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November 29, 2013
07:01 EDTPIPPrescott urges PharmAthene investors to vote against Theraclone merger
Prescott Group Capital Management, a greater than 10% shareholder of PharmAthene, who has previously urged shareholders to vote against the Theraclone merger based largely on the lack of proper disclosures, now questions the quality of due diligence performed by PharmAthene’s Board of Directors after Theraclone announced on November 27 that: “Theraclone Sciences, Inc., a therapeutic antibody discovery and development company, today announced that it has received notification from the Biomedical Advanced Research and Development Authority informing the company that their proposal, 'Broad spectrum anti influenza A M2e fully human monoclonal antibody TCN 032: Determination of efficacy in serious influenza disease,' was not selected for funding under the current proposal." Prescott’s concerns are heightened by disclosures made in an August 1 investor presentation, which indicate that TCN 032 has the largest market potential of all the drugs presented for Theraclone’s clinical pipeline. Prescott believes this BARDA funding denial calls into question two critical components used by PharmAthene’s Board to help justify the merger: (1) access to non-dilutive government funding; and (2) a significant worldwide market opportunity for one of Theraclone’s most developed drugs.
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April 7, 2014
09:02 EDTPIPPharmAthene receives notice advising company of of SparVax anthrax vaccine
PharmAthene announced that it has received notice from the Department of Health and Human Services, Biomedical Advanced Research and Development Authority, advising the company of its decision to de-scope the current SparVax anthrax vaccine contract through a partial termination for convenience. BARDA will provide additional guidance to PharmAthene on the contractual changes, following which PharmAthene will evaluate its options with respect to its SparVax program. PharmAthene has been developing SparVax to address a requirement for a modern anthrax vaccine based on state-of-the-art vaccine technology. Phase 1 and Phase 2 clinical trials involving 770 healthy subjects have demonstrated that SparVax appears to be well tolerated and capable of producing an immune response in humans.

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