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DiaMedica Therapeutics Says FDA Accepts New Drug Application for Chronic Kidney Disease Treatment

DiaMedica Therapeutics, Inc. (DMAC) said early Thursday that the Food and Drug Administration has accepted its investigational new drug application for the initiation of a phase 1b clinical trial of DM199 in patients with moderate or severe chronic kidney disease (CKD) caused by Type I or Type II diabetes. The multi-site clinical study will enroll 32 subjects to evaluate DM199’s […]

Otonomy Expects Clinical Results From Three Trials In 2020, Sees Lower Operating Expenses In 2020

Otonomy (OTIC) on Thursday provided an update on its product pipeline and financial guidance for 2019 to 2020. The biopharmaceutical firm said it expects to have clinical trial results for three programs in 2020 including the previously announced phase 3 trial of Otividex in Meniere’s disease, phase 1/2 trial of OTO-313 in tinnitus patients in the first half of 2020 […]

Apple Suppliers Losing Ground in Sympathy With Sales Warning

Apple’s (AAPL) surprise sales warning late Wednesday is reverberating throughout the technology sector as its legion of suppliers go down with the ship. With more than 200 companies participating in the manufacture of Apple products, the fallout spreads across nearly every sector of the tech-heavy Nasdaq Composite. While most vendors are located in China, many trade on the NYSE resulting […]

Bristol-Myers Squibb Acquires Celgene for $74 Billion in Cash, Stock Transaction

Bristol-Myers Squibb Acquires Celgene for $74 Billion in Cash, Stock Transaction

Bristol-Myers Squibb (BMY) said Thursday it would acquire Celgene (CELG) in a cash and stock transaction valued at about $74 billion. Under the terms of the acquisition, Celgene shareholders will receive one share of Bristol-Myers Squibb and $50 in cash for each share they own. They also will receive one tradeable contingent value right for each share of Celgene they […]

Molina Healthcare Says Extension Of CVS Caremark Service Pact To Be Earnings Accretive ‘Immediately’

Molina Healthcare Inc. (MOH) said early Thursday it extended an agreement with CVS Caremark, a unit of CVS Health (CVS), to deliver pharmacy-benefits management, or PBM, services through 2021, a move that Molina said is accretive to its earnings immediately and will also lower its costs. Under the agreement, effective Jan. 1, CVS will continue to administer pharmacy benefits for […]

Mortgage Applications Extend Decline as Investors Lean Toward US Treasuries

Mortgage applications fell sharply in the final week of 2018, extending a downward trend which has seen declining consumer demand for traditional home purchase financing as investors continued to show a preference for safer US treasuries. Applications for mortgages fell by nearly 10% from two weeks earlier, according to survey data from the Mortgage Bankers’ Association (MBA) which covered more […]

Ohr Pharmaceuticals Surges 82% On Merger Agreement With NeuBase Therapeutics Inc.

Ohr Pharmaceuticals Surges 82% On Merger Agreement With NeuBase Therapeutics Inc.

Ohr Pharmaceuticals (OHRP) soared more than 82% in pre-market trade on Thursday after the company said it has agreed to merge with NeuBase Therapeutics Inc. Stockholders of NeuBase would become the majority holders of the combined company. The proposed merger will create a public company focused on advancing NeuBase’s peptide-nucleic acid antisense oligonucleotide, or PATrOL, technology platform to develop therapies […]