| Did Transgene Jump the Gun With Novartis? EP Vantage submits: The positive effect of Dendreon’s (DNDN) breakthrough approval for prostate cancer vaccine Provenge continues to permeate the field. While the likes of Bavarian Nordic claiming partnering interest in their candidate, Prostvac, has significantly increased since the FDA approved Provenge ten days ago, Transgene (TRGNF.PK) Monday launched a rights issue to raise a massive €152m ($196m) mainly to fund a phase IIb/III study of its lung cancer vaccine, TG 4010.The offer of 3 new shares for 7 existing shares at €16 per share means Transgene is aiming for the top end of its own expectations announced in March. At $196m, the transaction is by far the biggest European equity financing round this year and likely to be one of the largest globally in 2010 overall (see table below). Although Transgene’s shareholders appear likely to bite the bullet and place a long term bet on TG 4010, will they be left wondering whether quite so much cash would have been required had the company waited until after Provenge approval to sign its underwhelming deal with Novartis (NVS)?Complete Story » seekingalpha.com |
Merck to Close 16 Facilities Merck plans to close 16 facilities world-wide as part of its integration of Schering-Plough that will entail a 15% reduction in jobs. online.wsj.com |
Dyax Corp. Q2 2010 Earnings Call Transcript Dyax Corp. (DYAX)Q2 2010 Earnings Conference Call July 28, 2010 10:00 am ETComplete Story » seekingalpha.com |
Insurers Move to Drop Child Policies A move by insurance companies to stop selling child-only policies is drawing criticism ahead of Thursday, when the federal health overhaul will require insurers to cover sick children. online.wsj.com |
Spherix Announces Closing of Institutional Investors Purchase of $5.25 Million of Convertible Preferred Stock and Warrants [PR Newswire] - Spherix Incorporated , an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis; and providers of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies, today announced the close of previously reported agreements to sell $5.25 million of shares of its Series B Convertible Preferred Stock and warrants to purchase shares of its common stock in a registered offering to institutional investors. us.rd.yahoo.com |