NEW YORK, NY / ACCESSWIRE / October 20, 2017 / Alcobra headed higher on Thursday after the company's wholly-owned subsidiary Arcturus entered into a research collaboration and worldwide license agreement with a Johnson & Johnson subsidiary. Shares of Imprimis Pharmaceuticals also broke out and saw gains over 70% during intra-day trading after announcing that the company is making Cyclosporine-based formulations that will be available to physicians and may be lower in cost than Allergan's Restasis.
RDI Initiates Coverage on:
Imprimis Pharmaceuticals, Inc.
Alcobra Ltd.'s shares closed up 18.90% on Thursday on almost 33 million shares traded. Volume was almost 100 times higher than usual for the stock yesterday after it was revealed that the company's wholly-owned subsidiary Arcturus, has entered into a research collaboration and worldwide license agreement with Janssen Pharmaceuticals, which is a subsidiary of Johnson & Johnson. As per the agreement, Alcobra's Arcturus and Janssen Pharmaceuticals, will be working together to develop and commercialize nucleic acid-based drug products for the treatment of Hepatitis B, using Arcturus' UNA Oligomer chemistry and LUNAR™ lipid-mediated delivery platform. Arcturus' CEO stated, "This new collaboration signifies an expanded relationship between Arcturus and Janssen [...] Arcturus' expertise and intellectual property in the field of RNA medicines is complemented by Janssen's broad capabilities in clinical development, regulatory affairs, and marketing. Together we aim to bring new treatments to patients who are suffering from Hepatitis B and potentially other infectious diseases."
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Imprimis Pharmaceuticals, Inc.'s shares had a huge trading day on Thursday with gains of 28.77% at the close. Volume at a little over 23 million shares was also explosive compared to the stock's average trading volume of just under 200,000 shares. Shares soared as high as over 70% yesterday after it was revealed that the drug maker is making compounded Cyclosporine-based formulations available for physicians. Traders were all over the news because if physicians consider prescribing them, it could potentially be a lower cost alternative to Allergan's Restasis. Still patent pending, they will be packaged in a multi-use preservative-free bottle, and will include "Klarity Drops™," a patented formulation developed by renowned ophthalmologist Richard L. Lindstrom, MD. Company CEO Mark L. Baum commented, "We believe Dry Eye Disease patients can benefit from unique customized medications that are not commercially available. While physicians who use compounded Cyclosporine formulations have anecdotally known this for many years, there is now published data that demonstrates the clinical value of topical Cyclosporine formulations at concentrations greater than those currently available in commercially available medications. We are pleased to be able to offer affordable customized Cyclosporine formulations that are designed for patients' individual needs."
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