ABT Hits The Right Note, AVXS Walks The Talk, STEM Splits, LJPC Awaits Data

(RTTNews) - Abbott's (ABT) pivotal clinical trial of Tecnis Symfony 1-Piece Acrylic Intraocular Lens has met its primary endpoint of improved intermediate vision.

According to the trial results, people who received the Tecnis Symfony lens achieved significantly improved intermediate, as well as near, vision compared to those who received a monofocal IOL.

The company intends to use the Symfony data to support its regulatory application for the lens in the U.S.

The Symfony IOL is approved in more than 50 countries around the world, including Europe.

ABT closed Friday's trading at $37.97, down 1.38%.

AveXis Inc.'s (AVXS) ongoing phase I trial of drug candidate AVXS-101 in spinal muscular atrophy Type 1 patients continues to demonstrate a favorable safety profile.

Spinal muscular atrophy is a severe neuromuscular disease characterized by the loss of motor neurons leading to progressive muscle weakness and paralysis.

According to the trial results, all patients in both the low-dose and proposed therapeutic-dose cohorts remain without an "event," defined as death or until a patient requires at least 16 hours per day of ventilation support for breathing for 14 consecutive days in the absence of an acute reversible illness, or perioperatively. The mean motor function score continues to increase, with two patients having achieved motor function in a range considered to be normal, noted the company.

AVXS closed Friday's trading 12.48% higher at $25.33.

Seeking to address the Nasdaq listing requirements, StemCells Inc. (STEM) has implemented a 1-for-12 reverse stock split, which will come into effect on May 9, 2016.

The reverse stock split was implemented by the company will reduce the number of shares of outstanding common stock from approximately 140 million to approximately 11.6 million, and is expected to increase the available shares of common stock for future issuance.

STEM closed Friday's trading at $0.24, down 12.73%.

La Jolla Pharmaceutical Co.'s (LJPC) phase III trial of LJPC-501 in catecholamine-resistant hypotension, dubbed ATHOS, is underway, and results are expected by the end of 2016.

The full results from a phase I trial of LJPC-401 in patients at risk for iron overload due to conditions such as hereditary hemochromatosis, beta thalassemia, sickle cell disease and myelodysplastic syndrome, are anticipated in the second half of 2016.

LJPC closed Friday's trading at $15.59, down 5.00%.