AVEO Up After-Hours, Plandaí Gets Facelift, SNTA Enchants, Keep Watch On Eagle

(RTTNews) - AVEO Oncology (AVEO) has now regained worldwide rights to AV-203, a clinical-stage ErbB3 (HER3) inhibitory antibody candidate, from Biogen Idec. (BIIB) under an amended agreement.

The original agreement between the two companies was signed in March 2009, under which AVEO has the exclusive right to commercialize ErbB3 antibody products for the potential treatment and diagnosis of cancer and other diseases in North America while Biogen had an exclusive option to develop and market ErbB3-targeted antibodies outside of North America.

Now with Biogen waiving its option to rights outside of North America to AV-203, AVEO has regained the worldwide rights to the compound.

A phase I safety study with AV-203 was successfully completed last May. AVEO noted that the amended agreement allows it to seek a partner with established oncology capabilities that can accelerate and financially support the clinical development of AV-203.

AVEO closed Thursday's trading at $1.67, down 1.76%. In after-hours, the stock was up 12.57% to $1.88.

BG Medicine Inc. (BGMD) touched a new high of $2.36 on Thursday before closing at $1.92 following better-than expected Q4 results.

The company's net loss narrowed to $1.9 million or $0.06 per share on revenue of $1.15 million in Q4, 2013. This compared with a net loss of $2.9 million or $0.14 per share and revenue of $1.07 million in the year-ago period. Wall Street analysts were expecting the company to report a loss per share of $0.12 on revenue of $1.10 million.

Eagle Pharmaceuticals Inc.'s (EGRX) New Drug Application for Ryanodex seeking approval for the treatment of malignant hyperthermia has been accepted for review by FDA. The Ryanodex NDA, which has been granted a priority review classification, has a decision date set for July 22, 2014.

EGRX closed Thursday's trading 1.52% higher at $14.70.

Net Medical Xpress Solutions Inc. (NMXS.OB) said that its 2013 net income improved 600% while revenue grew 23.2%, thanks to its strong telemedicine gains. The company's telemedicine programs include remote examinations for diagnostic radiology and cardiology as well as clinical examinations in the specialties of neurology, psychology and cardiology.

Looking ahead, the company is optimistic that the first quarter of 2014 will be an excellent quarter.

NMXS.OB closed Thursday's trading at $0.08, up 15%.

Plandaí Biotechnology Inc. (PLPL) rose more than 8 percent to $1.34 on Thursday, following the announcement of favorable results from a recent human clinical trial involving a topical preparation of its Phytofare Catechin Complex. The trial tested the anti-aging properties of Phytofare, specifically, surface parameters (scaling and roughness), skin hydration, and skin elasticity.

Synta Pharmaceuticals Corp. (SNTA) rose more than 9 percent on Thursday to close at $5.20, following positive interim results from a phase 2 trial of its lead drug candidate Ganetespib.

The trial, dubbed ENCHANT-1, is a single-arm multi-center phase 2 proof-of-concept study evaluating Ganetespib, administered as monotherapy, for the treatment of metastatic breast cancer.

According to the trial results, Ganetespib demonstrated a good tolerability profile and highly encouraging single-agent activity in both HER2+ and triple-negative disease.

Tetraphase Pharmaceuticals Inc. (TTPH) expects data from its phase III clinical trial of lead antibiotic candidate IV/oral Eravacycline in complicated urinary tract infections, dubbed IGNITE 2, in mid-2014. The company expects top-line data from a phase III clinical trial of IV Eravacycline in complicated intra-abdominal infections, dubbed IGNITE 1, in the first quarter of 2015.

TTPH closed Thursday's trading at $12.60, up 0.80%.

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