Following a 1-for-52 reverse stock split of common shares traded on the Toronto Stock Exchange, Sophiris Bio Inc., of La Jolla, Calif., slashed its planned public offering price from $13 per share to $5 per share, while increasing the number of shares offered to maintain a target of $65 million in gross proceeds.
Interleukin-15 (IL-15) is considered to be a critical factor in development, proliferation and activation of the cellular immune response, and as such a promising cancer immunotherapeutic agent that is being tested in clinical studies by the National Cancer Institute and the National Institutes of Health. However, IL-15 is limited by a very short half-life in the body.
Immunomedics Inc.'s epratuzumab exceeded expectations in a Phase II trial in follicular lymphoma, producing a response rate of 88.2 percent when used in combination with rituximab.
Bind Therapeutics Inc. plans to give the public a chance to invest in its pipeline of programmable therapeutics in an initial public offering worth $80.5 million. The cash influx will support development of its Accurins, compounds designed to target specific cells or tissues and deliver a payload to the site of disease. Bind's lead candidate, BIND-014, is in Phase II trials for non-small-cell lung cancer (NSCLC) and metastatic castrate-resistant prostate cancer (mCRPC).
Poised to file an investigational new drug application for its lipid drug MAT9001, Tarpon Springs, Fla.-based Matinas Biopharma Holdings Inc. raised $15 million in a private placement financing.
NPS Pharmaceuticals Inc., of Bedminster, N.J., racked up $4.8 million in Gattex (teduglutide) sales in the second quarter of 2013, with expectations of $25 million to $30 million in net sales for the full year.
Amgen Inc. quietly backed out of its partnership with Array Biopharma Inc. for development of glucokinase activators (GKA), returning the program, including lead candidate ARRY-403, back to Array. The collaboration dates to 2009, when Amgen paid $60 million up front plus research funding for worldwide rights to Array's small-molecule GKA program.
GIcare Pharma Inc. took the next step in developing a sedation-free, colonic analgesic in patients undergoing colonoscopy by launching a Phase IIa trial of GIC-1001.
Apexigen Inc., of Burlingame, Calif., reeled in a $20 million Series A1 financing to advance its cancer therapy, APX005. Ankey Ventures LLC led the financing, with participation from WSR Capital, China Development Industrial Bank, Themes Investment Partners and Sycamore Ventures.
Transition Therapeutics Inc. will receive an investment of up to $21 million from certain shareholders purchasing 2.5 million units of the company's stock at $4.19 per share. The financing will support the company through completion of three Phase II studies.
