4 Healthcare Stock Stories To Kick Off the Trading Week

Peregrine Pharmaceuticals (NASDAQ:PPHM): Closing price $1.41

On Monday, Peregrin reported the completion of patient enrollment in an investigator-sponsored Phase I trial studying bavituximab in combination with the chemotherapeutic agent paclitaxel in patients with metastatic HER2-negative breast cancer. The firm’s lead clinical candidate, bavituximab, is a phosphatidylserine-targeting monoclonal antibody that has shown promising tumor response and survival trends in two prior Phase II advanced breast cancer trials evaluating the compound in additional treatment combinations. Bavituximab is presently being examined in a number of oncology clinical trials — including the lead indication of second-line non-small cell lung cancer, which is hoped to advance into a pivotal Phase III trial later in 2013. Peregrin is a biopharmaceutical firm developing first-in-class monoclonal antibodies focused on the treatment and diagnosis of cancer.

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PPHM

Incyte Corporation (NASDAQ:INCY): Closing price $22.02

Incyte said Monday that it has earned a $25 million milestone payment from Novartis, based upon the formal beginning of a Phase II clinical trial studying c-MET inhibitor INC280 (formerly INCB28060) as monotherapy in patients suffering from advanced hepatocellular carcinoma. The Phase II trial is being run by Novartis as part of a Collaboration and License Agreement, through which Novartis received global exclusive development and commercialization rights to INC280, and certain back-up compounds in all indications. Incyte may co-develop INC280, and to co-detail the compound in the United States.

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INCY

GlaxoSmithKline (NYSE:GSK): Closing price $52.42

Impax Laboratories’ (NASDAQ: IPXL) brand products divisionImpax Pharmaceuticals, has announced that Impax and GlaxoSmithKline are ending their collaboration for the development and commercialization of IPX066 outside of the United States and Taiwan. IPX066 (known as Rytary in the U.S.) is an investigational extended-release capsule formulation of carbidopa-levodopa that is being developed for the symptomatic treatment of adult patients suffering from idiopathic Parkinsons disease, and is not approved at any place in the world. Through the terms of the agreement created in December 2010, GSKs right to develop and commercialize IPX066 outside the U.S. and Taiwan switches back to Impax, effective the end of July. The decision came due to delays in the expected regulatory approval and launch dates in countries in which GSK has rights to commercialize the product.

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GSK

Galectin Therapeutics (NASDAQ:GALT): Closing price $4.98

Galectin on Monday released data that was presented on April 27th at the International Liver Congress in Amsterdam. The data came from the laboratory of Dr. Scott Friedman of the Icahn School of Medicine at Mount Sinai, a renowned investigator and expert on liver fibrosis. It was discovered that GR-MD-02 and GM-CT-01, drugs that inhibit galectin proteins, reversed the most advanced stage of liver fibrosis, called cirrhosis, in experimental animals given toxin-induced cirrhosis. Galectin Therapeutics is a developer of therapeutics that target galectin proteins to treat fibrosis and cancer.

 

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GALT

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