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Friday, July 26, 2019

Alexion Gets CHMP Nod for SOLIRIS for Neuromyelitis

Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced that the European Medicines Agency (EMA) Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion to extend the current marketing authorization of SOLIRIS®(eculizumab) to include the treatment of neuromyelitis optica spectrum disorder (NMOSD) in adult patients who are anti-aquaporin-4 (AQP4) antibody positive with a relapsing course of the disease. The European Commission will review the CHMP opinion and the final decision is anticipated within two months.
NMOSD is a rare, devastating, complement-mediated disorder of the central nervous system characterized by relapses, also referred to as attacks. Each attack results in stepwise accumulation of disability, including blindness and paralysis and sometimes premature death. NMOSD disproportionately strikes young women in the prime of their lives, with the average age of first onset at just 39 years. Previously known as Devic’s Disease, NMOSD is often confused with other neurological illnesses such as multiple sclerosis (MS), which can lead to delays in diagnosis and treatment with medicines that can worsen disease progression.

Novartis gets CHMP nod for Lucentis treatment for retinopathy of prematurity

Novartis International AG / Novartis receives positive CHMP opinion for Lucentis® treatment in preterm infants with retinopathy of prematurity (ROP), a disease causing visual impairment and blindness . Processed and transmitted by West Corporation. The issuer is solely responsible for the content of this announcement.
  • Lucentis (ranibizumab), if approved in the EU for this indication, will be the first and only pharmacological therapy for ROP in these vulnerable infants
  • Positive opinion is based on the landmark Phase III RAINBOW trial, which showed that Lucentis (ranibizumab) is an efficacious, safe and well-tolerated treatment for infants with ROP[1]
  • Standard of care treatment for ROP, laser surgery, destroys diseased retinal tissue responsible for elevated vascular endothelial growth factor (VEGF) whereas injectable Lucentis is a pharmacological therapy that directly targets and reduces VEGF[2]

EHealth Q2 top line up 101%; guidance raised

EHealth (NASDAQ:EHTH) is up 14% premarket on light volume following its Q2 results released after the close yesterday. Highlights:
Revenue up 101% to $65.8M, Medicare segment up 105% to $52.3M, Individual, Family and Small Business segment up 88% to $13.5M.
Non-GAAP EBITDA: $0.8M.
Cash consumption: $11.5M.
2019 guidance: Revenue: $365M – 385M from $315M – 335M; Medicare segment: $318M – 333M from $281M – 297M; Individual, Family and Small Business segment: $47M – 52M from $34M – 38M; net income: $15.5M – 20.5M from $15.0M – 20.0M; ; non-GAAP EBITDA: $65M – 70M from $55M – 60M; EPS: $0.62 – 0.82 from $0.60 – 0.79; non-GAAP EPS: $1.77 – 1.97 from $1.54 – 1.73.

Health Insurance Innovations to explore possible sale

Health Insurance Innovations (NASDAQ:HIIQ) is up 16% premarket on light volume following its announcement that the board will explore strategic alternatives aimed at boosting shareholder value, including a possible sale of the company.
Bank of America Merrill Lynch is advising.

Ocular Therapeutix up 6% premarket on Dextenza reimbursement code

Ocular Therapeutix (NASDAQ:OCUL) is up 6% premarket on average volume in reaction to the establishment of a specific Medicare reimbursement codefor DEXTENZA (dexamethasone ophthalmic insert). The code will take effect on October 1.

Analyst action: Cue, Dentsply, Neon, Celsion, West

Cue Biopharma (CUE) initiated with Outperform rating and $13 price target at Baird.
DENTSPLY SIRONA (XRAY +0.4%) initiated with Neural rating and $57 price target at Evercore ISI.
Neon Therapeutics (NTGN) initiated with Outperform rating and $15 price target at Baird.
Celsion (CLSN -1.7%) initiated with Buy rating and $9 price target at Brookline Capital.
West Pharmaceutical Services (WST +0.8%) upgraded to Neutral with a $135 price target at BofA Merrill Lynch.

Stryker target hiked to $240 from $205 by Piper

Maintains Overweight