Shares of Galena Biopharma Inc (NASDAQ:GALE) ended Friday session in red amid volatile trading. The shares closed down -0.009 points or -2.50% at $0.362 with 2.34 million shares getting traded. Post opening the session at $0.38, the shares hit an intraday low of $0.36 and an intraday high of $0.38 and the price vacillated in this range throughout the day. The company has a market cap of $75.74 million and the numbers of outstanding shares have been calculated to be 214.48 million shares.
Galena Biopharma Inc (GALE) announced that Mark W. Schwartz, Ph.D., President and Chief Executive Officer will present a corporate update at the Sachs Associates 16th Annual Biotech in Europe Forum. The presentation will take place on Wednesday, September 28, 2016 at 10:15 a.m. local time at the Congress Center Basel in Basel, Switzerland.
The presentation will be webcast and available on the Investors section of the Company’s website at http://investors.galenabiopharma.com/events.cfm.
Shares of Curis, Inc. (NASDAQ:CRIS) ended Friday session in red amid volatile trading. The shares closed down -0.05 points or -1.98% at $2.48 with 2.26 million shares getting traded. Post opening the session at $2.53, the shares hit an intraday low of $2.39 and an intraday high of $2.53 and the price vacillated in this range throughout the day. The company has a market cap of $314.74 million and the numbers of outstanding shares have been calculated to be 129.47 million shares.
Curis, Inc. (CRIS) on Sept. 07, 2016 announced that its collaborator, Aurigene Discovery Technologies Ltd., will receive 10.2 million shares of Curis’s common stock, priced at $2.40 per share, representing a 39% premium to the closing price on September 2, 2016, in lieu of receiving up to $24.5 million of milestone and other payments from Curis that may become due under the companies’ 2015 collaboration agreement.
In January 2015, Curis and Aurigene established an exclusive collaboration focused on the discovery, development and commercialization of small molecule drug candidates in the fields of immuno-oncology and selected precision oncology targets. Under the collaboration agreement, Curis licensed CA-170, the first orally available, small molecule drug candidate designed to target the immune checkpoints programmed death ligand-1 (PD-L1) and V-domain Ig suppressor of T cell activation (VISTA), and a second candidate, CA-4948 that targets Interleukin-1 receptor-associated kinase 4 (IRAK4). Curis is currently evaluating CA-170 in a Phase 1 trial in patients with advanced tumors, while Aurigene is conducting IND enabling studies with CA-4948. In addition, Curis has selected a second program within the immuno-oncology field of the collaboration that is focused on orally available, small molecule antagonists that are designed to target PD-L1 and T-cell immunoglobulin and mucin domain containing protein-3 (TIM-3) immune checkpoints.
“We are pleased with the progress of our collaboration and drug candidates, and welcome Aurigene’s confidence in Curis as we further advance our pipeline of small molecule checkpoint antagonists,” said Ali Fattaey, Ph.D., Curis’s president and CEO. “We are especially excited about the Phase 1 trial of CA-170, the first oral checkpoint inhibitor being taken by patients. We also expect to license a second oral immuno-oncology candidate into Curis later this year that targets PD-1 and TIM3 checkpoint pathways. We look forward to continued progress with Aurigene as we seek to discover and develop multiple first-in-class oral, small molecule checkpoint inhibitors for the treatment of patients with cancer.”