Co-Diagnostics to host webinar on development of coronavirus test

Co-Diagnostics (NASDAQ:CODX) host a webinar tomorrow, February 5, to discuss its activities developing an assay for 2019-nCoV, the coronavirus causing the current outbreak, still largely confined to China.

https://seekingalpha.com/news/3537777-co-diagnostics-to-host-webinar-on-development-of-coronavirus-test

Bristol-Myers and BioMotiv launch new drug venture

Bristol-Myers Squibb (NYSE:BMY) and drug development accelerator BioMotiv launch Anteros Pharmaceuticals, a biotech focused on developing a new class of drugs to treat fibrotic and other inflammatory diseases. Anteros is the first such launch under the companies’ September 2019 partnership.

Under the terms of the venture, BMY will contribute intellectual property, data and reagents for a series of small molecules against an undisclosed mechanism. BioMotiv, working with Yale University, will be responsible for R&D. Once Anteros nominates a preclinical candidate, BMY will have the option to acquire Anteros from BioMotiv under pre-agreed terms.

https://seekingalpha.com/news/3537822-bristol-myers-and-biomotiv-launch-new-drug-venture

Bio-Techne fiscal Q2 top line up 6%

Bio-Techne (TECH) Q2 results: Revenues: $184.9M (+6.0%).

Net Income: $119.6M; EPS: $3.02; non-GAAP Net Income: $42.9M (+4.1%); non-GAAP EPS: $1.08 (+1.9%).

The Company formed a new joint venture focused on providing scalable manufacturing technologies and processes to develop and commercialize new cell and gene therapies.

Previously: Bio-Techne EPS misses by $0.06, misses on revenue (Feb. 4)

https://seekingalpha.com/news/3537877-bio-techne-fiscal-q2-top-line-up-6

Myomo soars on insurance coverage of MyoPro in Germany

Ultra-thinly traded nano cap Myomo (MYO +111.9%) is up on a healthy 39x surge in volume, albeit on turnover of only 363K shares, in apparent response to its announcement that a major health insurer in Germany, BARMER, is now covering the cost of the MyoPro powered arm and hand brace.
https://seekingalpha.com/news/3537946-myomo-rockets-112-on-insurance-coverage-of-myopro-in-germany

Abbott FILVAS device nabs accelerated review in U.S.

The FDA designates Abbott’s (ABT +2%) in-development Fully Implantable Left Ventricular Assist Device (FILVAS) a Breakthrough Device for patients with advanced heart failure.

The designation, akin to Breakthrough Therapy status for a drug, provides for more intensive guidance on development from the FDA, the involvement of more senior agency personnel, the assignment of a case manager, and priority review of the marketing application.

https://seekingalpha.com/news/3537965-abbott-filvas-device-nabs-accelerated-review-in-u-s

Centene slips 2% after higher-than-expected medical costs in Q4

Despite its Q4 results that met expectations, Centene (CNC -1.5%) is lagging the broad market advance in apparent response its higher-than-expected medical benefit ratio (the proportion of health insurance premiums paid out in claims) last quarter, 88.4% compared to consensus of 87.6%.

Cowen’s Charles Rhyee (Outperform/$83) says the miss may heighten concerns with 2020 margins but his group remains positive ahead of the release of consolidated guidance (includes WellCare) on March 3.

Citigroup’s Ralph Giacobbe agrees, adding that Q4’s better-than-expected expenses provided “some offset” to higher medical costs although he will not be surprised if shares remain under pressure until guidance is released.

https://seekingalpha.com/news/3537973-centene-slips-2-after-higher-expected-medical-costs-in-q4

Taro down 4% after FQ3 report, continued sales headwinds

Taro Pharmaceutical Industries (TARO -4%) fiscal Q3 results:

Sales: $147.7M (-16.3%). Shortfall due to competition, especially in U.S. generics.

Net income: $67.7M (-27.6%); EPS: $1.76 (-26.7%).

Cash flow ops (9 mo.): $222.0M (-16.3%).

Taro Pharmaceutical EPS beats by $0.22, misses on revenue 

https://seekingalpha.com/news/3537996-taro-down-4-after-fq3-report-continued-sales-headwinds