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ANAC, ACCP To Watch Out For, BLRX Slumps, ICAD Gets FDA Nod, STEM Grows Patent


ACCESS PHARMACEUTICALS INC. (ACCP) will be hosting an investor call on Wednesday, April 3 to update investors on financial results for the quarter and the fiscal year ended December 31, 2012.

The company said that revenue of its lead product MuGard, which has received FDA-marketing clearance for the management of patients with mucositis, was $1.05 million in Q4 2012, up 256% from Q4 2011.

Anacor Pharmaceuticals Inc. (ANAC) will be reporting preliminary results from a phase II dose-ranging study of AN2728 in the treatment of adolescents with atopic dermatitis tomorrow, March 21, 2013.

ANAC, which has lost over 26% of its value year-to-date, closed Wednesday's trading at $3.84, up 1.59%.

Shares of BioLineRx (BLRX) slumped over 50% to $1.80 on Wednesday after the company announced its decision to discontinue a phase II/III trial of BL-1020 for schizophrenia. The decision to halt the trial, dubbed CLARITY, was taken based on a pre-planned interim analysis, which revealed that the trial would not meet the pre-specified primary efficacy endpoint.

BSD Medical Corp. (BSDM) has signed an exclusive agreement with Linden Bioscence Co., Ltd. a Taiwan corporation, for the sale and distribution of hyperthermia products in Taiwan.

The deal calls for Linden to purchase a minimum number of BSD-2000 Hyperthermia System from BSD Medical annually over a five year period, totaling a cumulative $7.1 million in revenue to BSD Medical.

BSDM closed Wednesday's trading at $1.42, up 0.71%.

Cardiovascular Systems Inc. (CSII) on Wednesday said it has priced the public offering of 2 million shares of its common stock at $17.60 per share. The offering is expected to close on or about March 25, 2013, and net proceeds are estimated to be approximately $33 million.

CSII closed Wednesday's trading 5.80% higher at $18.80.

iCAD Inc. (ICAD) on Wednesday said its new cervical applicator for Xoft Electronic Brachytherapy System for intracavitary treatment of cancer of the uterus, cervix, endometrium and vagina has received FDA clearance.

The company noted that the regulatory clearance of Xoft's cervical applicator will help address an unmet need for improved treatment for cervical cancer, which is the second most common cancer in women worldwide, with about 500,000 new cases and 250,000 deaths each year.

ICAD closed Wednesday's trading at $5.37, up 3.07% higher.

International Stem Cell Corp. (ISCO.OB) on Wednesday said that human parthenogenetic stem cells evaluated in a pilot study demonstrated safety and efficacy in a primate model of Parkinson's disease. The company said that the data will form the foundation of its discussions with the FDA for the Investigational New Drug filing this year.

StemCells Inc. (STEM) has expanded its neural cell patent portfolio by acquiring from NsGene A/S, a privately held Danish biotechnology company, a patent family claiming GFAP+ Nestin+ cells. GFAP and Nestin are proteins that are co-expressed by certain key cells found in the human central nervous system. The terms of the patents extend into 2020 and 2021.

Valeant Pharmaceuticals International Inc. (VRX) on Wednesday said it will acquire Obagi Medical Products Inc. for $19.75 per share in cash. The acquisition, which is considered a valuable supplement to Valeant's current dermatology portfolio, is expected to be immediately accretive to its cash earnings per share. The transaction is expected to close in the first half of 2013.

VRX touched a new 52-week high of $74.67 before closing at $73.33, up 2.65%.

by RTTNews Staff Writer

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