Financial News

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 […]

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 […]

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 […]

Apple’s Price Target From BMO Slashed to $153 From $213, Rating Kept at Market Perform

Apple’s Price Target From BMO Slashed to $153 From $213, Rating Kept at Market Perform

Apple (AAPL) received a sharp cut to its price target from BMO Capital Markets late Wednesday after the consumer-technology company reduced its fiscal Q1 revenue guidance, citing greater-than-expected economic weakness in some emerging markets and fewer iPhone upgrades than it anticipated. BMO’s new price target on the stock is $153 per share, down from $213. The shares closed Wednesday’s session […]

Athenex Joins With Chinese Partner on Skin-Cancer Drug; to Receive $14.5 Million

Athenex (ATNX) said Thursday it has entered into a licensing and partnership agreement with Chongqing Jingdong Junzhuo Pharmaceutical to develop and commercialize its drug KX2-391 for the treatment of actinic keratosis and oncology indications in China. Athenex said it will receive an upfront payment of $14.5 million, possible milestone payments of up to $15 million, and initial royalty payments of […]

US Stock Futures Sink After Apple’s Q1 Revenue Warning

US stock futures dropped sharply on Thursday after Apple (AAPL) slashed its fiscal Q1 revenue outlook, blaming a slowing Chinese economy. Oil prices nudged higher, buoyed by a reported drop in December crude exports from Saudi Arabia, with global benchmark Brent crude up 0.97%, and US crude West Texas Intermediate up 0.21% recently. At 8:15 am ET, the national employment […]