After a days spent in the streets of old town Paris, I am catching up on the happenings in the U.S. markets in my hotel room. VIX is up 7% as I write this. A VIX sell market signal was triggered yesterday which fits in with the overbought markets.
Other stuff that I am watching is:
- vTv Therapeutics (NASDAQ:VTVT) announces positive phase 2b data for its liver specific glucokinase inhibitor in type 2 diabetes. We have recently published a detailed research report on Seeking Alpha with first price target for stock= $12.96 (Link to report). Sales of the drug could exceed $1 billion annually if we look at comparable drugs. Shares are up more than 7%. The stock is in our firm model portfolio.
- IPO insider selling lock period expiration (8/9/16): Avexis (NASDAQ:AVXS), RA Capital is a big holder in this company. The stock was included recently in our watch-list after receiving a Breakthrough therapy designation for its gene therapy for SMA type 1. Other notable IPOS with similar insider selling lock period expiration include: Editas Sciences (NASDAQ:EDIT) and Beigene (NASDAQ:BGNE).
- Summit Therapeutics (NASDAQ:SMMT) announced that a new formulation of its utrophin modulator, ezutromid achieved 6 times greater plasma levels than the current F3 formulation. The company will advance the new F6 formulation to a phase 2 study. Notably, the company' utrophin modulator targets 100% of DMD (Duchenne muscular dystrophy) patients compared to Sarepta (NASDAQ:SRPT) and PTC Therapeutics (NASDAQ:PTCT) which target a fraction of DMD patients..
- Kitov awarded patent for its lead product candidate, KIT-302, a combination of celecoxib and amlodipine. The company plans to submit NDA for the product by end of 2016.
- Heron Therapeutics (NASDAQ:HRTX) shares up 17% after FDA approval for granisetron extended release (SUSTOL) for chemotherapy induced nausea/vomiting prevention. The stock had a more than 30% runup already, so I am waiting and watching.
- FMR, LLC sells about $3 million of stock in Coherus Biosciences (NASDAQ:CHRS).
Meanwhile, a detailed research report on a company that is a institutional favorite is in works (with DCF valuation).
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Disclosure: This article represents my own opinion and is not a substitute for professional investment advice. It does not represent solicitation to buy or sell any security. Investors should do their own research and consult their financial advisor before making any investment.
Disclosure: I am/we are long SMMT, SRPT, PTCT, VTVT.