After two stinging rejections sent it back to the lab, Anika Therapeutics has secured the FDA's blessing for an osteoarthritis pain injection, propelling the biotech's shares up more than 40%.
The head of the pharma division, Stefan Oschmann, tells the Financial Times that the Darmstadt-based drug developer is looking to stretch its $1.5 billion annual research budget with some additional cost-sharing deals that might include private equity groups as well as other industry partners.
Shares of Nektar Therapeutics took a nasty plunge Thursday evening after the biotech failed to convince investors that the Phase II flop of a top pain drug didn't tarnish the program's promise.
Imprimis Pharmaceuticals took two major steps this week, gaining approval to begin Phase III clinical trials for its lead osteoarthritis topical cream candidate and getting hold of a novel transdermal treatment for wound management.
New Enterprise Associates (NEA) has dipped into its ample coffers to provide Cartiva with $4.3 million. The capital infusion backs the startup's ongoing clinical trial of a cartilage replacement implant in patients with osteoarthritis.
Flexion Therapeutics' FX006, a sustained-release formulation of the steroid triamcinolone, has been able to deliver drug to the knee joint in people with osteoarthritis for 6 weeks or more.
Instead of taking assets to proof-of-concept in a fast march through the clinic and then striking deals for their programs, as originally planned, Flexion's top execs have seized on the success of their clinical-stage osteoarthritis drugs and plan to stay focused on their pipeline--pursuing late-stage work, perhaps all the way through Phase III.
Array BioPharma touted its latest mid-stage study of a key pain drug as an unqualified success, beating a placebo and hitting its primary endpoint when tested in patients suffering from osteoarthritis. But when investors dug down into the release and found that its experimental med did no better than a standard treatment, its shares slid more than 11%.
Total hip and total knee replacement surgeries may be a boon to patients with osteoarthritis, restoring mobility and greatly reducing pain. But within the first two weeks after the surgical procedures are performed, these patients face a greater risk of heart attack, according to a new study in the Netherlands evaluating data from thousands of Danish patients.
This morning, Flexion announced that they hit the proof-of-concept stage as planned. Top-line results demonstrated that the intra-articularly delivered FX005 hit its primary endpoint on pain relief and function among osteoarthritis patients.