Shares in Insulet (NSDQ:PODD) rose today after the company met earnings expectations on Wall Street and beat sales estimates with its second quarter results. The Billerica, Mass.-based company posted a net loss of -$7.8 million, or -13¢ per share, on sales of $109.8 million for the 3 months ended June 30, for bottom-line loss of -85% […]
Drug-Device Combinations
National Cancer Institute to back research efforts for local delivery of chemo
The National Cancer Institute and the National Institutes of Health said last month that it plans to fund up to five projects involving novel methods to locally deliver chemopreventative drugs. The two organizations pointed out that new technologies have enabled healthcare practitioners to detect cancer earlier in humans, but the ability to treat these high-risk […]
Pacira misses on Q2 sales, earnings
Shares in Pacira Pharmaceuticals (NSDQ:PCRX) fell slightly today after the pharmaceutical company missed expectations on Wall Street with its second quarter results. The Parsippany, N.J.-based company posted a net loss of -$19.7 million, or -49¢ per share, on sales of $70.9 million for the 3 months ended June 30, for bottom-line loss of -148% on sales […]
Aerie Pharmaceuticals misses Q2 EPS by a penny
Shares in Aerie Pharmaceuticals (NSDQ:AERI) held steady today after the pharmaceutical company missed EPS estimates on Wall Street with its second quarter results. The Irvine, Calif.-based company posted a net loss of -$28.4 million, or -82¢ per share, with its bottom line down -22.5% compared with the same period last year. Adjusted to exclude 1-time items, […]
Cerus inks $40m loan deal with Oxford Finance
Cerus (NSDQ:CERS) said today that it inked a $40 million amended growth capital credit facility with Oxford Finance. Concord, Calif.-based Cerus received a $30 million loan when it closed the deal, according to the company, and can draw another $10 million contingent upon a specified sales milestone. “Oxford continues to be an invaluable partner. Their appreciation […]
Intersect ENT tops EPS, sales estimates in Q2
Shares in Intersect ENT (NSDQ:XENT) surged today after the drug-device company beat expectations on Wall Street with its second quarter results. The Menlo Park, Calif.-based company posted a loss of -$2.3 million on sales of $24 million for the 3 months ended June 30, for bottom-line growth of 62% on sales growth of 24% compared […]
Ocular Therapeutix slashes workforce following FDA rejection
Ocular Therapeutix (NSDQ:OCUL) revealed yesterday that it plans to cut 26 jobs across the Bedford, Mass.-based company – about 19% of its workforce. The effort to reorganize comes just weeks after the FDA rejected Ocular’s resubmitted new drug application for its hydrogel plug, Dextenza. Ocular said it expects to finish restructuring in the third quarter of this […]
Milestone Pharmaceuticals raises $55m in Series C
Milestone Pharmaceuticals said today that it closed a $55 million series C financing round. Led by Novo Holdings, the round also included new investors Forbion Capital Partners and Tekla Capital Management, as well as existing investors Domain Associates and Fonds de solidarité FTQ, BDC Capital, Pappas Capital, and GO Capital. The Montreal-based company is slated to use […]
ViaCyte launches cell replacement trial for Type I diabetes
Regenerative medicine company ViaCyte said today that the first patients have been implanted in a trial of its islet cell replacement therapy, PEC-Direct. San Diego-based ViaCyte is developing the cell therapy as a functional cure for patients with Type I diabetes who are at risk of suffering acute life-threatening complications. The company’s open-label clinical trial […]
Innoviva proposes $175m private placement
Innoviva (NSDQ:INVA) said today that it plans to offer $175 million in a private placement to certain qualified institutional buyers. The Brisbane, Calif.-based company said it expects to give initial buyers a 30-day option to buy up to an additional $17.5 million in notes. The terms of the convertible senior notes, which are due 2025, are […]