Shares in Australian cancer treatment developer Sirtex Medical (ASX:SRX) plunged more than 15% yesterday after the company posted a net loss of -A$26.9 million in 2016, compared to a profit of A$54 million the year before. Sirtex has faced a barrage of obstacles this year, including a number of clinical trials that failed to meet primary endpoints. […]
Wall Street Beat
Medtronic supply woes buoy insulin device makers
Share prices for makers of insulin management devices got a bump today after Medtronic (NYSE:MDT) reported today that supply problems pushed sales down -1% for its diabetes division. The Fridley, Minn.-based company, which released its fiscal 2018 first-quarter results this morning, posted diabetes revenues of $449 million for the three months ended July 28. The decline was […]
Omeros closes $68m public offering
Biopharma company Omeros (NSDQ:OMER) said that it closed a $68.3 million underwritten public offering last week, selling 3 million shares of its common stock at $22.75 apiece. After deducting fees and other expenses, Omeros said it is slated to reel in $63.6 million from the offering. The company plans to use its newly-acquired funds to support R&D for its […]
Novartis launches MS study using data collected from smartphones
Novartis (NYSE:NVS) said today that it is launching a research study to better understand the daily challenges facing people with multiple sclerosis. The study is designed to collect data from physical tasks and symptoms using participants’ smartphones. The company said it hopes to find new potential ways to measure treatment effectiveness. Get the full story at […]
Dexcom touts continuous glucose monitoring for Type II diabetes patients
Dexcom (NSDQ:DXCM) touted data today showing that people with Type II diabetes who are using multiple daily injections of insulin can benefit from the use of continuous glucose monitoring. Those in the 158-patient study using Dexcom’s G4 Platinum CGM system experienced significant A1C reduction and spent more time in target range compared to a control group […]
UPDATE: Medtronic logs fiscal Q1 earnings beat, but sales miss the mark
UPDATED August 22, 2017, with segment results, share price. Medtronic (NYSE:MDT) beat the consensus forecast on Wall Street with its fiscal 2018 first-quarter earnings, but missed the mark when it came to sales. The world’s largest medical device operation today posted profits of $1.02 billion, or 74¢ per share, on sales of $7.39 billion for […]
IBM partners to identify risk factors for Type I diabetes
IBM (NYSE:IBM) plans to develop and apply machine learning techniques to years of research data in the hopes of identifying factors that trigger the onset of Type I diabetes in children, with the support of JDRF. Scientists at IBM are slated to assess three different data sets using machine learning algorithms to find patterns and factors that could […]
South Carolina becomes latest state to sue opioid-maker Purdue
On Tuesday this week, South Carolina became the latest state to sue Purdue Pharma, accusing the drugmaker of deceptively marketing their addictive products in a way that fueled the ongoing opioid crisis. The state’s attorney general said that Purdue told doctors that opioids are not addictive and patients who appear to be addicted were only […]
Senseonics prices $25m offering
Senseonics (NYSE:SENS) today priced an upcoming offering, looking to raise approximately $25 million to support its Eversense long-term implantable continuous glucose monitoring system. The Germantown, Md.-based company said it will look to float 11.6 million shares in the offering at a price of $2.15 per share. The offering will also include a 30-day underwriter’s option to […]
House Dems launch MS drug pricing probe
Democrats from the House Committee on Oversight and Government Reform have sent letters to seven drugmakers as part of an investigation into why prices for multiple sclerosis drugs have nearly quadrupled since 2004. Reps. Elijah Cummings (D-Md.) and Peter Welch (D-Mass.) penned inquiries to Bayer, Biogen, EMD Serono, Novartis, Roche, Sanofi-Aventis and Teva Pharmaceuticals. Get […]
DarioHealth looks to raise $4m in private placement deals
DarioHealth (OTCQB:DRIO) said today it inked a number of private placement offerings totaling $4.3 million in aggregate through the issuance of common stock and Series B convertible preferred stock. The Israel-based company said that current shareholders would account for 54% of the securities to be sold in the offerings, in which the company will issue 483,333 shares […]