Today’s Daily Dose brings you news Celsion’s decision to end dual listing; MiMedx’s progress with AmnioFix Injectable; AquaBounty’s improving Q2 financial results; tentative approval from FDA for Perrigo’s generic version of rosacea treatment Mirvaso and Mallinckrodt’s acquisition of privately-held InfaCare.
Shares of AquaBounty Technologies Inc. (AQB) were up more than 13% on Friday, following its Q2, 2017 financial results.
The second quarter marked two milestone events for AquaBounty – the purchase of its first commercial farm site for the production of its eco-friendly AquAdvantage Salmon in the United States, and the very first sales of AquAdvantage Salmon.
Net loss for the recent second quarter was relatively flat at $2.1 million compared to the corresponding period of the previous year. On a per share basis, the net loss for Q2, 2017 narrowed to $0.24 from $0.39 in the year-ago period.
The Company recognized $53 thousand of revenue on sales of AquAdvantage Salmon fillets in Q2, 2017 compared to nil revenue in the year-ago quarter.
AQB closed Friday’s trading at $7.58, up 13.47%.
Celsion Corp. (CLSN) is delisting its shares from the Tel Aviv Stock Exchange in order to be subject to one set of listing regulations instead of two; to allow greater flexibility to execute its business and financing strategy, and to reduce cost of operations.
The Company’s shares were approved for trading on the Tel Aviv Stock Exchange on November 12, 2015.
However, Celsion shares will continue to trade on the NASDAQ Capital Market.
CLSN closed Friday’s trading at $1.55, down 2.52%.
Mallinckrodt plc (MNK) has agreed to acquire privately-held InfaCare Pharmaceutical Corp. for an upfront payment of $80 million, with additional payments of up to $345 million dependent on regulatory and sales milestones.
InfaCare’s proprietary therapy Stannsoporfin is in late-stage development for the treatment of newborns at risk of developing severe jaundice.
The rolling NDA submission of Stannsoporfin is underway under FDA’s Fast Track status. If approved, Stannsoporfin is expected to become the first and only pharmacologic option or therapeutic option for treatment of neonates at risk for developing severe jaundice, in the U.S.
Mallinckrodt expects the acquisition to be dilutive to adjusted diluted earnings per share by $0.15 to $0.20 for 2017 and modestly higher in 2018.
The transaction is expected to close in the second half of 2017.
MNK closed Friday’s trading at $41.02, down…