Sunesis (SNSS) Stock Offering; NXP Semiconductors (NXPI) Upcoming Key Date; Hancock Jaffe (HJLI) In Focus; Zymeworks (ZYME), Eli Lilly (LLY) Second IND-Submission Milestone Achieved
Shares of Sunesis Pharmaceuticals, Inc. (Nasdaq:SNSS) plunged more than 7% in the extended session Thursday after the company said that it intends to offer and sell, subject to market and other conditions, shares of its common stock and Series E Convertible Preferred Stock in underwritten public offerings.
The biopharmaceutical company anticipates using the net proceeds from the proposed offerings to fund ongoing development of its oral non-covalent BTK inhibitor vecabrutinib, ongoing research and development, debt amortization, and general corporate purposes.
Sunesis focuses on the development and commercialization of oncology therapeutics for the treatment of solid and hematologic cancers.
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Hancock Jaffe Laboratories Inc. (Nasdaq:HJLI) will begin a feasibility study for its CoreoGraft bioprosthetic graft on January 29th at the Texas Heart Institute. HJLI expects to have preliminary results from the study immediately after the first implantations and final results from the study at the end of March, 2019.
Approximately 180,000 coronary artery bypass surgeries are performed each year in the U.S., necessitating between 300,000 and 450,00 bypass grafts to revascularize the heart. Studies have shown that up to 40 percent of saphenous vein grafts become occluded or clogged as early as one year after bypass surgery. HJLI's CoreoGraft is a potential alternative to saphenous vein grafting. Heart disease remains the number one killer in the U.S., accounting for over 600,000 annual deaths. Coronary heart disease is the most common form of heart disease.
HJLI specializes in developing and manufacturing bioprosthetic medical devices to establish improved standards of care for treating cardiac and vascular diseases.
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NXP Semiconductors N.V. (Nasdaq:NXPI) plans to release its fourth-quarter and full-year 2018 financial results after the closing bell on Wednesday, February 6.
The semiconductor company will begin to provide supplemental revenue information by end-market, defined as Automotive; Industrial & IoT; Mobile; and Communications Infrastructure & Other.
NXP Semiconductors creates solutions that enable secure connections for a smarter world. Building on its expertise in high-performance mixed-signal electronics, NXP is driving innovation in the areas of connected cars, cyber security, portables & wearables, and the Internet of Things.
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Zymeworks Inc. (NYSE:ZYME) (TSX:ZYME) reported the achievement of a new development milestone in its collaboration with Eli Lilly and Company (NYSE:LLY)
In accordance with a licensing and collaboration agreement between the companies, Zymeworks will receive a milestone payment of $8M for Eli Lilly’s submission of an Investigational New Drug application for an immuno-oncology bispecific antibody enabled by Zymeworks’ proprietary Azymetric platform.
Zymeworks is a clinical-stage biopharmaceutical company dedicated to the discovery, development, and commercialization of next-generation multifunctional biotherapeutics.
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