Posts for Ticker ‘AGEN’

A Day After Huge Gains, Antigenics Taps Capital in Private Placement (AGEN)

Antigenics Inc. (NASDAQ: AGEN) has announced this morning that it has entered into definitive agreements to sell 7 million shares of its common stock at a price of $3.00 per share in a private placement.  The gross proceeds to the company will be $21 million before deducting filing and placement fees. The investors buying into this private placement are also receiving five-year warrants to purchase up to an additional 7 million shares of common stock at an exercise price of $3.75 per share.  Rodman & Renshaw is acting as the exclusive placement agent for this offering.

The company noted that the proceeds from the financing will be used primarily for funding key commercial and regulatory efforts.  That shall include the launch of Oncophage(R) (vitespen) in Russia, as well as possible filings in Europe and Canada.

This placement is on the heels of a gain of more than 20% yesterday on more than 15 million shares traded because of its Oncophage(R) being approved in Russia.  Shares yesterday closed at $3.03, so all in all it does not look like Antigenics had to give away the keys to the lab here to secure that money.  Their December 31, 2007 balance sheet showed only $16.679 million in cash and short term investments, while its short term liabilities were $8.38 million and total liabilities with long-term debt were more than $91.5 million.

Shares are indicated down 1.6% at $2.98 this morning and the 52-week trading range is $1.95 to $5.42.  Before the placement shares, Antigenics’ market cap is $171 million.

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Jon C. Ogg
April 9, 2008

Jon Ogg produces the Special Situation Investing Newsletter.  He can be reached at jonogg@247wallst.com and he does not own securities in the companies he covers.

Posted on: April 9, 2008 – 7:13 am in Biotech, Secondary Offering,

Major Biotech Movers (AGEN, CEGE, ENCY, IDMI, IMCL, ONXX, PFE, NTII, OXGN, PSDV, SIRT)

Antigenics Inc.  (NASDAQ: AGEN) A study for Cancer vaccine, Oncophage, for the treatment of metastatic melanoma showed mixed results this morning. Shares are down almost 7% to $2.17. The 52 week range is $1.54 to $5.42.

Cell Genesys, Inc. (NASDAQ: CEGE). Shares continue to climb following report Friday citing that vaccine candidate GCAX showed immune response in prostate cancer patients. Shares are trading at $2.93 in mid-day trading. The 52 week range is $1.78 to $7.30.

IDM Pharma, Inc. (NASDAQ: IDMI). Downgraded by Rodman & Renshaw. Shares plummet over 18% to $2.57. The 52 week range is $0.57 to $10.75.

Imclone Pharmaceuticals (NASDAQ: IMCL). Halted testing for competitor Onyx Pharmaceuticals (NASDAQ: ONXX) in the lung cancer drug market and a 4.96% stake purchase by Steve Cohen’s hedge fund, SAC Capital, pushed Imclone up early Tuesday. Shares have returned down to $38.41 in mid-day trading. The 52 week range is $27.50 to $47.94

Neurobiological Technologies Inc. (NASDAQ: NTII) Received a $2.1 million quarterly royalty payment for sales of Memantine, a moderate-to-severe Alzheimer’s disease treatment, from Merz Pharmaceuticals GmbH. Shares have showed little reaction, trading at $2.67. The 52 week range is $2.06 to $19.53.

Oxigene Inc. (NASDAQ: OXGN) Secures $40 million committed equity financing facility. Shares are down over 3% and trading in at $2.05 with a 52 week range of $2.01 to $5.12.

Onyx Pharmaceuticals (NASDAQ: ONXX). Shares are down by $3.47 to $29.62, a 10% drop after being murdered yesterday due to a Phase III testing halt for its lung cancer drug Nexavar. Shares fell almost 25% yesterday. The 52 week range is $23.65 to $61.18.

Today, Pfizer (NYSE: PFE) announced offer to buy all issued and outstanding shares of Encysive Pharmaceuticals (NASDAQ: ENCY) for $2.35 per share, a transaction valued at $195 million in equity. Pfizer will acquire the rights to THELIN, a treatment for PAH currently in pre-Phase III clinical testing in the United States. Pfizer is up almost $0.10 to $22.45 in mid-day trading. The range is $21.56 to $27.73. Encysive is up 110% to $2.27. The 52 week range is $0.59 to $5.02.

Psivida Ltd.  (NASDAQ: PSDV)  Received first R&D payments from Pfizer of $500,000 in part of an over $160 million agreement. Shares are down over 2% at $0.78. The 52 week range is $0.39 to $2.99.

Sirtris Pharmaceuticals, Inc. (NASDAQ: SIRT). Co-founder to present first In-Vivo, pre-clinical data showing SIRT1 activation has the ability to suppress tumor formation in cancer of the intestine and colon. Shares are down trading at $11.59 with a 52 week range of $9.81 to $21.99.

Rachel Lopez
February 20, 2008

Posted on: February 20, 2008 – 1:13 pm in Biotech, , , , , , , , , , ,

Antigenics’ Oncophage Data Boosts Shares

Antigenics (AGEN-NASDAQ) saw its shares pop more than 20% as it released data in apress release regarding its Oncophage trials. The company’s follow-up ‘end of study’ data on Phase III therapeutic cancer cvaccines showed that in a substantial subset of patients at intermediate risk for disease recurrence, Oncophage demonstrated a clinically significant improvement in recurrence-free survival of approximately 45 percent; and for intermediate-risk patients there was a trend towards improved overall survival, the study’s secondary endpoint.

This data was presented at the American Urological Association and this may be the only such treatments approved for these patients.  This data may be new observations, but the cut off date was back in January of 2006.  Since the cut off date the survival rates have been better and the recurrence rates lower in Oncophage versus the observation arm.  Adverse events reported during the trial were generally mild and expected. The more frequently reported adverse events were mainly constitutional in nature or related to the actual injection.

This just goes to show that even if data from other companies was leaking out last week, investors will still follow and still chase certain untreated cancers for their speculative portfolios. AGEN shares are up more than 25% at $3.37 on three-times normal trading volume.

Jon C. Ogg
May 21, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: May 21, 2007 – 10:33 am in Biotech,