Marina Biotech, Inc. (NASDAQ: MRNA) reached up 23.08% in morning trading to $.16 with 1.5M shares traded. Marina Biotech is a biotechnology company, focused on the development and commercialization of oligonucleotide-based therapeutics utilizing multiple mechanisms of action including RNA interference (RNAi) and messenger RNA translational blocking. The Marina Biotech pipeline currently includes a clinical program in Familial Adenomatous Polyposis (a precancerous syndrome) and two preclinical programs -- in bladder cancer and malignant ascites. Marina Biotech entered into an exclusive agreement with Debiopharm Group for the development and commercialization of the bladder cancer program. Marina Biotech's goal is to improve human health through the development of RNAi- and oligonucleotide-based compounds and drug delivery technologies that together provide superior therapeutic options for patients. Marina Biotech, Inc. (NASDAQ: MRNA - News) yesterday reported that the State Intellectual Property Office of the People's Republic of China (PRC) has issued a Notification of Granting Patent Rights for PRC 200680047851, which covers pharmaceutical formulations for intranasal delivery of insulin, and uses of the formulations to treat diseases associated with inappropriate insulin levels. Combined with the current patent protection in the European theater, this patent grant in China further expands and strengthens the insulin patent portfolio.
Poniard Pharmaceuticals, Inc. (NASDAQ: PARD) reached up 107.19% in morning trading to $.265 with 1M shares traded. Poniard Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative oncology products. Poniard's lead product candidate is picoplatin, a new generation platinum-based cancer therapy designed to treat solid tumors that are resistant to existing platinum-based therapies. Assuming receipt of shareholder approvals and satisfaction of other conditions to closing, the merger of Poniard and ALLOZYNE, Inc. will result in a Nasdaq-listed specialty pharmaceutical company focused on developing and commercializing therapeutics in the areas of autoimmune and inflammatory disease and cancer. The combined company is expected to seek a partnership for the continued development of picoplatin. Poniard Pharmaceuticals, Inc. (NASDAQ: PARD - News) announced today that it has entered into a licensing agreement with an undisclosed party for rights to Poniard's focal adhesion kinase (FAK) technology, including a preclinical candidate that is a selective small molecule inhibitor of FAK.
China Medical Technologies, Inc. (Nasdaq: CMED) reached up 19.22% in morning trading to $4.59 with 350K shares traded. China Medical Technologies, Inc. is a leading China -based advanced IVD company using molecular diagnostic technologies including Fluorescent in situ Hybridization (FISH) and Surface Plasmon Resonance (SPR) and an immunodiagnostic technology, Enhanced Chemiluminescence Immunoassay (ECLIA), to develop, manufacture and distribute diagnostic products used for the detection of various cancers, diseases and disorders as well as companion diagnostic tests for targeted cancer drugs. The Company generates all of its revenues in China through the sale of diagnostic consumables including FISH probes, SPR-based DNA chips and ECLIA reagent kits to hospitals which are recurring users of the consumables for their patients. The Company sells FISH probes and SPR chips to large hospitals through its direct sales personnel and ECLIA reagent kits to small and mid-size hospitals through distributors. China Medical Technologies, Inc. (Nasdaq: CMED - News) announced its unaudited financial results for the second fiscal quarter ended September 30, 2011 ("2Q FY2011") today.
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