Shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) ended Friday session in red amid volatile trading. The shares closed down -0.11 points or -0.81% at $13.52 with 6.73 million shares getting traded. Post opening the session at $13.57, the shares hit an intraday low of $13.50 and an intraday high of $13.94 and the price vacillated in this range throughout the day. The company has a market cap of $2.58 billion and the numbers of outstanding shares have been calculated to be 192.71 million shares.
Ariad Pharmaceuticals, Inc. (ARIA) on August 30, 2016 announced it has completed the rolling submission of the New Drug Application (NDA) for its investigational anaplastic lymphoma kinase (ALK) inhibitor, brigatinib, to the U.S. Food and Drug Administration (FDA). ARIAD is seeking U.S. marketing approval of brigatinib for patients with metastatic ALK-positive (ALK+) non-small cell lung cancer (NSCLC) who are resistant or intolerant to crizotinib. The Company is seeking accelerated approval for brigatinib from the FDA and has requested a priority review of the application, which, if granted, would allow for approval of brigatinib eight months after the NDA submission, as opposed to 12 months for a standard review.
“Many patients with ALK-positive non-small cell lung cancer eventually develop disease progression,” said Corey Langer, M.D., director of thoracic oncology in the Abramson Cancer Center of the University of Pennsylvania and a professor of Hematology-Oncology in Penn’s Perelman School of Medicine. “We are excited that the brigatinib NDA submission is now complete and are hopeful that brigatinib’s data, including the observation of complete responses and activity in the central nervous system, will provide patients and their oncologists with a new treatment option.”
Shares of Marinus Pharmaceuticals Inc (NASDAQ:MRNS) ended Friday session in green amid volatile trading. The shares closed up +0.46 points or 26.14% at $2.22 with 6.41 million shares getting traded. Post opening the session at $1.78, the shares hit an intraday low of $1.75 and an intraday high of $2.38 and the price vacillated in this range throughout the day. The company has a market cap of $43.13 million and the numbers of outstanding shares have been calculated to be 19.51 million shares.
Marinus Pharmaceuticals Inc (MRNS) on Sept. 07, 2016 announced the appointment of Seth H.Z. Fischer to its Board of Directors.
“Seth brings over 30 years of pharmaceutical operations and commercialization experience,” stated Christopher M. Cashman, chairman and chief executive officer of Marinus Pharmaceuticals. “Seth has successfully advanced and commercialized a wide range of therapeutics, including Topamax® in epilepsy and migraines. We will look to leverage his significant knowledge as we advance ganaxolone in status epilepticus and rare pediatric genetic indications. I join my fellow Board members in welcoming Seth to our Board of Directors.”
Mr. Fischer is presently CEO and Director of VIVUS, Inc., a publicly traded biopharmaceutical company commercializing and developing innovative, next-generation therapies to address unmet needs in obesity and sexual health. Prior to VIVUS, Mr. Fischer served in various positions at Johnson & Johnson, most recently as Company Group Chairman, Johnson & Johnson and Worldwide Franchise Chairman of Cordis Corporation. Prior to that he served as Company Group Chairman, North America Pharmaceuticals, which included responsibilities for Ortho-McNeil Pharmaceuticals, Janssen and Scios and prior to that, Mr. Fischer served as President of Ortho-McNeil Pharmaceuticals.
“Ganaxolone is a promising CNS-selective GABAA modulator that has the potential to make a meaningful impact on the lives of patients diagnosed with difficult-to-treat epileptic conditions, especially those suffering from rare diseases with limited treatment options,” commented Mr. Fischer. “I look forward to joining the other Board members in providing guidance to the Marinus executive team as the company continues to advance their oral and IV formulations of ganaxolone through clinical trials and to commercialization.”