May. 12, 2014, 9:12 AM
May. 8, 2014, 4:14 PM| Comment!
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Apr. 15, 2014, 12:06 PM
- Shares of RNA interference firm Tekmira Pharmaceuticals (TKMR -14.5%) continue their slide in early trading. Prices have cratered 60% since the 6x run-up peaked at $31.48 on March 13.
- Although Big Pharma has lost much of its enthusiasm for RNA interference, some analysts remain bullish. RBC Capital has a $30 PT on the stock and Maxim Group has $31. Stifel Nicolaus is a bit more modest with $19.
- Most of the firm's 2013 revenue of $15.5M came from its contract with the DOD for the development of an Ebola treatment ($9.8M) and a milestone payment from Alnylam (ALNY -4.5%) ($5M) that was triggered by the start of the Phase 3 clinical trial for ALN-TTR02 (patisiran).
Apr. 2, 2014, 8:30 AM
- The European Medicines Agency has recommended that Alnylam's (ALNY) ALN-TTRsc be designated as an orphan medicinal product for the treatment of transthyretin (TTR)-mediated amyloidosis (ATTR).
- ATTR is part of a group of conditions called Amyloidosis in which proteins that are usually soluble become insoluble and start to build up in various organs or tissues, such as the peripheral nerves and heart. ATTR is often fatal.
- ALN-TTRsc is in a pilot Phase 2 trial of 15 patients.
Mar. 6, 2014, 9:22 AM
- Alnylam Pharamaceuticals (ALNY) finalizes its buy of Merck's (MRK) Sirna Therapeutics that was previously disclosed on January 12.
- The total purchase price is $175M ($25M cash and $150M in ALNY common stock).
- The transaction represents a significant haircut for Merck considering the $1.1B cash price it paid for Sirna in 2006.
Feb. 24, 2014, 12:04 PM
- "When we first launched coverage of Tekmira (TKMR +8.9%) on June 18, 2013 at $4.80 we modeled our expectations with a high degree of conservatism using a 30% risk rate across the complete model," says analyst Jason Kolbert. "We are now lowering that discount rate from 30% to 15%."
- The new price target of $31 is up from $17 previously.
- The lower discount rate is thanks to progress of Tekmira partners Alnylam (ALNY -1.1%), Marqibo, and Monsanto, and the ever-rising evidence of the viability of SiRNA and the platform required to deliver it. He notes the gains in Isis Pharma last week amid preliminary test data, and the continued rise in Alnylam since Sanofi agreed to pay $700M for access to rare-disease treatments, and took a 12% stake in the company.
Feb. 14, 2014, 8:18 AM
- Analyst Alan Carr reiterates his Buy rating and boosts the price target to $94 from $65 following last night's Q4 results.
- "Management reiterated plans to bring at least 6-7 candidates into clinical development by YE15, including two into Phase 3 by YE14," he notes. "Key milestones this year include data from the ALN-TTRsc Phase 2, ALN-AT3 Phase 1, and ALN-TTR02 Phase 2 OLE trials, all in 4Q14."
- "The Jan 2014 Sanofi collaboration provides a large cash infusion, allowing a much larger R&D effort that may accelerate time to commercialization of multiple programs across multiple territories."
- The $94 price target is based on 25x 2020 EPS estimates, discounted by 25% annually.
- ALNY unchanged premarket
Feb. 13, 2014, 4:01 PM| Comment!
Feb. 13, 2014, 12:10 AM
Feb. 12, 2014, 5:35 PM
Jan. 14, 2014, 10:28 AM
Jan. 13, 2014, 4:47 PM
- Isis Pharmaceuticals (ISIS) is set to receive $7.5M from Alnylam Pharmaceuticals (ALNY) in connection with the Genzyme deal.
- "To date we have generated well over $400M from the sales and licensing of our intellectual property, including more than $50M from ALNY's collaborations," ISIS notes.
- ISIS also says it may receive royalties in the future. (PR)
Jan. 13, 2014, 12:46 PM
Jan. 13, 2014, 9:12 AM
Jan. 13, 2014, 8:01 AM
- Alnylam Pharmaceuticals (ALNY) acquires Merck (MRK) subsidiary Sirna Therapeutics for $175M upfront in cash and equity — MRK may also get milestone payments and "single-digit" royalties tied to development and sales.
- The deal gives ALNY "pre-clinical [RNAi] therapeutic candidates, chemistry, siRNA-conjugate and other delivery technologies," which CEO John Maraganore says complement the company's existing portfolio. (PR)
- See also: SNY deepens relationship with ALNY in $700M deal
- Also: ALNY gives pipeline update
- ALNY +30% premarket
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