Healthcare Biz Recap: Rosetta Genomics Spikes, Dynasil Pops, J&J Ticks Up
Shares of Rosetta Genomics (NASDAQ:ROSG) are WAY up again Thursday for no reason that is apparent at the moment, other than the May 16th announcement that Novitas, the designated Medicare Administrative Contractor for ROSG’s miRview mets2 assay, plans to cover the assay for all Medicare beneficiaries. It could indeed be a residual from that event, as there seems to be no current news that might be the cause.
Private equity firm Vidara Therapeutics International acquires InterMune’s (NASDAQ:ITMN)Actimmune interferon gamma-1b unit for $55 million in cash and a two-year royalty stream. InterMune had ceased its active development for Actimmune a few years before, as it chose to concentrate on other research and development operations, such as its Pirfenidone treatment for idiopathic pulmonary fibrosis.
Earnings Report: Patterson Companies Earnings: The Profit Streak Continues.
Bayer Aktienges Ads (BAYRY.PK) has submitted a New Drug Application to the FDA seeking approval for the oral multi-kinase inhibitor regorafenib for the treatment of patients with metastatic colorectal cancer, according to Onyx Pharmaceuticals (NASDAQ:ONXX). Regorafenib is a Bayer compound, but Onyx will receive a royalty on worldwide net sales, which might explain why the latter’s shares moved up Thursday.
Dynasil (NASDAQ:DYSL) shares spike then back off, following word that the firm is going into a technology collaboration agreement with the Mayo Clinic, for the development of therapeutic hypothermia core cooling technology that is designed to protect the brain during cardiac arrest and traumatic brain injury. In another project, Dynasil and Mayo Clinic are partnering on a blood storage technology designed to extend the shelf life of blood products.
Johnson & Johnson’s (NYSE:JNJ) competitive prostate cancer drug, Zytiga, is going through trials to be used earlier in treating patients. So far, it sounds like it is more effective and estimated to only cost $5,000 for a treatment. Whereas, the estimates for a treatment with Dendreon’s (NASDAQ:DNDN) Provenge are running around $93,000. Shares of J&J finished in the green today, as Dendreon sunk more into the red.
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