PALM BEACH, Florida, November 17, 2016 /PRNewswire/ --
Biotech industry professionals have suggested that a significant part of the biotech rally of late may be a direct result of Trump's victory with a vague promise to reform the FDA and "put greater focus on the need of patients for new and innovative medical products." Biotech stocks with current and recent achievements in the markets include: Cellectar Biosciences, Inc. (NASDAQ: CLRB), Array BioPharma Inc. (NASDAQ: ARRY), Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH), Amarin Corporation plc (NASDAQ: AMRN) and Abbott Laboratories (NYSE: ABT).
Cellectar Biosciences, Inc. (NASDAQ: CLRB), an oncology-focused, clinical stage biotechnology company, today announces that following the successful conjugation of multiple, natural product cytotoxic molecules developed by Pierre Fabre to Cellectar's PDC delivery platform, it has initiated in vivo studies for a variety of solid tumors. Harnessing a selection of linkers to attach the cytotoxic molecules to the PDC platform, the company has constructed a series of novel compounds specifically designed for improved tumor targeting. This research collaboration falls under the company's CLR CTX programs, geared to convert non-targeted cytotoxic agents into targeted cancer treatments when combined with Cellectar's proprietary delivery system. The drug's targeting enhancement is designed to further improve efficacy and reduce adverse events.
Read the full Cellectar Biosciences (CLRB) Press Release at: http://marketnewsupdates.com/news/clrb.html
As part of the Pierre Fabre research collaboration, Cellectar has already completed a series of in vitro studies with the newly created compounds, and is currently compiling early efficacy data. Cellectar will then initiate additional in vitro and in vivo studies in melanoma, lung, and colon cancers, as well as in additional solid tumors.
"We are excited by the rapid advancement of these programs and look forward to sharing data from our development work with Pierre Fabre," said Jim Caruso, president and CEO of Cellectar Biosciences. "This partnership is an excellent example of the power of our business model, a cost-efficient system with the potential to generate high-yielding assets. In parallel, we continue to make significant progress on our lead radiotherapeutic PDC, CLR 131 for the treatment of relapsed/refractory multiple myeloma, including our ongoing Phase I and our impending NCI-supported Phase II clinical trial in selected hematologic malignancies."
In other Biotech market performances and developments of note:
Array BioPharma Inc. (NASDAQ: ARRY) closed up slightly on Wednesday closing at $7 trading over 5.42 Million shares by the market close. Array BioPharma retains exclusive rights to binimetinib and encorafenib in the U.S., Japan, Canada, Korea and Israel which was recently reported Binimetinib plus encorafenib meets primary endpoint with statistically significant advantage on median PFS of 14.9 months versus 7.3 months for vemurafenib monotherapy. Read more at http://finance.yahoo.com/news/columbus-phase-3-study-results-160000344.html
Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH), a clinical stage biopharmaceutical company focused on the global immunology market, on Wednesday highlighted additional findings from its global Phase IIb AURA study of voclosporin in the treatment of lupus nephritis (LN). The abstract was presented at the American College of Rheumatology and Association of Rheumatology Health Professionals (ACR/ARHP) Annual Meeting in Washington, D.C. during the Late-Breaking News session on November 15, 2016.
Amarin Corporation plc (NASDAQ: AMRN) closed up at $3.45 on Wednesday trading over 4.38 Million shares traded by the market close. AMRN this week announced an oral presentation that was held at the American Heart Association Scientific Sessions 2016, New Orleans on November 14, 2016 that further characterized the efficacy and safety of Vascepa® (icosapent ethyl) in statin-treated women with persistent high triglyceride levels.
Abbott Laboratories (NYSE: ABT) closed up 14 cents at $39.95 on Wednesday trading over 8.8 Million shares traded by the market close. ABT announced this month that the Ministry of Health, Labor and Welfare (MHLW) in Japan has approved the company's Absorb bioresorbable heart stent, making the first-of-its-kind medical device commercially available to treat people in Japan with coronary artery disease. Absorb is the only fully dissolving heart stent approved in Japan for the treatment of heart disease, one of the leading causes of death in Japan and worldwide. An estimated 1.73 million people in Japan (population:127 million) have heart disease, and approximately 71.7 thousand people die each year from coronary artery disease, making it the secondary leading cause of death in the country annually. Worldwide, more than 7.4 million people die of heart disease each year.
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