Mar. 10, 2015, 3:51 PM
- Traders spread their love beyond the rumored acquisition target-stoked up move of Acadia Pharmaceuticals (ACAD +17.7%) to Geron (GERN +12.3%). Shares are up on a whopping 24M shares. Speculators are betting that Geron will be taken out, possibly by Johnson & Johnson (JNJ -0.8%), after the latter was outbid by AbbVie (ABBV +0.9%) for Pharmacyclics (PCYC).
- Previously: Geron gets boost from AbbVie-Pharmacyclics deal (March 5)
- Previously: Acadia Pharma now +17.7% as it cancels out of another conference (March 10)
Mar. 5, 2015, 12:15 PM
- Small cap Geron (GERN +17.8%) jumps on a 3x surge in volume as traders take positions speculating on the potential for a move by imetelstat collaboration partner and exclusive licensee Johnson & Johnson (JNJ +0.8%) after it was apparently outbid by AbbVie (ABBV -3.5%) for Pharmacyclics (PCYC +10.5%).
- SA Contributor Stock Doctor recently published an article on why Geron may be worth a close look.
- Previously: Geron wins deal to develop blood disorder drug, could get $935M (Nov. 13, 2014)
Mar. 5, 2015, 9:15 AM
Mar. 5, 2015, 8:52 AM
- AbbVie's (NYSE:ABBV) extraordinarily generous buyout of Pharmacyclics (NASDAQ:PCYC) is a crystal clear example of how keen big pharma is to boost its prospects with biotech drugs with blockbuster potential. The transaction's $20B tab, backing out PCYC's $1B cash balance, values Imbruvica (ibrutinib) at $40B since Pharmacyclics' commercial partner Johnson & Johnson (NYSE:JNJ) gets 50% of Imbruvica's revenue. This implies a multiple of almost 7x Imbruvica's projected peak sales of $6B. By comparison, Amgen's (NASDAQ:AMGN) takeout of Onyx Pharma and Sanofi's (NYSE:SNY) takeout of Genzyme were both at 5x premiums.
- The looming patent expiration for Humira ($12.5B in sales the past four quarters) undoubtedly provided AbbVie extra incentive to get the deal done.
- Adding 50% of Imbruvica's sales to AbbVie's top line should increase its revenue growth 3 - 7% and EPS growth 8 - 11% through 2020.
- According to RBC analyst Michael Yee, other biotechs on the big ticket acquisition radar are: BioMarin Pharmaceuticals (NASDAQ:BMRN), Dyax (NASDAQ:DYAX), Esperion Therapeutics (NASDAQ:ESPR), United Therapeutics (NASDAQ:UTHR), Vertex Pharmaceuticals (NASDAQ:VRTX), Intercept Pharmaceuticals (NASDAQ:ICPT), Juno Therapeutics (NASDAQ:JUNO), Kite Pharma (NASDAQ:KITE), PTC Therapeutics (NASDAQ:PTCT) and Receptos (NASDAQ:RCPT).
Mar. 4, 2015, 4:32 PM
- Pharmacyclics (NASDAQ:PCYC) jumps in apparent response to rumors that Johnson & Johnson (NYSE:JNJ) is close to making a premium bid for the $17B biotech. Shares were up 6% in today's session on double normal volume and are up another 2% after hours.
- The two companies have a history of working together. Pharmacyclics and J&J's Janssen Biotech inked a collaboration deal in late 2011 to develop PCI-32765 for a variety of blood cancers.
- The transaction would be the largest for J&J since its takeout of Synthes in 2011 for $21.3B.
Feb. 25, 2015, 1:43 PM
Jan. 13, 2015, 12:45 PM
Jan. 13, 2015, 9:24 AM
Jan. 12, 2015, 6:20 PM
- Pharmacyclics (NASDAQ:PCYC) expects Q4 Immburvica U.S. net product revenue of $185M (+31% Q/Q), and full-year revenue of $492M. Q4 and full-year Imburvica milestone payments from Janssen Biotech are respectively expected to total $100M and $220M.
- The Q4 revenue consensus is at $247.5M, and the full-year consensus at $687.8M.
- PCYC is also guiding for 2015 Imburvica U.S. net product revenue of $1B (+103% Y/Y). The 2015 total revenue consensus is at $950.6M.
Jul. 31, 2014, 4:08 PM
- Pharmacyclics (NASDAQ:PCYC): Q2 EPS of -$0.26 misses by $0.04.
- Revenue of $113M (+106.7% Y/Y) beats by $15.68M.
- Shares +3.79% AH.
Jun. 2, 2014, 9:16 AM
Mar. 13, 2014, 5:42 PM
Feb. 21, 2014, 8:00 AM
- Q4 results confirmed a strong launch for Imbruvica despite just six weeks on the market and approval in the smaller indication of relapsed/refractory mantle cell lymphoma, says analyst Robert Drbui, reiterating his Buy rating and raising the PT to $166 from $137. "We believe off-label usage in the larger chronic lymphocytic leukemia indication ahead of last week's approval was clearly evident, suggesting the strong underlying demand in this population."
- "While lack of visibility in R&D spend may represent potential risk to estimates, we believe our model captures the cost of the ongoing hematology program. Furthermore, we believe the higher expense projections are offset by IP on Imbruvica extended out to 2035 versus our 2027 estimate, and lower our long term tax rate assumption to 25% versus our prior estimate of 30%."
- PCYC +2.2% premarket
Feb. 12, 2014, 1:19 PM
- The FDA expands the approved use of Imbruvica for the treatment of chronic lymphocytic leukemia patients who have received at least one previous therapy.
- PCYC +4.3%
Jan. 13, 2014, 3:23 PM
- Shares of Pharmacyclics (PCYC -1.6%) are lower in afternoon trading after the company's presentation at the JPMorgan Healthcare Conference.
- Ibrutinib highlights from the "conclusions" slide: Drug "demonstrated safety, tolerability, and durability of response at ≥ one year ... in treatment naive and relapsed/refractory CLL/SLL;" serious AEs decreased after one year of treatment; median DOR not yet reached in extension study.
- See also: PCYC notifies investors of relevant changes to NCCN Clinical Practice Guidelines
- For more on ibrutinib (Imbruvica) in CLL/SLL, see here.
Jan. 8, 2014, 10:46 AM
- Nomura's Ian Somaiya (formerly at Piper) is out with a number of healthcare initiations.
- Gilead (GILD +1.7%) is the firm's top biotech pick for 2014 as the company is "set to dominate the HCV market." GILD started at Buy. Price target is $118.
- Neurocrine Biosciences (NBIX -3.2%) started at Buy. Somaiya sees peak sales of $700M for NBI-98854. Price target is $23.
- Celgene (CELG +1.2%) started at Buy. "Revlimid for multiple myeloma, is less than a third of the way to realizing its peak sales potential," Somaiya says. Price target is $236.
- Biogen (BIIB +4.1%) initiated at Buy. Tecfidera, is "a blockbuster ... treatment for MS, with estimated peak sales of $9B," Somaiya notes. Price target is $368.
- Alexion (ALXN +1.5%) initiated at Buy. Price target $150.
- Pharmacyclics (PCYC +1.9%) will "transform the treatment paradigm and disease course of CLL and mantle cell lymphoma MCL." Shares started at Buy. Price target is $137.
- Other initiations: Incyte (INCY +5.9%) started at Buy. Synageva BioPharma (GEVA +3.7%) started at Buy. BioMarin (BMRN +1.2%), Amgen (AMGN), and Infinity Pharmaceuticals (INFI +2.8%) started at Neutral.
Pharmacyclics Inc is a biopharmaceutical companyengaged in developing and commercializing novel therapies for the treatment of cancer and immune-mediated diseases.
Industry: Drug Manufacturers - Other
Country: United States
Other News & PR