Cardiovascular Systems announced that Japan’s Ministry of Health, Labor and Welfare has approved the Diamondback 360 Coronary Orbital Atherectomy System with Classic Crown and ViperWire Advance Coronary Guidewire FlexTip. Classic Crown is a coronary atherectomy device in the U.S. Classic Crown utilizes a 1.25mm eccentrically mounted diamond-coated crown and a patented combination of centrifugal force and differential sanding to safely modify arterial calcium. This device now features GlideAssist, which allows for tracking, easier removal and smoother repositioning of the device – particularly in challenging anatomies. FlexTip is a unique new atherectomy guidewire with a nitinol core and shapeable stainless-steel tip for increased flexibility and kink-resistance, improved navigation, and reduced guidewire bias in complex coronary vessels. Classic Crown can also be used with ViperWire Advance Coronary Guidewire FlexTip.
Wednesday, January 2, 2019
Synthorx initiated at H.C. Wainwright
Synthorx initiated with a Buy at H.C. Wainwright. H.C. Wainwright analyst Debjit Chattopadhyay started Synthorx with a Buy rating and $30 price target. The company’s Expanded Genetic Alphabet technology gives it the ability to manipulate the innate biological interaction of cytokines and adapt them to applications either in oncology or autoimmune diseases, “expanding the versatility and scope of the platform,” says the analyst.
Moderna initiated at Needham
Moderna initiated with a Buy at Needham. Needham analyst Alan Carr kept his Buy rating and a price target of $28 on Moderna, citing his positive view of the company “leveraging an mRNA drug/ drug delivery platform to generate an extensive pipeline across oncology, infectious diseases, cardiology, and rare diseases.” With the company having “generated preclinical and clinical proof of concept of technology”, the analyst expects its first mRNA drug to hit the market around 2024. While mRNA space has other players, Carr sees Moderna having a “particularly strong position for long-term success” thanks to its “extensive resources and know-how.”
Sunesis opens 100 mg cohort of vecabrutinib trial
Sunesis announced that the company has opened the 100 mg cohort in the Phase 1b/2 trial of its non-covalent BTK inhibitor vecabrutinib in adults with relapsed/refractory chronic lymphocytic leukemia and other B-cell malignancies. Preliminary safety, pharmacokinetic, and pharmacodynamic data from the now completed 50 mg cohort of the study were recently presented at the American Society of Hematology.
Baxter upgraded to Overweight from Underweight at Morgan Stanley
Morgan Stanley analyst David Lewis double upgraded Baxter to Overweight from Underweight, stating that the company has the most flexible balance sheet in traditional large cap devices and he believes the company should focus on growth oriented deployment of its resources for multiple transactions, not a transformational deal that would bring significant execution risk and could express a lack of confidence in underlying business recovery. He also believes the stock’s current valuation largely reflects the company’s 3-4% weighted average market growth rate but not the acceleration by 2020 that he believes could drive Baxter’s growth rate back up. Lewis raised his price target on Baxter shares to $77 from $66.
Arcturus Therapeutics to develop ARCT-810 for OTCD
Arcturus Therapeutics announced the nomination of its first development candidate, ARCT-810, to treat ornithine transcarbamylase deficiency, or OTCD. OTCD is the most common urea cycle disorder. Urea cycle disorders are a group of inherited metabolic disorders that make it difficult for afflicted patients to remove toxic waste products, as proteins are digested. ARCT-810 is based on Arcturus’s propriety lipid library which utilizes the company’s Lunar delivery platform to safely and effectively deliver OTC messenger RNA to liver cells.
Morgan Stanley cuts Globus to Equal Weight, sees consensus as too aggressive
Morgan Stanley analyst Jonathan Demchick downgraded Globus Medical (GMED) to Equal Weight from Overweight, contending that consensus expectations have become too aggressive and need to be reset. The analyst argues that pent-up demand may have elevated 2018 robotic sales and that Medtronic’s (MDT) Mazor X Stealth approval and bundling efforts may pressure Globus sales in 2019. Demchick lowered his price target on Globus shares to $49 from $64.
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