Nicox shares soar on Zerviate OK; Gemphire CEO resigns; Array, Ono team up on a $187M deal

→  Nicox’s Zerviate received FDA approval today and $COX stocks have soared in response to the announcement. The company previously ran into trouble when a drug it out-licensed to Bausch + Lomb was delayed due to inadequacies at the company’s manufacturing facility. “Receiving approval from the U.S. FDA for Zerviate is a huge milestone for Nicox and partnering discussions are underway for U.S. commercialization rights,” commented Michele Garufi, the CEO of Nicox. Shares are up more than 20%.

→  Mina Sooch has resigned as president, CEO, and director of Gemphire, citing “personal reasons.” The company has struggled financially and its drug candidate, gemcabene, in-licensed from Pfizer, has experienced roadblocks that are preventing it from being developed. Pfizer has the right to get the drug back if Gemphire does not succeed in commercializing it. Board member Dr. Steven Gullans will fill the role of president and CEO until the company finds a replacement.

→  Array $ARRY and Ono teamed up with a license, development an commercialization deal for two novel oncology compounds: binimetinib and encorafenib. Both drugs are currently in phase III trials. Array gets $31.6 million up front and up to $156 million in milestones. Ono now has the rights to develop and commercialize the drugs in Japan and South Korea, while Array continues to do so in the US, Canada, and Israel.

The best place to read Endpoints News? In your inbox.

Comprehensive daily news report for those who discover, develop, and market drugs. Join 44,800+ biopharma pros who read Endpoints News by email every day.

Free Subscription

Sr. Manager, Regulatory Affairs, CMC
CytomX Therapeutics San Francisco, CA
Marketing Associate - Demand Generation
Catalytic Data Science Charleston, SC
Associate Principal, Life Sciences Partnerships
Flatiron Health New York City or San Francisco

Visit Endpoints Careers ->