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Stock Market & Financial Investment News

News Breaks
April 16, 2014
10:34 EDTAPRI, TKPYYApricus Biosciences reports Takeda accepts first shipment of Vitaros
Apricus Biosciences (APRI) announced earlier that Takeda Pharmaceuticals (TKPYY), the company's partner in the United Kingdom, has accepted the first shipment of Vitaros, Apricus' topical treatment for erectile dysfunction. Apricus CEO Richard Pascoe said, "With the commercial availability of Vitaros in the United Kingdom, Takeda is in a position to finalize its pre-launch activities in an effort to be the first Vitaros commercial partner to offer an on demand topical cream treatment for men with erectile dysfunction." Shares of Apricus are up about 16% to $2.34 in morning trading.
News For APRI;TKPYY From The Last 14 Days
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October 28, 2014
12:43 EDTAPRIApricus Biosciences downgraded to Hold from Buy at Cantor
Cantor Fitzgerald downgraded Apricus Biosciences to Hold and lowered its price target for shares to $1.50 from $3 citing the dilutive equity sale to Aspire Capital.
October 27, 2014
19:48 EDTTKPYYEli Lilly responds to ruling in Takeda case
Eli Lilly (LLY) issued the following statement in response to a judge's ruling that the punitive damages awarded in the case of Terrence Allen, et al. v. Takeda Pharmaceuticals (TKPYY) be reduced. The judge reduced the punitive damages from $3B for Lilly and $6B for Takeda to $9.2M for Lilly and $27.6M for Takeda. Plaintiffs also were awarded $1.27M in compensatory damages. The allocation of liability was 75% Takeda, 25% Lilly. "While we have empathy for the plaintiff, we believe the evidence did not support his claims," said Mike Harrington, senior VP and general counsel, Lilly. "We will continue working vigorously to overturn the verdict."
18:45 EDTTKPYYTakeda Pharmaceutical Co. Ltd. reponds to ruling in diabetes drug case
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17:31 EDTTKPYYEli Lilly, Takeda have Actos award cut to $36.8M from $9B, Bloomberg reports
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October 20, 2014
06:13 EDTAPRIApricus Biosciences to host conference call
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05:27 EDTAPRIApricus licensed U.S. development, commercialization rights for fispemifene
Apricus Biosciences announced that it has licensed the U.S. development and commercialization rights for a novel selective estrogen receptor modulator, or SERM, fispemifene, an investigational treatment for urological conditions in men, from Forendo Pharma, a private therapeutics company based in Finland. This license agreement combines Apricus' expertise in men's health with Forendo's established leadership in SERM drug discovery, to advance the development of fispemifene as an investigational treatment for urological conditions in men. Under the terms of the agreement, Forendo and its advisors received an upfront license fee of $12.5M comprised of a $5M cash payment and the issuance of $7.5M in Apricus common stock; approximately 3.6M shares priced at the 360-day average market price of $2.08 per share. The agreement includes additional potential clinical and regulatory milestone payments to Forendo of up to $45M, including for potential FDA approval, as well as potential commercial milestone payments totaling up to $260M, based on achieving specified annual net sales levels up to $1B in the U.S. Apricus will also pay tiered low double-digit royalties based on net sales once the product is commercialized. Apricus will be responsible for the clinical development of fispemifene in the U.S., as well as all future commercialization efforts in the U.S. and its territories.

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