Key Developments: Emisphere Technologies Inc (EMIS.OB)
0.24USD
24 May 2013
$-0.00 (-0.83%)
$0.24
$0.25
$0.25
$0.23
49,000
44,518
$0.38
$0.05
Latest Key Developments (Source: Significant Developments)
Emisphere Technologies Inc Appoints Alan L. Rubino as President and Chief Executive Officer
Emisphere Technologies Inc announced the appointment of Alan L. Rubino to the position of President and Chief Executive Officer, effective immediately. Mr. Rubino has also been elected to the Company's Board of Directors. Timothy G. Rothwell, the newly appointed Chairman of the Company's Board of Directors. Full Article
Emisphere Technologies, Inc. Reports Update On The Clinical Development Of Oral Calcitonin In Osteoarthritis And Osteoporosis
Emisphere Technologies, Inc. announced that Novartis Pharma AG (Novartis) has informed the Company that it will not pursue further clinical development of the investigational drug SMC021 (oral calcitonin) being studied by Nordic Bioscience (the exclusive license partner of Novartis) as a treatment option in two indications, osteoarthritis (OA) and for post-menopausal osteoporosis (OP) and that it will not seek regulatory submission for SMC021 in OA or OP indications. Novartis advised the Company that its decision to stop the clinical program of SMC021 in both indications was based on analysis and evaluation of data from three Phase III clinical trials (two in OA and one in OP) that showed that while SMC021 displayed a favorable safety profile, it failed to meet key efficacy endpoints in all three trials. Emisphere will need to further analyze and evaluate the data from the three studies in osteoporosis and osteoarthritis in order to understand the results and determine next steps. The Company's other development programs are continuing with Novo Nordisk A/S (Novo Nordisk) using Emisphere's Eligen Technology to develop and commercialize oral formulations of Novo Nordisk's insulins and GLP-1 receptor agonists, with a potential GLP-1 drug currently in a Phase I clinical trial; and with the Company's internally developed oral formulation of Eligen B12 (1000 mcg.) for use by B12 deficient individuals undergoing evaluation of regulatory and commercial development options. Full Article
Emisphere Technologies, Inc. Announces Agreements To Raise $7.5 Million In Private Placement Transactions
Emisphere Technologies, Inc. announced it has entered into a securities purchase agreement with certain institutional investors pursuant to which the Company has agreed to sell an aggregate of approximately 4.3 million shares of its common stock and warrants to purchase a total of approximately 3 million shares of its common stock for total gross proceeds of approximately $3.75 million. Each unit, consisting of one share of common stock and a warrant to purchase 0.7 shares, will be sold at a purchase price of $0.872. The Company also announced that, in connection with the above private placement, it has entered into a separate securities purchase agreement with MHR Fund Management LLC pursuant to which the Company has agreed to sell an aggregate of approximately 4.3 million shares of its common stock and warrants to purchase a total of approximately 3.0 million shares of its common stock for total gross proceeds of approximately $3.75 million. Each unit, consisting of one share of common stock and a warrant to purchase 0.7 shares of common stock, will be sold at a purchase price of $0.872. The Company expects to receive total net proceeds from both transactions of approximately $7.25 million after deducting fees and expenses and excluding the proceeds, if any, from the exercise of the warrants that will be issued in the transactions. Proceeds from these transactions will be used to fund the Company's operations and to meet the Company's obligations as they may arise. Full Article
Emisphere Technologies, Inc. Receives Notice Of Results From Novartis AG Proof Of Concept Study For Oral PTH For Treatment Of Postmenopausal Osteoporosis
Emisphere Technologies, Inc. announced that Novartis informed Emisphere of the results of its recently completed Proof of Concept study for an oral PTH1-34 using Emisphere's Eligen Technology in post-menopausal women with osteoporosis or osteopenia. Novartis informed Emisphere that, although the study confirmed that oral PTH1-34 was both safe and well-tolerated, several clinical endpoints were not met. Based on the data analyzed, Novartis has terminated the study and anticipates no further work on the oral formulation of PTH1-34. Full Article
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