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Target price $43.

Upgrading its view to ‘Hold’ from ‘Sell’, CFRA Research weighs in on Nektar Therapeutics (NASDAQ:NKTR), the clinical-stage biotech, which released promising preclinical data last week for the NKTR-255 at the 62nd American Society of Hematology Annual Meeting.
The interleukin-15 (IL-15) receptor agonist is currently undergoing multiple clinical studies in both hematological and solid tumors, including a Phase 1/2 trial against relapsed or refractory head and neck squamous cell carcinoma or colorectal cancer, the initiation of which was announced yesterday, propelling the shares +4.5%.
The analyst, Sel Hardy, writes, ‘the first clinical data for NKTR-255 presented last week has been encouraging’ noting ‘it will take time to get conclusive results from the study.’
However, the 12-month price target is set at $18, adding ‘we do not see any major financial implications materializing soon.’
https://seekingalpha.com/news/3644987-nektar-therapeutics-raised-to-hold-from-sell-cfra-on-encouraging-clinical-data

BioAtla (BCAB), a biopharma developing antibody-based therapeutics for cancer, has priced its IPO of 10.5M shares of common stock at $18.00/share, for expected gross proceeds of ~$189M.
The company initially planned to offer 9.4M shares at a range of $15-$17.
Underwriters' over-allotment is an additional 1.575M shares.
Trading kicks off December 16. Closing date is December 18.
https://seekingalpha.com/news/3644744-bioatla-prices-ipo-above-range-18

vTv Therapeutics (NASDAQ:VTVT) slumps 38% after-hours after announcing that its Phase 2 Elevage study of azeliragon in people with mild Alzheimer’s disease and type 2 diabetes did not meet its primary objective of demonstrating an improvement in cognition relative to placebo.
The trail included 43 people. The azeliragon treated group (n=21) had a 1.8 point decline from baseline in ADAS-cog14 compared to a placebo (n=22) decline of 0.35.
These differences were not statistically significant.
Azeliragon was generally well-tolerated.
https://seekingalpha.com/news/3644747-vtv-therapeutics-azeliragon-flunks-in-mid-stage-alzheimer-s-and-diabetes-study

The European Commission has granted conditional marketing authorization Kite's Tecartus (autologous, anti-CD19-transduced CD3+ cells; formerly KTE-X19). Kite is a Gilead (NASDAQ:GILD) company.
Tecartus is a chimeric antigen receptor (CAR) T cell therapy for adult patients with relapsed or refractory mantle cell lymphoma after two or more lines of systemic therapy.
Conditional marketing authorization in Europe is initially valid for one year but can be extended or converted into an unconditional authorization after the submission and assessment of additional confirmatory data.
https://seekingalpha.com/news/3644760-gileads-tecartus-receives-conditional-authorization-in-europe-for-blood-cancer

The FDA's Cardiovascular and Renal Drugs Advisory Committee (CRDAC) has voted 12 to 1 supporting the use of Novartis' (NYSE:NVS) Entresto (sacubitril/valsartan) in treatment of patients with heart failure with preserved ejection fraction (HFpEF).
This was based on data supporting the benefit of Entresto in reducing worsening heart failure in patients studied in PARAGON-HF.
If approved, Entresto could become the first therapy as well as mediation approved for heart failure.
The FDA decision on the sNDA is expected in Q1 2021.
https://seekingalpha.com/news/3644765-fda-advisory-committee-backs-use-of-novartis-entresto-in-heart-failue

For FY2020, Quest Diagnostics (NYSE:DGX) now expects diluted EPS to be at least $9.98 vs. previous outlook of $8.22-$9.22; Adjusted diluted EPS to be at least $10.75 vs. prior outlook of $9-$10 and consensus of $9.90.
The company expects cash from operations to be at least $1.95B above previous outlook of at least $1.75B and Capex to be ~$420M above prior outlook of ~$400M for the fiscal year.
Press release
https://seekingalpha.com/news/3644781-quest-diagnostics-raises-fy2020-outlook

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