On Tuesday, Shares of Biostar Pharmaceuticals Inc (NASDAQ:BSPM), added 61.81% and closed at $5.55 in the last trading session. The last trading range of the stock ranges between $3.60 and $7.06. The company’s Market capitalization is $12.38 million with the total Outstanding Shares of 2.21 million. During the 52-week trading session the minimum price at which share price traded, registered at $1.08 and reached to max level of $7.06. Biostar Pharmaceuticals, Inc. (BSPM) (“Biostar”), a PRC-based manufacturer and marketer of pharmaceutical and health supplement products in China for various diseases and conditions, recently declared that it will launch its new topical health product called “Easy Breathing” designed to treat rhinitis and sinusitis for sales in the PRC in November 2016. Rhinitis is irritation and inflammation of the mucous membrane inside the nose. Sinusitis is an inflammation or swelling of the tissue lining the sinuses.
This new product was developed by the Company’s R&D team over the past 3 years. Having being developed based upon the principles of the traditional Chinese medicine, the product is designed to have effects of relieving stuffy nose, inhibiting nasal bacteria and viruses, and mitigating effects on the inflammation of nasal mucosa. It will be manufactured, distributed and sold in the PRC.
Wang Ronghua, Biostar’s Chairman commented: “This new product was developed by our R&D personnel in response to market demand. It offers the benefits of low cost and short course of treatment. In connection with the launch of this product, we intend to utilize the Internet marketing and advertising, counting WeChat and other similar media.”
The Chairman continued: “In the past several months, we have been preparing various steps necessary for the launch of this new product. Though we do not anticipate any noteworthysales revenue in 2016, we expect to sell about 400,000 units within the next 2 years, which is expected to yield about RMB50 million (or US$7.5 million).”
Exelixis, Inc. (NASDAQ:EXEL), jumped 0.63% and closed at $12.69 in the last trading session. The last trading range of the stock ranges between $12.13 and $12.94. During the 52-week trading session the minimum price at which share price traded, registered at $3.55 and reached to max level of $15.58. Exelixis, Inc. (EXEL) recently declared detailed results from the CABOSUN randomized phase 2 trial of cabozantinib in patients with formerly untreated advanced renal cell carcinoma (RCC) with intermediate- or poor-risk disease per the International Metastatic Renal Cell Carcinoma Database Consortium (IMDC). Principal investigator Toni K. Choueiri, M.D. will present detailed data from late-breaking CABOSUN abstract [#LBA30_PR] recently in the Presidential Symposium 3 session, starting at 16:30 CEST (local Copenhagen time) / 10:30 a.m. EDT / 7:30 a.m. PDT at the European Society for Medical Oncology (ESMO) 2016, which is being held October 7 – 11, 2016 in Copenhagen.
CABOSUN was conducted by The Alliance for Clinical Trials in Oncology as part of Exelixis’ partnershipwith the National Cancer Institute’s Cancer Therapy Evaluation Program (NCI-CTEP).