Boston, MA 10/13/2014 (wallstreetpr) – This week will be an important one for Medgenics Inc (NYSEMKT:MDGN) as it is set to announce the third quarter results as well as initial clinical results on its MDGN-201. Both the events will take place on Wednesday, October 15, 2014.
Initial Clinical Data
The company had last released it second quarter results in June, 2014. During the announcement, Medgenics Inc (NYSEMKT:MDGN) had reported start of enrolment in its MDGN-201 clinical trial. It is to be noted that MDGN-201 study is aimed to study safety and efficacy of its BioPump platform against the treatment of anemia. The study encompasses dialysis patients, who are suffering from end-stage chronic kidney disease (CKD) or renal disease (ESRD). The release of initial data this week will follow the presentation from the company at the “22nd Annual Congress of the European Society of Gene and Cell Therapy (ESGCT)”. The event is to take place from October 23rd to 26th, 2014.
Developments So Far
Alongside MDGN-201 data, Medgenics Inc (NYSEMKT:MDGN) is expected to throw light on its achievement with respect to other multiple preclinical programs being initiated during the second quarter. All of these programs are aimed to treat rare and orphan diseases. During the second quarter, the company had reported a net loss of $0.21 per share as against a net loss of $0.11 per share in the year 2013. At the same time, the net R&D expenses of the company decreased from $0.86 million to $0.77 million y-o-y. This decrease is due to the contribution of $1.18 million by the Israel Office of the Chief Scientist (OCS).
In September, the company had named Scott Applebaum as Chief Legal Officer, who will be responsible for steering clear from the regulatory, legal and other hurdles linked to the drug development and marketing. Since the announcement of last results, the shares of Medgenics Inc (NYSEMKT:MDGN) have declined by more than 26% and are currently trading at $5.31.
