Winston-Salem, NC -- (SBWIRE) -- 01/07/2013 -- Amicus Therapeutics (NASDAQ:FOLD) $3.58, Today announced its full-year 2013 strategic outlook and financial guidance.
Cash, cash equivalents, and marketable securities totaled $99.1 million at December 31, 2012 compared to $55.7 million at December 31, 2011. Amicus expects full-year 2013 net cash spend between $52 million and $58 million. The current cash position and anticipated Fabry program reimbursements from GSK are projected to fund operations into the second half of 2014.Amicus is leveraging its pharmacological chaperone technology platform to develop next-generation medicines for a range of rare and orphan diseases, with a focus on improved therapies for lysosomal storage disorders. During 2013, Amicus and GSK are committed to advancing migalastat HCl for Fabry disease. Amicus will also continue to advance its pharmacologic chaperone technology platform to develop next-generation therapies (ERTs) for Pompe and additional lysosomal storage disorders. These programs include novel small molecules co-administered with existing enzyme replacement products, as well as proprietary next-generation enzyme replacement therapies that are co-formulated with pharmacologic chaperones.
What They Do: Amicus Therapeutics is a biopharmaceutical company at the forefront of developing therapies for rare and orphan diseases.
Athenahealth, Today announced that it has signed a definitive agreement to acquire Epocrates (NASDAQ:EPOC) $9.62. The board of directors of each of athenahealth and Epocrates has agreed to a price of $11.75 per share, in cash, for an aggregate purchase price of approximately $293 million. The purchase price represents a 22 percent premium over the closing price per share of Epocrates on NASDAQ on Friday, January 4, 2013. This is an all-cash offer for all outstanding shares of Epocrates’ common stock, and athenahealth intends to finance this acquisition using available cash and funds available from its existing credit facility. The closing of the transaction is subject to the approval of Epocrates shareholders and other customary closing conditions and is currently expected to occur early in the second quarter of 2013. Epocrates shareholders representing approximately 17.5% of the outstanding common stock have agreed to vote their shares in favor of the transaction.
What They Do: Epocrates is recognized for developing the #1 medical application among U.S. physicians for clinical content, practice tools and health industry engagement at the point of care.
ChemoCentryx (NASDAQ:CCXI) $11.41. Today announced the initiation of a Phase I clinical trial for CCX507, the Company's novel, wholly-owned inhibitor of the chemokine receptor known as CCR9. The double-blind, placebo-controlled study will evaluate the safety, tolerability and pharmacokinetics of CCX507 in healthy adult subjects.Thomas J. Schall, Ph.D., President and Chief Executive Officer of ChemoCentryx, commented, "Our CCR9 inhibitor franchise has the unique distinction of advancing multiple orally administered experimental medicines into clinical development. CCR9 has been implicated in inflammatory bowel disease including Crohn's disease, ulcerative colitis, and related disorders. We are delighted that our de novo discovery efforts have yielded a new generation of more potent CCR9 inhibitors, exemplified by CCX507, allowing us to expand the fight against these debilitating diseases."
What They Do: ChemoCentryx, Inc. is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing orally-administered therapeutics that target the chemokine and chemoattractant systems in order to treat autoimmune diseases, inflammatory disorders and cancer.
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