Heathcare Business Recap: Dendreon’s Charge, Horizon Plummets
These were Thursday’s top stories:
Dendreon Corporation (NASDAQ:DNDN) will take a $25 million charge associated with its decrease in headcount for employee severance along with other related termination benefits, during the second half of this year and into 2013. The firm had previously announced that it anticipates the implementation of its restructuring plan to be finished by mid-2013
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Shares of Horizon Pharma (NASDAQ:HZNP) lose almost a quarter of their value on the day, on the news of a public offering of around 21.4 million units, that consist of common stock and a warrant with which to buy a half-share of common stock. The combined price for the unit is $3.50. The firm had 33.8 million shares outstanding as of Aug. 7th. Net proceeds will be used to pay for current commercialization activities for its Duexis and Rayos drugs.
Data from two Phase III trials indicate that Biogen IDEC Inc.’s (NASDAQ:BIIB) BG-12 compound for multiple sclerosis “demonstrated significant and clinically meaningful reductions” in relapses and brain lesions in patients suffering from relapsing-remitting MS. In addition, BG-12 reduced the progress of the disease. The medication might well be on track to become the third oral medicine for MS, and the safest and most effective, as well.
Shares of Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) wilted to profit taking, subsequent to rebounding from Monday’s selloff over poor clinical trial results for its hypoxia-targeted drug TH-302.
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