients have experienced significant cutaneous discomfort at the second dose level and lesser discomfort at the first dose level, the company said. As a result, some patients have dropped out of the trial. The remaining patients are continuing to receive the drug, but new patients are not being
Amgen Inc. on Monday said it has begun Phase I trials of stem cell factor, an early-acting blood cell growth factor. Although the company hasn't announced its target indications, stem cell factor will be used in the cancer setting, said spokeswoman Kimberly Dorsey. The factor possibly could be used to restore bone marrow and would complement Neupogen granulocyte colony stimulating factor, which restores white blood cells. Also on Monday, Amgen (NASDAQ:AMGN) reported net income for the year
American Biogenetic Sciences Inc. will redeem its 3.45 million class B warrants outstanding on March 5 for 5 cents per warrant, the company said. Prior to redemption, the warrants may be exercised for $4.50 to buy one share of ABS stock (NASDAQ:MABXA). The Notre Dame, Ind., company is developing monoclonal antibody-based products to diagnose, prevent and treat cardiovascular disease and to diagnose Alzheimer's disease. ABS shares fell 38 cents on Monday to $11. (c) 1997 American Health
ROCKVILLE, Md. -- A Food and Drug Administration advisory committee on Friday failed to recommend approval of U.S. Bioscience Inc.'s Ethyol as a treatment to protect healthy cells from chemotherapy. The Oncology Drugs Advisory Committee made 12 recommendations in response to the company's presentation of data from preclinical and clinical trials of Ethyol, some of which are continuing. The committee action took place after the markets closed. The stock (AMEX:UBS) closed down $1.50 at $31.50
Public offerings of biotechnology stocks raised $687 million in January, as nine companies completed initial public offerings worth $405 million and eight companies finished secondary offerings for $282 million. Genetic Therapy Inc. (NASDAQ:GTII) on Friday closed out the month by raising $22.5 million in a secondary offering of 1.5 million shares at $15 per share. After the offering, the Gaithersburg, Md., developer of gene therapy delivery systems has 9.2 million shares outstanding
U.S. District Court Judge Robert H. Schnacke on Friday denied a motion by Centocor Inc. to set aside the jury verdict favoring Xoma Corp. in their patent infringement trial. Xoma shares (NASDAQ:XOMA) gained 75 cents to $24.25 on the news; Centocor (NASDAQ:CNTO) fell $2 to $50. In October, the San Francisco jury found that Centocor's Centoxin infringes Xoma's U.S. patent No. 4,918,163, which covers the use of certain anti-endotoxin monoclonal antibodies to treat humans with gram-negative sepsis
WASHINGTON -- The Office of Science and Technology Policy on Friday issued a report, "Biotechnology for the 21st Century," that sets out government priorities for development of biotechnology. The eight priorities, reflected in President Bush's proposed budget last week, were not based on consultation with the industry, said David J. Galas, Ph.D., associate director for health and environmental research at the Department of Energy. He was chairman of the biotechnology research subcommittee that
Somatix Therapy Corp. has received an exclusive worldwide license to use of a gene therapy involving genetically modified autologous myoblasts, or muscle cells, the company said Wednesday. The Alameda, Calif., company (NASDAQ:SOMA) gained the rights through license of a patent application filed by Stanford University. Somatix said the license covers use of the modified myoblasts in therapy that involves genetic modification of the patient's cells to produce therapeutic substances. The approach
Dr. Martin Barkin has been appointed executive vice president of Deprenyl Research Ltd. and is slated to be appointed president to succeed James P. Doherty, who will become vice chairman. The Toronto company (NASDAQ:DEPLF) said Barkin, formerly deputy minister of health for Ontario, also will be nominated as a director. Deprenyl is developing products largely devoted to Parkinson's and other neurological diseases. Cephalon Inc. of West Chester, Pa., has named Bruce A. Peacock executive vice
Genelabs Technologies Inc. said it has completed an exclusive licensing agreement to develop the anti-cancer compound GL331 with the compound's discoverers at the University of North Carolina, Chapel Hill. The compound, isolated by UNC scientists from the mayapple herb, has shown activity in the lab against cancer cells that have become resistant to other chemotherapies. The company will develop the compound and pay UNC milestone payments and sales royalties. Genelabs (NASDAQ:GNLB) expects to
Bio-Technology General Corp. (NASDAQ:BTGC) of New York on Wednesday said that its recombinant human growth hormone has received marketing approval in Belgium for treatment of short stature. Eskatrope now has approvals in seven European nations. BTGC shares closed at $10.13, down 38 cents. (c) 1997 American Health Consultants. All rights reserved.
Gensia Pharmaceuticals Inc. on Friday announced a 3-for-2 stock split in the form of a stock dividend payable to shareholders of record as of Feb. 10. The shares (NASDAQ:GNSA) will be delivered to eligible stockholders on or about March 2. Fractional shares will be paid in cash. Gensia shares closed at $59.13, up 63 cents. (c) 1997 American Health Consultants. All rights reserved.
Amgen Inc. shares lost $1.75 to $70.50 on Friday after Merrill Lynch analyst Stuart Weisbrod lowered his intermediate-term rating to "neutral" from "above average." Weisbrod based the change on last Thursday's announcement of a strategic marketing agreement between Immunex Corp. and Bristol-Myers Squibb. "It's a very good deal for Immunex," said Weisbrod. He predicted the agreement to develop and market Immunex's PIXY321 blood cell growth factor would erode sales of Amgen's Neupogen
Immunex Corp. shares jumped $5.38 to $62 after the company announced Thursday that it has formed an international product exchange with Bristol-Myers Squibb Co. to develop and market cancer therapeutics. The company's shares (NASDAQ:IMNX) rose $5.13 on Wednesday in anticipation of the agreement. Bristol-Myers will receive rights to register and market Immunex's PIXY321 blood cell growth factor outside of the United States and Canada. Immunex will retain worldwide manufacturing rights and will
HIV-infected volunteers are continuing resist erosion of their T cells two years after vaccination with a candidate AIDS vaccine made by MicroGeneSys Inc. The follow-up data, discussed in letters published this week in the New England Journal of Medicine, indicated that volunteers in the Phase I study at Walter Reed Army Institute showed loss of CD4-bearing immune cells was 8.5 percent. By comparison, the loss was 26 percent in a matched group of HIV-positive individuals. Eight months after
Gensia Pharmaceuticals Inc. has entered into a research collaboration with Allergan Inc. in which the ophthalmics company will evaluate the San Diego biotech company's ARA compound as a eye treatment. Gensia (NASDAQ:GNSA) will supply purine and pyrimidine compounds to Irvine, Calif.-based Allergan (NYSE:AGN) for preclinical testing. Allergan's interest was prompted by the anti-inflammatory properties revealed in preclinical tests of Gensia's adenosine regulating agents (ARAs). Gensia will
Cellcor Inc. on Monday said it has filed for an initial public offering of 2 million shares of common stock with a proposed price of $11 to $13. Cellcor is developing living cell therapies, the first of which uses a patient's own white blood cells (autolymphocytes) for the treatment of certain cancers. For the autolymphocyte therapy (ALT), the cells are isolated from a blood sample, grown in vitro in the presence of a lymphokine cocktail and antigens to stimulate antibody production, and