Key Developments: OXiGENE Inc (OXGN.O)
3.23USD
21 May 2013
$-0.02 (-0.62%)
$3.25
$3.25
$3.35
$3.22
9,919
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$11.76
$3.10
Latest Key Developments (Source: Significant Developments)
Oxigene Inc Announces $5 Million Private Placement
Oxigene Inc announced that it has entered into definitive agreements with institutional accredited investors in a private placement of $5.0 million of zero coupon convertible preferred stock (which are convertible into a total of approximately 1.38 million shares of common stock) and 2 series of warrants potentially exercisable for up to approximately 2.76 million additional shares of common stock, in the aggregate. In addition to the preferred stock not having a required dividend right, the preferred stock will not have any preferences over the Company's common stock, including liquidation rights. Subject to certain ownership limitations, the preferred stock is convertible at any time at the option of the holder into shares of common stock at a conversion price of $3.63 (which represents a price above the closing price of the common stock on the previous trading day). The first series of warrants will allow for the investors to purchase up to approximately 1.38 million shares of common stock at an exercise price of $3.40 per share and are exercisable for 5 years. The second series of warrants will allow for the investors to purchase up to approximately 1.38 million shares of common stock at an exercise price of $3.40 per share and are exercisable for 2 years. OXiGENE has agreed to register the resale of the shares of common stock issuable upon conversion of the preferred stock and upon exercise of the warrants. The offering is expected to close on or about April 12, 2013. Full Article
Oxigene Inc Announces Appointment Of CFO-Form 8-K
Oxigene Inc reported in its Form 8-K that on February 27, 2013, the Board of Directors of OXiGENE, Inc. (Company) appointed Barbara Riching as the Company’s Chief Financial Officer (CFO). Full Article
OXiGENE, Inc. Announces Resignation Of CFO-Form 8-K
OXiGENE, Inc. reported in its Form 8-K that David L. Johnson notified OXiGENE, Inc. (Company) of his intent to resign from his position as part-time Chief Financial Officer (CFO) and principal accounting officer of the Company, effective not later than July 30, 2012, to pursue other interests. The Company has begun a search for a permanent replacement for Mr. Johnson and intends to use an external search firm to assist in identifying qualified candidates. In the interim, the duties of the principal financial officer will be performed by Barbara Riching, Director of Finance of the Company. Full Article
OXiGENE, Inc. Announces Chief Financial Officer Change
OXiGENE, Inc. announced that Jim Murphy's tenure as Chief Financial Officer (CFO) will end at the end of March. Since the Company's restructuring in September 2011 and decision to consolidate its operations in South San Francisco, Mr. Murphy has served in this role as a consultant. Mr. Murphy will be succeeded by David Johnson, an experienced financial executive, who will assume the role of OXiGENE's Principal Financial Executive and Chief Financial Officer at the end of March. Full Article
OXiGENE, Inc. and Azanta A/S Establish Partnership to Provide ZYBRESTAT(TM) for ATC in Europe on Named Patient, Compassionate Use Basis
OXiGENE, Inc. and Azanta Danmark A/S announced that they have established a partnership agreement to provide access to ZYBRESTAT for the treatment of patients in Europe and Canada with anaplastic thyroid cancer (ATC) on a compassionate use basis. OXiGENE's newly-formed Named Patient Program (NPP), to be managed by Azanta, provides a regulatory mechanism to allow healthcare professionals in Europe and Canada to prescribe ZYBRESTAT to individual ATC patients while it is still in development. Under the terms of the agreement, OXiGENE will provide ZYBRESTAT to Azanta. Azanta will serve as exclusive distributor for ZYBRESTAT in the specified territory for this purpose and will provide ZYBRESTAT to physicians solely to treat ATC on a compassionate use basis in the territory covered by the agreement until such time as ZYBRESTAT may obtain marketing approval in that territory. The territory includes the European Union, including the Nordic countries and Switzerland, and Canada, and the agreement may also be expanded to include other countries on a country-by-country basis. OXiGENE and Azanta will cooperate on regulatory activities relating to ZYBRESTAT for the treatment of ATC within the territory. There will be no transfer of ownership of intellectual property rights for ZYBRESTAT to Azanta under the terms of the agreement. Full Article
OXiGENE, Inc. Presents Data From FAVOR Study Of ZYBRESTAT In PCV
OXiGENE, Inc. announced that Dr. Timothy Lai, MD, FRCS, FRCOphth, Honorary Clinical Associate Professor of Ophthalmology from the Chinese University of Hong Kong, presented encouraging data from the FAVOR study of ZYBRESTAT in polypoidal choroidal vasculopathy (PCV) at the 6th Asia-Pacific VitreoRetina Society (APVRS) Congress in Hyderabad, India on December 2, 2011. FAVOR is a Phase 2 study investigating the use of a single intravenous injection of ZYBRESTAT at different doses compared to placebo in patients with PCV, followed by imaging of the retina on days 2, 8, 15, and 28. PCV is a potentially blinding eye disease that involves the growth of tiny, abnormal blood vessels under the retina. The data showed that ZYBRESTAT was well tolerated in the study. The primary objective of the study was to observe the change in the number of polyps from baseline following administration of ZYBRESTAT. Although this number was essentially unchanged, there were some suggestions of activity with a decrease in polyp activity and a reduction in subretinal fluid and retinal edema in patients receiving ZYBRESTAT.The FAVOR study was multicenter, placebo-controlled, double-masked study in Asian patients (N=20) evaluating the use of intravenous ZYBRESTAT for the treatment of PCV, which is seen in approximately 30% of Asian patients presenting with neovascular age-related macular degeneration. Full Article
OXiGENE, Inc. Announces Purchase Agreement for Up to $20 Million With Lincoln Park Capital
OXiGENE, Inc. announced that it has signed a purchase agreement for the sale, from time to time, of up to $20 million of its common stock with Lincoln Park Capital Fund, LLC (LPC), a Chicago-based institutional investor. The proceeds from any sales under this purchase agreement will be used to advance OXiGENE's late and early-stage clinical pipeline. Full Article
OXiGENE, Inc. Announces Encouraging Data From Phase 2 Trial Of ZYBRESTAT In Non-small Cell Lung Cancer
OXiGENE, Inc. announced that it presented updated safety and clinical activity data from the FALCON trial, a stratified randomized, controlled Phase 2 study of ZYBRESTAT (fosbretabulin tromethamine, or CA4P) in patients with non-small cell lung cancer (NSCLC), at the 2011 Annual Meeting of the American Society of Clinical Oncology (ASCO) in Chicago, Illinois. An updated analysis conducted approximately 11 months after the enrollment of the last patient in June 2010 showed that the combination regimen of ZYBRESTAT plus bevacizumab, carboplatin and paclitaxel (ZYBRESTAT Arm) was observed to be well-tolerated with no significant cumulative toxicities when compared with the control arm of the study. In addition, a pre-specified subgroup analysis showed meaningful improvements in median time to progression for patients with poor performance status (ECOG Performance Status 1). While the median time to progression for the overall patient population was similar in both arms of the study, 8.6 months for the ZYBRESTAT arm compared with 9.0 months on the control arm, an analysis of the patient strata showed that patients with poor performance status who received ZYBRESTAT in addition to bevacizumab and chemotherapy achieved a median time to progression of 9.8 months compared with only 3.8 months for patients in this same subgroup on the control arm of the study with a hazard ratio (95% CI) of 0.51 (0.23, 1.16). Full Article
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