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ACUR Breathes Easy, GALT Soars, SGNT Amends Deal, Nuvo Pained, ABIO Splits


Acura Pharmaceuticals Inc. (ACUR) rose 48% to $3.04 on Tuesday after the company announced that its nasal decongestant product formulated with abuse deterrent technology - Nexafed, will be stocked by chain drug store KERR DRUG.

Nexafed was launched commercially in December 2012 and is now available through national and regional drug wholesalers.

Array BioPharma Inc. (ARRY) and Global Blood, a venture-backed company founded by Third Rock Ventures, Tuesday announced a multi-target drug discovery collaboration agreement to identify small molecule lead compounds targeting chronic blood-based diseases.

Array will develop assays and screen its proprietary lead generation library of 300,000 small molecules to identify both active site and allosteric modulators of certain Global Blood targets.

ARCA biopharma, Inc. (ABIO) effected a 6-for-1 reverse split of its common stock on March 4, 2013 at 5:01 p.m. On a split-adjusted basis, the stock closed Tuesday's trading at $2.57, down 4.85%.

Galectin Therapeutics Inc. (GALT) rose more than 14% to $3.79 following FDA clearance to proceed with the first human clinical trial of its investigational drug GR-MD-02 for treatment of non-alcoholic steatohepatitis (NASH, or fatty liver disease) with advanced fibrosis. Enrollment in the phase 1 trial is expected to begin in May of this year.

Nuvo Research Inc. (NRI.TO) on Tuesday said that the FDA has declined to approve pain product PENNSAID 2%, a follow-on product to original PENNSAID which is currently marketed in the U.S.

Nuvo licensed the U.S. marketing rights for Pennsaid to Mallinckrodt, the Pharmaceuticals Business of Covidien, under an agreement signed in 2009.

In its complete response letter, the FDA has required Mallinckrodt to successfully complete a pharmacokinetic study comparing PENNSAID 2% to original PENNSAID 1.5%.

Nuvo said that Mallinckrodt expects to complete the study and submit the results to the FDA in the third calendar quarter of 2013.

NRI.TO lost more than 26% in Tuesday's trading to close at C$0.05.

Nymox Pharmaceutical Corp. (NYMX) said its U.S. phase II trial of NX-1207 for prostate cancer has reached the halfway point in patient recruitment. The study is designed to enroll 150 men.

NX-1207 is also in phase III clinical trials in the U.S. and Europe for the treatment of benign prostatic hyperplasia.

NYMX closed Tuesday's trading 3.81% higher at $5.18.

Oncolytics Biotech Inc. (ONCY) (ONC.TO) has completed patient enrollment in a phase II clinical trial of REOLYSIN in non-small cell lung cancer. The study designed to enroll 36 patients evaluates intravenous administration of REOLYSIN in combination with paclitaxel and carboplatin in patients with non-small cell lung cancer with Kras or EGFR-activated tumors.

Sagent Pharmaceuticals Inc. (SGNT) on Tuesday amended its Manufacturing and Supply Agreement with Actavis, receiving an attractive incentive. The amended agreement provides for an enhanced profit split in favor of Sagent, a revised line-up of products including the addition of a zoledronic acid injection, 4 mg vial product, a modified termination date of December 31, 2014 and a one-time termination fee of $5 million payable to Sagent.

SGNT closed Tuesday's trading 5.92% higher at $17.01.

TESARO Inc. (TSRO) has received net proceeds of about $91.2 million from the public offering of shares that was closed Tuesday. A total of 5.4 million shares were sold at a public offering price of $18.00 each.

In the last 5 days alone, the stock has gained 32%.

by RTTNews Staff Writer

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