GALT Faces Big Test Today, ABBV Clears Psoriasis Trial, DEPO Cuts 40% Of Staff

Today’s Daily Dose brings you news about an important announcement to be made by Galectin; Ironwood Pharma’s phase II study results of IW-1973 in patients with type 2 diabetes and hypertension; Depomed’s NUCYNTA deal and restructuring; Heron’s public offering; AbbVie’s psoriasis study results and Zogenix’s Dravet syndrome trial results.

Read on…

AbbVie’s (ABBV) fourth pivotal phase III clinical trial evaluating drug candidate Risankizumab (150 mg) for the treatment of patients with moderate to severe plaque psoriasis has met all co-primary and ranked secondary endpoints.

In the study, dubbed IMMhance, nearly half (47 percent) of Risankizumab patients achieved complete skin clearance compared to 1% in placebo arm at week 161. Among Risankizumab patients who achieved clear or almost clear skin at week 28, 87% percent maintained this response at one year (week 52).

Top-line results of the other three pivotal phase III trials of Risankizumab in psoriasis were previously announced in October 2017.

ABBV closed Monday’s trading at $95.22, down 1.12%.

Biostar Pharmaceuticals Inc. (BSPM) has regained compliance with NASDAQ’s continued listing requirement.

The Company was put on notice by the NASDAQ in August for not filing its Quarterly Report on Form 10-Q for the fiscal year ended June 30, 2017. Biostar filed the Quarterly Report on November 15, 2017.

BSPM closed Monday’s trading at $1.75, down 3.31%.

Depomed Inc (DEPO) has entered into a definitive Commercialization Agreement with Collegium Pharmaceutical Inc. (COLL) for its oral analgesic NUCYNTA, and has decided to relocate its headquarters and implement a restructuring.

In the first nine months of 2017, Nucynta franchise brought in product sales of $183.3 million for Depomed compared to $206.5 million in the year-ago period.

Under the terms of the agreement, Collegium will commercialize both NUCYNTA Extended Release and NUCYNTA Immediate Release, and Depomed will receive a royalty rate on all NUCYNTA revenues based on certain net sales thresholds.

As long as the agreement is in force, for the first four years, Depomed will receive a minimum royalty of $135 million per year, and the royalty rate will be adjusted after the patent on NUCYNTA expires, which may not occur until at least late 2025.

With regard to relocation, Depomed is planning to move from Newark, California sometime in mid-2018 and is currently evaluating potential Midwest and East Coast locations.

In line with this relocation, the Company will trim…

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