Hoffmann-La Roche Inc. has filed a new drug application for ddC that includes information on its safety and efficacy in AIDS when used alone and in combination with AZT. "We feel we have enough information to justify filing for the two indications," company spokesman Paul Oestreicher told BioWorld. He declined to provide specific data on how well the drug did in the clinic. Although he could not estimate when approval might be received, Oestreicher said that "we've been informed this would
Glycomed Inc. on Thursday said it raised $37.5 million through a secondary offering of 2.5 million shares of stock priced at $15 per share. The offering was 500,000 shares larger than the company had previously announced. The Alameda, Calif., company, which is developing pharmaceuticals based on complex carbohydrates, now has 11.7 million shares outstanding. Underwriters Montgomery Securities and Hambrecht & Quist Inc. have a 375,000-share overallotment option. In June, Glycomed (NASDAQ:GLYC
Biomira Inc. has filed for a public offering of about 4 million shares of common stock. The Canadian company, which is developing cancer diagnostics and therapeutics, would have 17.4 million shares outstanding after the offering. Canadian underwriters will be ScotiaMcLeod Inc., Burns Fry Ltd. and Richardson Greenshields of Canada Ltd. In the United States, the offering will be led by ScotiaMcLeod (U.S.A.) Inc. There is no overallotment option. Altamira Capital Corp., which holds 14.5 percent
CytRx Corp. will supply its patented adjuvant for testing of malaria vaccines in a cooperative research effort sponsored by the Centers for Disease Control, the company said Thursday. The Norcross, Ga., company (NASDAQ:CYTR) did not disclose which vaccines will be tested or when the tests will start. Adjuvants work with vaccines to boost the body's immune response. The CytRx adjuvant is a copolymer of ethylene oxide and propylene oxide. Ribi ImmunoChem Research Inc. (NASDAQ:RIBI) of Hamilton
Liposome Technology Inc. on Thursday said it has filed for a 3 million-share stock offering. If the offering is completed, the Menlo Park, Calif., company will have 16 million shares outstanding. LTIZ is developing liposome and lipid-based products to treat infectious diseases and cancer. The company has two products in Phase II clinical trials: Amphocil liposomal amphotericin B anti-fungal drug and a bronchodilator inhaled liposomal albuterol product. Underwriters Oppenheimer & Co. Inc. and
Synergen Inc. shares shot up $8.75 to $55.25 on Wednesday after the company said it would present data next week on its Phase II trial of Antril interleukin-1 receptor antagonist. The trial tested Antril in about 100 patients with sepsis syndrome, which is sepsis with clinical evidence of altered organ perfusion. Data will be presented on Nov. 7 at the American College of Chest Physicians meeting in San Francisco. Chief Executive Officer Jon Saxe predicted in September that Antril would be the
Creative BioMolecules Inc. said Wednesday that it has raised $14 million through the sale of senior preferred stock, an increase of $2.8 million from the originally planned offering. The stock was sold to American and European institutional investors, plus some of the Hopkinton, Mass., company's previous venture investors. Privately held Creative plans to do an initial public offering within six to 12 months, President and Chief Executive Charles Cohen told BioWorld. Creative focuses on two
Just four months after going public at $7.50 a share, Cor Therapeutics Inc. has raised $36.5 million in a public offering of 2 million shares priced at $18.25. Cor stock (NASDAQ:CORR) closed at $20.50, up $1.50 on Wednesday. The South San Francisco, Calif., company raised $15 million in its initial public offering during the soft offering market in June, well below its goal of $22.5 million to $27.5 million. Cor's first product, Integrelin, is in Phase I trials. The drug, which prevents
Strong revenue growth from its joint blood screening business and its ophthalmics unit helped Chiron Corp. earn $5.4 million, or 27 cents a share, on revenues of $29.9 million in the third quarter. The Emeryville, Calif., company earned about $4 million, or 23 cents, on revenues of $19.1 million in the comparable 1990 quarter. Revenues from Chiron's blood screening venture with Ortho Diagnostics Systems Inc. grew to $12.1 million in the quarter ended Sept. 30, compared with about $8 million in
Vestar Inc. announced Wednesday that AmBisome, its intravenous liposomal formulation of amphotericin B, has received approval for general sale in Mexico and a special license for sale in Italy. The drug is a broad-spectrum, anti-infective used to treat potentially fatal systemic fungal infections. AmBisome sales in Italy will be restricted to hospitals and will be based on specific therapeutic need. AmBisome was approved in December 1990 for general sale in Ireland. Elsewhere in Europe, it was
Envirogen Inc. last week completed a $7 million equity financing round. Investors were primarily private individuals, plus some institutions, according to Roger J. Colley, president and chief executive of the bioremediation company. D. Blech & Co. Inc. acted as sales agent. The Lawrenceville, N.J., company originally had hoped to raise about $4 million. Envirogen raised $700,000 in seed financing from investor Robert Johnston in late 1988 and $3 million in a first round from Schroeder Ventures
WASHINGTON -- Xoma Corp. will seek an injunction to block marketing of Centocor Inc.'s drug Centoxin in the United States, according to Gerald Sobel, lead counsel for Xoma. "We are going to apply to the judge for an injunction shortly," Sobel told BioWorld on Tuesday. The decision to seek an injunction comes in the wake of Monday's finding by a federal court jury that Centocor infringed the patent covering Xoma's rival E5 antibody against gram-negative sepsis. Although the prospects for
Amylin Corp. on Tuesday announced a collaboration with Glaxo Inc. to develop new diabetes therapies in an agreement that Amylin Chairman Howard Greene called "a true joint development deal." Instead of assigning royalties in exchange for equity or milestone payments, the agreement calls for the companies to devote essentially equal resources to the research effort and co-promote any resulting products. It is a model for future biotech collaborations, Greene told BioWorld, especially with the
Chiron Corp. and Cetus Corp. on Tuesday announced that stockholders meetings have been scheduled for Dec. 10 to vote on the proposed merger of the two companies. The Emeryville, Calif.-based companies were to send joint proxy statements to stockholders beginning today. Since Oct. 10, Chiron stock (NASDAQ:CHIR) has been trading above the $49 to $67 per share price range set in the deal. If the deal closes while Chiron stock is within that range, Cetus shareholders will receive three-tenths of a
Somatogen Inc. stock leaped $6.50 on Tuesday after the company said it has received Food and Drug Administration permission to begin human testing of its patented blood substitute in a small number of volunteers. The stock (NASDAQ:SMTG) closed at $40.50. The Boulder, Colo., company's hemoglobin is designed to replace blood lost in surgery or trauma, and would avoid the risk of contracting blood-borne infections such as hepatitis and AIDS through transfusion. The preliminary clinical trial
Alliance Pharmaceutical Corp. last week began Phase I clinical trials of its Imagent BP perfluorocarbon-based imaging agent. Imagent was developed for intravenous use with computed tomography to detect metastatic tumors, primarily in the liver. The San Diego company also said its underwriters, Oppenheimer & Co. Inc., Lehman Brothers, and Cowen & Co., sold a 390,000-share overallotment for$22.75 per share. Alliance recently completed a 2.6 million-share secondary offering. In addition
California Biotechnology Inc. said it has raised $56.9 million through an offering of 2.5 million shares of common stock at $22.75 per share. The Mountain View, Calif., company said Tuesday that the offering was increased from an anticipated 2 million shares. After the offering, the developer of products for cardiopulmonary diseases, tissue repair and metabolic disorders has 17.4 million shares outstanding. Underwriters Hambrecht & Quist Inc. and Cowen & Co. have a 375,000-share overallotment
Immunex Corp. stock picked up $1.50 on Tuesday, closing at $45, after Kidder, Peabody analyst Robert Kupor upgraded his rating to a "buy" from "hold," based on the potential of the company's antagonists to interleukin-1 and tumor necrosis factor. Kupor's six-month target price for the stock (NASDAQ:IMNX) is $55 to $60. "Importantly, Immunex will be the only biotech company with antagonists to both of these cytokines -- the two major endogenous mediators of inflammation -- and so be in the
Magainin Pharmaceuticals Inc. has filed for an initial public offering of 2 million shares of common stock with a proposed price range of $10 to $12 per share. If the offering is completed, the Plymouth Meeting, Pa., company will have 8.3 million shares outstanding. Magainin is developing drugs based on a family of host-defense peptides called magainins to treat infections and certain cancers, and to promote wound healing. Magainins kill infected or diseased cells by forming a channel through
Immune Response Corp. has grossed $44 million in a secondary stock offering, the company said Tuesday. Of the 1.3 million shares priced at $44, a stockholder sold 300,000 shares. After the offering, the San Diego company has 14.9 million shares outstanding. Underwriters Montgomery Securities and Robertson, Stephens & Co. have a 195,000-share overallotment option. The stock (NASDAQ:IMNR) gained $3.25 to close at $49 on Tuesday after Montgomery Securities analyst Brandon Fradd reiterated an
Hoffmann-La Roche Inc. has filed a new drug application for ddC that includes information on its safety and efficacy in AIDS when used alone and in combination with AZT. "We feel we have enough information to justify filing for the two indications," company spokesman Paul Oestreicher told BioWorld. He declined to provide specific data on how well the drug did in the clinic. Although he could not estimate when approval might be received, Oestreicher said that "we've been informed this would