Protalix BioTherapeutics Receives Confirmation of Order for over $24 Million of alfataliglicerase to Treat Gaucher Patients in Brazil

CARMIEL, Israel, Dec. 27, 2016  -- Protalix BioTherapeutics, Inc. (NYSE MKT:PLX) (TASE:PLX) (the “Company”) announced today the confirmation of the recent letter of intent to purchase alfataliglicerase to treat Gaucher patients in Brazil by the Brazilian Ministry of Health (the “Brazilian Ministry”).  The Brazilian Ministry’s order consists of a number of shipments during 2017 for a total of approximately $24.3 million.  Shipments are to start in mid-2017 and continue through the end of the year, in increasing volumes.  The size of the final shipment of this order represents annual revenues of approximately $42 million. 
 
“This order for alfataliglicerase will further bolster our liquidity, and we expect it to bring us close to the breakeven point for the fourth quarter of 2017.  We also anticipate having data from a number of our ongoing clinical programs during 2017,” said Mr. Moshe Manor, Protalix’s President and Chief Executive Officer.  “The upcoming year will be an exciting one for our company as our narrative is changing and we now have the ability to realize significant potential clinical and commercial value-creating opportunities.”
Published: 29 December 2016
Written by Editor
AMEX   New Product or Order   Up on News  
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Galectin Therapeutics Announces $4 Million in New Equity Financings

NORCROSS, Ga., Dec. 29, 2016 -- Galectin Therapeutics Inc. (NASDAQ:GALT), the leading developer of therapeutics that target galectin proteins, today announced it has recently completed  a private placement of its common stock, raising $3,000,000 in new funding.  In a separate transaction, the Company also closed an additional sale of its Series B-3 preferred stock resulting in $1,008,000 of additional new proceeds.
 
In the placement of common stock, one existing investor and a new investor purchased 2,814,230 shares of common stock at above market price and received warrants for common stock exercisable at $5.00 per share.
 
Following up under its September 22, 2016 stock purchase agreement, 10X Fund, L.P, made an additional purchase of 1,008,000 shares of Series B-3 preferred stock, which are convertible into 896,997 shares of common stock.   The purchase price of the Series B preferred stock was $1,008,000.  Under the September 22, 2016 agreement, 10X Fund, L.P. also received warrants for common stock exercisable at $3.00 per share.  
Published: 29 December 2016
Written by Editor
Nasdaq   Up on News   Financing  
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Neothetics Initiates Phase 2 Proof of Concept Trial for LIPO-202 for the Reduction of Submental Subcutaneous Fat

SAN DIEGO, Dec. 23, 2016 -- Neothetics, Inc. (NASDAQ:NEOT) today announced the initiation of the Phase 2 proof of concept trial, LIPO-202-CL-31, for LIPO-202 for the reduction of submental subcutaneous fat.
 
“The initiation of our Phase 2 proof of concept trial for LIPO-202 for the reduction of submental fat is a significant milestone for Neothetics,” said Kim Kamdar, Ph.D., a member of Neothetics’ Operating Committee and Board of Directors. “We continue to believe LIPO-202 could have exceptional impact in the submental fat reduction market.”
Published: 23 December 2016
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Nasdaq   Up on News   Project Update  
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Protalix BioTherapeutics Announces Last Patient Enrolled in the AIR DNase ™ Phase II Clinical Trial for Cystic Fibrosis

CARMIEL, Israel, Dec. 22, 2016  -- Protalix BioTherapeutics, Inc. (NYSE MKT:PLX) (TASE:PLX), announced today that the last patient has been enrolled in the Company’s phase II clinical trial of AIR DNaseTM  (PRX-110) for the treatment of Cystic Fibrosis (CF).  The Company expects to report interim top-line results from this study during the first week of January 2017, and full results before the end of the first quarter of 2017.
 
AIR DNase is a plant cell-derived recombinant form of human deoxyribonuclease I (DNase I) that the Company has designed, through chemical modification, to be resistant to inhibition by actin.  Given actin is a potent inhibitor of DNase I activity, the Company’s AIR DNase has the potential to enhance the enzyme’s efficacy significantly in CF patients when compared to the currently approved DNase treatment (Pulmozyme®).
Published: 22 December 2016
Written by Editor
AMEX   Up on News   Project Update  
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Tokai Pharmaceuticals and Otic Pharma Enter into Share Purchase Agreement

Transaction to create NASDAQ-listed pharmaceutical company focused on the development and commercialization of ear, nose, and throat (ENT) products
Gregory J. Flesher to be Named President and Chief Executive Officer of the Combined Company
 
BOSTON, Mass., IRVINE, Calif., & REHOVOT, Israel -- Tokai Pharmaceuticals Inc. (NASDAQ:TKAI) and Otic Pharma Ltd., a privately-held, clinical-stage pharmaceutical company focusing on the development and commercialization of products for disorders of the ear, nose, and throat (ENT), today announced that the two companies, together with the shareholders of Otic Pharma, have entered into a definitive share purchase agreement under which the shareholders of Otic Pharma will become the majority owners of Tokai.
Published: 22 December 2016
Written by Editor
Nasdaq   Up on News  
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