Shares of Novavax, Inc. (NASDAQ:NVAX) ended Tuesday session in red amid volatile trading. The shares closed down -0.07 points or -2.98% at $2.28 with 54.06 million shares getting traded. Post opening the session at $2.43, the shares hit an intraday low of $2.14 and an intraday high of $2.47 and the price vacillated in this range throughout the day. The company has a market cap of $649.94 million and the numbers of outstanding shares have been calculated to be 271.19 million shares.
Novavax, Inc., a clinical-stage vaccine company, focuses on discovering, developing, and commercializing recombinant nanoparticle vaccines and adjuvants. The company produces its vaccines using its proprietary recombinant nanoparticle vaccine technology. Its product pipeline includes respiratory syncytial virus (RSV) vaccine candidates for elderly and maternal immunization that are in Phase III clinical trials, as well as pediatric RSV candidate, which is in Phase I clinical trial; seasonal quadrivalent influenza and pandemic H7N9 vaccines, which are in Phase II clinical trials; vaccine candidate against Ebola Virus that is Phase I clinical trial, as well as combination respiratory vaccine candidate and seasonal influenza vaccine candidate that is in pre-clinical trial; and rabies G protein vaccine candidate, which is in Phase I/II clinical trial. The company also has pre-clinical stage programs for various infectious diseases, including the Middle East respiratory syndrome coronavirus; and develops technology for the production of immune stimulating saponin-based adjuvants. Novavax, Inc. was founded in 1987 and is headquartered in Gaithersburg, Maryland.
Shares of Skyline Medical Inc (NASDAQ:SKLN) ended Tuesday session in red amid volatile trading. The shares closed down -0.005 points or -2.74% at $0.170 with 3.61 million shares getting traded. Post opening the session at $0.18, the shares hit an intraday low of $0.17 and an intraday high of $0.18 and the price vacillated in this range throughout the day. The company has a market cap of $13.87 million and the numbers of outstanding shares have been calculated to be 81.80 million shares.
On Sept. 21, 2016 Skyline Medical Inc. (SKLN), producer of the FDA-approved STREAMWAY® System for automated, direct-to-drain medical fluid disposal, announced the signing of a partnership and exclusive reseller agreement with GLG Pharma, LLC (“GLG”).
Under the terms of the agreement, GLG intends to develop rapid diagnostic tests that utilize fluid and tissue collected by the STREAMWAY System during procedures. Skyline Medical will issue common stock to GLG in four separate tranches, with each tranche released after the achievement of certain development milestones. In addition, Skyline will pay a royalty to GLG on the sale of individual tests.
Initial tests are anticipated to include cancer biomarkers and infectious diseases. The oncology test panels will feature GLG’s patented inhibitors of Signal Transducers and Activators of Transcription 3 (STAT3), which are in preclinical development for a new generation of targeted therapies.
“This partnership provides Skyline Medical with access to exciting new technology that we believe will allow future enhancements in the collection of cells and fluid waste and how it is utilized prior to disposal,” said Dr. Carl Schwartz, Interim Chief Executive Officer of Skyline Medical. “The first of these developments may include point-of-care companion testing that assists oncologists, both in operating rooms and in interventional radiology suites, in personalizing treatments based on results of the fluid collected. In addition, testing of the cells that are sloughed off during procedures may provide physicians with valuable information as to the progress of a surgery. The sale of diagnostic tests in conjunction with STREAMWAY provides an attractive opportunity to leverage our sales and marketing organization, while providing both new and enhanced sources of revenue to Skyline.”