Tue, Aug. 11, 9:16 AM
Wed, Jul. 15, 12:45 PM
Wed, Jul. 15, 10:36 AM
- Celgene's (CELG +9.5%) $7.2B deal for Receptos (RCPT +10.3%) is “a great acquisition at a great price," Nomura analysts say, as ozanimod could enable CELG's inflammation and immunology franchise to double peak sales to $10B and reduce reliance on Revlimid to drive future growth, and the acquisition price of less than 2x peak sales is a steep discount relative to recent comparisons.
- Wedbush analyst Liana Moussatos sees plenty of potential upside to justify a rival bidder stepping in for RCPT, noting that she had estimated the company could be valued at $348/share, or ~$10.9B, in a buyout, substantially more than CELG's $232 offer.
- The deal is boosting some biotech names (IBB +1.9%), including PTC Therapeutics (PTCT +11.7%), Celsion (CLSN +7.1%) and Arena Pharmaceuticals (ARNA +6.7%).
Mon, Jul. 13, 5:35 PM
Mon, Jun. 22, 5:36 PM
Mon, Jun. 8, 9:41 AM
- Thinly traded nano cap Capricor Therapeutics (CAPR +19.4%) is set for an opening gap up in response to its announcement that the FDA has approved its Investigational New Drug (IND) application for the development of Orphan Drug-designated CAP-1002 for the treatment of patients with Duchenne Muscular Dystrophy (DMD)-related cardiomyopathy. The company is currently developing CAP-1002 for the treatment of heart disease.
- A Phase 1/2 study, called HOPE-DUCHENNE, will enroll up to 24 patients.
- Due to the improvement in the treatment of respiratory failure, cardiomyopathy is the leading cause of death in DMD patients.
- CAP-1002 is an "off-the-shelf" cell therapy that will be infused via a catheter into the patients' three coronary arteries in the study.
- DMD-related tickers: (SRPT +1.3%)(OTCPK:SPHDF)(PTCT -2.3%)(SMMT)(PFE -0.2%)(NASDAQ:RNA) (ROSG)(OTCQB:MRNA)(BMRN +0.9%)
Thu, May 21, 5:41 PM
Tue, May 19, 5:40 PM
- Based on guidance from the FDA provided in a pre-New Drug Application (NDA) meeting, Sarepta Therapeutics (NASDAQ:SRPT) will begin a rolling NDA submission this week for eteplirsen for the treatment of Duchenne muscular dystrophy (DMD). It will file the non-clinical and CMC (Chemistry, Manufacturing and Controls) components by the end of this week and the final component (clinical data) by mid-year.
- Interim CEO Edward Kaye, M.D., says, "We will initiate a rolling NDA submission to facilitate the regulatory review of the submission. [It] marks a significant milestone for the Duchenne community and we look forward to completing the submission by the middle of the year and to continuing to work with the Agency towards the goal of providing treatments to patients as quickly as possible."
- Eteplirsen is designed to skip exon 51 in the dystrophin gene, an essential protein in muscle fiber function. A mutation in dystrophin causes DMD. Approved therapies will command premium prices so a number of companies are racing to the regulatory finish line.
- SRPT is up 38% after hours on robust volume.
- DMD-related tickers: (OTCPK:SPHDF) (NASDAQ:PTCT) (NASDAQ:CAPR) (NASDAQ:SMMT) (NYSE:PFE) (NASDAQ:RNA) (NASDAQ:ROSG) (OTCQB:MRNA) (NASDAQ:BMRN)
Tue, May 5, 12:46 PM
Mon, May 4, 5:36 PM
Thu, Apr. 23, 9:13 AM
Thu, Mar. 5, 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).
Mon, Feb. 23, 12:44 PM
Oct. 6, 2014, 1:24 PM
- Investors in PTC Therapeutics (PTCT -11.5%) take some money off the table today on average volume. Shares tripled from May 22's close of $15.32 to the peak of $47.20 on September 26 after Europe's CHMP issued a positive opinion favoring conditional approval of Translarna (ataluren) on May 23. The EC granted the conditional approval on August 4.
May 23, 2014, 12:45 PM
May 23, 2014, 9:10 AM
PTCT vs. ETF Alternatives
Other News & PR