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Insmed Incorporated (NASDAQ:INSM) divests around 6.3 million common shares at Thursday’s closing price to affiliates of the investment firms RA Capital, Ayer Capital, and Quaker Partners. The biopharmaceutical firm indicated that it also expects to offer as much as an additional $2 million worth of shares to an investor and that the offer should be closed before Oct. 31st; the price will be based upon the most recent consolidated closing bid price at that point in time.
Peregrine Pharmaceuticals (NASDAQ:PPHM) shares fell by 7.21 percent to $1.03 on word that the firm has been chosen by Advanced BioScience Laboratories (AMEX:ABL) to supply development and large-scale manufacturing services to support cGMP output of an HIV envelope protein as part of a preventive vaccine against HIV infection.
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Dendreon Corporation (NASDAQ:DNDN) says that a reason to be enthusiastic about Oncothyreon centers upon an ongoing Phase III evaluation for its immunotherapeutic treatment for non-small cell lung cancer, Stimuvax, which is partnered with Merck KGaA. Results from this trial should emerge in early 2013 and shares of firms in the cancer immunotherapy sector which see positive Phase III results could spike by substantial margins.
Vivus (NASDAQ:VVUS) has been cleared of a putative class action accusing it of lying to investors regarding the risks of its recently okayed obesity treatment Qsymia. In California, a federal judge ruled that the firm had made adequate disclosures about the medication, and thereby dismissed the suit.
Arena Pharmaceuticals (NASDAQ:ARNA) moved up Thursday as it plans to introduce its patented Belviq treatment early next year. During the past 12 months, the firm realized a return on equity of -166.62 percent because to the financial situation and earnings per share fell to a minus 61 cents. However, earnings are projected to move up by 25 percent for the next five years.
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