On Monday, Shares of Mast Therapeutics Inc (NYSEMKT:MSTX), added 6.25% and closed at $0.0850 in the last trading session. MSTX stock opened its last trade at $0.10 and after floating in a range of $0.08 to $0.10. The company’s Market capitalization is $16.71 Million with the total Outstanding Shares of 211.82 Million. During the 52-week trading session the minimum price at which share price traded, registered at $0.08 and reached to max level of $0.71. Mast Therapeutics, Inc. (NYSE MKT: MSTX) recently declared that its wholly-owned partner, Aires Pharmaceuticals, Inc., has reached a collaborative agreement with Philips Respironics, Inc., the sleep and respiratory care business of Royal Philips (NYSE: PHG, AEX: PHIA) related to the supply of Philips’ I-neb® Adaptive Aersol Delivery (AAD™) devices and related consumables for the nebulized delivery of the Company’s lead product candidate, AIR001, a sodium nitrite solution for intermittent inhalation. The I-neb® handheld AAD™ system is a small, portable and virtually silent vibrating mesh technology nebulizer system designed to deliver more precise, reproducible doses of medication faster than conventional jet or ultrasonic nebulizers.
“As we declared last month, we are accelerating activities related to our AIR001 program with support for ongoing, investigator-sponsored Phase 2 clinical studies of AIR001 being conducted at three separate prestigious research institutions,” said Brian M. Culley, Chief Executive Officer of Mast. “As part of this commitment, we are happy to be working with Philips, a recognized global leader in the development of aerosol delivery devices and a leading provider of innovative solutions for the global respiratory market. Our agreement has been extended to include not only two of the Phase 2 studies of AIR001 presently underway, but also future clinical studies and will remain in place until 2020 or sooner, if replaced with a commercial supply agreement.”
PTC Therapeutics, Inc. (NASDAQ:PTCT), DROPPED -39.94% and closed at $7.97 in the last trading session. PTCT stock opened its last trade at $10.20 and after floating in a range of $7.90 to $10.30. The company’s Market capitalization is $266.92 Million with the total Outstanding Shares of 34.25 Million. During the 52-week trading session the minimum price at which share price traded, registered at $5.27 and reached to max level of $35.75. PTC Therapeutics, Inc. (PTCT) recently offered a regulatory update on Translarna™ (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD).
U.S. regulatory update
PTC Therapeutics declared recently that at the end of last week, the Office of Drug Evaluation I (ODE-I) of the U.S. Food and Drug Administration (FDA) denied the company’s first appeal of the refuse to file letter issued by the FDA’s Division of Neurological Products (DNP) on February 22, 2016 regarding PTC’s New Drug Application (NDA) for Translarna for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD).
The company intends to escalate its appeal to the next supervisory level of the FDA. This is an iterative process and the company anticipates that multiple cycles of appeals to progressively higher levels of the FDA may be required.