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Stock Market & Financial Investment News

News Breaks
January 8, 2014
08:16 EDTBMRN, CPRXCatalyst, BioMarin report phase 3 Firdapse study meets primary endpoint
Catalyst Pharmaceutical (CPRX) announced results from a study jointly funded with, and conducted by BioMarin Pharmaceuticals (BMRN) to assess the cardiac safety of Firdapse tablets. Firdapse is approved in the E.U., where it is marketed by BioMarin. Firdapse is also currently in Phase 3 development in the U.S. for Lambert-Eaton Myasthenic Syndrome by Catalyst. The study met the pre-specified primary endpoint, demonstrating that at and above therapeutic levels, there was no effect of Firdapse on heart rate or cardiac depolarization. None of the study subjects developed new, clinically relevant electrocardiographic/morphological changes following administration of Firdapse. Additionally, there was no significant effect of Firdapse on cardiac repolarization as assessed using the QT interval. At a pre-IND meeting in 2010, FDA requested TQT study results for Firdapse at exposures higher than typical therapeutic levels be included as part of the clinical safety package in any New Drug Application filed for 3,4-DAP. Charles Gorodetzky, the Chief Medical Officer for Catalyst, said, "This study was designed in accordance with existing FDA guidelines. We are confident in these results and will continue to work toward making Firdapse available to patients in the U.S. if we are able to obtain marketing authorization from FDA."
News For CPRX;BMRN From The Last 14 Days
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January 29, 2015
10:05 EDTBMRNOn The Fly: Analyst Initiation Summary
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06:21 EDTBMRNBioMarin initiated with a Buy at Evercore ISI
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January 22, 2015
06:38 EDTBMRNBioMarin 8.5M share Spot Secondary priced at $93.25
The deal size was increased to 8.5M shares from 7.25M shares. BofA/Merrill and Morgan Stanley acted as joint book running managers for the offering.
January 21, 2015
18:27 EDTBMRNOn The Fly: After Hours Movers
UP AFTER EARNINGS: eBay (EBAY), up 2.9%... United Rentals (URI), up 1.5%. ALSO HIGHER: Minerva (NERV), up 16.1% after reporting positive Phase 1 data with MIN-202... Endo (ENDP), up 3.1% after it was announced that Endo will replace Covidien in S&P 500 as of 1/26 close... Covidien (COV) is up 1%. DOWN AFTER EARNINGS: F5 Networks (FFIV), down 15.8%... Xilinx (XLNX), down 6.1%... Discover Financial Services (DFS), down 3.3%... American Express (AXP), down 2.2%. ALSO LOWER: BioMarin (BMRN), down 2.5% after filing to sell 7.25M shares of common stock... Kinder Morgan (KMI), down 1.9% after announcing that it will acquire Hiland Partners for approximately $3B and reporting fourth quarter results... Cisco (CSCO), down 1.4% after Bloomberg reported that Oracle's (ORCL) Ellison said that Oracle's new Virtual Compute Appliance is cheaper than Cisco's product.
16:03 EDTBMRNBioMarin files to sell 7.25M shares of common stock
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