Shares of KaloBios Pharmaceuticals, Inc. (KBIO) soared more than 600% in the extended session Wednesday after Martin Shkreli, the founder and CEO of Turing Pharmaceuticals AG, disclosed in a regulatory filing ( Form 4 ) with the Securities and Exchange Commission (SEC) the purchase of 1,211,115 shares of the company on November 16 and 17, 2015 at a prices ranging from $0.61 to $2.43.
KBIOrecently said that it will wind down its operations and that it has engaged the Brenner Group to lead those efforts. The company will discontinue its two current development programs, KB004, being studied in Phase 2 for certain hematologic malignancies, and lenzilumab, or KB003, scheduled to initiate Phase 1 development later this year in chronic myelomonocytic leukemia.
KBIOis a monoclonal antibody company focused on developing innovative therapies to benefit patients with diseases of unmet medical need, with a focus on oncology
StemCells, Inc. (STEM) reported after the closing bell on Wednesday that the six-month interim results for the first cohort in its ongoing Phase II Pathway(TM) Study in cervical spinal cord injury showed motor improvements in both strength and function. The assessment of motor function involved using tests of dexterity.
According to STEM, the findings demonstrate the ability of its HuCNS-SC(R) cells to improve both muscle strength and motor function, thereby changing the trajectory of recovery following a spinal cord injury.
STEMshares climbed over 45% following the announcement
STEMis currently engaged in clinical development of its HuCNS-SC platform technology (purified human neural stem cells) as a potential treatment for both neurological and retinal disorders. The company has demonstrated human safety data from completed and ongoing clinical studies in which its proprietary HuCNS-SC cells have been transplanted directly into all three components of the central nervous system: the brain, the spinal cord and the eye. Manufactured under cGMP standards, STEM's HuCNS-SC cells are purified, expanded in culture, cryopreserved, and then stored as banks of cells, ready to be made into individual patient doses when needed.
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