Canadian Technology Stocks and Startups
Today BioMarin (NASDAQ:BRMN) announced it had sold its FDA priority review voucher to Regeneron (NASDAQ:REGN) for US$67.5 million. Regeneron and its partner Sanofi plan to share the cost of the voucher and use it for their Biologics License Application (BLA) submission for their dyslipidemia product, alirocumab. The voucher grants the holder an expedited-review with FDA, [...]
Shares of Bioniche Life Sciences (TSX:BNC) have surged since the company a few weeks ago announced that the FDA agreed to accept a Biological License Application (BLA) for the potential approval of their immunotherapy product Urocidin. Today, the company announced it is making an orphan drug application for Urocidin with FDA, a move to gain [...]
Valeant Pharmaceuticals’ (TSX:VRX) upcoming Q2 may be the first of a number of quarters that show that the company’s acquisition-focused growth strategy is strong and sustainable, says Paradigm Capital analyst Alan Ridgeway. On Thursday, Valeant will report its Q2, 2014 results. The company is following up on a Q1 in which it posted a topline [...]
By finding new uses for existing drugs, Revive Therapeutics (TSXV:RVV) is well positioned in a pharmaceutical industry that is facing a “significant patent cliff”, says Beacon Securities analyst Doug Cooper. In a research report to clients Monday, Cooper initiated coverage of Revive Therapeutics with a “Buy” rating and a one-year price target of $2.00, which [...]
Xagenic Canada Inc., a Toronto-based developer of diagnostic technology, has topped up a Series B round of funding to a total of $25.5 million. The new partner in this round is BDC Capital, a subsidiary of the Business Development Bank of Canada, a senior managing partner from which will be joining Xagenic’s board of directors. [...]
M&A is quite common in the life sciences and generally driven by product or pipeline synergies between two companies. Of late, however, the added benefit of moving from a high-taxation country, like the U.S., to a lower-taxation jurisdiction, like Ireland, has ignited a flurry of M&A activity in the sector. This strategy, known as tax [...]
Shares of Vancouver-based QLT Inc. (TSX:QLT) are up today after announcing it had signed a definitive agreement to merge with specialty biopharma Auxilium. The new company will assume Auxilium’s headquarters in Pennsylvania. Although QLT will delist from the TSX, it will remain incorporated in British Columbia and will be renamed “New Auxilium”. QLT Chairman Jason [...]
Shares of Merus Labs (TSX:MSL) are up today after the company announced that its current bought deal would be upped to $27.2-million, instead of the previously announced $22.1-million. Yesterday, Merus announced that a syndicate of dealers co-led by Canaccord Genuity, Clarus and Cormark would buy purchase 13-million shares from the treasury of the company, at [...]
Shares of recent high-flier Merus Labs (TSX:MSL) are off today after learning that competition is looking to enter a market that represents an increasing portion of its topline. Merus says it has learned that Toronto-based pharma Apotex has filed with Health Canada an abbreviated new drug submission seeking market approval for a generic version of [...]
Shares of Adherex Technologies (TSX:AHX) are up more than 17% today after a study revealed its Sodium Thiosulfate (STS) was effective in preventing hearing loss in children who undergo platinum-based chemotherapy. Adherex today released the results on the two of its sodium thiosulphate phase III studies presented at the 2014 American Society of Clinical Oncology [...]