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The Burrill Weekly Brief | April 07, 2014

BY THE NUMBERS

 

MannKind gets FDA advisory panel nod, shares up 42.2 percent 

 

Though stocks opened higher on good March jobs data, investors continued to sell off momentum stocks, mostly high-growth companies in the biotech and tech sectors. The Burrill Biotech Select Index continued its month long slide, dropping another 2.3 percent for the week. For the week, the Nasdaq Composite Index fell 0.7 percent, while the S&P 500 (up 0.4 percent) and the Dow Jones Industrial Average (up 0.6 percent) ended the week fairly flat.

 

MannKind was the week's biggest mover with shares up 42.2 percent for the week. A U.S. Food and Drug Administration voted overwhelmingly to recommend approval of the biotech's inhaled insulin for the treatment of patients, both with type 1 and type 2 diabetes. This was MannKind's third attempt to win regulatory approval. Though the FDA does not have to follow advisory committee recommendations, it often does. The FDA has set April 15 as the date when it will make its decision.  

 

Halozyme Therapeutics was the week's biggest loser. Shares ended the week down 30.4 percent after the company reported it was temporarily stopping enrollment of patients and dosing of its prostate cancer drug in a mid-stage trial, after an independent safety committee recommendation.

 

 
BIGGEST MARKET MOVERS FOR THE WEEK ENDING MARCH 28, 2014

 

  TICKER

 

  COMPANY

  CLOSING
  PRICE
  3/28/2014
  CLOSING 
  PRICE 
 4/4/2014
  
  PRICE   
CHANGE
  
 PERCENT CHANGE
  ADVANCERS
MNKD
MannKind
4.83
6.87
2.04
42.2%
ISR
IsoRay
2.31
3.03
0.72
31.2%
SKYE.Y
SkyePharma
3.24
4.07
0.83
25.6%
MYGN
Myriad Genetics
32.87
40.99
8.12
24.7%
JASDAQ:4579
RaQualia Pharma
4.62
5.58
0.96
20.9%
  DECLINERS
HALO
Halozyme Therapeutics
12.11
8.43
-3.68
-30.4%
DRNA
Dicerna Pharmaceuticals
29.05
21.41
-7.64
-26.3%
CRMD
CorMedix
2.66
2.05
-0.61
-26.4%
FATE
Fate Therapeutics
11.26
8.70
-2.56
-22.7%
GALT
Galectin Therapeutics
15.72
12.21
-3.51
-22.3%
Includes life sciences stocks with closing price of $1 or more on March 28, 2014
 

Intarcia Lands $200M for Disruptive Drug Delivery 

       

Financing will fund push to get its once-yearly diabetes medication on the market.    

Intarcia Therapeutics has raised another $200 million in private financing, which together with the $210 million round of equity and debt financing in November of 2012, puts the company in a strong position to complete a late-stage clinical trial and prepare to launch its once yearly diabetes treatment, and to build its pipeline.

Read More Here


  BURRILL INDICES
12/31/13
3/28/2014
4/4/2014
Week Change
Year Change
Burrill Select
952.86
996.58 973.24 -2.3% 2.1%
Burrill Large-Cap 1165.34 1212.67 1186.13 -2.2%
1.8%
Burrill Mid-Cap 537.96 519.20 511.04
-1.6%
-5.0%
Burrill Small-Cap 143.25 238.28 222.10 -6.8%
55.0%
Burrill Diagnostics 215.62 229.60 233.03 1.5%
8.1%
Burrill Personalized Medicine 150.29 168.10 168.14 0.0%
11.9%
Burrill Biogreentech 186.93 182.56 183.48 0.5%
-1.8%
NASDAQ 4176.59 4155.76 4127.73 -0.7%
-1.2%
DJIA 16576.66 16323.06 16412.71 0.5%
-1.0%
S&P 500 1848.36 1857.62 1865.09 0.4%
0.9%
Amex Biotech 2330.43 2506.56 2499.57 -0.3% 7.3%
Amex Pharmaceutical 468.07 495.32 495.22
0.0% 5.8%
NASDAQ Biotechnology Index 2369.53 2396.36 2356.60 -1.7%
-0.5%
The annual rebalance of the Burrill Indices took place on October 1, 2013.


Forma Therapeutics and Celgene Form $600M Alliance      
Biotech gets a big cash payment and an exit opportunity for its backers. 

Forma Therapeutics has entered into a second strategic collaboration with Celgene focused on unmet needs in genetically driven therapeutic areas. The deal comes with $225 million in upfront cash and an option to be acquired by Celgene at a specified point during the partnership.

Read More Here  

AbbVie Drops Attempt to Block EU Clinical Trial Transparency Effort       
Pharma says European regualtors accepted its rationale to protect certain information. 

AbbVie has dropped its challenge to the European Union court to block the European Medicines Agency from releasing clinical trial data from the company, reports Bloomberg. AbbVie's decision comes amid European regulators efforts to push for more clinical trial transparency.

Read More Here  

Stem Cells Improve Heart Function     

Danish study shows stem cells are effective for failing hearts.   

Patients with severe ischemic heart disease and heart failure benefited from a new treatment in which stem cells found in bone marrow are injected directly into the heart muscle, according to Danish researchers.    

Read More Here  

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