Shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) ended Friday session in red amid volatile trading. The shares closed down -1.82 points or -5.90% at $29.01 with 1.69 million shares getting traded. Post opening the session at $30.35, the shares hit an intraday low of $29.00 and an intraday high of $30.79 and the price vacillated in this range throughout the day. The company has a market cap of $3.30 billion and the numbers of outstanding shares have been calculated to be 120.92 million shares.
Ionis Pharmaceuticals Inc (IONS) on Aug. 22, 2016 announced that Stanley T. Crooke, Ph.D., M.D., founder, CEO and chairman of the board of directors of Ionis Pharmaceuticals, Inc., has been awarded the E. B. Hershberg Award for important discoveries in medicinally active substances by the American Chemical Society, a society representing more than 150,000 scientists. The E. B. Hershberg Award recognizes Dr. Crooke’s achievements in leading the creation of an innovative, efficient drug discovery and development platform, antisense technology. Dr. Crooke’s accomplishments will be recognized at the American Chemical Society Annual meeting, which will be held on April 4, 2017 in San Francisco, California.
“Dr. Crooke is the father of antisense technology, an ingenious therapeutic platform to address many serious diseases in ways that complement if not surpass other more conventional drug therapies,” said Stephen Hanessian, FRSC, O.C., professor of chemistry at the University of Montreal and internationally renowned in his field. “Dr. Crooke’s vision, resolve, and creative genius in promoting and developing this new platform are now richly rewarded by the coveted E. B. Hershberg award, recognizing his stellar contributions to biomedical science with major health benefits to humankind.”
Dr. Crooke is a successful biotechnology entrepreneur and inventor. During his tenure at Ionis, Dr. Crooke has led the scientific development of a new platform for drug discovery, antisense technology, and engineered the creation of one of the largest and most advanced pipeline of drugs in the biotechnology industry. Currently, Ionis has more than three dozen drugs in development, including three Phase 3 drugs that are all completing Phase 3 studies in the next several months, and more than a dozen in mid-stage development. Dr. Crooke has achieved commercialization of the first two RNA-targeted drugs to reach the market.
“I am honored to have received this award and it is humbling to be recognized by this prestigious society. In the course of my career, I have always focused my efforts on putting the patient first. In keeping with that focus, I was privileged to lead the development efforts of more than 20 marketed drugs, which have served to improve the lives of patients around the world,” said Dr. Crooke. “I have invested the last 27 and counting years of my career in founding and leading Ionis Pharmaceuticals to create and advance antisense technology. Ionis has two approved drugs, three Phase 3 drugs nearing commercialization and a large, diverse pipeline of over three dozen innovative medicines. All of these drugs have the potential to fundamentally change the course of a broad range of diseases. The opportunity to have led the creation of a novel technology platform that is able to bring significant value to patients and greater potential to bring even more value in the future has truly been a highlight of my career.”
Shares of Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) ended Friday session in red amid volatile trading. The shares closed down -0.22 points or -3.61% at $5.87 with 1.66 million shares getting traded. Post opening the session at $6.16, the shares hit an intraday low of $5.71 and an intraday high of $6.19 and the price vacillated in this range throughout the day. The company has a market cap of $382.96 million and the numbers of outstanding shares have been calculated to be 1.00 million shares.
Aralez Pharmaceuticals Inc (ARLZ) on Sept. 7, 2016 announced that it acquired the U.S. and Canadian rights to ZONTIVITY® (vorapaxar), pursuant to an asset purchase agreement entered into between Merck, known as MSD outside the United States and Canada , and Aralez Pharmaceuticals Trading DAC, a subsidiary of Aralez, based in Ireland . ZONTIVITY is the first and only approved therapy shown to inhibit the protease-activated receptor-1 (PAR-1), the primary receptor for thrombin, which is considered to be the most potent activator of platelets. In the U.S., ZONTIVITY is indicated for the reduction of thrombotic cardiovascular events in patients with a history of heart attack (myocardial infarction) or in patients with narrowing of leg arteries, called peripheral arterial disease (PAD), and should be used in combination with daily aspirin and/or clopidogrel according to their indications or standard of care. In Canada , ZONTIVITY (vorapaxar sulfate) co-administered with aspirin with or without clopidogrel, according to their standard of care, is indicated for the reduction of atherothrombotic events in adult high-risk patients with a history of myocardial infarction (MI).
The asset purchase agreement included an initial upfront payment of $25 million , which was paid from cash on hand. The transaction also includes graduated royalties and potential added future consideration in the form of payments for achieving certain aggregate annual sales-based milestones. In addition to the Asset Purchase Agreement, the parties simultaneously entered into a Supply Agreement, a License Agreement with respect to trademarks and certain proprietary know-how and a Transition Services Agreement. Under the terms of the Transition Services Agreement, Merck will continue to distribute the product on behalf of Aralez for up to twelve months while the product rights, packaging and labeling and other responsibilities are transferred to Aralez Pharmaceuticals Trading DAC.