Eleven Biotherapeutics Inc (NASDAQ:EBIO) continues to edge higher in the market having completed the acquisition of Viventia Bio Inc in an all-stock transaction. With the acquisition, the company will now be able to pursue opportunities on targeted protein therapeutics as it also continues to work on its proprietary protein engineering platform. Viventia joins Eleven Therapeutics with lead product candidates Vicinium and Proxinium. Successful clinical trials of the two drugs should go a long way in bolstering Eleven Biotherapeutics prospects on cancer treatment. Vicinium, which is currently undergoing a phase III trial, targets non-muscle invasive bladder cancer with Proxinium targeting squamous cell carcinoma.
In the meantime, looks like this NEW red hot play in the healthcare space is about to storm WallStreet. The float is tiny (10M s-hares). Recent volume is surging. So are the company’s opportunities, including penetration into a$35 bln new market segment. All moving averages are below the current price and turning upward. And we see no overbought signs yet on the current breakout move. Click to Read more about this new company.
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Trading Lower After Revusiran Discontinuation
Alnylam Pharmaceuticals, Inc.(NASDAQ:ALNY) stock faces an uncertain future on crushing by more than 40% early in the month as discontinuation of Revusiran, a candidate drug for the treatment of hereditary ATTR TTR amyloidosis with cardiomyopathy (hATTR-CM) continues to spook investors . The stock is currently trading at below the $40 a share mark as the Street continues to react to the fact that more patients died while taking the drug compared to Placebo.
The selloff in the stock does not come as a surprise given that the drug could have generated more than $1 billion in annual peak sales on successful trial and regulatory approval. The revenue avenue has now gone to smoke and the company needs to come up with something new to avert investors growing concerns. Alnylam currently has one lead drug
Myriad Genetics, Inc. (NASDAQ:MYGN)’s myChoice HRD Test Posts Better Results
Myriad Genetics, Inc. (NASDAQ:MYGN) has confirmed that its myChoice HRD test did indeed post better than expected results on the testing of ovarian cancer in patients. According to the molecular diagnostics company, the test was able to identify more patients with cancer and whose condition could not be treated with niraparib.
Study results indicate that patients who tested positive with myChoice HRD test ended up experiencing significant improvement in progression-free survival.
Meanwhile, the company has confirmed more than 40 of its employees will take part in the BioYES project, which will help students learn more about biology genetics as well as careers in science.