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Tuesday, March 12, 2019

BionTech stock offering could be worth as much as $800 million – sources

German’s BionTech, Europe’s largest unlisted biotech firm by staff numbers, has hired banks to prepare for an initial public offering (IPO) as early as this year, people familiar with the plan told Reuters.

Bank of America and JP Morgan have been retained as global coordinators for the planned listing on the U.S. Nasdaq exchange some time in the fourth quarter or in early 2020, with a stock offering worth as much as $800 million (607 million pounds), the sources said.
The transaction could value the firm at roughly $4 billion, though deal terms and timing could be subject to change, they added.
Biontech, which has previously said it was eyeing a future public listing, did not immediately respond to a request for comment.

Altria, Philip Morris move lower after NCI head pegged to lead FDA

Shares of both Altria Group (MO) and Philip Morris (PM) moved lower following news that Ned Sharpless, current director of the National Cancer Institute, will be named the next commissioner of the FDA. On Twitter, Sharpless has supported the FDA’s crackdown on e-cigarettes. “The @US_FDA has taken several steps to curb the appeal of #ecigarettes to kids. A very positive measure to address this growing concern,” he tweeted. British American Tobacco (BTI) and Imperial Brands (IMBBY) are other names in the tobacco space.

Akorn higher after Intereconomia claims Baxter near takeover deal

https://thefly.com/landingPageNews.php?id=2878002

NCI’s Ned Sharpless gets the nod to run the FDA

The head of the National Cancer Institute, UNC alum Norman “Ned” Sharpless, has been tapped as the next head of the FDA.
The news follows a few different stories pointing to Sharpless as the likely next helmsman of the agency, where the popular commissioner Scott Gottlieb announced his surprise resignation less than 2 years after taking the post. And Gottlieb was quick to offer a thumb’s up.
Sharpless won’t encounter much, if any, opposition in the biopharma industry, but execs will be waiting to see if he can come close to matching Gottlieb’s zeal for speeding up agency reviews and hastening approvals at a time of record new drug OKs — including the initial launches for the first in a whole new generation of cell and gene therapies.
Sharpless has a solid resume that resonates well with industry execs. He graduated from UNC School of Medicine and did his residency at Mass General. Following a 2-year stint at Harvard Med he went back to UNC, where he became the Wellcome Professor of Cancer Research at UNC in 2012. He was tapped to run the NCI in 2017.
That all translates into instant respect in biopharma, but not necessarily enthusiasm.
Respect, though, will go a long way in setting the stage for Sharpless, particularly as earlier candidates pitched to President Donadl Trump includes at least one with an odd libertarian streak that didn’t sit well with drug developers devoted to maintaining a gold standard for new drug approvals — even if that standard has proven increasingly flexible.

Merck KGaA proxy urges Versum shareholders vote against Entegris deal

Merck KGaA (MKGAY) announced that it filed a preliminary proxy statement with the U.S. Securities and Exchange Commission, urging all Versum (VSM) shareholders to vote “Against” the Entegris (ENTG) acquisition and related proposals at the Versum special meeting of shareholders. Merck KGaA “is convinced that the proposed Entegris transaction is not the best option available to the Versum shareholders, and that its proposal – $48 per share, all cash – is superior to the Entegris acquisition. In addition to the immediate certainty of cash, Merck KGaA, Darmstadt, Germany’s proposal represents a premium of 51.7% to the undisturbed trading price per Versum share on the trading day prior to the announcement of the proposed Entegris transaction and a premium of 15.9% to the value per Versum share at the time of the proposal. Furthermore, the market reaction following the announcement of Merck KGaA, Darmstadt, Germany’s proposal clearly indicates that the investment community views it as superior,” the company stated.
https://thefly.com/landingPageNews.php?id=2877975

AnaptysBio jumps after JPMorgan surveys doctors on asthma data

Shares of AnaptysBio (ANAB) are higher after JPMorgan analyst Anupam Rama asked 60 U.S. physicians about the company’s Phase 2a eosinophilic asthma data for etokimab. While acknowledging the data for etokimab are early stage, Rama told investors earlier in a research note that he is “broadly encouraged” by the enthusiasm of the surveyed physicians. Regeneron’s (REGN) cautious commentary on monotherapy activity of its IL-33 antibody, REGN3500, has emerged as an overhang on AnaptysBio’s etokimab asthma program, but anecdotal feedback in the survey suggests IL-33 inhibition is viewed as an “interesting mechanism,” Rama wrote. He sees a “number of potential value creating catalysts” for AnaptysBio shares in mid-2019, including Phase 2b data of etokimab in atopic dermatitis, Phase 2 data of etokimab in chronic rhinosinusitis with nasal polyps, and Phase 2 data from ANB019 in generalized pustular psoriasis. The analyst keeps an Overweight rating on AnaptysBio. The stock in late morning trading is up 9%, or $6.05, to $71.99 in late morning trading.

Tonix Enrolls Phase 3 Trial of PTSD Treatment

Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (Tonix or the Company) a clinical-stage biopharmaceutical company focused on developing pharmaceutical products to treat serious neuropsychiatric conditions and biological products to improve biodefense, announced today that the first participant was enrolled in the RECOVERY study, a new Phase 3 study of Tonmya (cyclobenzaprine HCl sublingual tablets) 5.6 mg for the treatment of posttraumatic stress disorder (PTSD).
‘Tonix is committed to improving the lives of the millions who suffer from PTSD, especially military-related PTSD, and enrolling the first participant in the RECOVERY study is an important step towards achieving this goal,’ said Seth Lederman, M.D., Tonix’s President and Chief Executive Officer. ‘We believe the innovative design features of the RECOVERY study, which are based on careful analyses of data from our prior PTSD trials, in addition to FDA feedback, may increase the probability of success of the RECOVERY study. We look forward to progressing enrollment and to anticipated topline results in the first half of next year.’