CBMG Does A Deal, FLML Brightening Up, MusclePharm In Shape, Watch Out For NPSP

(RTTNews) - AbbVie's (ABBV) investigational compound ABT-414 has been granted orphan drug designation for glioblastoma multiforme by the European Medicines Agency and FDA. Glioblastoma multiforme is the most common and most aggressive type of primary brain tumor.

The company presented positive results from an ongoing phase I study of ABT-414 in patients with glioblastoma multiforme in May of this year. The company noted that is pleased to continue developing ABT-414 in phase II trials in patients with glioblastoma multiforme based on the results of the phase I program.

ABBV closed Monday's trading at $53.29, up 1.54%.

Cellceutix Corp. (CTIX.OB) expects to complete enrollment in its phase 2b trial of Brilacidin for Acute Bacterial Skin and Skin Structure Infections ("ABSSSI") by the end of this month.

CTIX.OB closed Monday's trading at $1.65, down 0.12%.

Cellular Biomedicine Group Inc. (CBMG) rose nearly 24 percent on Monday to close at $28.49 as the company agreed to acquire Agreen Biotech Co. Ltd. China and its founder's U.S. patent covering immune cell therapy technology.

The deal involves total cash and equity consideration of $3.28 million in cash, the issuance of 753,522 shares of CBMG common stock and the issuance of 75,000 shares of CBMG restricted stock units.

Flamel Technologies S.A. (FLML), the maker of the first and only FDA-approved neostigmine methylsulfate Injection, Bloxiverz, surged over 10% on Monday to close at $14.82 as the FDA cracked the whip on unapproved versions of the product.

Bloxiverz is used in the operating room for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery.

All manufacturers of unapproved versions of neostigmine methylsulfate have been notified by the FDA to cease manufacturing of the unapproved product as of July 30, 2014.

Flamel noted that its inventories are sufficient to provide 100% of the market demand for neostigmine methylsulfate with Bloxiverz.

MusclePharm Corp. (MSLP.OB), a nutritional supplement company, has reported better-than expected solid Q2 results, thanks to the broad and diverse appeal of its brands.

The company turned a profit of $400,000 or $0.03 per share on net sales of $46.7 million in Q2, 2014. This compared with a net loss of approximately $2.4 million or $0.34 per share and net sales of $25.5 million for the same period last year.

Looking ahead to full-year 2014, the company expects earnings per share to range between of $0.45 to $0.50 and net sales of $185 million to $195 million.

MSLP.OB closed Monday's trading at $11.15, down 0.89%.

NPS Pharmaceuticals Inc. (NPSP) has initiated a phase IIa study to evaluate the safety and tolerability of NPSP795 in adult patients with Autosomal Dominant Hypocalcemia, an ultra-rare genetic disorder of calcium homeostasis. The company expects to report preliminary top-line data from the study in late 2014 or early 2015.

NPSP closed Monday's trading 7.04% higher at $29.82.