AVEO Pharmaceuticals Inc.'s golden touch remained intact as the Cambridge, Mass.-based company grossed $100 million plus in an underwritten public offering of 5.75 million shares of common stock at $17.50 a share, a discount of about 8 percent. An underwriters' option could add as much as $15 million more. Read More
When it comes to getting an injection in the eye, the fewer the better. That's what Regeneron Pharmaceuticals Inc. is counting on to drive its Eylea into the market for the neovascular form of age-related macular degeneration (wet AMD). Read More
Turku, Finland-based Biotie Therapies Oyj climbed by more than 9 percent Wednesday on news that its partner H. Lundbeck A/S completed its Phase III development program with nalmefene, a drug aimed at tackling alcohol dependency, and that it plans to file for European approval later this year. Read More
Three years after restrictive labeling and labor-intensive postmarketing requirements crushed hopes for a potential blockbuster, GlaxoSmithKline plc handed back the last of its stake in constipation drug Entereg (alvimopan) to Adolor Corp., but analysts see the move as a positive for the Exton, Pa.-based biotech. Read More
NuPathe Inc., of Conshohocken, Pa., received a $10 million loan under a secured credit facility. It said that the funds will support the launch of its migraine therapy, Zelrix, targeted for the first half of 2012. Read More
pSivida Corp., of Watertown, Mass., amended its existing agreement with New York-based Pfizer Inc. to focus solely on a sustained-release implant for ocular hypertension and glaucoma. The product will deliver the drug latanoprost using a system based on pSivida's Durasert technology. Pfizer will pay $2.3 million initially, and pSivida will develop the glaucoma candidate through Phase II trials. At that point, Pfizer can exercise an option for $20 million to develop and commercialize the product globally. In that event, pSivida would be eligible for milestone payments worth up to $146.5 million, plus double-digit royalties. Read More
Peregrine Pharmaceuticals Inc., of Tustin, Calif., reported promising median overall survival of 12.4 months from a Phase II trial of bavituximab plus carboplatin and paclitaxel in metastatic non-small-cell lung cancer (NSCLC). Read More
