AbbVie Inc. (ABBV) and privately held Alvine Pharmaceuticals have entered into a global collaboration to develop a novel oral treatment for patients with celiac disease.
The agreement calls for AbbVie to make an initial upfront payment of $70 million to secure exclusive option to acquire global rights to ALV003, Alvine's investigational oral therapy for celiac disease, which is currently under phase II testing. Alvine will maintain responsibility for phase II clinical development, and upon successful completion of the phase IIb study, AbbVie may exercise its option for the agreed upon additional consideration.
ABBV closed Tuesday's trading at $45.35, up 1.82%.
Derma Sciences Inc. (DSCI) said it has engaged Plexus Ventures to explore options for DSC127, its phase III investigational drug for diabetic foot ulcer healing, outside the U.S. The company said that the process is expected to take nine to 15 months and to culminate with one or more agreements covering specific geographies or countries in Europe, Asia and emerging markets.
DSCI touched a new 52-week high of $13.91 on Tuesday before closing at $13.80.
Shares of Inovio Pharmaceuticals Inc. (INO) were up more than 6% to $0.66 on Tuesday after the company announced that its SynCon DNA vaccine against Ebola and Marburg filoviruses induced strong and broad immune responses and demonstrated 100% protection against death in a preclinical study.
Insmed Inc.(INSM) announced that the European Patent Office intends to grant E.U. Patent for the company's experimental drug ARIKACE. The composition of matter patent provides exclusivity in any of the European Patent Office's member states where Insmed chooses to file at least through July 19, 2026.
ARIKACE is being evaluated as a potential treatment for cystic fibrosis patients with Pseudomonas aeruginosa lung infections and patients with nontuberculous mycobacteria lung infections. Top-line clinical results from a phase III registrational study of ARIKACE are expected in mid-2013.
INSM gained 3.10% on Tuesday to close at $9.14.
Seattle Genetics Inc.'s (SGEN) supplemental Biologics License Application seeking additional approval of ADCETRIS for retreatment and extended duration beyond 16 cycles of therapy in relapsed Hodgkin lymphoma and systemic anaplastic large cell lymphoma has been accepted for filing by the FDA. The regulatory agency's decision is expected by September 14, 2013.
ADCETRIS was approved by the FDA for the treatment of relapsed or refractory Hodgkin lymphoma and systemic anaplastic large cell lymphoma in 2011.
SGEN closed Tuesday's trading at $38.56, up 3.29%.
Synergy Pharmaceuticals Inc. (SGYP) has been selected for addition to the NASDAQ Biotechnology Index, effective prior to the market open on May 20.SGYP closed Tuesday's trading 3.92% higher at $5.30.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.