Collagen Corp. announced Thursday that it has completed thestock repurchase program it announced in February.
The Palo Alto, Calif., company repurchased 500,000 shares ofits common stock (NASDAQ:CGEN) at an average price of $21per share.
Collagen's board of directors has also recently authorized therepurchase of an additional 400,000 shares of common stock onthe open market.
The company plans to retain the repurchased shares but mayuse a portion of the stock in various company employee benefitplans.
At the end of June, Collagen reported earnings of $17.3 millionand cash, cash equivalents and short-term investments of$19.6 million.
Collagen develops, manufactures and markets biomedicaldevices for treating defective, diseased, traumatized or aginghuman tissues.
BioWorldAug. 20, 1993Vol. 5, No. 162
CORTECH AMENDS IND FOR BRADYCOR
Cortech Inc. on Thursday filed an amendment with the FDA toits investigational new drug (IND) application for Bradycor.
The amendment covers proposed clinical trials on Bradycor fortreating patients with moderate and severe burns.
The proposed study, a double-blinded, placebo-controlledPhase II trial, is designed to investigate the effect of Bradycoron mortality, organ dysfunction, edema and other measures ofoutcome in burn patients.
This will be the third indication for which Cortech of Denver isdeveloping Bradycor. The compound, also known as CP-0127, isan antagonist to bradykinin, a mediator produced in responseto many types of tissue injury, including infection, trauma andburns.
Cortech (NASDAQ:CRTQ) began enrolling systemic inflammatoryresponse syndrome (SIRS) patients with presumed sepsis in aclinical trial in January; that 500-patient study is ongoing. Thecompany also filed an amendment to the IND on May 10 toinvestigate Bradycor in head injury patients.
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