LGND Does A Deal, Q2 Revenue A Bitter Pill For BGMedicine, CRMD On Watch

(RTTNews) - BGMedicine Inc. (BGMD) plunged over 22 percent on Thursday after the company reported nearly a 26% drop in its Q2 revenues.

The company has two commercial products - Galectin-3 ELISA blood test and CardioSCORE blood test.

The net loss for the second quarter ended June 30, 2014 improved to $2.17 million or $0.06 per share from $4.84 million or $0.18 per share in the prior year-quarter. But total revenues in Q2, 2014 declined to $799,000 from $1.0 million in the second quarter of 2013.

BGMD closed Thursday's trading at $0.73, down 22.33%.

Shares of CorMedix Inc. (CRMD) were up more than 8 percent in extended trading on Thursday, following a double dose of good news.

The company's pivotal phase III clinical trial protocol for Neutrolin, its experimental drug for use in hemodialysis patients with a central venous catheter, has been accepted by FDA. The IND for Neutrolin is expected to be submitted within the next 30 days, and the regulatory agency will then have 30 days to respond to the IND.

CorMedix also announced that it has entered into strategic business collaboration with Wonik Corporation, a South Korean healthcare company. Wonik will sell and distribute Neutrolin for hemodialysis patients upon receipt of regulatory approval in Korea.

CRMD closed Thursday's trading at $1.94, up 3.19%. In after-hours, the stock gained more than 8% to $2.10.

Interphase Corp. (INPH) entered into a common stock purchase agreement and registration rights agreement with Hodges Small Cap Fund on August 13, 2014, to sell in a non-brokered private placement 1,367,000 shares of its common stock at a price of $2.45 per share. The private placement resulted in gross proceeds to the company of approximately $3.3 million.

INPH closed Thursday's trading at $3.21, up 45.91%.

Ligand Pharmaceuticals Inc. (LGND) has signed a commercial license agreement with Avion Pharmaceuticals LLC for the development and commercialization of four Captisol-enabled programs.

The agreement entitles Ligand to receive an up-front payment, as well as revenue from Captisol material sales, potential milestone payments, and royalties on future net sales of the products containing Captisol.

LGND closed Thursday's trading at $54.98, up 0.16%. In after-hours, the stock rose another 2.29% to $56.24.

Syneron Medical Ltd. (ELOS) has launched its FDA-cleared, proprietary handpiece featuring a new 5-millimeter spot size for the Gentle Pro Nd:YAG Laser Series to treat onychomycosis (nail fungus).

The Gentle Pro Nd:YAG Laser Series is already used for hair removal and for the treatment of vascular and pigmented lesions.

ELOS closed Thursday's trading 1.71% higher at $10.12.

Supernus Pharmaceuticals Inc.'s (SUPN) product candidate SPN-810 has been granted fast track designation by the FDA for the treatment of impulsive aggression in attention deficit hyperactivity disorder (ADHD).

SPN-810 is expected to enter phase III testing, with patient dosing commencing during 2015.

SUPN closed Thursday's trading at $9.30, down 0.96%.