Health insurers add to rally as Sanders suspends campaign

The broad market’s up move notwithstanding, health insurers and managed care providers are rallying in apparent reaction to the news that Senator Bernie Sanders, a fervent proponent of “Medicare For All,” has dropped out of the race for president.

Selected tickers: CVS Health (CVS +2.5%), WellCare Health Plans (WCG), UnitedHealth Group (UNH +2.0%), Triple-S Management (GTS +4.9%), Molina Healthcare (MOH +6.5%), Humana (HUM +2.8%), Cigna (CI +1.9%), Centene (CNC +3.7%), Anthem (ANTM +5.3%)

https://seekingalpha.com/news/3559377-health-insurers-add-to-rally-sanders-suspends-campaign

Hospital groups rally on prospects of COVID-19 turnaround

Hospital operators are up on the heels of comments from NIAID’s Dr. Anthony Fauci that COVID-19 deaths appear to be peaking with hospitalizations already trending down, allaying fears, at least preliminarily, that the pandemic will not overrun them.

Selected tickers: Universal Health Services (UHS +6.7%), Surgery Partners (SGRY +23.8%), SunLink Health Systems (SSY +0.8%), Quorum Health (QHC), Tenet Healthcare (THC +20.5%), Community Health Systems (CYH

+10.1%), HCA Healthcare (HCA +8.0%), Humana (HUM +1.9%)
https://seekingalpha.com/news/3559369-hospital-groups-rally-on-prospects-of-covidminus-19-turnaround

MediciNova to launch MN-166 trial for COVID-19

MediciNova (NASDAQ:MNOV) plans to initiate a clinical trial of MN-166 (ibudilast) for acute respiratory distress syndrome caused by COVID-19.

The study will be conducted by Yale’s Advanced Therapies Group. There are approx. 200 COVID-19 patients at Yale, with 34 on ventilators.

The trial will also allow investigators to determine the optimal dose and route of administration in these very critical patients.

https://seekingalpha.com/news/3559216-medicinova-to-launch-mnminus-166-trial-for-covidminus-19

Regeneron teams up with Zai Lab to commercialize antibody in Greater China

Regeneron Pharmaceuticals (NASDAQ:REGN) will collaborate with Zai Lab Limited (NASDAQ:ZLAB) to develop and commercialize REGN1979, a CD20xCD3 bispecific antibody, in Greater China (mainland China, Hong Kong, Taiwan and Macau). The partnership will start with a pivotal Phase 2 study in B-cell non-Hodgkin lymphoma.

Under the terms of the agreement, Regeneron will receive $30M upfront, up to $160M in milestones and a share of profits. Zai Lab will contribute to global development costs for certain trials. Regeneron will manufacture and supply.

Zai Lab hosted a conference call this morning at 8:00 am ET to discuss the partnership.

https://seekingalpha.com/news/3559219-regeneron-teams-up-zai-lab-to-commercialize-antibody-in-greater-china

Amgen/Adaptive Biotech set webinar on COVID-19 drug partnership

Amgen (NASDAQ:AMGN) and Adaptive Biotechnologies (NASDAQ:ADPT) will host a webinar tomorrow, April 9, at 11:00 am ET to discuss their collaboration to develop a therapeutic to prevent or treat COVID-19.

Amgen EVP of R&D David Reese, M.D. and Adaptive co-founder and CSO Harlan Robins, Ph.D. will lead.

https://seekingalpha.com/news/3559217-amgen-adaptive-biotech-set-webinar-on-covidminus-19-drug-partnership

Novavax up on advancement of COVID-19 vaccine candidate

Novavax (NASDAQ:NVAX) announces that it has identified a coronavirus vaccine candidate, a stable prefusion protein that it has named NVX-CoV2373, that will also incorporate its Matrix-M adjuvant.

A Phase 1 study in ~130 healthy volunteers will launch in mid-May. Safety and preliminary immunogenicity data should be available in July.

https://seekingalpha.com/news/3559220-novavax-up-6-premarket-on-advancement-of-covidminus-19-vaccine-candidate

Bristol applications for Opdivo + Yervoy new use accepted in U.S. and Europe

The FDA and EMA (European Medicines Agency) have accepted for review Bristol-Myers Squibb’s (NYSE:BMY) supplemental marketing applications seeking approval to use the combination of Opdivo (nivolumab) and Yervoy (ipilimumab), together with limited chemo, for the first-line treatment of patients with recurrent/metastatic non-small cell lung cancer (NSCLC) with no EGFR or ALK mutations.

The FDA’s action date is August 6.

The company’s partner in Japan, Ono Pharmaceutical Co., filed a marketing application there about two weeks ago.

https://seekingalpha.com/news/3559226-bristol-myers-squibb-applications-for-new-use-of-o-y-accepted-in-u-s-and-europe