BioELife (OTCPK:LITH) received a purchase order from a new distributor for the next production run of entire product line including back-ordered BioEDefense products recently launched to help the world-wide crisis surrounding the Coronavirus (COVID-19).
The Company has also received pre-orders on its new packaging option of ChiroRub 2000 – a 3 ml singe use packette.
Due to the level of preorders at BioELife.net, BioELife continues to increase its sales projections and place additional manufacturing orders to ensure adequate supply lines.
Base on FDA feedback, CytoDyn (OTCQB:CYDY -1%) has filed a modified IND and protocol with the agency for a Phase 2 clinical trial evaluating lead drug leronlimab (PRO 140) in COVID-19 patients experiencing respiratory complications.
The modified protocol calls for 75 participants across up to 10 U.S. sites. The treatment window will be ~six weeks. The study should start “in the very near future.”
The company says leronlimab inhibits (binds to) a protein on the surface of certain immune cells called Cysteine-Cysteine Chemokine Receptor 5 (CCR5) which plays a key role in modulating immune cell trafficking in sites of inflammation such as the lungs of severely ill patients infected with SARS-CoV-2.
Certain coronavirus plays are the lone beneficiaries, as usual, during the U.S. market’s turmoil related to COVID-19.
Selected premarket bullish movers: NanoViricides (NYSEMKT:NNVC) (+18%), Alpha Pro Tech (NYSEMKT:APT) (+2%), AIM ImmunoTech (NYSEMKT:AIM) (+6%), OpGen (NASDAQ:OPGN) (+74% on offering of CE-IVD-certified coronavirus test by merger partner Curetis GmbH), Co-Diagnostics (NASDAQ:CODX) (+2%), Moderna (NASDAQ:MRNA) (+8%), Aytu BioScience (NASDAQ:AYTU) (+13%), Chembio Diagnostics (NASDAQ:CEMI) (+1%), Ocean Bio-Chem (NASDAQ:OBCI) (+24%).
Bearish movers: Heat Biologics (NASDAQ:HTBX) (-12%), Inovio Pharmaceuticals (NASDAQ:INO) (-16%), Vaxart (NASDAQ:VXRT) (-3%), Cocrystal Pharma (NASDAQ:COCP) (-17%), China Pharma Holdings (NYSEMKT:CPHI) (-6%).
Kindred Biosciences (NASDAQ:KIN) reports Q4 results and key strategic moves.
Revenues: $1.4M (+6%); net loss: ($15.7M) (-2%); loss/share: ($0.40) (+13%).
Agreed to sell the rights to Mirataz to Dechra Pharmaceuticals PLC for $43M upfront and royalties on global sales.
Development programs will be focused on biologics for dogs and cats. Development of small molecules for dogs and cats will cease.
Headcount to be cut by 53 positions (~1/3 of workforce), reducing annual expenses by ~$7.1M.
Restructuring initiatives and proceeds from Mirataz sale should extend the company’s cash runway through 2022.
Shares up 4% after hours.
Kindred Biosciences EPS in-line, beats on revenue
Health Canada has approved the use of GlaxoSmithKline’s (GSK -9.6%) Nucala (mepolizumab) in children as young as six years old with severe eosinophilic asthma. The previous age limit was 12 years.
