Shares of Eleven Biotherapeutics Inc (NASDAQ:EBIO) ended Tuesday session in red amid volatile trading. The shares closed down -0.25 points or -5.17% at $4.59 with 20.06 Billion shares getting traded. Post opening the session at $4.77, the shares hit an intraday low of $4.56 and an intraday high of $4.78 and the price vacillated in this range throughout the day. The company has a market cap of $91.13 million and the numbers of outstanding shares have been calculated to be 20.06 million shares.
Eleven Biotherapeutics Inc (EBIO) on August 16, 2016 announced the effectiveness of the exclusive licensing deal with F. Hoffmann-La Roche Ltd. and Hoffmann-La Roche Inc. (Roche). Eleven has granted Roche an exclusive, worldwide license to develop and commercialize EBI-031 and all other IL-6 antagonist antibody technology owned by Eleven. EBI-031 is a humanized monoclonal antibody that potently binds interleukin-6 (IL-6) and inhibits all known forms of IL-6 cytokine signaling. EBI-031 is currently in development for the treatment of ocular diseases. Eleven is entitled to receive $30 million in payments from Roche, including a $7.5 million upfront payment in connection with the effectiveness of the license agreement, and a $22.5 million milestone payment based on the Investigational New Drug application (IND) for EBI-031 becoming effective.
Under the terms of the agreement, Eleven could receive up to an additional $240 million upon the achievement of certain future regulatory, development and commercialization milestones. In addition, Eleven could be entitled to receive royalties for net sales of potential future products containing EBI-031 or any other potential future products containing other Eleven IL-6 compounds.
“With the completion of this licensing deal and the IND being effective, we look forward to the future clinical advancement of EBI-031 by Roche as they explore its potential use for ocular diseases, including diabetic macular edema,” said Abbie Celniker, Ph.D., President and Chief Executive Officer of Eleven Biotherapeutics.
Shares of EXACT Sciences Corporation (NASDAQ:EXAS) ended Tuesday session in green amid volatile trading. The shares closed up +0.38 points or 2.04% at $17.02 with 106.77 million shares getting traded. Post opening the session at $18.84, the shares hit an intraday low of $18.69 and an intraday high of $19.43 and the price vacillated in this range throughout the day. The company has a market cap of $2.08 Billion and the numbers of outstanding shares have been calculated to be 106.77 million shares.
EXACT Sciences Corporation (EXAS) announced that it will participate in Baird’s 2016 Global Healthcare Conference.
Kevin Conroy, the company’s chairman and chief executive, will participate in a fireside chat at the conference on Wednesday, Sept. 7 at 10:15 a.m. ET in New York.
A live webcast of the fireside chat will be available through the company’s website at www.exactsciences.com. An archived webcast will be available following the conclusion of the fireside chat.