CORAL SPRINGS, Florida, October 26, 2016 /PRNewswire/ --
Biotech and Pharma stocks experienced somewhat of a sell off to begin the year as individuals in the sector sought the security of less risky, profitable investments. While some investors felt disappointed, it's also created quite the opportunity to take a hard look at innovative and developing drug stocks staying the course with advanced studies and clinical trials for the newest therapies and treatments. Active biotech/pharma companies in the market include: ContraVir Pharmaceuticals, Inc. (NASDAQ: CTRV), Moleculin Biotech, Inc., (NASDAQ: MBRX), Mylan N.V. (NASDAQ: MYL), Valeant Pharmaceuticals International, Inc. (NYSE: VRX) and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA).
Moleculin Biotech, Inc. (NASDAQ: MBRX), a preclinical and clinical-stage pharmaceutical company focused on the development of anti-cancer drug candidates, some of which are based on license agreements with The University of Texas System on behalf of the M.D. Anderson Cancer Center, today announced promising initial results of the preclinical toxicology work that has begun for WP1122, a unique inhibitor of glucose metabolism, which is an important driver of glycolytic brain tumor progression and survival.
Read the full Moleculin Biotech Press Release and latest news at: http://financialnewsmedia.com/profiles/mbrx.html
Moleculin indicated that preliminary escalating single dose toxicity testing in mice (oral administration) was successfully completed and even at the highest possible dose, no toxic death was observed. In multiple therapeutic doses, WP1122 was well tolerated during intense twice-daily oral dosing. The Company plans to move forward with completing the preclinical toxicology package in order to generate proof of concept in humans.
Moleculin's Chairman and CEO, Walter Klemp, commented, "as the newest of our technologies, we are pleased to see development work move to the next level. WP1122 has received significant attention from the scientific community as a promising new approach to treating brain tumors. Part of the excitement relates to the unusual nature of WP1122 and its design allowing for high brain uptake and retention. The design uses an alteration similar to that which turns morphine into heroine and enables rapid brain uptake. A similar alteration to our drug allows it to successfully enter the brain in high quantities and increases its circulation time."
In other biotechnology/pharma developments and happenings in markets:
ContraVir Pharmaceuticals, Inc. (NASDAQ: CTRV), a biopharmaceutical company focused on the development and commercialization of targeted antiviral therapies, announced last week that following a positive recommendation from an independent Data Safety Monitoring Board (DSMB), the company has begun enrolling the next dosing group in its head-to-head Phase 2a dose-escalation study comparing the safety and efficacy of ContraVir's CMX157 to tenofovir disoproxil fumarate (TDF, marketed by Gilead Sciences as Viread®) in patients with chronic hepatitis B (HBV). ContraVir expects to complete the remaining two escalation cohorts and report top-line results by year-end 2016.
Mylan N.V. (NASDAQ: MYL) and Theravance Biopharma, Inc. recently announced positive results from two replicate Phase 3 efficacy studies of revefenacin (TD-4208), an investigational long-acting muscarinic antagonist (LAMA) and the first once-daily, nebulized bronchodilator in development for the treatment of chronic obstructive pulmonary disease (COPD). Top-line results across more than 1,250 moderate to very severe COPD patients confirmed that both Phase 3 studies met their primary efficacy endpoint, demonstrating statistically significant improvements over placebo in trough forced expiratory volume in one second (FEV1) after 12 weeks of dosing for each of the revefenacin doses studied (88 mcg once daily and 175 mcg once daily).
Valeant Pharmaceuticals International, Inc. (NYSE: VRX) closed up slightly on Tuesday at $22.05 trading over 14.4 Million shares by the market close. Valeant recently announced that it plans to release third quarter 2016 financial results on Tuesday, November 8, 2016 , prior to the conference call and live webcast at 8:00 a.m. ET , when the Company will discuss the results.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) last week announced that the U.S. Food and Drug Administration (FDA) has accepted the resubmission of the New Drug Application (NDA) for SD-809 (deutetrabenazine) for the treatment of chorea associated with Huntington disease (HD). The FDA has assigned a Prescription Drug User Fee Act (PDUFA) goal date of April 3, 2017.
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