BioTech Companies in the News - Alliqua, Transition Therapeutics, Organovo, MiMedx Group, Keryx Biopharmaceuticals
CORAL SPRINGS, Florida, July 18, 2013 /PRNewswire/ --
FinancialNewsMedia.com issues market news updates for today's active biotech companies: Alliqua, Inc. (OTCQB: ALQA), Transition Therapeutics Inc. (NASDAQ: TTHI), Organovo Holdings, Inc. (NYSE: ONVO), MiMedx Group, Inc. (NASDAQ: MDXG), Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX)
Alliqua, Inc. (OTCQB: ALQA) Headline: Alliqua's SilverSeal Dressing Shown to Improve Surgical Wound Outcomes in Clinical Study. ALQA today announced the results from a post-marketing study to assess surgical wound outcomes in patients who have undergone foot and ankle surgery. In this study, Alliqua's SilverSeal® dressing was shown to have a lower incidence of incision complications, including infection, and a greater reduction in scar length compared to standard petroleum-based dressing. Study results are being presented at the annual meeting of the American Orthopaedic Foot & Ankle Society, which is being held in Hollywood, Florida July 17-20. Stephen A. Brigido, DPM, director of the foot and ankle fellowship at the Coordinated Health Foot and Ankle Center and a primary investigator in the study, stated, "The results from this study are consistent with our preliminary findings reported earlier this year and indicate SilverSeal has potential to not only improve post-surgical incision healing but to reduce healthcare expenditures related to incision complications." To read the entire press release, please go to http://www.financialnewsmedia.com/stock-investing-business-investing-news/featured-news.php?id=287
FNM Market News: Wound Dressing Industry is Expected to Reach USD 6,012.4 Million Globally in 2017: Transparency Market Research - According to a new market report published by Transparency Market Research (http://www.transparencymarketresearch.com) "Wound Dressing Market - Global Scenario, Trends, Industry Analysis, Size, Share & Forecast 2011 - 2017," the global wound dressing market was worth USD 4,410.5 million in 2011 and is expected to reach USD 6,012.4 million in 2017, growing at a CAGR of 5.3% from 2011 to 2017. In the overall global market, the U.S. is expected to maintain its lead position in terms of revenue till 2017. The U.S. is expected to enjoy 34.6% of global wound dressing market revenue share in 2017 followed by Europe. Browse the full report at http://www.transparencymarketresearch.com/wound-dressing-market.html
Transition Therapeutics Inc. (TTHI) announced that the US Food and Drug Administration (FDA) has granted Fast Track Designation to the development program for ELND005 which was submitted for the treatment of Neuropsychiatric Symptoms (NPS) in Alzheimer's disease (AD). The FDA concluded that the development program for ELND005 for the treatment of NPS in AD meets their criteria for Fast Track Designation. Transition's licensing partner, Elan Corporation, plc ("Elan"), is responsible for all development and commercialization activities and costs of ELND005.
Organovo Holdings, Inc. (ONVO) develops three-dimensional (3D) bioprinting technology for creating functional human tissues on demand for research and medical applications. The company's 3D NovoGen bioprinting technology works across various tissue and cell types, and allows for the placement of cells in desired patterns. Organovo rang the opening bell on the New York Stock Exchange (NYSE) this week as ONVO shares began trading on the NYSE on Thursday, July 11, 2013, after qualifying as an NYSE MKT listing company. "Organovo is proud to ring the opening bell on behalf of our employees, investors and all of our supporters, in recognition of our recent uplisting to the New York Stock Exchange. This milestone is another important step forward for the company in our mission to advance the impact of 3D bioprinting in changing the shape of medical research and practice," said Keith Murphy, president and chief executive officer of Organovo Holdings, Inc. "We found NYSE to have made an unparalleled commitment to providing a fertile platform for growth to early stage biotechnology companies, and we look forward to a great future on the exchange."
MiMedx Group, Inc. (MDXG), an integrated developer, manufacturer and marketer of patent protected regenerative biomaterials and bioimplants processed from human amniotic membrane, announced this week that the Company will slightly exceed the $13.5 million high end of its previously communicated revenue range for the second quarter of 2013. The Company's second quarter of 2013 revenue represents an increase of greater than 175% over second quarter of 2012 revenue, and for the six months ended June 30, 2013, MiMedx revenue increased by more than 190% over its revenue for the first six months of 2012. The Company reported that the second quarter of 2013 marks the 7th consecutive quarter in which MiMedx has met or exceeded its revenue guidance.
Keryx Biopharmaceuticals, Inc. (KERX), a biopharmaceutical company, focuses on the acquisition, development, and commercialization of pharmaceutical products for the treatment of renal disease in the United States. It is developing Zerenex (ferric citrate), an oral, ferric iron-based compound that has the capacity to bind to phosphate in the gastrointestinal tract and form non-absorbable complexes. The company has completed a Phase III clinical program for Zerenex for the treatment of hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease on dialysis. KERX closed up 3.15% on Wednesday on over 2.6Mil shares traded.
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