MOH Opens Wallet, TNXP On The Move, Court Favors PIP

(RTTNews) - BioSpecifics Technologies Corp. (BSTC) has initiated a phase 2 clinical trial of XIAFLEX for the treatment of lipoma, and expects to complete patient enrollment in this trial during the first quarter of 2015.

XIAFLEX is marketed in the U.S. for the treatment of adult Dupuytren's contracture patients with a palpable cord in the palm and for Peyronie's disease in men with a palpable plaque and a curvature deformity of 30 degrees or greater at the start of therapy. The product is marketed in the EU under the trade name XIAPEX.

BSTC closed Friday's trading at $27.70, up 4.14%.

Molina Healthcare Inc.'s (MOH) wholly owned subsidiary Molina Healthcare of Florida Inc is all set to acquire certain assets related to Medicaid business from First Coast Advantage LLC. As a part of the transaction, Molina Healthcare of Florida will assume First Coast Advantage's Medicaid contract, among other things.

MOH closed Friday's trading at $40.63, up 2.09%.

Genentech, a member of the Roche Group (RHHBY), is seeking FDA approval for Lucentis in another indication namely, diabetic retinopathy.

Diabetic retinopathy is the most common diabetic eye disease, impacting nearly 7.7 million Americans, and t here are currently no ocular medications approved for the treatment of this disease.

Lucentis is already approved by the FDA for the treatment of wet age-related macular degeneration (wet AMD), macular edema following retinal vein occlusion (RVO), and diabetic macular edema (DME). The drug logged in annual U.S. sales of $1.79 billion in 2013 compared to $1.57 billion in 2012.

In the civil suit filed by PharmAthene Inc. (PIP) against SIGA Technologies Inc. (SIGA), the Delaware Court of Chancery has ruled that PharmAthene is entitled to lump sum expectation damages for its lost profits related to smallpox antiviral Tecovirimat (previously known as ST-246).

While Tecovirimat is not yet approved by FDA, it is being delivered to the Strategic National Stockpile under Project Bioshield.

The suit was filed by PharmAthene in December 2006, alleging, among other things, that it had the right to license exclusively development and marketing rights for SIGA's ST-246, pursuant to a merger agreement between the parties that was terminated in October 2006. The suit also alleged that SIGA failed to negotiate, in good faith, a license agreement for ST-246 with PharmAthene.

PharmAthene is looking forward to working with its damages expert to calculate the lump sum damage amounts in accordance with the Court's decision.

PIP closed Friday's trading at $1.25, down 1.80%.

Tonix Pharmaceuticals Holding Corp. (TNXP) is expected to announce top-line data from its phase 2b/3 study evaluating TNX-102 SL in patients with fibromyalgia, dubbed BESTFIT trial, in the fourth quarter of this year.

TNXP closed Friday's trading 9.34% higher at $13.23.