AVXS Walks The Talk, AGN Opens Wallet, Zika Virus Data Lifts AEMD

Pharma 081216

AveXis Inc.'s (AVXS) ongoing phase I trial of AVXS-101 in Spinal Muscular Atrophy Type 1 has demonstrated a favorable safety profile, with no new treatment-related safety or tolerability concerns being identified as of July 1, 2016.

Compared with the data presented as of April 1, 2016, the positive impact on average motor function scores increased from 8.7 to 9.0 points and from 19.2 to 23.3 points in Cohorts 1 and 2, respectively, noted the company.

AveXis expects to report 13.6 months of data for all patients in the ongoing SMA Type 1 phase I trial in the first quarter of 2017.

AVXS closed Thursday's trading at $34.80, up 4.88%. In after hours, the stock was down 16.09% to $29.20.

Shares of Aethlon Medical Inc. (AEMD) rose over 21% on Thursday, following news that in vitro studies demonstrated the rapid capture of Zika virus by Aethlon Hemopurifier.

Aethlon Hemopurifier is a first-in-class device that targets the rapid elimination of infectious viruses and cancer-promoting exosomes from the circulatory system of treated individuals.

According to the CDC, more than 7,300 Americans have been diagnosed with Zika virus infection, including 1,825 individuals in the continental U.S. and Hawaii. In pregnant women, Zika can cause Microcephaly, which results in babies being born with a small head and underdeveloped brain. Zika infection has also been associated with Arthrogryposis, a condition that results in deformities of joints in the arms and legs of newborns.

The company has also entered into an agreement with the Defense Advanced Research Projects Agency to validate the in vitro capture of the Middle East Respiratory Syndrome Coronavirus (MERS-CoV). MERS, which first emerged in the Arabian Peninsula in 2012, has an approximate 30% mortality rate.

AEMD closed Thursday's trading 21.15% higher at $7.56.

Allergan plc (AGN) is all set to acquire privately-held ForSight VISION5, adding peri-ocular ring technology to its portfolio of innovative eye health products.

ForSight's lead development program is a peri-ocular ring designed for extended drug delivery and reducing elevated intraocular pressure in glaucoma patients, which is under phase II testing.

As per the agreement terms, Allergan will pay a $95 million upfront payment and a launch milestone payment related to ForSight's lead development program.

The transaction is subject to the satisfaction of customary closing conditions and is expected to be completed within 60 days.

AGN closed Thursday's trading at $253.02, up 0.33%.

Resverlogix Corp. (RVX.TO) has been given the go-ahead by the independent Data and Safety Monitoring Board to continue with its phase 3 BETonMACE trial in high-risk cardiovascular patients.

The BETonMACE trial is designed to determine whether bromodomain extraterminal domain inhibition treatment with RVX000222 in high-risk type 2 diabetes mellitus patients with coronary artery disease increases the time to major adverse cardiovascular events.

RVX.TO closed Thursday's trading 7.76% higher at $1.25.

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