Windtree Therapeutics (NSDQ:WINT) said today that it implemented a 1-for-20 reverse stock split of its issued and outstanding common stock. The reverse split was approved in November by the holder of the majority of the company’s shares without a meeting of shareholders, according to the Warrington, Penn.-based company. Windtree’s stock began trading today on a split-adjusted […]
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FDA approves IV drug to treat dangerously low blood pressure
The FDA today approved an intravenous injection drug to treat low blood pressure in adult patients with septic shock. The drug, Giapreza, is made by La Jolla Pharmaceutical (NSDQ:LJPC) and was given priority review by the FDA. “Shock, the inability to maintain blood flow to vital tissues, can result in organ failure and death,” Dr. […]
Histogenics inks deal to develop Neocart for the Japanese market
Histogenics (NSDQ:HSGX) has inked a deal with Medinet to develop and commercialize its Neocart implant for the Japanese market. The Waltham, Mass.-based company’s Neocart implant is designed to repair knee cartilage damage. The product is made using a patient’s own cells, harvested from the surface of the patient’s femur. “This transformative collaboration for Histogenics is […]
NovaBay shareholders clear $10m stock deal
NovaBay Pharmaceuticals (NYSE:NBY) said today that its shareholders have approved a deal to issue 2.4 million shares of common stock as part of a $10.3 million deal with Beijing-based Ch-gemstone Capital. The private placement is slated to close in January next year, contingent upon approval by regulatory authorities in China. “We appreciate our stockholders’ support […]
TearLab cuts headcount in restructuring effort
TearLab Corp. (OTC:TEAR) is looking to keep its customer base and reduce the company’s cash burn rate with a new business model that will result in people losing their jobs, according to regulatory filings. The company said that it wants to focus resources on the development of its next-gen TearLab Discovery platform. TearLab did not report […]
Taris Biomedical lands $25m Series B following Bristol-Myers deal
One day after announcing a research collab with Bristol-Myers Squibb (NYSE:BMY), Taris Biomedical revealed that it has raised $25 million in a Series B round. Bristol-Myers also contributed to the round, which was led by Yonghua Capital. “We have made substantial progress on our lead programs in bladder cancer and overactive bladder,” president & CEO Purnanand Sarma said […]
AstraZeneca wins FDA nod to remove boxed warning from asthma drug label
After reviewing results from trials involving more than 41,000 asthma patients, the FDA has agreed to remove the boxed warning of serious asthma-related outcomes for AstraZeneca‘s (NYSE:AZN) Symbicort product. Patients using Symbicort, which combines an inhaled corticosteroid and a long-acting beta2-adrenergic agonist in a single inhaler, did not experience a significant increase in the risk […]
Report: Drugmakers may have ducked $1.3B in Medicaid rebates
Without calling out any drug companies by name, the U.S. Dept. of Health and Human Services’ Office of Inspector General revealed this week that 10 potentially misclassified drugs may have resulted in $1.3 billion in lost rebates to Medicaid between 2012 and 2016. The issue of ducking rebates came to the public’s attention earlier this […]
United Therapeutics dishes out $210m to settle charity-kickback claims
United Therapeutics (NSDQ:UTHR) has agreed to pay $210 million to squash claims that it used a charity to illegally cover Medicare patients’ out-of-pocket costs in an attempt to boost sales. Drug companies are not allowed to subsidize co-pays for people enrolled in Medicare, but they can donate to independent non-profits that provide co-pay assistance. The settlement […]
FDA rejects Santen’s intravitreal uveitis therapy
Shares in Santen Pharmaceutical (OTC:SNPHY) fell -3% today after the company’s U.S. subsidiary said that the FDA rejected the application for its intravitreal sirolimus therapy The company is developing its DE-109 product to treat people with noninfectious uveitis of the posterior segment, which can cause blindness in adults. Santen reported that the FDA’s complete response […]