PALM BEACH, Florida, July 18, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
BigPharma and pioneering Biotech firms are forging ahead with Clinical Trials for identifying advanced therapies and treatments as a result of cancer having a major and continued impact on society in the United States and
Moleculin Biotech, Inc. (NASDAQ:MBRX) BREAKING NEWS: Moleculin Biotech, a a clinical stage pharmaceutical company focused on the development of oncology drug candidates, all of which are based on license agreements with The University of Texas System on behalf of the M.D. Anderson Cancer Center, today announced it has begun preclinical toxicology testing of its WP1732, a fully water-soluble STAT3 inhibitor through its new subsidiary in Australia.
"Based on preclinical testing, we believe the discovery of WP1732, a fully water-soluble STAT3 inhibitor, has the potential to be a breakthrough discovery for rare and difficult to treat cancers. As a result of our preclinical testing, we have received multiple requests to commence clinical trials and we are pleased to be taking the next steps in preparing for the appropriate clinical work," commented Walter Klemp, Chairman and CEO of Moleculin. " By utilizing our subsidiary in Australia and the attractive R&D tax credits it offers, we can accelerate the preclinical work of WP1732 and maintain a strong cash balance. We believe this will allow us to complete our IND-enabling work and meet FDA submission requirements before year-end while also reducing our total cost of development." Read this and more news for Moleculin Biotech at: http://www.marketnewsupdates.com/news/mbrx.html
In other pharma and biotech developments in the markets of note this week:
Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced financial results for the fourth quarter and fiscal year (FY) 2018 ended April 30, 2018, and provided an update on its contract manufacturing operations, and other corporate highlights. "During fiscal 2018, Avid Bioservices initiated a transition to a pure play biologics contract development and manufacturing organization. Today, Avid is a recognized, established and well-respected service provider to the biotechnology and pharmaceutical industry," said Roger Lias, Ph.D., president and chief executive officer of Avid Bioservices. "In recent months we have significantly diversified and expanded our portfolio of customers. This effort has also fostered a steady increase in our backlog, which creates a strong foundation as we diligently pursue our goal to achieve breakeven and positive EBITDA. We have brought in an impressive new board and established a cohesive new leadership team with expertise spanning every vital facet of our business from business development to process development and finance. Read more here
OPKO Health, Inc. (NASDAQ:OPK) announced this week that the Company's partner Vifor Fresenius Medical Care Renal Pharma (VFMCRP) has received approval from Health Canada to market RAYALDEE® in Canada for the treatment of secondary hyperparathyroidism (SHPT) in adults with stage 3 or 4 chronic kidney disease (CKD) and vitamin D insufficiency. "We established a global development and commercialization plan for RAYALDEE as this therapy addresses an important medical need in CKD patients worldwide, and we want to ensure that as many people as possible have access to its benefits," stated Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO Health. "We congratulate our partner Vifor Fresenius on their achievement and thank them for the dedication and hard work they put into reaching this milestone event."
Abbott Laboratories (NYSE:ABT) recently announced it received approval from the U.S. Food and Drug Administration (FDA) for a next-generation version of its leading MitraClip® heart valve repair device used to repair a leaky mitral valve without open-heart surgery. The transcatheter clip-based therapy, now on a third generation of product innovations, has been used to treat more than 65,000 patients worldwide over the last ten years. The next-generation MitraClip system provides cardiologists with advanced steering, navigation, and positioning capabilities for the clip, making it easier to use in difficult anatomies. The enhanced system is designed to allow for more precise placement during deployment, resulting in more predictable procedures, and additionally offers a second clip size with longer arms that expands the reach of the clip-based device.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) recently announced FDA approval of a new capsule dose formulation and a new tablet strength of NUPLAZID (pimavanserin) to help in the treatment of patients living with hallucinations and delusions associated with Parkinson's disease psychosis. The FDA approval of a 34 mg NUPLAZID capsule formulation will provide patients with the recommended 34 mg once daily dose in a single, small capsule, reducing patient pill burden versus the current administration of two 17 mg tablets. In addition, the FDA approval of a 10 mg tablet provides an optimized lower dosage strength in those patients who are concomitantly receiving strong cytochrome 3A4 inhibitors which can inhibit the metabolism of NUPLAZID.
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