INCY's Got More Proof, AKRX Hits New High, ILMN Opens Wallet, RGLS On Watch

(RTTNews) - Akorn Inc. (AKRX) expects to report Q3 consolidated revenue in the range of $81 million to $82 million. The company's consolidated revenue in Q2, 2013 was $77 million. The company is scheduled to report Q3 results on Nov.5.

AKRX touched a new 52-week high of $21.24 on Monday before closing at $20.88.

Asterias Biotherapeutics Inc., a majority-owned subsidiary of BioTime Inc. (BTX), plans to file a registration statement with the SEC next month for an underwritten public offering of units, with each unit consisting of one share of Series B common stock, $0.0001 par value per share, and one redemption right in respect of one share of Series B common stock. The net proceeds of the offering are expected to be between $12 million and $15 million.

BTX closed Monday's trading 1.85% higher at $3.86.

Cellceutix Corp. (CTIX.OB) has entered into a new stock purchase agreement with Aspire Capital Fund, LLC, under which Aspire Capital has committed to purchase up to $20 million of Cellceutix's common stock over the next three years at prices based on the market price at the time of each sale.

CTIX.OB closed Monday's trading at $1.87, up 5.65%.

In a move that will strengthen its informatics portfolio and enable accelerated adoption of next-generation sequencing in current and new markets, Illumina Inc. (ILMN) has signed a definitive agreement to acquire Santa Clara-based NextBio, a leader in clinical and genomic informatics. The transaction is expected to close by the end of October.

ILMN closed Monday's trading at $92.76, down 0.57%.

Incyte Corp. (INCY) said that its drug candidate INCB39110 improved multiple rheumatoid arthritis efficacy scores compared to placebo over 12 weeks of therapy in a dose-escalation phase II proof-of-concept clinical trial.

INCB39110 was also generally well-tolerated without evidence of myelosuppression or immunosuppression, said the company.

Earlier in the month, the company announced positive results from a 28-day, placebo-controlled, dose-escalation phase II proof-of-concept clinical trial of INCB39110 in chronic plaque psoriasis.

INCB39110 is also under a proof-of-concept study in patients with myelofibrosis.

INCY closed Monday's trading at $39.43, down 2.86%.

Regulus Therapeutics Inc. (RGLS), which has a strategic alliance with AstraZeneca plc (AZN) on three exclusive microRNA targets in cardiovascular and metabolic diseases and oncology, said that AstraZeneca has selected a new pre-clinically validated microRNA oncology target.

RGLS closed Monday's trading 1.93% down at $7.10.

Sangamo BioSciences Inc. (SGMO) presented new data, which demonstrated that sustained functional control of HIV in the absence antiretroviral therapy (ART) is possible with a single SB-728-T treatment.

SB-728-T is being evaluated in an ongoing phase 2, two phase 1/2 and two phase 1 trials in subjects with Human Immunodeficiency Virus (HIV) and Acquired Immunodeficiency Syndrome (AIDS).

SGMO closed Monday's trading 2.61% higher at $10.61.

Sunesis Pharmaceuticals Inc. (SNSS) has initiated a phase I/II investigator-sponsored trial of its lead product candidate Vosaroxin in adult patients with previously treated intermediate-2 or high-risk myelodysplastic syndrome.

The trial is expected to enroll approximately up to 40 patients.

SNSS closed Monday's trading at $4.91, up 1.45%.

Valeant Pharmaceuticals International Inc. (VRX) (VRX.TO) is all set to pay Anacor Pharmaceuticals Inc. (ANAC) $142.5 million no later than November 8, 2013 to resolve all outstanding disputes between them, including the interim final award order in the arbitration.

The arbitration was related to certain development services provided by Dow Pharmaceutical Sciences, Inc. to Anacor to develop topical antifungal product candidate Tavaborole for the treatment of onychomycosis under a master services agreement dated March 26, 2004. Dow Pharmaceutical Sciences was acquired by Valeant in December 2008.