Health Canada has approved Johnson & Johnson (NYSE:JNJ) unit Janssen Pharmaceutical Companies’ Stelara (ustekinumab) for the treatment of adult patients with moderately to severely active ulcerative colitis.
FDA OKs Trijardy for patients with type 2 diabetes, Eli Lilly says
Eli Lilly (NYSE:LLY) says the Food and Drug Administration approved its Trijardy XR tablet to help lower blood sugar in adults with type 2 diabetes.
Lilly says Trijardy combines three medicines – Jardiance (empagliflozin), Tradjenta (linagliptin) and metformin hydrochloride extended release – in one pill, which will be a once-a-day medication.
The FDA approval was based on two randomized open-label trials that assessed the bioequivalence of empagliflozin, linagliptin and metformin hydrochloride extended release fixed-dose combination tablets and their individual components in healthy adults.
Roth’s Jallah Zegbeh sees 218% upside, setting a price target of $25; shares had closed up 6.2% against today’s down market, to $7.86.
The sell side is overall Very Bullish on the shares, as are Seeking Alpha authors. The stock has a Quant Rating of Neutral.
Tetra Bio ups capital raise to $15.5M
Tetra Bio-Pharma (OTCQB:TBPMF) has revised its agreement with Echelon Wealth Partners, increasing its bought deal offering to ~29.3M units at C$0.53 per unit yielding gross proceeds of C$15.5M.
The original offering was ~18.9M units.
PharmaCielo announces 30,000 kg cannabis extract agreement
PharmaCielo (OTCPK:PHCEF) has entered into a three-year agreement with XPhyto Therapeutics, whereby PharmaCielo will supply medicinal-quality cannabis extract oils and isolates, including those containing THC, to XPhyto for analysis, further processing, product development and manufacturing at its European Union Good Manufacturing Practice-certified facility in Biberach in the state of Baden-Württemberg, and thereafter for sale into the German market.
Exports are planned to commence in mid-2020. Minimum total volume under the Agreement is ~30,000 kg over the three-year period.
Pursuant to the Agreement, XPhyto granted PharmaCielo 500,000 Common Share purchase Warrants with an exercise price of $2.00 per share.
As a term of the Agreement, PharmaCielo will enter into an agreement to purchase C$500,000 of unsecured convertible debentures of XPhyto, to fund expansion of its processing capabilities. The Debentures mature two years from the date of issue and bear interest of 8.0% per annum.
XPhyto will also grant PharmaCielo 500,000 Warrants with an exercise price of $1.50 per Common Share.
