Tivity Health: exploring best ways to deploy capital, including M&A

Tivity Health (TVTY) says it has been exploring the best ways to deploy capital, including strategic acquisition opportunities, particularly in nutrition. Says believes Nutrisystem (NTRI) is the best partner for Tivity. Comments taken from the Tivity Health conference call discussing its agreement to acquire Nutrisystem at an enterprise value of $1.3B in cash and stock. In pre-market trading, shares of Nutrisystem surged 27%.
https://thefly.com/landingPageNews.php?id=2834453

Cerus: American Red Cross receives BLA approval for INTERCEPT platelets

Cerus Corporation announced that the American Red Cross has received approval by the U.S. Food and Drug Administration for their first biologics license application for interstate distribution of platelets that have been pathogen-reduced with INTERCEPT Blood Systems. The Biologics License Application is a common procedure for blood centers to request permission by FDA to introduce a biologic product into interstate commerce. Until a blood center obtains a BLA, they are restricted to distributing INTERCEPT-treated products to hospitals within the state in which they are produced. While some blood centers may distribute primarily in state, many U.S. blood centers have extensive interstate distribution.
https://thefly.com/landingPageNews.php?id=2834507

Allscripts to sell interests in Netsmart for after-tax proceeds of $3 per share

Allscripts announced that it has signed a definitive agreement to sell its interests in Netsmart Technologies. In March 2016, Allscripts contributed its homecare business to Netsmart, in exchange for the largest ownership stake in the company which has now become the largest technology company exclusively dedicated to behavioral health, human services and post-acute care. It is expected that this sale transaction will yield Allscripts net after-tax proceeds of approximately $525M or approximately $3 per fully diluted share. Allscripts anticipates closing the sale by the end of the Q4, after the satisfaction of customary closing conditions. Allscripts plans to use the net after-tax proceeds to repay long-term debt, invest in other growing areas of its business, and to opportunistically repurchase its outstanding common stock. Upon closing, total outstanding net debt would be reduced to approximately $500M. The improved leverage profile is expected to enable the company to continue investing in its core and surround solutions while also providing flexibility for additional capital returns to shareholders.
https://thefly.com/landingPageNews.php?id=2834511

NuVasive gets FDA OK for expanded use of Monolith Corpectomy System

NuVasive gets FDA clearance for expanded use of Monolith Corpectomy System  announced it has received 510(k) clearance from the U.S. FDA for expanded use of its Monolith Corpectomy System, providing surgeons with a modular PEEK interbody solution for cervical corpectomy procedures. The FDA 510(k) indications for expanded use of the company’s Monolith Corpectomy System include procedures in the cervical spine to treat a diseased or damaged vertebral body caused by fracture, tumors, osteomyelitis or to support reconstruction following corpectomy performed to achieve decompression of the spinal cord and neural tissue in cervical degenerative disorders.
https://thefly.com/landingPageNews.php?id=2834517

InflaRx initiated at Credit Suisse

InflaRx initiated with an Outperform at Credit Suisse. Credit Suisse analyst Tiago Fauth started coverage of InflaRx with an Outperform rating and $47 price target. The analyst believes the stock will outperform based on a favorable risk/reward into a potentially meaningfully de-risking Phase 2b clinical update for IFX-1 in HS and increasing investor recognition of the substantial and growing opportunity in the HS market.
https://thefly.com/landingPageNews.php?id=2834523

Perrigo announces launch of AB-rated generic version of Topicort Topical Spray

Perrigo announced the launch of an AB-rated generic version of Topicort Topical Spray 0.25%. Topicort Topical Spray is indicated for the treatment of plaque psoriasis in patients 18 years of age or older. Annual market sales for the twelve months ending October 2018 were approximately $18M as measured by IQVIA.
https://thefly.com/landingPageNews.php?id=2834543

Denali Therapeutics initiates dosing in Phase 1b study of DNL201

Denali Therapeutics announced initiation of dosing in a Phase 1b clinical study of DNL201 in patients with Parkinson’s disease. DNL201, Denali’s lead LRRK2 therapeutic candidate, is a small molecule inhibitor of leucine-rich repeat kinase 2, or LRRK2. LRRK2 is a regulator of lysosomal function, which is impaired in Parkinson’s disease and may be restored by LRRK2 inhibition. Inhibition of LRRK2 activity may potentially slow the progression of disease in patients with a genetic LRRK2 mutation as well as in patients with sporadic Parkinson’s disease.
https://thefly.com/landingPageNews.php?id=2834579