Kala Pharmaceuticals (NSDQ:KALA) said today that it closed its initial public offering of 6.9 million shares of common stock. The Waltham, Mass.-based company priced its public offering at $15.00 per share, granting underwriters an option to buy up to 900,000 additional shares. The exercise of this option brought the proceeds of its IPO up from $90 […]
Wall Street Beat
Baxter beats the Street despite plunging Q2 profits
Baxter (NYSE:BAX) managed to exceed the consensus forecast on Wall Street for its second-quarter results, despite plunging profits on low-single-digit sales growth, and raised its outlook for the rest of the year. The Chicago-area healthcare titan said today that profits were down -78.1% to $265 million, or 48¢ per share, on sales growth of 0.8% to […]
Surmodics to launch pivotal trial for drug-coated balloon
Surmodics (NSDQ:SRDX) said today that it won investigational device exemption from the FDA to launch a pivotal trial of its SurVeil drug-coated balloon. The trial is slated to compare the Eden Prairie, Minn.-based company’s device with Medtronic‘s (NYSE:MDT) In.Pact Admiral drug-coated balloon for patients with peripheral artery disease in the upper leg. Get the full story at our […]
Philly judge reverses pelvic mesh win for Johnson & Johnson
A Pennsylvania state court judge last week overturned part of a jury verdict that gave Johnson & Johnson (NYSE:JNJ) subsidiary Ethicon its first win in five pelvic mesh trials in Philadelphia. Last month a jury in the Philadelphia Court of Common Pleas cleared Ethicon in the fourth pelvic mesh bellwether to go to trial there, despite finding that the […]
Biogen lifts outlook after strong Q2
Shares in Biogen (NSDQ:BIIB) rose today after the biopharmaceutical company met expectations on Wall Street with its second quarter results. The Cambridge, Mass.-based company posted profits of $863 million, or $4.07 per share, on sales of $3.1 billion for the 3 months ended June 30, for bottom-line loss of -18% on sales growth of 6% compared with […]
Lilly tops Q2 earnings, revenue estimates
Shares in Eli Lilly (NYSE:LLY) fell today even though the drugmaker beat expectations on Wall Street with its second quarter results. The Indianapolis-based company posted profits of $1.01 billion, or 95¢ per share, on sales of $5.82 billion for the 3 months ended June 30, for bottom-line growth of 35% on sales growth of 8% compared with […]
Brainstorm adds UCal Irvine Medical Center to late-stage NurOwn trial
Brainstorm Cell Therapeutics (NSDQ:BCLI) said today that it inked an agreement with the University of California Irvine Medical Center to enroll patients in the Phase III trial of its NurOwn mesenchymal stem cell-based platform for amyotrophic lateral sclerosis. This marks the third medical center to work with Brainstorm to enroll patients in the late-stage pivotal trial. […]
CryoLife shares down despite Q2 EPS beat
CryoLife Inc. (NYSE:CRY) saw shares fall today despite the medical device maker meeting earnings per share expectations on Wall Street with its 2nd quarter earnings results. The Atlanta-based company posted profits of $3.2 million, or 9¢ per share, on sales of $47.8 million for the 3 months ended June 30 for bottom-line growth of 34.8% while […]
AntriaBio launches trial of once-weekly insulin
AntriaBio (OTC:ANTB) said today that the first patient was dosed in a Phase I first-in-human trial of its once-weekly basal insulin. The single ascending dose study is designed to test the safety, pharmacokinetics and dynamics of AB101 in patients with Type I diabetes. Get the full story at our sister site, Drug Delivery Business News.
3M shares fall on Q2 earnings release
Shares in 3M‘s (NYSE:MMM) have fallen over 5% today after the conglomerate posted its 2nd quarter earnings results, squeaking just ahead of Wall Street expectations for earnings per share and falling short on revenue. The St. Paul, Minn.-based company posted profits of $1.6 billion, or $2.58 per share, on sales of $7.8 billion for the 3 […]
Takeda, BioSurfaces collab on GI drug-delivery devices
Takeda Pharmaceutical (TYO:4502) and BioSurfaces said today that the two companies inked a deal to develop novel medical devices intended to treat patients with gastrointestinal diseases. The deal brings together Takeda’s experience in the gastroenterology space and BioSurfaces’ method of developing nanomaterials from FDA-approved polymers for medical implants and drug-delivery devices. Financial terms of the deal were not […]