EXEL files shelf. CHTP cost-saving measures. ALNY initiates Phase 2 trial for ATTR.

Jun 08, 2012 No Comments by

EXELIXIS INC (NASDAQ: EXEL) filed a mixed shelf today on a Form S‑3ASR to register an unspecified amount of equity or debt securities. The shelf becomes effective automatically without the requirement of review by the SEC. Companies classed as “well known seasoned issuers” (“WKSI”) may file an automatic shelf registration (ASR), which allows it to not specify the dollar amount of securities in the shelf at the time of  the filing. This replaces the expired shelf filed in 2009.

Chelsea Therapeutics International, Ltd. (Nasdaq:CHTP) said that its corporate officers and directors will receive a 25% reduction in compensation until the release of Phase 3 Northera data. The company anticipate results to be available during 1Q 2013 allowing for a planned resubmission of its Northera NDA by the end of 1Q 2013. In addition, at least 35% of its staff that do not critically support a timely NDA filing and approval for Northera are expected to have their full-time positions transferred to part-time status. The company maintains its prior cash guidance of approximately $18 to $20 million at year-end 2012.

Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY) announced that it has initiated a Phase 2 trial of  ALN-TTR02 for the treatment of transthyretin (TTR)-mediated amyloidosis (ATTR). Data from its Phase 1 trial is due early in 3Q 2012 and assuming positive results in the current Phase 2 trial it plans to initiate a pivotal trial in 2013.

 

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Currently residing in New Zealand and employed in the education industry, Mr. A. Burden holds a M.Com in International Business from the University of Sydney and used these skills together with his passion for investing to establish BioPharmCatalyst in June 2010 as a tool for investing decisions in the US pharmaceutical market. He spends much of his free time mountain biking, playing squash and hiking.
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