US specialty pharma firm Insys Therapeutics (Nasdaq: INSY) says that the US Food and Drug Administration has granted orphan drug designation to its pharmaceutical cannabidiol (CBD) for the treatment of Lennox-Gastaut syndrome, a rare pediatric-onset epilepsy. Insys Therapeutics Inc (NASDAQ:INSY) net profit margin is 36.90% and weekly performance is 9.19%. On last trading day company shares ended up $30.90. Analysts mean target price for the company is $52.50. Insys Therapeutics Inc (NASDAQ:INSY) distance from 50-day simple moving average is -1.47%.
Sorrento Therapeutics (Nasdaq:SRNE) announced that it has submitted a draft registration statement on Form S-1 on a confidential basis with the U.S. Securities and Exchange Commission for a possible initial public offering of shares of common stock of its wholly-owned subsidiary, Ark Animal Health, Inc. (“Ark”). The number of shares to be offered and the price range for the offering have not yet been determined. Sorrento Therapeutics Inc (NASDAQ:SRNE) shares advanced 7.79% in last trading session and ended the day on $6.64. SRNE Gross Margin is 53.80% and its return on assets is -56.10%. Sorrento Therapeutics Inc (NASDAQ:SRNE) quarterly performance is -51.03%.
Akebia Therapeutics, Inc. (NASDAQ:AKBA), a biopharmaceutical company focused on harnessing the potential of hypoxia-inducible factor (HIF) biology to develop and commercialize novel therapeutics to treat kidney disease and other serious diseases, announced that data on its lead clinical compound, AKB-6548, will be presented at the 2014 European Renal Association-European Dialysis and Transplant Association (ERA-EDTA) 51(st) Congress being held in Amsterdam May 31 — June 3, 2014. AKB-6548 is a once-daily, oral hypoxia-inducible factor prolyl hydroxylase (HIF-PHD) inhibitor in development for the treatment of anemia related to chronic kidney disease (CKD). Akebia Therapeutics Inc (NASDAQ:AKBA) shares moved up 5.26% in last trading session and was closed at $28.62, while trading in range of $26.76-$28.95. Akebia Therapeutics Inc (NASDAQ:AKBA) year to date performance is 7.23%.
Can-Fite BioPharma Ltd. (NYSE MKT: CANF) (TASE:CFBI), a biotechnology company with a pipeline of proprietary small molecule drugs that address inflammatory and cancer diseases, announced the Company will exhibit at the Bio International Convention in San Diego on June 23(rd) through 26(th) , 2014 at the Israel Office of the Chief Scientist’s booth #611. The Company’s CEO, Dr. Pnina Fishman and its Director of Business Development, Dr. Sari Fishman will conduct one-on-one meetings with potential partners, as well as present findings from Can-Fite’s clinical programs to scientists and medical doctors attending the convention. Can Fite Biopharma Ltd (ADR) (NYSEMKT:CANF) ended the last trading day at $3.49. Can Fite Biopharma Ltd (ADR) (NYSEMKT:CANF) showed a negative weekly performance of -2.87%.
StemCells, Inc. (Nasdaq:STEM) reported positive interim results from its Phase I/II clinical trial of the Company’s proprietary HuCNS-SC® human neural stem cell platform in dry age-related macular degeneration (AMD) evening at the 12th annual meeting of the International Society for Stem Cell Research (ISSCR) in Vancouver, Canada. StemCells Inc (NASDAQ:STEM) weekly performance is 35.03%. On last trading day company shares ended up $2.12. Analysts mean target price for the company is $4.00. StemCells Inc (NASDAQ:STEM) distance from 50-day simple moving average is 52.23%.