Biotech and pharma stocks rise on optimism in the markets fueling acquisitions and new product launches.
Notable news in the pharmaceutical and biotech markets includes a slew of mergers and acquisitions, new drug trails and product launches as industry leaders search for competitive advantage and increased revenue streams.
Biotech and pharma companies are flourishing with optimism, fueled by the potential of the new Administration vowing to reduce regulations. Notable market performances and developments include: TG Therapeutics, Kasten, Inc., Xtant Medical Holdings, Inc., Bellerophon Therapeutics, Inc., and Impax Laboratories, Inc., according to the report.
Kasten, Inc. announced that it has completed a merger with Thru Pharma LLC dba DAKOTA Life Sciences. Upon review of Dakota during the phases of the JV setup, the board of directors and members of Kasten and Dakota determined it was in the best interests of both entities and their stockholders, to consummate the merger of Kasten with and into Dakota with Kasten as the surviving entity.
Dakota Life Sciences is engaged in developing health products utilizing Site Specific Penetration Technology SSPT technologies. These products include but are not limited to Thin Nail (OTC first aid nail antifungal), Symphony OTC first aid antibiotic, ThinNail RX topical antifungal, Symphony RX topical antibiotic, Rx line of topical antibiotics and an R&D pipeline of wound care and dermatology products, as well as other life sciences technologies.
Dakota Life Sciences is an anti-infectives private pharmaceutical company, with products designed to provide the highest efficacy, for global patients at high risk of suffering from dangerous microbial and fungal infections.
“Dakota Life Sciences is the solution to take Kasten to the next level. They have a driven experienced management team and the product line already in place, to enhance shareholder value,” stated Jose Delgado, CEO of Kasten, Inc. “Dakota Life Sciences is very pleased to combine forces with Kasten,” said the president of Dakota Life Sciences, Steven Keough. “Our joint focus is to introduce a range of high efficacy affordable prescription and OTC pharmaceutical products that are unique to the market.”
In other industry related performance and recent announcements:
TG Therapeutics closed up over 90% on Monday, at $10.20 trading over 33.5 Million shares by the market close. TG Therapeutics yesterday announced positive topline results from its Phase 3 GENUINE clinical trial of TG-1101 (ublituximab) plus ibrutinib, in patients with previously treated high risk chronic lymphocytic leukemia (CLL).
For the study, high risk was defined as having any one or more of the following: 17p deletion, 11q deletion or p53 mutation. The multicenter, randomized trial (NCT02301156), which assessed the efficacy and safety of TG-1101 plus ibrutinib, met its primary endpoint, demonstrating a statistically significant improvement in Overall Response Rate (ORR), compared to ibrutinib alone in both the Intent to Treat (ITT) population (p=0.001) and Treated population (p<0.001)
Xtant Medical Holdings, Inc. closed up over 19% on Monday, at $0.61 trading over 1.5 million shares by the market close — Xtant Medical Holdings announced last week that it will release its financial results for the fourth quarter and year ended December 31, 2016, after the close of the financial markets on Thursday, March 9, 2017.
Bellerophon Therapeutics, Inc. closed up over 26% on Monday, at $1.77 trading over 7.2 million shares by the market close. Bellerophon Therapeutics, a clinical-stage therapeutics company, focuses on the development of products at the intersection of drugs and devices that address unmet medical needs in the treatment of cardiopulmonary diseases.
Impax Laboratories, Inc. closed up 5% on Monday, at $8.40 trading over 4.6 million shares by the market close. Impax Laboratories, Inc. (IPXL), a specialty pharmaceutical company, last week announced financial results for the fourth quarter and full year 2016.
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(Source: PR Newswire)