| Biotech Gets Busy With Small Company Financings The Burrill Report submits: By Marie Daghlian In a busy week for IPOs, three life sciences companies got their deals done even though they had to price at the bottom or below their target range. [See IPO story.] Codexis raised $78 million through the sale of 6 million shares at $13 a share and began trading on the Nasdaq market on Thursday under the symbol CDXS. Although the company priced at the low end of its range, shares ended the week at $14, 8 percent above their initial offering price. The Redwood City, California-based biotech develops biocatalysts used in the production of pharmaceuticals and renewable fuels and chemicals. Burill & Company, the publisher of The Burrill Report, is an investor in Codexis. Complete Story » seekingalpha.com |
Clarient, Generation Health Sign Agreement to Provide, Manage Genetic Testing (PR Newswire) Clarient, Inc. , a premier technology and services resource for pathologists, oncologists and the pharmaceutical industry, today announced a new contractual agreement with Generation Health, Inc. . Â This agreement makes Clarient a preferred genetic testing lab for GH, thereby ensuring reimbursement of diagnostic tests done for GH's nationwide network of payor clients and expanding Clarient's potential market. us.rd.yahoo.com |
NeoGenomics Provides Early Look at Second Quarter Results (PR Newswire) NeoGenomics, Inc. announced today that it expects to report second quarter revenue of approximately $8.5 million and a net loss of approximately – per share.  Revenues and test volumes increased by approximately 14% and 28%, respectively, compared to last year's second quarter.  These comparisons are impacted by the previously disclosed internalization of certain bladder cancer FISH testing by the Company's largest customer beginning in June 2009.  Excluding this one account, revenues and test volumes grew by approximately 23% and 39%, respectively, versus last year.  Revenue growth in the second quarter was also adversely impacted by further declines in average unit pricing, expanded efforts by large insurance companies to reduce testing and payments to "out-of-network" laboratories, and the overall challenging economy and its corresponding impact on sales force productivity. us.rd.yahoo.com |
Interview: Cleveland BioLabs CEO Discusses Recent Developments, Milestones Ahead M.E. Garza submits: We are hearing some very loud and credible chatter that long-awaited good news may be coming for Cleveland BioLabs (CBLI), the company that engages in the discovery, development, and commercialization of products for human protection from radiation.In the first quarter of this year, the company submitted additional paperwork about Protectan CBLB502 (a radioprotectant molecule with multiple medical and defense applications for reducing injury from acute stresses, such as radiation and chemotherapy) to a potential customer - the U.S. Government's Department of Defense. Many on Wall Street believe that the company has the best chance of not only getting significant funding from the DoD, but also a potentially bigger order from the Biomedical Advanced Research and Development Authority (BARDA) who would acquire doses of the drug for the Strategic National Stockpile.Complete Story » seekingalpha.com |
Abbott Labs to Cut 3,000 Jobs Abbott Labs said it would cut about 3,000 jobs, or roughly 3% of its global work force, in an effort to wring savings from its recent acquisition of Solvay's pharmaceutical unit. online.wsj.com |