Shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) ended Wednesday session in green amid volatile trading. The shares closed up +2.00 points or 3.81% at $54.46 with 16.76 million shares getting traded. Post opening the session at $55.31, the shares hit an intraday low of $53.78 and an intraday high of $56.44 and the price vacillated in this range throughout the day. The company has a market cap of $50.34 billion and the numbers of outstanding shares have been calculated to be 1.02 billion shares.
On July 5, 2016 Teva Pharmaceutical Industries Ltd (ADR) (TEVA) and the Huntington Study Group (HSG) announced the publication of data from the Phase III, placebo-controlled and randomized First-HD (First Time Use of SD-809 in Huntington Disease) study evaluating the efficacy and safety of SD-809 (deutetrabenazine) tablets for the treatment of chorea associated with Huntington disease (HD). These pivotal data were published by The Journal of the American Medical Association (JAMA).
“We are proud to have the First-HD results published in JAMA,” said Michael Hayden, M.D., Ph.D., President of Global R&D and Chief Scientific Officer at Teva. “This study highlights the meaningful clinical impact deutetrabenazine can have on chorea associated with HD. We will continue to work to bring this treatment option to patients living with HD.”
“As a physician who cares for people with HD, it’s gratifying to see positive results from a well-designed, fully enrolled trial. Until we find a cure, we aim to bring our patients more treatment options to relieve symptoms,” said Dr. Samuel Frank, M.D., Principal Investigator of the First-HD trial, Huntington Study Group Executive Committee member, and Director of the HDSA Center of Excellence at Beth Israel Deaconess Medical Center in Boston, MA. “We are grateful to the people who participated in this trial and their families and support systems that made their participation possible. Research in the HD community depends on volunteers enrolling in trials.”
Shares of Opko Health Inc. (NYSE:OPK) ended Wednesday session in red amid volatile trading. The shares closed down -0.30 points or -3.03% at $9.61 with 2.43 million shares getting traded. Post opening the session at $9.83, the shares hit an intraday low of $9.60 and an intraday high of $9.93 and the price vacillated in this range throughout the day. The company has a market cap of $5.31 billion and the numbers of outstanding shares have been calculated to be 547.44 million shares.
On June 30, 2016 Opko Health Inc. (OPK) and Transition Therapeutics Inc. (NASDAQ:TTHI, TSX:TTH) announced the signing of a definitive agreement under which OPKO will acquire Transition Therapeutics, a clinical stage biotechnology company.
Under the terms of the agreement approved by the Boards of Directors of both companies, Transition Therapeutics security holders will receive approximately 6.4 million shares of OPKO common stock. Based on the moving average price of OPKO common stock for the five trading days preceding the signing of the agreement, the transaction is valued at approximately US$60 million, or US$1.55 per share of Transition Therapeutics common stock, based on current outstanding shares. The companies expect the transaction to close during the second half of 2016, subject to approval of Transition Therapeutics stockholders and other customary conditions.