The Company believes that culmination of terms representing the best interests of its stockholders is not to be achieved at the current time.
Shares are up 11% premarket.
Previously: ChemoCentryx launches $75M stock offering (Sept. 26)
Friday, September 28, 2018
Corcept granted orphan status for pancreatic cancer treatment
The FDA granted Corcept Therapeutics orphan status for relacorilant, its treatment of pancreatic cancer
Walgreens Boots Alliance to pay $34.M penalty to SEC to resolve probe
Walgreens Boots Alliance announced that the company has reached an agreement with the SEC to fully resolve an investigation into forward-looking financial goals and related disclosures by Walgreen Co. The disclosures at issue were made prior to the merger with Alliance Boots and the establishment of Walgreens Boots Alliance on December 31, 2014. The settlement does not involve any of Walgreens Boots Alliance’s current officers or executives, nor does it allege that anyone acted intentionally or recklessly at any time. In agreeing to the settlement, Walgreens Boots Alliance neither admits nor denies the SEC’s allegations that Walgreens and its then CEO and then CFO acted negligently in connection with statements made in the June 2013, October 2013, December 2013 and March 2014 earnings calls, by failing to adequately disclose the increased risk to achieving certain of Walgreens previously stated fiscal 2016 financial goals. Following warnings in December 2013 and March 2014, Walgreens withdrew those fiscal 2016 goals in June 2014. Pursuant to the agreement with the SEC, Walgreens Boots Alliance consented to the SEC’s issuance of an administrative order, and the company will pay a $34.5M penalty, which has been fully reserved for, while the Walgreens then CEO and then CFO separately resolved the matter with the SEC. Walgreens Boots Alliance cooperated fully with the SEC’s investigation and believes the agreement is in the best interest of the company.
https://thefly.com/landingPageNews.php?id=2797153
Piper says Alnylam making transition to commercial play on orphan diseases
After Alnylam announced an NDA filing on Onpattro for hATTR Amyloidosis in Japan, Piper Jaffray analyst Edward Tenthoff said the company is transitioning toward being a commercial play on orphan diseases. The analyst, who forecasts 2018 Onpattro sales of $10.7M growing to $81M in 2019, keeps an Overweight and $160 price target on Alnylam shares.
https://thefly.com/landingPageNews.php?id=2797205
Opiant Pharmaceuticals price target raised to $42 from $32 at Cantor
Cantor Fitzgerald analyst Brandon raised his price target for Opiant Pharmaceuticals to $42 citing upwards earnings revisions for Narcan and a revised share count post the recently completed equity financing. The company is developing treatments focused on multiple addictions including a next-generation, improved Narcan, OPNT003, which has a longer half-life, offering better reversal outcomes in fentanyl-related overdoses, Folkes tells investors in a research note. He believes Emergent BioSolutions’ recent acquisition of Adapt Pharma for $735M underscores the value of the opioid overdose market. As Opiant advances its pipeline, investors to begin to appreciate the market potential of its candidates, which should drive the stock higher, the analyst contends. Folkes reiterates an Overweight rating on the shares.
https://thefly.com/landingPageNews.php?id=2796975
AMN Healthcare’s recent headwinds have stabilized, says Jefferies
After spending time with management, Jefferies analyst Jason Plagman has greater confidence that AMN Healthcare Services’ recent headwinds have stabilized in Q3. The company’s organic growth is poised to accelerate back to positive mid-single-digits in 2019, which should drive greater than 10% earnings growth, Plagman tells investors in a research note. He keeps a Buy rating on AMN Healthcare with a $68 price target.
https://thefly.com/landingPageNews.php?id=2797021
Endo issues voluntary recall of two lots of Robaxin 750mg Tablets
Endo announced that one of its operating companies, Endo Pharmaceuticals Inc., is voluntarily recalling two lots of Robaxin 750mg Tablets 100 Count Bottle pack to the consumer level. The products have been found to have incorrect daily dosing information on the label due to a labeling error which misstates the daily dose as “two to four tablets four times daily” rather than the correct dosage of “two tablets three times daily.” Patients who follow the directions on the bottle may experience significant drowsiness or dizziness which would put them at risk of falls or an overdose which could result in seizures, coma, or death. To date, Endo Pharmaceuticals Inc. has not received any reports of adverse events related to this recall.
https://thefly.com/landingPageNews.php?id=2797037
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