Citron warns on COVID-19 play Inovio

As if informed investors need any additional words of warning on high-risk companies caught up in the coronavirus frenzy, Citron Research tweeted this morning about the dubious claims made by Inovio Pharmaceuticals (INO +10.6%), up eight-fold since early October 2019, that it designed a COVID-19 vaccine in three hours after receiving the genetic sequence of the SARS-CoV-2 virus. Citron regards its claim as “ludicrous” and “dangerous,” adding that the SEC should suspend trading in the company’s shares.

Unsurprisingly, Citron believes the stock will promptly return to the $2-range after the market’s animal spirits subside.

Informed investors also know that Inovio is not alone here.

https://seekingalpha.com/news/3549774-citron-warns-on-covidminus-19-play-inovio-pharmaceuticals

Mylan, Biocon: FDA Accepts BLA for Proposed Avastin Biosimilar

Mylan N.V. and Biocon Ltd. on Monday said the U.S. Food and Drug Administration accepted Mylan’s biologics license application for MYL-1402O, a proposed biosimilar to Genentech’s cancer drug Avastin, in several forms of cancer.
The companies said the agency set a target action date of Dec. 27 for the application.
U.K.-based Mylan and India’s Biocon, which are exclusive partners on a broad portfolio of biosimilar and insulin products, said MYL-1402O, if approved, would be the third biosimilar from the partnered portfolio for cancer patients in the U.S.
Biosimilar products are the generic equivalents of biologic drugs, which are created from living cells.
The companies said the application seeks approval of MYL-1402O for first-line and second-line treatment of patients with metastatic colorectal cancer in combination with fluorouracil-based chemotherapy; first-line use for patients with non-squamous non-small cell lung cancer; recurrent glioblastoma; metastatic renal cell carcinoma in combination with interferon alfa; and persistent, recurrent or metastatic cervical cancer.
Genentech is a unit of Roche Holding AG.
https://www.marketscreener.com/MYLAN-N-V-21077045/news/Mylan-Biocon-FDA-Accepts-BLA-for-Proposed-Avastin-Biosimilar-30130372/

AbbVie: Can’t Confirm Reports About Efficacy Of Drug In Treating Coronavirus

AbbVie Inc. said it can’t confirm reports about the efficacy of one of its therapies in treating people with the coronavirus.
Media reports in China have said that an AbbVie drug designed for HIV patients is effective in treating Covid-19, the disease that the coronavirus cases, AbbVie said Monday.
“AbbVie does not have access to Chinese clinical information and therefore cannot confirm its accuracy,” the company said.
The drug, marketed as Kaletra or Aluvia, contains two protease inhibitors, lopinavir and ritonavir, according to the company.
AbbVie said it had supplied Kaletra or Aluvia as an experimental option to treat people with the coronavirus to multiple countries and has seen higher demand for the drug. The Chinese government was among the recipients of Aluvia.
“While helping respond to the Covid-19 crisis is a high priority, the company is committed to protecting the supply of Kaletra/Aluvia for HIV patients,” AbbVie said.
Share of North Chicago, Ill.-based AbbVie fell 6.2% premarket.

https://www.marketscreener.com/ABBVIE-INC-12136589/news/AbbVie-Says-It-Can-t-Confirm-Reports-About-Efficacy-Of-Drug-In-Treating-Coronavirus-30130937/

Opko Health ‘obvious’ coronavirus pump – Hindenburg

In a tweet, Hindenburg Research calls OPKO Health (OPK +1.7%) an “obvious” coronavirus pump citing the stock fraud troubles of Chairman & CEO Philip Frost.

Last week, shares rallied after the company announced that subsidiary BioReference Laboratories will launch a COVID-19 testing service this week (all major reference labs are doing the same which will favor LabCorp and Quest due to their large footprints).

Shares were down over 11% intraday before recovering.

https://seekingalpha.com/news/3549809-opko-health-obvious-coronavirus-pump-hindenburg

ViiV Healthcare re-ups with UNC-Chapel Hill

ViiV Healthcare has renewed its research agreement, aimed at finding a cure for HIV infection, with the University of North Carolina – Chapel Hill to the tune of $20M over five years. The parties have been working together since 2015.

Under the terms of the extended contract, the companies will continue to collaborate at the HIV Cure Center located on the university’s campus and will continue their joint ownership of Qura Therapeutics, created in 2015, to manage the intellectual property, commercialization, manufacturing and governance needs of the partnership.

ViiV Healthcare is the HIV-focused joint venture between GlaxoSmithKline (GSK -2.4%), Pfizer (PFE -3.1%) and Shionogi (OTCPK:SGIOY -3.5%).

https://seekingalpha.com/news/3549783-viiv-healthcare-re-ups-unc-chapel-hill

Vertex backs 2020 forecast

Vertex Pharmaceuticals (VRTX -4.3%) says the COVID-19 outbreak has not negatively impacted its supply chain or 2020 outlook, adding that has safety stock to account for potential disruptions and has secured second-source suppliers in a range of geographies.

2020 guidance issued on January 30: Product sales: $5.1B – 5.3B.

https://seekingalpha.com/news/3549787-vertex-backs-2020-forecast

FDA warns scammers over COVID-19 ‘treatments’

Consistent all disease-related market gyrations, dubious companies peddling bogus cures and vaccines for COVID-19 are out in number.

Today, the FDA warned seven:  Vital Silver, Quinessence Aromatherapy Ltd., Xephyr, LLC doing business as N-Ergetics, GuruNanda, LLC, Vivify Holistic Clinic, Herbal Amy LLC, and The Jim Bakker Show over claims that certain of their products, including oils, teas, tinctures and colloidal silver, can be used prevent, treat or cure COVID-19.

At present, as informed investors know, there are no approved or validated treatments for the respiratory infection.

ETFs: THW, BME, GRX, IXJ, GDNA, KMED, XLV

https://seekingalpha.com/news/3549790-fda-warns-scammers-over-covidminus-19-treatments