Posts Tagged ‘biotech’

Biotech stocks peaked? There’s still plenty of froth

April 1st, 2015 No comments

images (1)As a sector, biotech might be using out of steam after months – have that years in a little cases – of heady gains. iShares Nasdaq Biotechnology IBB has slumped 10% in the past 10 trade sessions alone after a 23% climb given the begin of 2015 and 34% runup in 2014.

But the ardour for a little tall flyers stays surprisingly strong.

Little-known Dyax Corp. surged scarcely 54% to $25.75 Wednesday on certain clinical exam formula for DX-2930, used to treated with colour patrimonial angioedema, (HAE) a singular genetic red blood condition  that causes unpleasant flourishing in about 1 in 10,000 to 50,000 people.

“The certain formula from this hearing have been a poignant miracle for Dyax and will be constituent in running the destiny clinical growth of DX-2930,” pronounced Dyax CEO Gustav Christensen. “If approved, we hold that DX-2930, with the singular profile, is good positioned as a intensity surety diagnosis choice for patients pang from HAE.”

Dyax DYAX had income of $26 million for the fourth entertain and $81.73 million for the full 2014 mercantile year, mostly on sales of Kalbitor, that  first perceived regulatory capitulation as a diagnosis for strident HAE attacks in 2009.

Another biotech stock, Immune Design IMDZ, popped  29% to $27.22 after announcing certain exam formula from dual clinical theatre cancer-treatment drugs.  And Great Basin Scientific GBSN  jumped 13% to $4.40 after surging over 60% Tuesday following U.S. obvious capitulation for the molecular evidence contrast technology.


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Biotech merger will marry Teva with Auspex

March 30th, 2015 No comments

imagesTeva Pharmaceutical TEVA is gnawing up Auspex Pharmaceuticals ASPX in a $3.2 million deal, the biotech companies pronounced Monday.

LaJolla, Calif., formed Auspex specializes in intensity treatments for  Huntington’s mildew and Tourette syndrome, whilst Israel-based Teva has treatments for Parkinson’s mildew and mixed sclerosis.

Teva rose  1% to $62.52 Monday, whilst Auspex rocketed 41% to $100.36.

The partnership values Auspex at about $101 a share.



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The $3.55 billion Man

March 24th, 2015 No comments
Robert Duggan

Robert Duggan

Robert Duggan, CEO of biotech drugmaker Pharmacyclics PCYC,  will slot over $3.5 billion from the company’s sale to AbbVie ABBV, one of the greatest paydays ever from the buyout of a publicly hold company.

Under conditions of the deal, Duggan will embrace $3.55 billion for his 13.6 million shares, about an 18% seductiveness in the biotech company, according to corporate filings.

Other comparison execs have been set for big payouts as well, together with Chief Operating Officer Mahkam Zanganeh, whose shares have been value scarcely $224.6 million, and executive David Smith, who will slot scarcely $46.5 million. All told, directors and comparison management team could  receive scarcely $4 billion in merger-related payments, Pharmacyclics says.

Duggan, 70, is a longtime in isolation try financier and was CEO of surgical systems builder Computer Motion until it was acquired by Intuitive Surgical  ISRG in 2003.

Duggan began shopping Pharmacyclics batch in 2004, in the future aggregation scarcely a 25% stake. But  by 2008, shares had depressed next $1.  The company’s fortunes incited on ongoing lymphocytic leukemia diagnosis Imbruvica and a array of drug attention mergers.

Pharmacyclics shares now traffic at about $258.  Takeover conjecture – together with seductiveness  from Imbruvica partner Johnson & Johnson  JNJ – have increased Pharmacyclics 119%  this year alone, formed on Tuesday’s $257.75 close.

Duggan has declined remuneration from the association given apropos CEO in 2008.


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Potential Alzheimer’s treatment boosts Biogen

March 20th, 2015 No comments


Promising hearing interpretation for  its initial Alzheimer’s diagnosis pushed drug developer Biogen Idec BIIB up 10% Friday to a jot down close.

Shares rose $42.33 to $475.98 after the association pronounced the medication, Aducanumab, constructed certain formula in clinical trials, in shortening amyloid board in the brain, believed to fool around a key purpose in Alzheimer’s progression.

“This is the initial time an investigational drug for Alzheimer’s mildew has demonstrated a statistically poignant rebate on amyloid board as good as a statistically poignant negligence of clinical spoil in patients with prodromal or amiable disease,” Biogen Idec Chief Medical Officer Alfred Sandrock pronounced at the International Conference on Alzheimer’s and Parkinson’s Diseases and Related Neurological Disorders.

An estimated 5 million Americans have been diagnosed with Alzheimer’s; twenty-six million worldwide.

The drug, still undergoing trials, would not be on the marketplace until 2019. But Citigroup comparison biotech researcher Yaron Werber increased his cost aim on the batch to $512 from $475, observant on CNBC which Biogen Idec has multiform earnest drug in the pipeline, together with treatments for mixed sclerosis and lupus.

Biotech has been Wall Street’s hottest sectors, and Biogen Idec between the greatest stars.

Shares have been up some-more than 50%  since early December, when the Cambridge, MA., association pronounced it was relocating to late-stage trials of Aducanumab.

Over the past 5 years, Biogen Idec is up scarcely 720%.




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Dog of the day: Tonix Pharmaceuticals

September 29th, 2014 No comments

XXX YOUR LIFE STOCK DOGS SMART 11072.JPG A FEATonix Pharmaceuticals TNXP flattened 50% to $6.95 a share Monday – Wall Street’s greatest commission crook – after the drug builder pronounced the fibromyalgia diagnosis did not encounter key goals in stream clinical trials.

Tonix pronounced the 12-week trials “did not grasp statistical highlight in the first efficiency endpoint of change” in normal every day pang scores of exam subjects. unsuccessful to grasp the first efficiency endpoint of sequence in normal every day pang scores.”

About 2.6 million U.S. patients have been diagnosed with fibromyalgia, a ongoing pang and tired condition that affects often women in their 20s to early 50s.

Tonix CEO and co-founder Seth Lederman pronounced the association skeleton to encounter with Food & Drug Administration officials to examination investigate interpretation and pattern serve testing.  The diagnosis could good nap disorders for those pang from post- dire highlight disorder.

Pfizer PFE (Lyrica) and  Eli Lilly LLY (Cymbalta)  are between drugmakers that already marketplace fibromyalgia treatments.

Tonix still hopes to mass marketplace the remedy as a fibromyalgia diagnosis by 2017 and as a PTSD remedy by 2019. But investors have been using out of patience. Shares have been off 67% from 52-week, $21 highs.

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Kite Pharma soars on promise of cancer treatment

August 26th, 2014 No comments

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Wall Street continues to go bonkers for biotech.

The latest: Kite KITE Pharma, up 18%  to $26.25 Tuesday on intensity for the KTE-C19 medication, directed at  treating  non-Hodgkin’s lymphoma.

A little early proviso clinical hearing with the National Cancer Institute  involved  just  15 patients. But formula showed that twelve had finish or prejudiced remissions and 8 were in finish remission, according to the American Society of Clinical Oncology’s Journal of Clinical Oncology.

The clinical-stage biotech association skeleton to beginner clinical trials by the fourth quarter. “We have been severely speedy by the clever formula we have seen,” pronounced CEO Arie Belldegrun.

Stifel Nicolaus, that reiterated a buy rating and a $31-a-share cost target, says KTE-C19 has the intensity to transcend $1 billion in tellurian sales. It expects the diagnosis to embrace Food & Drug Administration capitulation as early as 2017.

Kite, started in 2009,  launched an primary open batch charity Jun twenty at $17 a share. Earlier this month, Kite posted a second-quarter detriment of $17.9 million, vs. a $1.7 million detriment for the year-ago quarter.





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One giant misstep for Mannkind

August 12th, 2014 No comments

V1X128_249B_9Wall Street backtracked on Mannkind (MNKD) Tuesday, promulgation shares of the biotech organisation tumbling 12% to $7.48.

The dump came  after Mannkind jumped 8% Monday on headlines of a tellurian  licensing understanding with French curative hulk Sanofi to marketplace the Afrezza diabetes diagnosis commencement in 2015.   Following the market’s close, Mannkind  reported a wider-than-expected second-quarter detriment on aloft investigate and growth costs and waste associated to batch compensation.  It was additionally an one more entertain but any revenue.

The Valencia, Calif., formed association has amassed waste of $2.4 billion since it was launched in Feb 1991.  While the concentration has been on drug treatments, it’s usually authorized remedy is Affreza, a rapid-acting, inhaled insulin which gained Food & Drug Administration capitulation in June.

“At this time, due to the risks fundamental in the clinical hearing routine and since the early theatre of growth of the product possibilities alternative than AFREZZA, which was not long ago authorized by the FDA, we have been incompetent to guess with any faith the costs which we will catch in the one after another growth of the product candidates,” the association pronounced in the ultimate quarterly report.

The Afrezza  licensing understanding  will yield Mannkind $150 million in upfront fees and eventually, up to $775 million.  But Mannkind says it might need to lift one more collateral by one more batch sales and debt offerings.

Mannkind had climbed neatly this open on Arezza’s prospects.  But Mannkind has been a bit inhumane to long-term investors. Shares appearance in the $24 operation in Sep 2004.


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Puma Biotech races ahead 190% after-hours

July 22nd, 2014 No comments


Puma Biotechnology  shares soared some-more than 190% to $173 .30  in after-hours trade Tuesday, buoyed by certain hearing tests formula of the breast cancer treatment.

Puma pronounced 2,841 patients diagnosed with early theatre breast cancer who had undergone operation were partial of the Phase 3 clinical trials of Neratinib.

The Los Angeles-based association skeleton to record for regulatory capitulation for Neratinib  in 2015. The remedy could additionally be used to provide non-small cell lung cancer and tumors. The association additionally voiced an nice chartering understanding with Pfizer that creates Pump obliged for losses scored equally to clinical trials.

Puma, that sealed at $59 during normal trade hours, ran up neatly from Nov to Feb. 21, when formerly appearance at about $130 prior to a broad-based biotech sell off pummeled the batch to $53.


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