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TRACON Pharmaceuticals ($TCON) suffered a setback as the company announced the results from a Phase 2 clinical trial assessing lead product candidate TRC105 in recurrent glioblastoma. The study evaluated the effect on three-month progression-free survival (PFS) of TRC105 combined with Roche's Avastin (bevacizumab) compared to the expected value of 3.45 months for Avastin alone.
Top-line results showed that the addition of TRC105 failed to significantly improve PFS, although there was a numerical but non-significant increase in overall survival. The company stock lost over 1 percent of its value this year so far while it declined 30 percent in the past 12 months.

Amarin Corporation ($AMRN) recently announced its plans to carry out extensive debt restructuring. The company and its wholly owned subsidiary, Corsicanto II Designated Activity Company inked separate, privately negotiated purchase agreements with certain investors. The agreements provided for the Corsicanto to will issue and sell $30.0 million in aggregate principal amount of 3.50% Exchangeable Senior Notes due 2047.
The company expects to generate $28.9 million in proceeds after deducting placement agent fees and estimated offering expenses payable by Amarin. The company will use a part of the proceeds to replenish approximately $15.0 million of cash on hand that Amarin used to purchase substantially all of the 2012 Notes. The company stock has shown good performance as it gained over 10 percent this year so far.

 

• Novogen Limited ($NVGN) announced that it has been awarded a three-year grant of up to $3 million by the Australian Department of Industry Innovation and Science (DIIS) under its Cooperative Research Centre Project scheme. The funds will be used for supporting the development of next-generation anti-tropomyosin cancer therapies.
• MediWound ($MDWD) reported that the results from a 36-subject Phase 2 study in Europe, India and Israel of its NexoBrid in hospitalized children and adults with severe thermal burns (4 - 30% of total body surface area) showed the treatment to be safe and effective and no accumulation concern with a second topical application. NexoBrid, the company's proprietary pharmaceutical product for the enzymatic removal of eschar in patients with deep-partial and full-thickness thermal burns.

• RepliCel Life Sciences ($REPCF) reported that it has been granted two patents in Europe covering RCI-02, its nearest-term commercial asset. The device is designed to improve the level of control and precision for intradermal, subcutaneous and intramuscular injections. The company said that it is particularly well-suited for injecting cellular products, fillers, hyaluronic acids, fat and collagen.

 
• Neurocrine Biosciences ($NBIX) inked a new deal with Trofa, Portugal-based BIAL for the North America rights to ONGENTYS (opicapone), an adjunct therapy for the treatment of Parkinson's disease. The treatment was approved in Europe in June of last year. The terms of the deal hold Neurocrine responsible for development and commercialization in the U.S. and Canada. BIAL will receive an upfront payment of $30M, up to $115M in milestones and royalties on net sales.
• Biocept ($BIOC) announced that it has entered into a group purchasing agreement with an unnamed national health plan association that establishes pricing for its liquid biopsy tests for member plans. The deal will help the company to strike in-network agreements with members throughout the network.

 
• Organovo Holdings Inc. ($ONVO) announced its third quarter results. The company’s net loss for the quarter was was $9.6 million, or $0.09 per share, for the fiscal third quarter of 2017, as compared to $10.5 million, or $0.11 per share, for the fiscal third quarter of 2016. The company reported fiscal third-quarter total revenue of $1.2 million, up 251 percent versus the comparable period of fiscal 2016. Cost of revenues stood at $0.2 million, showing the Company’s expenses related to manufacturing and delivering its product and service revenues.
• Taro Pharmaceuticals Industries Ltd. ($TARO) announced the results for quarter ended December 31, 2016. The company’s net sales stood at $220.4 million, down $37.9 million, or 14.7%, due to continuing increased competition and the challenging pricing environment. The Overall sales volumes increased 1%. The company reported the gross profit of $167.3 million decreased $46.8 million, and as a percentage of net sales, was 75.9% compared to 82.9%.

• Zoetis ($ZTS) receives Buy rating from BMO Capital. The price target for the stock has been set at $60.
• AngioDynamics ($ANGO) receives Equalweight rating from Barclays. The price target for the stock has been set at $17.

Gainers (% price change)Last TradeChangeMkt CapAcorda Therapeutics IncACOR24.65+4.25 (20.83%)1.09BOraSure Tech., Inc.OSUR10.49+1.64 (18.53%)586.60MArray Biopharma IncARRY12.56+1.86 (17.38%)2.12BAlnylam PharmaceuticalsALNY44.96+4.33 (10.66%)3.87BOmeros CorporationOMER11.30+0.86 (8.24%)492.02MLosers (% price change)The Ensign Group, Inc.ENSG17.47-2.53 (-12.65%)862.15MRockwell Medical IncRMTI5.84-0.35 (-5.65%)305.36MFluidigm CorporationFLDM6.04-0.18 (-2.89%)178.17MMyriad Genetics, Inc.MYGN16.14-0.38 (-2.30%)1.18BTaro PharmaceuticalTARO106.12-2.18 (-2.01%)4.47BMost Actives (dollar volume)Gilead Sciences, Inc.GILD65.59-1.24 (-1.86%)78.97BPfizer Inc.PFE32.38+0.24 (0.75%)196.86BAmgen, Inc.AMGN167.47-0.65 (-0.39%)125.56BJohnson & JohnsonJNJ114.08+0.68 (0.60%)310.14BRegeneron PharmaceuticalsREGN360.00+6.75 (1.91%)37.50B