SAN DIEGO, Jan. 21, 2017 /PRNewswire/ -- Johnson & Weaver, LLP announces that a class action complaint was filed on behalf of purchasers of Seattle Genetics, Inc., (NASDAQ: SGEN) securities during the period between October 27, 2016, and December 23, 2016, inclusive (the "Class Period"). Seattle Genetics, a biotechnology company, develops and commercializes targeted therapies for the treatment of cancer worldwide.
President Trump could shake up the pharmaceutical world. If he delivers on his promises, it means that Pfizer (NYSE:PFE), one of the biggest of the big pharma companies, is in for some significant changes. How might Pfizer fare in a Trump Administration?
After a blistering rise immediately following the election in November, the S&P 500 Index has remained range-bound for more than a month. Investors were awaiting President Donald Trump’s inauguration and a slew of earnings reports coming up later in January. Despite the market’s stagnation, a number of companies continued paying higher dividends to shareholders.
2016...what a year. Just after we sent out our holiday letter, the fund's performance climbed higher in December and we ended on a positive note:
The stock market had a good year in 2016, with double-digit percentage returns rewarding investors who stayed invested despite the aging bull market. Yet even though those gains are solid, they pale in comparison to the much larger increases in share prices that some individual stocks saw. In particular, Freeport-McMoRan (NYSE:FCX), SodaStream International (NASDAQ:SODA), and Array BioPharma (NASDAQ:ARRY) have all tripled in value over the past 12 months, and different factors led to their respective success.
Our price estimate of $115 for Johnson & Johnson is roughly in line with the market.
The Q4 earnings season has gotten off to a good start, with earnings and revenue growth tracking above other recent periods and on track to reach the highest level in 8 quarters. Positive surprises, particularly on the earnings front, are a bit on the low side relative to historical periods at this stage. We will see if this trend continues this week as we enter the heart of the earnings season, with more than 300 companies coming out with quarterly results, including 105 S&P 500 members.
Data for Phase 2b study of lead drug Aramchol in 240 NASH patients due in second quarter of 2018.
How to take advantage of the mispricing in SPACs, the differences in the due diligence process and the importance of having a variant view are topics discussed; Dane Capital shares a long idea on Pace Holdings.
Voyager Therapeutics (NASDAQ:VYGR) announces updates regarding the Phase 1b study of VY-AADC01 for patients with advanced Parkinson’s disease.
Pluristem Therapeutics (NASDAQ:PSTI) amends its underwriting agreement with H.C. Wainwright to increase its "bought deal" offering to $15M. Under the bought deal arrangement, Wainwright will purchase the entire offering of 12,244,898 common shares at $1.225. It will also receive warrants to purchase up to 7,346,939 common shares at $1.40. Gross proceeds will be $15M.
The first patient has been enrolled in Global Blood Therapeutics' (NASDAQ:GBT) Phase 3 clinical trial, HOPE, evaluating lead product candidate GBT440 in people with sickle cell disease (SCD) who have had at least one episode of vaso-occlusive crisis (VOC) in the previous year. The primary endpoint is the proportion of participants who achieve more than a 1 g/dL increase in hemoglobin at week 24 compared to baseline.
Bristol-Myers Squibb (NYSE:BMY) and Ono Pharmaceutical Company, Ltd. reach a global patent settlement with Merck (NYSE:MRK) related to cancer med Keytruda (pembrolizumab). BMY and Ono claimed that Keytruda, a PD-1 antibody, infringed on their patents related to the use of PD-1 antibodies [BMY's is Opdivo (nivolumb)] to treat cancer in the U.S., Europe, Australia and Japan.
Infinity Pharmaceuticals (INFI +21.3%) is up on triple normal volume in response to its announcement of positive preclinical data for lead oncology candidate IPI-549. The results were presented at the Keystone Symposia Conference "PI3K Pathways in Immunology, Growth Disorders and Cancer" in Sante Fe, New Mexico.
SAN DIEGO, Jan. 20, 2017 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP, is investigating potential claims against Rent-A-Center, Inc., KalVista Pharmaceuticals, Inc., NovoCure Limited, and Inotek Pharmaceuticals Corp., as detailed below:
The European Medicines Agency (EMA) accepts for review Gilead Sciences' (NASDAQ:GILD) Marketing Authorization Application (MAA) seeking approval of its once-daily single-table regimen of sofosbuvir 400 mg, velpatasvir 100 mg and voxilaprevir 100 mg (SOF/VEL/VOX) for the treatment of chronic hepatitis C virus (HCV) infection. The MAA has accelerated review status which shortens the review clock to 150 days from the usual 210 days.
In what it says will be the only hike this year, AbbVie (ABBV -0.2%) raises the price of top seller Humira (adalimumab) 8.4%. It usually bumps the price twice annually, most recently by 9.9% and 7.9%. Ten years ago, a Humira pen injector with two syringes sold for $1,258 while today the tab is $4,441, a compounded price gain per year of over 13%.
The remarkable up moves in tiny biotechs this month includes nano cap Diffusion Pharmaceuticals (OTCQX:DFFN +18.2%). Shares almost tripled on January 10 before retracing 73%. With today's move, prices are still ahead 154% since January 9.
When Teva Pharmaceutical (NYSE:TEVA) acquired the Actavis generic drug business from Allergan (NYSE:AGN) in August 2016, the Company not only paid a big financial price ($40.5 billion using $33.75 billion cash and $6.75 billion in TEVA's stock), but it also paid a big operational price. The US Federal Trade Commission would only clear the transaction after TEVA agreed to divest one or more strengths of 79 different drugs.
JPMorgan downgrades Teva Pharmaceutical Industries (NYSE:TEVA) and Endo International (NASDAQ:ENDP) to Neutral from Overweight citing the need for a "clearer picture of fundamentals." Price targets have been lowered to $40 (20% upside) and $20 (55% upside), respectively.
IRVINE, CA / ACCESSWIRE / January 20, 2017 / Khang & Khang LLP (the "Firm") announces that it is filing a class action lawsuit against Agile Therapeutics, Inc. ("Agile" or the "Company") (NASDAQ: AGRX) concerning possible violations of federal securities laws, on behalf of investors who purchased or otherwise acquired Agile shares between March 9, 2016 and January 3, 2017 inclusive (the "Class Period").
LOS ANGELES, CA / ACCESSWIRE / January 20, 2017 / Lundin Law PC, a shareholder rights firm announces a class action lawsuit against Seattle Genetics, Inc. ("Seattle Genetics" or the "Company") (NASDAQ: SGEN) concerning possible violations of federal securities laws. Investors who purchased or otherwise acquired Seattle Genetics shares between October 27, 2016 and December 23, 2016, inclusive (the “Class Period”), are encouraged to contact the firm prior to the March 17, 2017 lead plaintiff motion deadline.
Amarin (NASDAQ:AMRN) announces that it and its wholly owned subsidiary, Corsicanto II Designated Activity Company, have entered into purchase agreements with certain investors pursuant to which Corsicanto will issue and sell $30M in aggregate principal amount of 3.50% Exchangeable Senior Notes due 2047 guaranteed by Amarin, at par.
Thinly traded micro cap Concert Pharmaceuticals (NASDAQ:CNCE) is up 8% premarket, albeit on only 1,170 shares, in response to its announcement that the FDA has designated Phase 2-stage CTP-656 an Orphan Drug for the treatment of cystic fibrosis. Among the benefits of Orphan Drug status is a seven-year period of market exclusivity in the U.S. for the indication, if approved.
Johnson & Johnson (NYSE:JNJ) has become a colossus in the healthcare industry with its exposure to the pharmaceutical, medical device, and consumer over-the-counter health-products markets combining to make the company a force to be reckoned with. Yet although the stock performed well in 2016, gaining 15% for the year, J&J shares lost ground in the second half of the year. Now, some investors are worried that harsher drug-pricing regulations could eat into profits in what has been J&J's biggest source of growth recently.