On Thursday, Shares of Aurinia Pharmaceuticals Inc (NASDAQ:AUPH), added 25.93% and closed at $5.10 in the last trading session. The last trading range of the stock ranges between $4.93 and $5.69. Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH / TSX:AUP) (“Aurinia” or the “Company”) a clinical stage biopharmaceutical company focused on the global immunology market, recently declared 24-week data in all 10 patients from the AURION study, an open-label exploratory study to assess the short-term predictors of response using voclosporin (23.7mg BID) in combination with mycophenolate mofetil (MMF) and oral corticosteroids in patients with active lupus nephritis (LN). The data are being presented by Robert Huizinga, Vice President of Clinical Affairs at Aurinia at the 10th Annual European Lupus Meeting in Venice, Italy.
The primary objective of the study is to examine biomarkers of disease activity at eight weeks and their ability to predict response at 24 and 48 weeks.
In this study, 70% (7/10) patients achieved complete remission (CR) at 24 weeks as measured by a urinary protein creatinine ratio (UPCR) of ≤ 0.5mg/mg, eGFR within 20% of baseline and concomitant steroid dose of <5mg/day. Of the 10 patients that achieved a reduction of UPCR of ≥ 25% at 8 weeks, 80% were responders (≥ 50% reduction in UPCR over baseline) at 24 weeks and 70% were in CR at 24 weeks. In addition, inflammatory markers such as C3, C4 and anti-dsDNA all continued to normalize to 24 weeks. Voclosporin was well-tolerated with no unexpected safety signals observed.
Boston Scientific Corporation (NYSE:BSX), jumped 0.21% and closed at $23.48 in the last trading session. The last trading range of the stock ranges between $23.29 and $23.56. The company’s Market capitalization is $32.16 Billion with the total Outstanding Shares of 1.36 Billion. Boston Scientific Corporation (BSX) will webcast its conference call discussing financial results and business highlights for the third quarter ended September 30, 2016 on Wednesday, October 26, 2016 at 8:00 a.m. ET.
The call will be hosted by Mike Mahoney, chairman and chief executive officer, and Dan Brennan, executive vice president and chief financial officer.
Merrimack Pharmaceuticals Inc (NASDAQ:MACK), gained 0.34% and closed at $5.98 in the last trading session. The last trading range of the stock ranges between $5.95 and $6.12. During the 52-week trading session the minimum price at which share price traded, registered at $4.39 and reached to max level of $10.85. Merrimack Pharmaceuticals, Inc. (MACK) recently declared a major corporate restructuring with the objective of prioritizing its research and development on a focused set of systems biology-derived oncology products and strengthening its financial runway. As part of this move, Merrimack is right away implementing a 22% reduction in headcount and eliminating more than $200 million in expected costs over the next two years. In line with this restructuring, the Board of Directors has accepted the resignation of President and CEO Robert Mulroy, effective right away.
In order to accelerate this change, the Board of Directors has designated Chairman of the Board Gary Crocker as interim President and CEO. “The Board is committed to focusing our resources. This major restructuring will allow us to plannedally align our pipeline with our core capabilities and prioritize ongoing clinical development efforts while improving our financial flexibility,” stated Mr. Crocker. “We believe this sharper focus will drive efficiency and innovation and promote the interests of not only our shareholders and employees, but also of cancer patients worldwide. The realization of shareholder value will become as intense a focus for Merrimack as our strength in innovation and development. The Board is convinced that there is tremendous inherent value within Merrimack that can be unlocked.”