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Aphria In Focus, UBX To Report Phase I Data In Q2, RARE On Track

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Today's Daily Dose brings you news about Green Growth's unsolicited take-over bid for Aphria; stock offering of Bellerophon, PTC Therapeutics; Accuray's better-than-expected Q2 results; UNITY Biotechnology's progress in osteoarthritis trial; positive data from Ultragenyx Pharma's phase II study of UX007 in patients with long-chain fatty acid oxidation disorder.

Read on...

Accuray Inc. (ARAY) has reported better-than-expected financial results for the second quarter of fiscal 2019 ended December 31, 2018.

Total revenue was $102.3 million in the recent second quarter compared to $100.3 million in the prior fiscal year second quarter. Net loss narrowed to $4.6 million or $0.05 per share for the 2019 fiscal second quarter from $4.7 million or $0.06 per share for the 2018 fiscal second quarter.

Analysts polled by Thomson Reuters were expecting revenue of $101.95 million and a loss of $0.08 per share.

Looking ahead, the Company reaffirmed its fiscal year 2019 revenue guidance provided on October 30, 2018.

For fiscal 2019, total revenue is expected to be between $415 million to $425 million, which would represent 3 to 5 percent growth year over year. The consensus revenue estimate of analysts for the year is $420.67 million.

ARAY closed Tuesday's trading at $3.97, up 2.58%.

Green Growth Brands Inc. (GGB.CN) has commenced an unsolicited take-over bid to acquire all outstanding common shares of cannabis company Aphria Inc. (APHA.TO) (APHA) in exchange for 1.5714 common shares of GGB.

In a press release, Aphria has advised its shareholders to take NO ACTION on the Offer until Aphria's Board of Directors has made a formal recommendation to shareholders.

APHA closed Tuesday's trading at $7.08, up 5.99%.

Bellerophon Therapeutics Inc. (BLPH) has offered to sell shares of its common stock in an underwritten public offering.

The Company also intends to grant the underwriter a 45-day option to purchase additional shares of its common stock equal to 15% of the shares to be sold in the offering to cover over-allotments, if any.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

BLPH closed Tuesday's trading at $0.88, down 7.33%.

The CE Mark for Endologix Inc's (ELGX) Nellix EndoVascular Aneurysm Sealing System has been suspended, following a voluntary recall issued by the Company on January 4, 2019.

The recall was based on the Company's decision to optimize patient outcomes.

Earlier this month, Endologix announced that the Nellix System will for the foreseeable future be made available only for use at approved centers in a clinical investigation setting, with all cases pre-screened by a physician panel and supported by Endologix to ensure use in accordance with the current indications and optimal clinical outcomes.

ELGX closed Tuesday's trading at $0.75, down 9.63%.

PTC Therapeutics Inc. (PTCT) has commenced a public offering of $200 million of shares of its common stock.

The sole underwriter, RBC Capital Markets, has an option for a period of 30 days to purchase up to an additional $30 million of shares of common stock.

PTCT closed Tuesday's trading at $33.02, down 4.12%.

UNITY Biotechnology Inc. (UBX) has further expanded its phase I study of UBX0101 in patients with moderate to severe osteoarthritis of the knee with a cohort of an additional 24 patients at the highest evaluated dose (4mg) (Part B).

Part B is intended to supplement Part A of the phase I trial by further evaluating the impact of UBX0101 on specific pro-inflammatory and extracellular matrix modifying factors within the Senescence-Associated Secretory Phenotype (SASP), the Company noted.

Top-line results from both Part A and Part B are expected in the second quarter of 2019.

UBX closed Tuesday's trading at $12.16, down 2.33%.

Ultragenyx Pharmaceutical Inc.'s (RARE) ongoing phase II long-term extension study of UX007 in patients with long-chain fatty acid oxidation disorder has yielded positive results.

The study has demonstrated sustained reductions in the duration and frequency of major clinical events (MCE) and a long-term safety profile similar to what has previously been seen with UX007, noted the Company.

Ultragenyx is on track to submit the New Drug Application for UX007 in mid-2019.

RARE closed Tuesday's trading at $51.15, down 4.11%.

Veru Inc. (VERU) has initiated a phase Ib/II clinical trial for VERU-111 in men with metastatic refractory prostate cancer.

The study will be conducted in approximately five centers in the United States, with results expected by the year-end of calendar 2019.

VERU closed Tuesday's trading at $1.35, up 0.75%.

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