Centene posts strong Q2 but lowers guidance

Centene (CNC) Q2 results:

Revenues: $27,712M (+51.0%); Medicaid: $18,129M (+49.6%); Commercial: $4,136M (+6.8%); Medicare: $35,38M (+141.5%); Medicare PDP: $674M; Other: $1,235M (+37%).

Net Income: $1,206M (+143.6%); EPS: $2.05 (+73.7%); non-GAAP Net Income: $1,410M (+151.3%); non-GAAP EPS: $2.40 (+79.1%).

CF Ops: $3,474M (+55.6%).

Health benefits ratio: 82.1% (-5.3%); Managed care membership of 24.6M (+64%).

The Q2 results benefited from lower medical utilization as a result of the COVID-19 pandemic.

https://seekingalpha.com/news/3595715-centene-posts-strong-q2-lowers-guidance

Pfizer up after Q2 beat and stronger than expected full-year guidance

Pfizer (PFE) Q2 results:

Revenues: $11,801M (-11.0%); Biopharma: $9,795M (+3.8%); Upjohn: $2,006M (-32.5%).

Q2 revenues included a net unfavorable impact of ~$500M, or 4%, due to COVID-19.

Internal Medicine: $2,279M (+2%); Oncology: $2,647M (+18%); Hospital: $1,794M (-2%); Vaccines: $1,247M (-9%); Inflammation & Immunology: $1,149M (-6%); Rare Disease: $681M (+31%).

Key Product Sales: Ibrance: $1,349M (+7%); Eliquis: $1,272M (+17%); Prevnar 13/Prevenar 13: $1,116M (-5%); Xeljanz: $635M (+4%); Enbrel: $337M (-20%); Xtandi alliance revenues: $266M (+32%); Chantix/Champix: $235M (-15%); Lyrica: $349M (-70%); Lipitor: $431M (+6%); Norvasc: $222M (+3%); Vyndaqel/Vyndamax: $277M; Inlyta: $195M (+87%).

Net Income: $3,426M (-32.1%); EPS: $0.61 (-31.5%); non-GAAP Net Income: $4,403M (-2.6%); non-GAAP EPS: $0.78 (-2.5%).

2020 Guidance: Revenues: $48.6B – 50.6B from $48.5B – 50.5B. The midpoint for analyst expectations was $48.7B; non-GAAP EPS: $2.85 – 2.95 from $2.82 – 2.92. The midpoint for analyst expectations was $2.83.

https://seekingalpha.com/news/3595768-pfizerplus-3-after-q2-beat-and-stronger-expected-full-year-guidance

AC Immune announces new positive data on PET tracer

AC Immune SA (NASDAQ:ACIU) announces new preclinical data on its next-generation alpha-synuclein positron emission tomography-(PET) tracer. The results were presented virtually at the Alzheimer’s Association International Conference.

The company says the data showed enhanced contrast and alpha-synuclein target specificity, positioning the tracer to become a first-in-class precision diagnostic tool for Parkinson’s disease (PD).

Alpha-synuclein misfolding, aggregation and seeding are the molecular basis for the formation of Lewy bodies, a hallmark of PD, multiple system atrophy, and Lewy body dementia.

https://seekingalpha.com/news/3595802-ac-immune-announces-new-positive-data-on-pet-tracer

Twist Bioscience launches two research use antibody panels for COVID-19

Twist Bioscience (NASDAQ:TWST) has announced the availability of two new SARS-CoV-2 antibody panels designed for research use only.

The first panel includes 32 human antibodies and targets SARS-CoV-2 spike protein.

The second panel includes 48 antibodies targeting extracellular domain of the ACE2 receptor on human cells, the receptor that facilitates entry of SARS-CoV-2 into the cells.

https://seekingalpha.com/news/3595820-twist-bioscience-launches-two-research-use-antibody-panels-for-covidminus-19

Momenta med nabs Rare Pediatric Disease tag for anemia in newborns

The FDA has signed off on Rare Pediatric Disease designation for Momenta Pharmaceuticals’ (NASDAQ:MNTA) nipocalimab for the prevention of hemolytic disease of the fetus and newborn, a rare disorder in babies in which red blood cells break down at a fast rate, a condition called erythroblastosis fetalis, caused by incompatibility between maternal and fetal blood groups. It occurs in 3K – 8K U.S. pregnancies each year.

Rare Pediatric Disease Designation provides for the issuance of a rare pediatric disease priority review voucher following FDA approval. The voucher can be used for accelerated approval of a future application or it can be sold to a third party.

Nipocalimab is a fully human anti-neonatal Fc receptor (FcRn) aglycosylated immunoglobulin G (IgG1) monoclonal antibody engineered to reduce circulating IgG antibodies by blocking IgG recycling.

https://seekingalpha.com/news/3595823-momentas-nipocalimab-nabs-rare-pediatric-disease-tag-for-anemia-in-newborns

LabCorp Q2 cash flow operations +46%

Laboratory Corporation of America (LH) Q2 results:

Revenues: $2,768.8M (-3.9%); LabCorp Diagnostics: $1,692.7M (-3.9%); Covance Drug Development: $1,093.7M (-2.9%).

Net Income: $231.6M (+21.6%); EPS: $2.37 (+22.8%); non-GAAP Net Income: $251M (-13.4%); non-GAAP EPS: $2.57 (-12.3%).

CF Ops: $370.7M (+46.2%).

The Company continues to not provide 2020 guidance, citing COVID-19 uncertainties.

https://seekingalpha.com/news/3595835-labcorp-q2-cash-flow-operationsplus-46

resTORbio and TrialSpark collaborate to investigate RTB-101 for COVID-19

TrialSpark, a tech-enabled drug development partner for speed,quality and innovation of clinical trials, partnered with resTORbio (NASDAQ:TORC) +7.14% PM, who has received an NIA grant to investigate RTB-101 against COVID-19 outside the hospital in a community study.

The study will assess RTB-101’s efficacy in preventing symptom development and downstream hospitalizations among positive, asymptomatic patients and their cohabitants diagnosed with COVID-19.

“TrialSpark’s Project Covalence platform (launched on June 16) will allow us to rapidly initiate our study while limiting the potential exposure for patients while they are sheltering in place. Further, TrialSpark’s end-to-end technology stack, which seamlessly integrates eConsent, eSource, EDC, Payments, and ePRO replaces several point solutions that we had utilized previously,” Chief Medical Officer Joan Mannick commented.

https://seekingalpha.com/news/3595871-restorbio-and-trialspark-collaborate-to-investigate-rtbminus-101-for-covidminus-19