Shares of Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) ended Tuesday session in red amid volatile trading. The shares closed down -0.28 points or -3.88% at $6.94 with 653,699.00 shares getting traded. Post opening the session at $7.12, the shares hit an intraday low of $6.87 and an intraday high of $7.20 and the price vacillated in this range throughout the day. The company has a market cap of $425.14 million and the numbers of outstanding shares have been calculated to be 60.75 million shares.
Arrowhead Pharmaceuticals Inc (ARWR) on September 7, 2016 announced that it has dosed the first patient in the multiple ascending dose (MAD) portion of its ongoing Phase 1/2 study of ARC-521, the company’s second RNAi-based investigational medicine for the treatment of chronic hepatitis B virus (HBV) infection. To date 24 healthy volunteers have been treated in the study, and the drug safety committee (DSC) approved initiation of the MAD after a planned review of safety data from cohort 3 of the healthy volunteer portion of the study. The MAD is designed to evaluate the safety, tolerability, and antiviral activity of single and multiple doses of ARC-521 in patients with chronic HBV.
Bruce Given, M.D., chief operating officer and head of R&D at Arrowhead said, “The innovative design for the first-in-man study of ARC-521 is intended to get to multiple dose data in patients rapidly. Arrowhead’s development staff and the experienced investigators working on the study are operating at best-in-class speeds, enabling us to begin the MAD portion of the study just three months into the clinical program. This study may have multiple readouts, including single dose safety data in healthy volunteers and single and multiple dose safety and antiviral activity data in HBV patients. These readouts should happen progressively, potentially starting during the first quarter of 2017.”
The MAD portion of the ARC-521 study (ARC5211001) is a multicenter, sequential, multiple dose, open label study in patients with chronic HBV. Up to 24 chronic HBV patients (8 patients per dose level) that are negative for Hepatitis B e-antigen (HBeAg) at screening will enroll sequentially into up to 3 dose levels (2 mg/kg, 4 mg/kg, 6 mg/kg) to receive 3 monthly doses of open label ARC-521.
Shares of StemCells Inc (NASDAQ:STEM) ended Tuesday session in red amid volatile trading. The shares closed down -0.05 points or -3.68% at $1.31 with 408,287.00 shares getting traded. Post opening the session at $1.35, the shares hit an intraday low of $1.30 and an intraday high of $1.38 and the price vacillated in this range throughout the day. The company has a market cap of $16.08 million and the numbers of outstanding shares have been calculated to be 12.01 million shares.
On Aug. 16, 2016 StemCells Inc (STEM) and Microbot Medical Ltd., a private company organized under the laws of the State of Israel (“Microbot”), announced that they have entered into a definitive merger agreement, with plans to pursue the development of robotics based medical devices for the treatment of cerebrospinal fluid and gastrointestinal disorders, as well as other conditions.
“This transaction concludes an extensive search for strategic alternatives conducted by StemCells since we failed to see robust clinical results in our Phase II clinical study of human neural stem cells in chronic spinal cord injury,” said Ian Massey, the CEO of StemCells, Inc. “We believe both our investors and the market at large will see the potential of Microbot’s robotics platform, specifically its catheter and shunt technologies, and will appreciate Microbot’s overall business opportunities and potential.”
Harel Gadot, the CEO & Chairman of Microbot added, “We are pleased that this transaction will give us a presence in the U.S. capital markets, and we are very excited to continue advancing the development of our proprietary technologies that we believe have the potential to improve the lives of many patients globally. We thank StemCells for its efforts and contributions to improving human health over the years.”