Analysts Review Releases Notes on Alere, AMRI, Anika Therapeutics, Nektar and Sangamo [Professional Services Close - Up]
(Professional Services Close - Up Via Acquire Media NewsEdge) On July 4, Analysts Review released its analysts' notes regarding Alere, Albany Molecular Research, Anika Therapeutics, Nektar Therapeutics and Sangamo Biosciences.
On July 1, Alere announced the appointment of Chief Operating Officer Namal Nawana as interim CEO and President following the resignation of CEO, President and Director Ron Zwanziger, effective immediately. Additionally, the Company stated that the resignations of Jerry McAleer, Senior Vice President Research and Development and a Director, and Dave Scott, Chief Scientific Officer, are also effective immediately. Alere informed that these changes are a part of its ongoing review of strategy and operations. According to the Company, to identify a permanent CEO and President, its Board of Directors will initiate a search process which includes a review of both internal and external candidates and plans to retain a leading executive search firm. Alere Chairman of the Board, Gregg J. Powers, stated, "We believe that with Alere's talented management team in place, now is the right time for the Company to transition to new leadership."
On July 1, Albany Molecular Research Inc. (AMRI) announced its successful acquisition of Oso Biopharmaceuticals Manufacturing, a former portfolio company of Altaris Capital Partners, LLC, in line with its strategy to be the leading supplier of custom and complex drug product development and manufacturing services to the pharmaceutical industry. According to the Company, it has paid a total consideration of $110 million, funded through cash on hand. Additionally, AMRI stated that it plans to provide investors with an updated 2014 guidance for the combined company when it releases its Q2 2014 financial results on August 5.
On July 1, Anika Therapeutics Inc.'s stock increased by 4.73 percent, ending the day at $48.52. Over the past five-day trading period, Company's stock went up by 4.57 percent compared to the Nasdaq Composite which increased by 2.06 percent during the same trading period.
On June 19, Nektar Therapeutics reported that its partner AstraZeneca announced that the New England Journal of Medicine (NEJM) has published results of two pivotal Phase III studies, KODIAC-4 and KODIAC-5 of Naloxegol, an investigational treatment for opioid-induced constipation (OIC). According to the Company, the Phase III studies KODIAC-4 and KODIAC-5 evaluated 12.5 mg and 25 mg doses of naloxegol, administered once a day, over 12-week, multicenter, randomised, double blind, placebo-controlled pivotal trials. Additionally, Nektar stated that Naloxegol has the potential to be the first FDA approved once-daily oral treatment for patients with OIC. William Chey, MD, AGAF, FACG, FACP, Professor of Medicine at the University of Michigan Health System, said, "These results demonstrated the potential for naloxegol, if approved, to be a new treatment option as the studies showed rapid and sustained improvement for these patients, without compromising their pain management over the course of the trials."
On June 19, Sangamo Biosciences announced that the Company has appointed H. Stewart Parker to the Board of Directors. According to the Company, Parker founded and served as President and CEO of Targeted Genetics Corp. Sangamo President and CEO, Edward Lanphier, stated, "We are very pleased to bring Stewart onto our Board during such an important stage in Sangamo's development. As we expand our manufacturing capabilities and advance ZFP Therapeutic programs for the development of genetic cures for monogenic diseases, Stewart's proven entrepreneurial and executive leadership skills and extensive experience in AAV gene therapy, particularly cGMP manufacturing and clinical development, will be very valuable to Sangamo."
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