Latest news with #NaV1.7
Yahoo
28-05-2025
- Business
- Yahoo
Eli Lilly to Expand Pain Pipeline With $1B SiteOne Buyout Offer
Eli Lilly LLY recently announced that it has entered into a definitive agreement to acquire the privately held clinical-stage company SiteOne Therapeutics in a deal valued at $1 billion. Through this acquisition, LLY intends to strengthen its neuroscience pipeline and advance non-opioid medicines for pain management. Once the deal is closed, the company will add SiteOne's lead asset, STC-004, to its pipeline. This investigational phase II-ready drug belongs to a class of drugs called Nav1.8 inhibitors that block the channels involved in transmitting pain signals. This approach intends to replace the highly addictive opioid-based medications. In February, SiteOne announced positive results from an early-stage study on STC-004, which showed that the drug was safe and well-tolerated at all dose levels while also improving pain tolerance. The deal will also add other investigational drugs to LLY's pipeline, which are being developed to treat pain, cough and other conditions involving hyperexcitability of the peripheral nervous system. Though Eli Lilly did not provide a breakdown of the financial details of the deal, it did mention that the sum of $1 billion is inclusive of upfront and milestone payments. Founded in 2010, SiteOne has been garnering interest from big pharma for its non-opioid pipeline. Toward the end of last year, it closed a $100 million funding round led by Novo Holdings, the parent company of pharma giant Novo Nordisk NVO. SiteOne also has a partnership with Vertex Pharmaceuticals VRTX, signed in 2022, to advance NaV1.7 inhibitors for the treatment of pain. As seen in the chart below, Eli Lilly's shares are in line with the industry in the year-to-date period. Image Source: Zacks Investment Research The transaction seems to be a strategic fit for Eli Lilly, which is advancing multiple pain candidates like SSTR4 agonist mazisotine, P2X7 inhibitor LY3857210 and epiregulin antibody LY3848575 across separate mid-stage studies. The addition of STC-004 is likely to diversify the company's existing non-opioid pain pipeline. Notably, the mechanism utilized by STC-004 was validated earlier this year when the FDA approved Vertex Pharmaceuticals' Journavx — also a Nav1.8 inhibitor — for treating adults with moderate-to-severe acute pain. Following this approval, the VRTX drug is the first and only non-opioid oral pain signal inhibitor and also the first new class of pain medicine to be approved in more than 20 years. The deal also benefits SiteOne as it lacks the commercial infrastructure and expertise needed to bring a drug to market, areas whereas Eli Lilly is already well established. Eli Lilly and Company price | Eli Lilly and Company Quote Eli Lilly currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Business Upturn
01-05-2025
- Business
- Business Upturn
Channel Therapeutics Provides Announcement on 2024 Annual Report to Comply with NYSE American Listing Rules
By GlobeNewswire Published on May 2, 2025, 02:00 IST FREEHOLD, N.J., May 01, 2025 (GLOBE NEWSWIRE) — Channel Therapeutics Corporation, ('Channel' or the 'Company'), (NYSE American: CHRO), a pioneer in the development of non-opioid pain treatment therapeutics, today advises that, as previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission on March 27, 2025, the audited financial statements contained an audit opinion from its independent registered public accounting firm that included a going concern emphasis of matter paragraph. Release of this information is required by Sections 410(h) and 610(b) of the NYSE American LLC Company Guide. This announcement does not represent any change or amendment to the Company's consolidated financial statements or to its Annual Report on Form 10-K for the year ended December 31, 2024. About Channel Channel Therapeutics Corporation is a clinical-stage biotechnology company focused on developing and commercializing novel, non-opioid, non-addictive therapeutics to alleviate pain. The Company's initial clinical focus is to selectively target the sodium ion-channel known as NaV1.7 for the treatment of various types of chronic pain, acute and chronic eye pain and post-surgical nerve blocks. For company updates and to learn more about Channel, visit or follow us on social media. Channel Media and Investor Inquires: For Investor Inquiries:Mike MoyerManaging Director, LifeSci Advisors, LLC [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
18-04-2025
- Business
- Yahoo
EXCLUSIVE: Ligand Subsidiary Pelthos Therapeutics To Combine with Channel Therapeutics Creating Pain Medicines Focused Entity
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) and Channel Therapeutics Corporation (NYSE:CHRO) on Thursday signed a definitive merger agreement to combine Ligand's wholly owned subsidiaries, Pelthos Therapeutics Inc. and LNHC, Inc. (collectively Pelthos) with CHRO Merger Sub Inc., a wholly owned subsidiary of Channel. The merger will be supported by $50 million in capital raised from a group of strategic investors led by Murchinson. Under the merger agreement, Channel will acquire 100% of Pelthos' issued and outstanding equity interests, change its name to Pelthos Therapeutics, and trade on the NYSE American exchange under the ticker PTHS. Also Read: In connection with the transaction, Ligand has agreed to invest $18 million in the combined company, and the Investor Group has agreed to invest $32 million in a total of $50 million. Upon completing the transaction, Scott Plesha, CEO of Pelthos, will become CEO of the combined company, and Frank Knuettel II, CEO of Channel Therapeutics, will become CFO. The transaction is expected to close in the summer of 2025. The combined company will initially focus on accelerating the commercialization of Pelthos' Zelsuvmi (berdazimer) topical gel, 10.3%, for Molluscum contagiosum infections in adults and pediatric patients one year and older. The U.S. Food and Drug Administration (FDA) approved Zelsuvmi in 2024. It is the first and only prescription therapy for molluscum infections approved for use at home by patients, parents, and caregivers. Ligand is entitled to a 13% royalty on worldwide sales of Zelsuvmi. The combined company will also retain Channel's existing NaV 1.7 development programs for various types of chronic pain, acute and chronic eye pain, and post-surgical nerve blocks. In December 2024, Channel Therapeutics announced that it achieved its endpoints in two pre-clinical in vivo models of the company's nerve block formulations for acute pain, showing material improvement in efficacy and duration over the existing standard of care, bupivacaine. An update on the Channel's animal efficacy study for its eye pain program will be forthcoming. 'This transaction presents a compelling opportunity to launch a commercial-ready product, with significant financial backing from Murchinson, that has the potential to deliver both near and long-term value to our shareholders,' said Todd Davis, CEO of Ligand. Frank Knuettel II, CEO of Channel Therapeutics, commented, 'We have performed extensive due diligence on the Zelsuvmi market opportunity and their team and operations, and we believe this is an extraordinary opportunity for current Channel shareholders. Strategically, it provides the potential for near-term revenue generation from an FDA-approved drug, the opportunity to advance Channel's existing NaV 1.7 programs, and expanded capitalization from strong, long-standing investors.' Molluscum contagiosum is a poxvirus and one of the most common skin infections, afflicting an estimated 16.7 million people in the U.S. Price Action: LGND stock is up 2.08% at $106.80 during the premarket session at the last check Thursday, and CHRO stock closed at $1.26 on Wednesday. Read Next:UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? LIGAND PHARMACEUTICALS (LGND): Free Stock Analysis Report This article EXCLUSIVE: Ligand Subsidiary Pelthos Therapeutics To Combine with Channel Therapeutics Creating Pain Medicines Focused Entity originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
12-03-2025
- Business
- Yahoo
Dogwood Therapeutics, Inc. Announces Conversion of Existing $19.5M in Debt to Equity, Strengthening Balance Sheet Moving Forward
Largest shareholder, CK Life Sciences Int'l., (Holdings) Inc. agrees to conversion of debt into equity, removing all existing debt from Dogwood's balance sheet ATLANTA, March 12, 2025 (GLOBE NEWSWIRE) -- Dogwood Therapeutics, Inc. (Nasdaq: DWTX) ('Dogwood' or the 'Company'), a development-stage biopharmaceutical company focused on advancing first-in-class, non-opioid, treatments for chronic and acute pain, announces that its largest shareholder, CK Life Sciences Int'l., (Holdings), Inc. ('CKLS') has agreed, through its wholly-owned subsidiary, Conjoint Inc. ('Conjoint'), to assign to the Company all outstanding indebtedness under the previously existing $19.5 million Loan Agreement plus accrued interest in exchange for 284.2638 shares of preferred equity of the Company, effective today. 'We believe the decision by CKLS to exchange the outstanding loan amounts for equity in the Company is anchored to its conviction in Halneuron®, NaV 1.7 as a priority target for reducing pain. The conversion further underscores its confidence in the Dogwood management teams' ability to execute the Halneuron® Phase 2b chemotherapy-induced neuropathic pain ('CINP') program,' said Greg Duncan, Dogwood's Chairman and Chief Executive Officer. 'This agreement enables us to remove all existing debt from our balance sheet, which, combined with the potential for Halneuron® to be the first FDA approved therapy to treat CINP, we believe makes us a more attractive investment opportunity moving forward.' The strategic financing, initially provided by CKLS in October 2024, ensures the Company has sufficient capital to recruit patients through a planned interim assessment of its ongoing Phase 2b CINP trial in Q4 of this year without the burden of making debt payments as originally structured. Dosing of the first patient in its Phase 2b clinical trial, referred to as the HALT-CINP (Halneuron® Treatment of Chemotherapy-Induced Neuropathic Pain) trial, is anticipated in the near term. Pursuant to the Debt Exchange and Cancellation Agreement entered into between Conjoint and the Company on March 12, 2025, the principal amount of all loans made to the Company under the Loan Agreement, along with accrued interest through March 12, 2025, will be deemed repaid by the Company and all of the Company's obligations with respect to the principal amount and accrued interest will be satisfied in full and cancelled. In exchange, the Company has agreed to issue to Conjoint 284.2638 shares of Series A-1 Non-Voting Convertible Preferred Stock, par value $0.0001 per share ('A-1 Preferred Stock'). Each share of A-1 Preferred Stock will be convertible into 10,000 shares of the Company's common stock, subject to and contingent upon approval of the Company's stockholders and relevant Nasdaq rules and regulations. The terms of the A-1 Preferred Stock are substantially the same as the Company's Series A Non-Voting Convertible Preferred Stock, except that the terms of the A-1 Preferred Stock do not provide for any cash settlement or dividend rights. Halneuron® is a first-in-class, NaV 1.7 specific voltage gated sodium channel inhibitor being developed as an alternative to chronic pain treatment with opioids. Patients treated with Halneuron® demonstrated a statistically significant reduction in cancer-related pain in a previous Phase 2 clinical trial with an acceptable safety profile. Halneuron® has been evaluated in over 700 patients in a series of Phase 1 and Phase 2 studies and shows no signs of addiction potential. About Dogwood Therapeutics Dogwood Therapeutics (Nasdaq: DWTX) is a development-stage biopharmaceutical company focused on developing new medicines to treat pain and fatigue-related disorders. The Dogwood research pipeline includes two separate mechanistic platforms with a non-opioid analgesic program and an antiviral program. The proprietary, non-opioid, NaV 1.7 analgesic program is centered on our lead development candidate, Halneuron®, which is a highly specific voltage-gated sodium channel modulator, a mechanism known to be effective for reducing pain transmission. In clinical studies, Halneuron® treatment has demonstrated pain reduction in pain related to general cancer and in pain related to chronic chemotherapy-induced neuropathic pain ('CINP'). Interim data from the forthcoming Halneuron® Phase 2 CINP study are expected in Q4 of 2025. Dogwood's antiviral program includes IMC-1 and IMC-2, which are novel, proprietary, fixed-dose combinations of anti-herpes antivirals and the anti-inflammatory agent celecoxib. These combination antiviral approaches are being applied to the treatment of illnesses believed to be related to reactivation of previously dormant herpesviruses, including fibromyalgia ('FM') and Long-COVID ('LC'). IMC-1 is poised to progress into Phase 3 development as a treatment for FM and is the focus of external partnership activities. IMC-2 has been assessed in both active control and double-blind, placebo-controlled clinical trials and, in both cases, demonstrated successful reduction of the fatigue associated with LC. The company has reached an agreement with FDA on using reduction in fatigue as the primary endpoint for future LC research and is currently planning to advance IMC-2 into Phase 2b research. For more information, please visit Follow Dogwood Therapeutics Email Alerts: LinkedIn: Twitter: Facebook: Forward-Looking Statements Statements in this press release contain 'forward-looking statements,' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as 'anticipate,' 'believe,' 'contemplate,' 'could,' 'estimate,' 'expect,' 'intend,' 'seek,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'suggest,' 'target,' 'aim,' 'should,' "will,' 'would,' or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Dogwood's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including risks related to the completion, timing and results of current and future clinical studies relating to Dogwood's product candidates. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled 'Risk Factors' in the Amended Annual Report on Form 10-K/A for the year ended December 31, 2023 and the Company's quarterly report on Form 10-Q for the quarterly period ended September 30, 2024, which are filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Dogwood undertakes no duty to update such information except as required under applicable law. 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