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May 5, 2014
07:35 EDTLPTNLpath's Lpathomab for traumatic brain injury receives $1.7M development grant
Lpath received official notification from the National Institutes of Neurological Diseases and Stroke that it has been awarded a $1.7M, 2.5-year grant to develop its antibody therapeutic, Lpathomab against the bioactive lipid lysophosphatidic acid for the treatment of traumatic brain injury. The Phase l amount of $224K will fund studies designed to repeat in rats the efficacy previously demonstrated in a controlled-cortical-impact model of TBI. Contingent on Phase I success, Phase II funds of almost $1.5M will be used to advance Lpathomab through safety, pharmacology, and toxicology studies needed to file an IND.
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May 20, 2015
09:25 EDTLPTNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: American Eagle Outfitters (AEO), up 8.6%... Computer Sciences (CSC), up 4.1%. ALSO HIGHER: Sarepta Therapeutics (SRPT), up 44.5% after announcing plans for rolling eteplirsen NDA... Genocea Biosciences (GNCA), up 22.5% after GEN-003 Phase 2 trial met primary endpoint... IsoRay (ISR), up 31.7% after Cesium-131 reports 96% success in local control and 100% survival in 5 years... AVEO Pharmaceuticals (AVEO), up 15.7% after presenting results of extension study 902 and gets FDA feedback for tivozanib... Pep Boys (PBY), up 12.5% following reports that potential buyer have approached the company about a possible takeover. DOWN AFTER EARNINGS: Etsy (ETSY), down 19.5%... China Distance Education (DL), down 7.7%... Keysight Technologies (KEYS), down 5.7%.... Lowe's (LOW), down 5.2%. ALSO LOWER: Lpath (LPTN), down 75.6% after announcing that it will undergo corporate restructuring... Achillion Pharmaceuticals (ACHN), down 10.1% following collaboration for HCV with Janssen... El Pollo LoCo (LOCO), down 3.5% after 6M share Block Trade priced at $22.25... Cimarex Energy (XEC), down 3.3% after 6M share Spot Secondary priced at $109.00.
08:13 EDTLPTNLpath to undergo corporate restructuring
Lpath will restructure its workforce and conduct a strategic evaluation of its research and development programs in order to conserve working capital and focus its resources on those programs deemed most likely to create value in the near term. The company expects that the reduction in workforce together with planned reductions or delays in other expenditures will decrease annualized cash expenditures significantly. With these planned spending reductions, Lpath estimates that its available cash and committed funding should be sufficient to fund the company's drug discovery and development activities through June 30, 2016. Lpath completed a Phase 2a clinical trial of ASONEP in renal cell carcinoma. While that study did not meet its primary endpoint, there were encouraging signals of activity, and Lpath is currently exploring additional indications for ASONEP. Lpathomab is an anti-LPA antibody that is ready to begin a Phase 1 clinical study for neuropathic pain upon clearance from the FDA. Altepan is an anti-leukotriene antibody that is being studied in models of inflammatory bowel disease, respiratory disease and inflammation. Lpath is also applying its proprietary technology to other bioactive lipid targets to create additional novel bioactive-lipid-oriented product candidates for the company's pipeline.
08:11 EDTLPTNLpath's iSONEP for macular degeneration does meet endpoints
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