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Achillion Pharmaceuticals (Nasdaq: ACHN) Trading at $2.55, Up $0.13. Today announced the execution of a license agreement for elvucitabine, the Company’s nucleoside reverse transcriptase inhibitor (NRTI) for the treatment of both hepatitis B virus (HBV) infection and human immunodeficiency virus (HIV) infection with GCA Therapeutics, Ltd. (GCAT) of Jersey City, New Jersey. The exclusive license grants GCAT the right, through its Chinese joint venture with Tianjing Institute of Pharmaceutical Research, to clinically develop and commercialize elvucitabine in mainland China, Hong Kong, and Taiwan. In Phase 2 clinical trials elvucitabine has demonstrated to be safe and well tolerated and to be efficacious in both HBV and HIV infected patients.
Under the terms of the agreement, GCAT, through a sublicense agreement with its Chinese joint venture, T & T Pharma Co., Ltd., formed with Tianjing Institute of Pharmaceutical Research (TIPR), will assume all development and regulatory responsibility and associated costs for elvucitabine, and Achillion will be eligible to receive development milestones and double-digit royalties on net sales in those territories.
What They Do: Achillion is an innovative pharmaceutical company dedicated to bringing important new treatments to patients with infectious disease.
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BSD Medical Corp. (Nasdaq: BSDM) Trading at $2.25, Up $0.58. Today announced publication of a news article by the Journal of the National Cancer Institute on the evolving role of hyperthermia in cancer therapy titled, “International Study of Hyperthermia Spurs Hope in U.S.” (J. Natl. Cancer Inst. 2010 102: 79-81; doi:10.1093/jnci/djp530). The article reviewed the history of hyperthermia in cancer therapy, including the challenges faced by hyperthermia advocates and the progress that has been made in addressing these challenges. The article stated that, “Successful use of targeted heat therapy with chemotherapy in treatment of soft-tissue sarcoma has given U.S. advocates of local hyperthermia new hope that the treatment they so believe in will now be taken seriously.”
The article reviewed the EORTC/NCI Phase III multicenter randomized study on 341 high risk soft-tissue sarcoma patients, which showed a significant improvement in disease-free survival and demonstrated that patients were 30% more likely to be alive and cancer-free almost three years after starting treatment if hyperthermia was added to their chemotherapy treatment. All institutions who participated in the study, including Duke University Medical Center, used the BSD 2000 Deep Regional Hyperthermia System to administer hyperthermia.
What They Do: BSD Medical is a leading developer of systems used to provide cancer therapies requiring precision-focused heat through RF/microwave technologies.
Eudloph Technologies (Nasdaq: RTEC) Trading at $7.83, Up $1.06. Announced Monday after market close financial results for the fourth quarter and full year.
Fourth Quarter Operating Highlights: Record fourth quarter orders of $75.3 million leads to strongest backlog in Company’s history. Record book-to-bill ratio of 2.6 exceeded industry averages by more than 2X. Revenue increased 24 percent quarter-over-quarter to $28.9 million, exceeding guidance and marking the Company’s third consecutive quarter with double-digit growth. Non-GAAP earnings per share was $0.02, exceeding guidance; GAAP loss per share was $0.20. Balance sheet remained strong with cash and marketable securities holding flat at $61 million.
GAAP net loss for the fourth quarter of 2009 was $6.1 million, or $0.20 per share, compared to a net loss of $4.8 million or $0.16 per share, for the third quarter of 2009. Excluding the after-tax impact of $7.5 million in non-GAAP adjustments, which includes the restructuring charge, litigation, and stock-based compensation, the fourth quarter non-GAAP net earnings was $520 thousand, or $0.02 per share. The third quarter 2009 non-GAAP net loss totaled $2.3 million, or $0.07 per share.
What They Do: Rudolph Technologies is a worldwide leader in the design, development, manufacture and support of defect inspection, process control metrology, and data analysis systems used by semiconductor device manufacturers worldwide.
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