TapImmune Inc. (OTCBB: TPIV) announced a license agreement with Crucell N.V. (Nasdaq: CRXL).
Under the license TapImmune may use the proprietary PER.C6(R) cells in its development programs. The PER.C6(R) cell line is ideally suited for the development and large-scale manufacturing of a multitude of biopharmaceuticals. In the use of recombinant vaccines using adenoviral vectors, PER.C6(R) cells do not generate replication competent adenoviruses, making it the state-of-the-art platform for the large-scale production of adenoviral vectors for clinical applications.
Poniard (Nasdaq: PARD) closed at $7.09. PARD is a biopharmaceutical company focused on development of oncology products. SPEAR Phase three study in small cell lung cancer (SCLC) on PARD's Picoplatin is expected by year end 2009. The study was designed to evaluate picoplatin vs. best supportive care for the treatment of platinum resistant/refractory SCLC. PARD November 7.5 straddle $3.15, December is at $5.95. PARD November option implied volatility is at 272, December is at 296, March is at 198, according to Track Data. Paul Foster
BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) received an initial order for 10,000 courses of intravenous (i.v.) peramivir (600 mg once-daily for five days) with a value of $22.5 million under a newly issued contract with the Department of Health and Human Services (HHS). On November 4, BioCryst shipped the entire order from existing i.v. peramivir inventory to HHS.
"BioCryst is pleased to deliver this initial U.S. Government order for peramivir for use under the Emergency Use Authorization, or EUA, to treat hospitalized adult and pediatric influenza patients who may benefit from peramivir," said Jon P. Stonehouse, President and Chief Executive Officer at BioCryst. "We expect to complete production of approximately 120,000 additional courses of i.v. peramivir by the end of December, and we are prepared to produce more if required to meet orders for the U.S. or other governments. BioCryst has been in contact with a number of governments around the world that are assessing i.v. peramivir for critically ill influenza patients.
Shares of BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) are flying higher this afternoon after updating on its website that they cancelled today's appearance at an Oppenheimer conference "due to recent developments". Speculators are betting on a takeover or major partnership. Shares are up 7.6% on heavier-than-normal volume.
BioCryst recently received emergency use authorization for the investigational anti-viral drug intravenous peramivir in certain adult and pediatric patients with confirmed or suspected 2009 H1N1 influenza infection who are admitted to a hospital.
Merriman Curhan Ford issues comments on Celldex Therapeutics, Inc. (Nasdaq: CLDX) after Q3 results. The firm expect positive incremental catalysts in the near term. "Updated Phase II breast cancer data with CDX-011 (formerly Curagen's CRO-011) will be presented at the San Antonio Breast Cancer Symposium, December 9-13." The firm reiterated their Buy rating and $14-$15 price target.
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