Stock on the Move: Earth Science Tech Inc (ETST), Celgene Corporation (CELG), Arena Pharmaceuticals, Inc. (ARNA)
Earth Science Tech Inc (OTCMKTS:ETST) reported the plunge of -17.86% and closed at $1.38, with the total traded volume of 48,674.00 shares. During last trade its minimum price was $1.31 and it gained its highest price of $1.68 and has a total of 40.91 million outstanding shares.
On March 6, 2017 Earth Science Tech, Inc. (ETST), an innovative biotech company focused on cannabis (industrial hemp) and cannabinoid research and development, nutraceuticals, pharmaceuticals, and medical devices based company is proud to announce that its wholly owned subsidiary Cannabis Therapeutics timeline for its cannabis cannabinoid-based nutraceutical patent and generic pharmaceutical drug completion.
At a meeting with the company’s Advisory Board on Tuesday, February 28th at Le Centre Québecois d’Innovation en Biotechnologie (CQIB) in Laval, Québec; the scientists concluded that the improved CBD Hemp Oil food supplement was ready to move to prototyping, and then to be fast tracked to commercialization. In addition, two cannabinoid-based generic pharmaceutical drugs will be ready for pre-market clinical trials related to drug bioavailability by Q3 2017. Depending on the time needed to properly conduct the clinical trials, both of the pharmaceutical drugs looks to be completed by the end of 2017 or beginning of 2018.
The first or these two generic drugs, an anti-breast cancer drug, is an important advance for the company as breast cancer affects more women worldwide than any other cancer. The components of the anti-breast cancer drug that Cannabis Therapeutics is bringing to market are contained in the World Health Organization’s current Model List of Essential Medicines (2015). The WHO Model Complementary List indicates the essential medicines needed to treat priority diseases, such as breast cancer, by any healthcare system.
Celgene Corporation (NASDAQ:CELG) showing jumped of 0.58% and closed at $124.77, after gaining total volume of 2.29M shares. Its earnings per share (EPS) is $2.49 and its beta value stands at 1.78 points and has total market capitalization of $96.77 billion and a total of 777.97 million outstanding shares.
Celgene Corporation (CELG) on March 5, 2017 announced that results from its phase 4 UNVEIL trial evaluating OTEZLA (apremilast), the Company’s oral, selective inhibitor of phosphodiesterase 4 (PDE4), in patients with moderate plaque psoriasis with a body surface area (BSA) of 5-10 percent, were presented at the American Academy of Dermatology’s Annual Meeting in Orlando, Florida.
The UNVEIL study evaluated the clinical efficacy and safety of oral OTEZLA 30 mg twice daily compared with placebo at week 16 in 221 patients with moderate plaque psoriasis [defined as a BSA involvement of 5-10 percent and a static Physician’s Global Assessment (sPGA) of 3] who were naïve to systemic and biologic therapy. At baseline, more than 80 percent of patients enrolled in the trial had previously received topical therapy. The primary endpoint was the mean percentage change from baseline in the product of PGA and BSA (PGA×BSA) at week 16. The PGAxBSA composite tool is a simple assessment that has been developed as a measure of clinically meaningful responses of psoriasis patients in clinical trials.
At week 16, patients who received OTEZLA had a significantly greater improvement in mean percentage change from baseline in PGA×BSA compared with those who received placebo (-48.1 vs. -10.2, respectively; P<0.0001). In addition, a 75 percent or greater improvement in PGA×BSA score was achieved by 35.1 percent of patients treated with OTEZLA vs. 12.3 percent of patients treated with placebo (P<0.0001). A significantly greater percentage of patients receiving OTEZLA versus placebo achieved a PGA score of 0 (clear) or 1 (almost clear) at week 16 (30.4 percent vs. 9.6 percent; P<0.0001).
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) increased 1.40% closed at $1.45 and traded with total volume of 1.86M shares, while the average trading remained 1.87M shares. During last trade its minimum price was $1.44 and it gained the highest price of $1.48. Its market capitalization was $355.93 million.
Arena Pharmaceuticals, Inc. (ARNA) on March 15, 2017 provided a corporate update and reported financial results for the fourth quarter and full-year ended December 31, 2016.
“We are very pleased with our progress in 2016 as we have positioned the Company to deliver results on multiple Phase 2 programs in 2017. In the last nine months since the arrival of the new management team, we prioritized our Phase 2 programs; strengthened our board and team to support our strategy; implemented cost reduction measures; renegotiated our agreement with Eisai; and took a methodical approach to maximizing the value of our assets,” said Amit Munshi, Arena’s President and CEO.
As previously disclosed, in February 2017, Arena appointed Jayson Dallas, M.D., Oliver Fetzer, Ph.D., and Garry A. Neil, M.D. as independent directors to the Company’s Board of Directors.
“This year we expect to report results from all three of our proprietary Phase 2 programs, beginning with ralinepag in mid-year for pulmonary arterial hypertension,” Mr. Munshi stated. “For etrasimod, we remain focused on maximizing the broad clinical utility of this compound in a time and cost effective manner. We are pleased to have initiated Phase 2 trials in both dermatologic extraintestinal manifestations in inflammatory bowel disease patients and pyoderma gangrenosum. We also plan to initiate a study in primary biliary cholangitis this year. Additionally, we have made important adjustments to the Phase 2 ulcerative colitis trial to ensure a robust data readout by year-end 2017.”