Echo Fails The Test, OREX To Effect Reverse Split, PFE's S-TRAC Study Hits Goal

(RTTNews) - Echo Therapeutics Inc. (ECTE) has been delisted from the Nasdaq Stock Market for failing to meet the shareholders' equity requirement.

Effective July 12, 2016, the company's common stock is expected to trade on the OTCQB Venture Market, operated by OTC Markets Group Inc. under its current trading symbol "ECTE."

ECTE closed Friday's trading at $1.79, up 29.71%. In after hours, the stock was down 28.49% to $1.28.

Gilead Sciences Inc.'s (GILD) Epclusa, a fixed-dose combination tablet containing sofosbuvir and velpatasvir, has been granted marketing authorization by the European Commission for the treatment of adults with genotype 1-6 chronic hepatitis C virus infection. The drug was approved by the FDA on June 28, 2016.

Epclusa is Gilead's third sofosbuvir-based treatment to be granted Marketing Authorization by the European Commission for the treatment of chronic HCV infection - the first one being Sovaldi as a single agent, approved in the European Union on January 16, 2014, and the second being Harvoni, a combination of sofosbuvir and ledipasvir, which received marketing authorization in the European Union on November 18, 2014.

GILD closed Friday's trading at $86.55, up 1.26%.

Orexigen Therapeutics Inc.'s (OREX) Board of Directors and stockholders have approved a 1-for-10 reverse stock split of the company's common stock. The shares of the company will begin trading on a post-split basis on July 12, 2016.

Following the reverse stock split, the number of shares of the company's outstanding common stock will reduce to approximately 14.6 million from 145.9 million.

OREX closed Friday's trading at $0.45, up 3.44%.

Pfizer Inc.'s (PFE) phase III study of SUTENT as adjuvant therapy in patients at high risk of recurrent renal cell carcinoma, dubbed S-TRAC, has met its primary endpoint of improving disease-free survival.

SUTENT is an oral multi-kinase inhibitor that was approved in the United States in 2006 for the treatment of advanced renal cell carcinoma. It is currently approved in 119 countries and is the most prescribed among oral medications approved for the treatment of advanced renal cell carcinoma in the United States, according to the company. The drug generated sales of $1.12 billion in 2015.

PFE closed Friday's trading at $36.12, up 0.98%.

Specialty generic pharmaceutical company Teligent Inc. (TLGT) on Friday announced that its abbreviated new drug applications for both Triamcinolone Acetonide Lotion USP, 0.1% and Triamcinolone Acetonide Lotion USP, 0.025% have been approved by the FDA.

Triamcinolone Acetonide Lotion USP, 0.025% and 0.1% are indicated for relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses. Based on IMS Health data from May 2016, the total addressable market for the two products is approximately $6.8 million.

According to the company, seven ANDAs from its internally developed pipeline of topical generic pharmaceutical products have been approved by the FDA thus far.

TLGT closed Friday's trading at $8.07, up 4.94%.