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KERX Faces D-Day, BGMD, ANTH Skid, FURX, THLD Grow Rich, SGEN Hits High

KERX Faces D-Day, BGMD, ANTH Skid, FURX, THLD Grow Rich, SGEN Hits High
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Keryx Biopharmaceuticals Inc. (KERX: Quote) will be announcing top-line results from a phase 3 registration program of its investigational drug Zerenex today (Monday, January 28) before 8:00 am ET. A conference call will be hosted today at 8:00am ET to review the results. Zerenex is being studied for the treatment of elevated serum phosphorus levels, or hyperphosphatemia, in patients with end-stage renal disease on dialysis.

KERX closed Friday's trading at $3.43, down 4.46%.

Furiex Pharmaceuticals Inc. (FURX) is all set to receive a $25 million milestone payment from Takeda Pharmaceutical Company Ltd., following Friday's FDA approval of three new type 2 diabetes therapies - NESINA, OSENI and KAZANO, for the treatment of type 2 diabetes in adults as adjuncts to diet and exercise. Furiex is also entitled to receive royalties on sales in the United States and potential sales-based milestones.

FURX closed Friday's trading 0.43% higher at $21.24.

Pfizer Inc. (PFE: Quote) on Friday received FDA approval for the expanded use of its pneumococcal conjugate vaccine, Prevnar 13, in vaccine-naive children and adolescents aged 6 years through 17 years. Prevnar 13 was first introduced for use in infants and young children in December 2009 in Europe and in February 2010 in the U.S.

PFE, which is trading near its 52-week high, closed Friday at $27, up 0.56%.

Helix BioPharma Corp. (HBP.TO: Quote) on Friday successfully completed the previously announced sale of its Rivex Pharma division to Pharmascience Inc. for gross cash proceeds of $8.5 million, subject to adjustment. The transaction is expected to provide a significant cash infusion to Helix and permit it to focus on the research and development aspects of its business.

BG Medicine Inc. (BGMD: Quote) on Friday priced the 6 million shares that are being offered in an underwritten public offering at $2.00 each. The net offering proceeds to the company are expected to be approximately $11.1 million. The offering is expected to close on or about January 30, 2013.

BGMD dropped over 14% on Friday to close at $2.11.

Seattle Genetics Inc. (SGEN: Quote) set a new high of $30.41 on Friday before closing at $30.30, following data from ASG-5ME phase I trial for pancreatic cancer phase, which demonstrated tolerability and evidence of antitumor activity of the compound.

Anthera Pharmaceuticals Inc. (ANTH: Quote) dropped 10.51% on Friday to close at $0.64 after the company priced an underwritten public offering of 60,606,061 shares of its common stock, at $0.66 each. The gross proceeds from the offering are pegged at $40.0 million, and the offering is expected to close on or about January 30, 2013.

Shares of ImmunoGen Inc. (IMGN) fell 2.02% on Friday to close at $15.04 after the company reported a wider loss for its second quarter - almost double than the year-ago comparable period. The company's T-DM1 marketing applications for treatment of people with HER2+, unresectable locally advanced or metastatic breast cancer who have received prior treatment with Herceptin and a taxane are under review in the US and Europe. The FDA decision on T-DM1 is set for February 26, 2013.

Threshold Pharmaceuticals Inc. (THLD: Quote) is all set to earn a $30 million milestone payment from its partner Merck KGaA, following the initiation of a phase III study of TH-302 in patients with locally advanced or metastatic pancreatic adenocarcinoma.

The study, dubbed MAESTRO, evaluates TH-302 plus gemcitabine against with placebo plus gemcitabine and is expected to enroll 660 patients. This marks the second phase III study of TH-302 in addition to the ongoing phase III pivotal trial in patients with soft tissue sarcoma.

THLD touched an intraday high of $5.54 on Friday before closing at $4.97.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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