Shares of Capstone Therapeutics were walloped after data from Phase IIa pilot trials testing antifibrotic peptide AZX100 in keloid scarring fell short of showing statistical significance, but company executives maintained that the drug warrants further development.

Coming off a good showing at the American Society of Hematology meeting in Orlando, Fla., where its JAK inhibitor CYT387 impressed in myelofibrosis, YM BioSciences Inc. is padding its coffers with a $40 million public offering.

Keryx Biopharmaceuticals Inc.'s iron-based phosphate binder Zerenex (ferric citrate) met the primary and key secondary endpoints in a short-term Phase III trial in hyperphosphatemia in dialysis patients, results that bode well for the ongoing long-term study as well as for the drug's potential in the $1.5 billion phosphate binder market. (BioWorld Today)