AFFX Says No To Rival Bid, AUPH Awaits Data In Q3, Eagle Flies Down

(RTTNews) - Affymetrix Inc. (AFFX) , which has received a rival takeover bid from Origin Technologies Corp. LLC, has decided not to consider this proposal.

Origin Technologies, a newly created shell entity formed by a group of former Affymetrix executives, is offering to buy Affymetrix for $16.10 per share in cash , equivalent to a total value of $1.5 billion.

Affymetrix already has an agreement in place, signed in January of this year, to be acquired by Thermo Fisher Scientific Inc. for $14 a share in cash, or a purchase price of approximately $1.3 billion. The agreement was unanimously approved by both boards of directors, and the transaction is expected to be completed by the end of June.

AFFX touched a new high of $16.15 on Friday, before closing the day's trading at $15.99, up 14.05%.

Aurinia Pharmaceuticals Inc. (AUPH)(AUP.TO) expects primary end-point results from its phase 2b trial of Voclosporin in patients with active lupus nephritis to be released in the third quarter of this year.

The trial, dubbed AURA, completed enrollment of 265 patients (target 258 patients) as recently as January.

AUPH closed Friday's trading at $3.03, up 1.33%.

CryoLife Inc. (CRY) announced that its ProCol Vascular Bioprosthesis distribution rights and purchase option have been acquired by LeMaitre Vascular Inc. (LMAT) from Hancock Jaffe Laboratories Inc.

Consequently, CryoLife will receive about $2.0 million for all of its ProCol related assets, including inventory, customer lists, related marketing assets, and its purchase option, as well as for settlement of all amounts due to CryoLife from Hancock Jaffe. For the year ended December 31, 2015, CryoLife's ProCol revenue was $1.3 million.

CRY closed Friday's trading at $10.64, down 1.30%. In after hours, the stock was up 2.16% to $10.87.

Eagle Pharmaceuticals Inc.'s (EGRX) New Drug Application for KANGIO (ready-to-use bivalirudin) has been turned down by the FDA.

The company had sought approval of KANGIO for use as an anticoagulant in patients: (1) undergoing percutaneous coronary intervention ("PCI") with use of glycoprotein IIb/IIIa inhibitor, (2) undergoing PCI with, or at risk of, heparin-induced thrombocytopenia ("HIT") and thrombosis syndrome ("HITTS"), and/or (3) with unstable angina undergoing percutaneous transluminal coronary angioplasty ("PTCA").

In its complete response letter to Eagle, the FDA requested further characterization of bivalirudin-related substances in the drug product.

EGRX closed Friday's trading at $43.50, down 18.96%.

Pfizer Inc.'s (PFE) first two pivotal phase III trials of oral Tofacitinib in ulcerative colitis have met primary and key secondary endpoints.

In the trials, dubbed OCTAVE Induction 1 and OCTAVE Induction 2, at Week 8, a significantly greater proportion of patients receiving Tofacitinib 10 mg twice a day were in remission compared to placebo.

Another phase III trial of Tofacitinib, known as OCTAVE Sustain and a long-term extension trial, dubbed OCTAVE Open, are underway. Results for OCTAVE Sustain are anticipated by the end of 2016.

PFE closed Friday's trading at $29.45, up 0.37%.