Celgene boosts itself, Acceleron
Celgene Corp. (NASDAQ:CELG) added $5.64 (5.9%) to $100.40 on Thursday after reporting adjusted net income of $806 million in 3Q14, up 20% from $669 million in 3Q13, and upped its revenue and EPS guidance for the year.
Celgene takes option in Sutro cancer deal
Celgene Corp. (NASDAQ:CELG) paid Sutro Biopharma Inc. (South San Francisco, Calif.) $95 million up front in a deal to develop cancer immunotherapies using Sutro's cell-free protein synthesis technology. Celgene also enlarged its equity stake in Sutro to 15% and obtained an option to acquire the company at an unspecified time.
FDA pushes back Natpara PDUFA
NPS Pharmaceuticals Inc. (NASDAQ:NPSP) said FDA has delayed the PDUFA date for Natpara from Oct. 24 to Jan. 24, 2015, to review a major amendment to the BLA. NPS said the agency has also asked for a REMS and will likely require a post-approval study.
J&J to launch Texas incubator
Johnson & Johnson (NYSE:JNJ) announced plans to open the fourth incubator in its J-Labs network, formerly known as Janssen Labs, within the new Innovation Institute at Texas Medical Center in Houston. J-Labs @ TMC, a 30,000-square foot facility capable of housing up to 50 life science start-ups, is slated to open in 4Q15.
Novartis' secukinumab meets in ankylosing spondylitis
Three days after an FDA committee backed the approval of Cosentyx secukinumab from Novartis AG (NYSE:NVS; SIX:NOVN) for moderate to severe plaque psoriasis, the compound met its primary and key secondary endpoints in two Phase III trials in ankylosing spondylitis, another indication dominated by anti-TNF therapies.
Alexion, BioMarin raise 2014 guidance
Rare disease specialists Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) and BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) both raised 2014 guidance in earnings reports on Thursday.
Quartet raises $17M series A
Analgesic developer Quartet Medicine (Cambridge, Mass.) raised $17 million in a series A round led by Atlas Venture. Novartis Venture Funds, Pfizer Venture Investment and Partners Innovation Fund also participated.
Probiodrug raises EUR 22.5M in IPO
Probiodrug AG (Euronext:PBD) raised EUR 22.5 million ($28.7 million) in an IPO through the sale of 1.5 million shares at EUR 15.25 on Euronext Amsterdam, giving the company a market cap of EUR 102.4 million ($130.6 million). Probiodrug priced the offering at the low end of its proposed range of EUR 15.25-EUR 19. Kempen and Petercam were underwriters, and Close Brothers Seydler acted as selling agent. Trading of the shares will start on Oct. 27.
S1 Biopharma sets IPO range
S1 Biopharma Inc. (New York, N.Y.) amended its IPO on NASDAQ and plans to sell 2.8 million shares at $12-$14. At $13, the company would raise $35.8 million and be valued at $118.6 million. S1 Biopharma filed to raise up to $40.3 million on Oct. 1 underwritten by MLV.
Erytech raises EUR 30M in follow-on
Erytech Pharma S.A. (Euronext:ERYP) raised EUR 30 million ($38.2 million) through the sale of 1.2 million shares at EUR 24.50 in a follow-on. U.S. investors provided 68% of the funds.
POLITICS & POLICY
WHO wants trial disclosure deadlines
The World Health Organization is calling for a strict timeline for public disclosure of clinical trial results, citing analysis showing that "a significant proportion of healthcare research remains unpublished," and its concerns that "trial results which may be viewed as 'negative' are less likely to be submitted or accepted" for publication or otherwise made public.
Tobira Therapeutics Inc. has begun a Phase IIb trial of cenicriviroc to treat non-alcoholic steatohepatitis. The Oct. 21 BioCentury Extra misstated the status of the trial.