Sweet News For ABT, Adherex To Change Name, FLXN's Work In Progress, INFI Rises

(RTTNews) - Abbott's (ABT) revolutionary new glucose sensing technology for people with diabetes, FreeStyle Libre Flash Glucose Monitoring System, has received CE Mark (Conformite Europeenne).

The FreeStyle Libre reads glucose levels through a sensor that can be worn on the back of the upper arm for up to 14 days, thereby eliminating the need for routine finger pricks when using a blood glucose meter.

The company noted that the product will be available in seven countries across Europe in the coming weeks.

ABT closed Wednesday's trading 1.26% higher at $42.76.

Adherex Technologies Inc. (AHX.TO) (AHXF.OB) is seeking for consolidation of its outstanding share capital and name change to Fennec Pharmaceuticals Inc to better reflect its current business focus and activities.

It is expected that the common shares will commence trading on the TSX under the new name and "FRX" trading symbol, as well as on a consolidated basis on or about September 5, 2014.

CEL-SCI Corp. (CVM) announced that it enrolled 20 patients with advanced primary, not yet treated, head and neck cancer into its global pivotal phase III head and neck cancer trial for its investigational immunotherapy Multikine during August 2014. This brings the total study enrollment to 252 patients.

The company is aiming to complete enrollment of subjects to the phase III head and neck cancer study by the end of 2015.

CVM closed Wednesday's trading at $1.05, unchanged from the previous day's close.

Flexion Therapeutics Inc. (FLXN) is all set to initiate a pivotal phase III clinical trial of its lead drug candidate FX006 in patients with osteoarthritis pain of the knee in late 2014. The company now expects the phase III development to be completed by the end of 2015, a year earlier than previously planned.

FLXN closed Wednesday's trading at $12.82, down 2.51%.

Hill-Rom Holdings Inc. (HRC) has declared a fiscal year 2014 fourth quarter dividend of $0.1525 per share, which is payable on September 30, 2014 to shareholders of record as of the close of business on September 16, 2014.

According to the company, the quarterly dividend represents an 11 percent increase over the amount paid a year ago and the same amount paid in the fiscal year 2014 third quarter. The annualized dividend rate per share stands at $0.61.

HRC closed Wednesday's trading at $43.75, down 0.36%.

Shares of Infinity Pharmaceuticals Inc. (INFI) rose 44 percent on Wednesday to close the day's trading at $15.73 as investors cheered the company's global collaboration with the pharmaceutical giant AbbVie Inc. (ABBV) to develop and commercialize Duvelisib (IPI-145).

Infinity's Duvelisib is an oral inhibitor of phosphoinositide-3-kinase (PI3K)-delta and PI3K-gamma, the key enzymes in leukocytes (white blood cells). Duvelisib is under a phase II study in patients with refractory indolent Non-Hodgkin Lymphoma, dubbed DYNAMO, and under phase III testing in patients with relapsed or refractory chronic lymphocytic leukemia, known as DUO.

Under the terms of the agreement inked yesterday, Infinity will receive an upfront payment of $275 million and is eligible to receive up to $530 million in additional payments. Infinity and AbbVie will jointly develop and commercialize Duvelisib in U.S., with equal profit share, while for sales outside the U.S, Infinity is entitled to receive royalties.

NovaBay Pharmaceuticals Inc.'s (NBY) NeutroPhase Skin and Wound Cleanser has been cleared for sale throughout mainland China by China's Food and Drug Administration.

The company has a distribution agreement with Pioneer Pharma Co. Ltd., to market NeutroPhase in China and Southeast Asia.

NovaBay will be shipping NeutroPhase to China in the fourth quarter of 2014 to support Pioneer's launch of the product in early 2015.

NBY closed Wednesday's trading at $0.80, up 5.26%.

Nuvo Research Inc.(NRI.TO) has completed enrolment in its phase II clinical trial of WF10 in patients with refractory allergic rhinitis. The company expects the trial to be completed in late 2014 with top-line results anticipated in the first quarter of 2015.

NRI.TO closed Wednesday's trading at $3.70, down 2.63%.

pSivida Corp.'s (PSDV) ILUVIEN for the treatment of vision impairment associated with chronic diabetic macular edema has received another marketing authorization in the European Union. This time it is in Sweden, which marks the 10th EU approval.

ILUVIEN is currently under review by the FDA with a decision date set for September 26, 2014.

PSDV closed Wednesday's trading at $4.79, up 0.21%.

RedHill Biopharma Ltd. (RDHL) is initiating a phase III clinical study of RHB-102 in patients suffering from acute gastroenteritis, an inflammation of the gastrointestinal tract which causes, among other symptoms, nausea and vomiting.

The study is expected to enroll 320 adults and children over the age of 12 who suffer from acute gastroenteritis, with top-line results expected during the second half of 2015.

RDHL closed Wednesday's trading at $14.33, up 0.21%. In after-hours, the stock gained another 1.88% to $14.60.