Shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) ended Friday session in red amid volatile trading. The shares closed down -0.16 points or -0.31% at $51.74 with 4,650,728 shares getting traded. Post opening the session at $51.89, the shares hit an intraday low of $51.45 and an intraday high of $52.01 and the price vacillated in this range throughout the day. The company has a market cap of $52.43 billion and the numbers of outstanding shares have been calculated to be 1.01 billion shares.
Teva Pharmaceutical Industries Ltd (ADR) (TEVA) on September 15, 2016 announced a collaboration with Intel Corporation to develop a unique wearable device and machine learning platform for use in Huntington disease (HD). This platform will continuously monitor and analyze key symptoms that impact daily living, in an effort to better understand disease progression and improve treatment evaluation.
Teva, working in collaboration with Intel, will deploy this novel technology platform for the first time in a sub-study within the ongoing Phase 2 Open-Pride HD Study. As part of this, patients will be asked to use a smartphone and wear a smartwatch equipped with sensing technology that will continuously measure their general functioning and movement. These data will be wirelessly streamed to a cloud-based platform specifically developed by Intel to analyze data from wearable devices. Proprietary algorithms will then translate these data, in near real-time, into objective scores of motor symptom severity. The study will start towards the end of the year and will take place in centers in the US and Canada.
This collaboration will leverage Intel’s capabilities in analytics and algorithm development for movement detection, together with Teva’s deep knowledge and experience in HD treatment and research. HD is a devastating illness that is desperate for treatment options, requiring innovative ways to continuously and remotely assess and quantify symptoms in a way that can provide meaningful and actionable feedback to doctors, patients and caregivers.
“The aim of this important project is to provide continuous objective data on the impact of Huntington disease on the patient, and, by extension, a clear understanding of the impact of treatment on patients’ quality of life,” said Michael Hayden, President of Teva Global R&D and Chief Scientific Officer. “Current measurement of symptoms is largely based on observation when the patient sees the doctor. This technology now provides us with an opportunity to have continuous monitoring. This unique technology could complement future trials in HD.”
Shares of Clovis Oncology Inc (NASDAQ:CLVS) ended Friday session in green amid volatile trading. The shares closed up +1.82 points or 5.94% at $32.45 with 4.65 million shares getting traded. Post opening the session at $30.49, the shares hit an intraday low of $30.14 and an intraday high of $32.63 and the price vacillated in this range throughout the day. The company has a market cap of $1.32 billion and the numbers of outstanding shares have been calculated to be 38.50 million shares.
Clovis Oncology Inc (CLVS) on August 9, 2016 eported financial results for the quarter ended June 30, 2016.
Second Quarter 2016 Financial Results
Clovis had $378.5 million in cash, cash equivalents and available-for-sale securities as of June 30, 2016. Cash used in operating activities was $68.0 million for the second quarter of 2016 and $151.7 million for the first half of 2016, compared with $57.2 million and $105.6 million for the comparable periods of 2015. Cash used in operating activities in the second quarter of 2016 was down $15.7 million, or 18.8 percent compared to the first quarter of 2016. Clovis had approximately 38.5 million outstanding shares of common stock as of June 30, 2016.
Clovis reported a net loss of $129.3 million, or ($3.37) per share, for the second quarter of 2016 and $212.7 million or ($5.54) per share for the first half of 2016. Net loss for the second quarter of 2016 included share-based compensation expense of $9.5 million and $20.5 million for the first half of 2016, compared to $8.4 million and $17.1 million for the comparable periods of 2015.
“We are pleased to have completed the submission of our NDA for rucaparib in the treatment of advanced ovarian cancer in late June,” said Patrick J. Mahaffy, President and CEO of Clovis Oncology. “We continue to focus on our broader clinical development program for rucaparib, and are actively preparing for a potential U.S. launch of rucaparib.”