Bioniche files for offering in Canada

Bioniche Life Sciences (TSX:BNC) has filed a final short-form prospectus in all provinces of Canada for the sale of 10 million new common shares at a price of $1.45 each. The filing represents the Canadian portion of two concurrent financings, totalling 20 million shares in Canada and an initial public offering in Australia and New Zealand. In [...]

Bioniche to offer 20 million shares

Bioniche Life Sciences (TSX:BNC) is offering up to 20 million new common shares in two concurrent financings by short-form prospectus in all provinces of Canada and by initial public offering in Australia and New Zealand. Stock may be offered in other jurisdictions on a private placement basis. The Canadian sale is being underwritten by a [...]

Dundee mulls the good and bad of Resverlogix’s Phase 2b Results

Following a sweeping sell off in Resverlogix (TSX:RVX) on Phase 2b clinical results with its RVX-208 cholesterol drug, Dundee Securities is sticking with its “buy, venture risk” rating, but with “increased caution” on the stock. Dundee doesn’t have a target price on the stock, which plummeted $1.89 just before the close on Tuesday and tumbled [...]

Dundee upgrades YM to “buy, venture risk”

Dundee Securities has upgraded YM BioSciences (TSX:YM; Amex:YMI) to “buy, venture risk” from “under review” based on the growing focus of JAK-1/2 inhibitors and the potential that may exist to differentiate YM’s CYT387 drug candidate in the space. Analyst David Martin writes that YM’s release of early data this week “suggests that CYT387 may provide [...]

Analysts cut Cardiome price target

Versant Partners and Dundee Securities have lowered their price targets on Cardiome Pharma (TSX:COM; NASDAQ:CRME) after it and partner Astellas Pharma halted a 470-patient Phase 3 trial testing an IV formulation of vernakalant or Kynapid for rapid-onset atrial fibrillation. Versant Partners analyst Doug Loe writes that the decision was “clearly disappointing because halting (the trial) [...]

Immunovaccine in unit offering

Immunovaccine (TSX-V:IMV) has filed a short-form prospectus to raise a minimum of $6.5 million and a maximum of $8 million through the sale of units priced at $1 each. Each unit consists of one common share and one-half of a warrant, with each whole warrant entitling the holder to purchase one additional common share at [...]

Medicago offers $7 million of units

Medicago (TSX:MDG) has entered into an agency agreement and carried out an overnight marketed offering to sell up to 17,283,952 units at a price of 40.5 cents each in order to finance its $7.5 million share of a new U.S. pandemic vaccine plant that includes a grant from an arm of the U.S. Department of [...]

Dundee selects Novadaq as top pick

Calling Novadaq Technologies (TSX:NDQ) its “top pick” in the healthcare sector, Dundee Securities analyst David Martin figures the medical devices company can “at least triple revenues by 2012.” He rates the stock a “buy, speculative risk,” with a 12-month price target of $7.10. The stock closed at $3.50 on Friday, with a 12-month trading range [...]

Riding the Next Wave

No, we’re not talking about the north coast of Maui but rather a new research platform from long-time biotech analyst David Martin of Dundee Securities. “If I’m going to recommend that investors own a basket of biotech stocks, it makes sense that I ought to initiate on a basket of stocks rather than make one-off [...]

GeneNews includes financing in its 2010 milestones

GeneNews (TSX:GEN) has outlined its anticipated milestones for 2010, including the expansion of its shareholder base and accessing additional working capital “to support the pursuit” of its milestones. Although terms for an offering of securities have not yet been set, the company recently retained Dundee Securities and Reedland Capital Partners, an institutional division of Financial [...]