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CGIX Uplisted To NASDAQ, ASTM Slips On Stock Offering, OSIR Leaps, ACST On Watch

CGIX Uplisted To NASDAQ, ASTM Slips On Stock Offering, OSIR Leaps, ACST On Watch
8/13/2013 11:08 PM ET

Acasti Pharma Inc.'s (ACST: Quote) (APO.V) phase II trial of drug candidate CaPre in the treatment of mild to severe hypertriglyceridemia met the primary endpoint of significant reduction in triglycerides.

CaPre is a purified high omega-3 phospholipid concentrate derived from krill oil - developed by Acasti parent corporation, Neptune. Krill oil is made from shrimp-like crustaceans, found mostly in the Antarctic and North Pacific Oceans.

The approved medications to lower triglyceride levels namely, GlaxoSmithKline's Lovaza, and Amarin Corp.'s Vascepa, and the investigational drug Epanova being developed by Omthera Pharmaceuticals Inc., all contain omega-3.

Lovaza, launched in 2005, generated worldwide sales of £607 million in 2012, up from £569 million in 2011. Amarin's Vascepa was launched as recently as January 2013 while Omthera, which was acquired by AstraZeneca, submitted its New Drug Application for Epanova for the treatment of patients with high triglyceride levels last month.

But what sets CaPre from the other omega-3 products according to Acasti is that CaPre is designed not only to reduce triglycerides but also to reduce LDL cholesterol and raise HDL cholesterol.

Aastrom Biosciences Inc. (ASTM: Quote) plunged more than 43 percent to $0.30 on Tuesday after the company priced a public offering of 29 million shares of its common stock, and warrants to purchase up to an aggregate of 29 million shares of common stock, at a price of $0.30 per share. The offering is expected to close on or about August 16, 2013, subject to customary closing conditions.

Effective August 14, 2013, Cancer Genetics Inc. will cease trading on the OTC QB and get uplisted to the NASDAQ Capital Market under the symbol (CGIX: Quote). The company has also priced its public offering of 1.5 million shares of its common stock at a price of $10.00 per share.

Myriad Genetics Inc. (MYGN: Quote) was up more than 1 percent to $30.64 in extended trading on Tuesday, following the company's strong fourth quarter fiscal 2013 financial results. Looking ahead, Myriad expects fiscal year 2014 total revenue to range between $690 million and $710 million, representing 13 to 16 percent growth and diluted earnings per share of $1.87 to $1.94 representing 6 to 10 percent growth.

Merrimack Pharmaceuticals Inc.'s (MACK: Quote) investigational drug MM-111 has been granted two separate orphan drug designations - one for the treatment of esophageal cancer and another for the treatment of gastric as well as gastroesophageal junction cancers. MM-111 is being tested in a phase II study in advanced gastric, esophageal and gastroesophageal junction cancers.

The company anticipates top-line trial results of its phase III study evaluating MM-398 in gemcitabine-resistant pancreatic cancer, and four phase II trials testing MM-121 in various cancers in the upcoming months.

MACK closed Tuesday's trading at $3.78, down 6.44%. In after-hours, the stock was up 2.12% to $3.86.

Osiris Therapeutics Inc. (OSIR: Quote) gained as much as 142 percent on Tuesday, setting a new high of $25.90 before closing at $25.44, following overwhelming efficacy results of its biosurgery product Grafix in a diabetic foot ulcer study. Grafix, which is marketed by Osiris currently for wound and tissue repair, is a product regulated for use in the U.S. by the FDA as a Human Cellular and Tissue Based Product.

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by RTT Staff Writer

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