|
Subscribe to The Burrill Report | Don't forget to join us on  Facebook or  Twitter
Confidence Shaken
Podcast: July 23, 2012
By nature and necessity, venture capitalists are an optimistic breed. So the newly released National Venture Capital Association’s annual confidence survey, conducted with Deloitte, is noteworthy for the sober outlook expressed by respondents. We spoke to Mark Heeson, president of the National Venture Capital Association, about the survey results, why biotech is one of the sectors generating the lowest confidence levels among venture investors, and the geographic difference between where venture investors feel most confident about investing their money and where they feel best able to raise it.
Read More Here
By The Numbers
|
Biggest movers for the week ending July 20, 2012
|
| TICKER |
COMPANY |
CLOSING PRICE 7/13/2011 |
CLOSING PRICE 7/20/2011
|
PRICE CHANGE |
PERCENT CHANGE |
|
| ADVANCERS |
| ALNY |
Alnylam Pharmaceuticals, Inc. |
12.52 |
18.74 |
6.22 |
49.7% |
| PRX |
Par Pharmaceutical Companies Inc. |
36.58 |
50.14 |
13.56 |
37.1% |
| PSTI |
Pluristem Therapeutics, Inc. |
2.53 |
3.38 |
0.85 |
33.6% |
| ARRY |
Array BioPharma, Inc. |
3.49 |
4.31 |
0.82 |
23.4% |
| GNOM |
Complete Genomics, Inc. |
2.44 |
2.94 |
0.5 |
20.5% |
| DECLINERS |
| ISR |
IsoRay, Inc. |
1.47 |
1.05 |
-0.42 |
-28.6% |
| BPAX |
BioSante Pharmaceuticals, Inc. |
2.05 |
1.62 |
-0.43 |
-21.0% |
| ORNI |
Oragenics Inc. |
3.00 |
2.50 |
-0.5 |
-16.7% |
| CYTX |
Cytori Therapeutics, Inc. |
2.96 |
2.50 |
-0.46 |
-15.5% |
| ARNA |
Arena Pharmaceuticals, Inc. |
11.18 |
9.52 |
-1.665 |
-14.9% |
| Includes life sciences stocks with closing price of $1 or more on July 13, 2012 |
Wall Street Sinks on More Spain Bailout Fears
Bank stocks led Wall Street down on Friday after more fears about a failed Spain bailout resurfaced. The broader markets had been on a rally earlier in the week as robust corporate earnings, especially in the tech sector, impressed investors, but eurozone fears once again took center stage by the end of the week. A Spanish region asked Madrid for financial aid leading traders to sell-off three previous days of gains. Many have expressed fears that the eurozone’s fourth-largest economy would eventually need to be bailed out despite the approval of the terms of a bailout of Spain’s banks. Alnylam was this week’s largest mover as its shares jumped 49.7 percent after it said that its experimental drug, an RNAi therapeutic that targets to transthyretin gene to treat TTR-mediated amyloidosis, a rare and deadly genetic disorder, reduced levels of the protein that causes the disease by as much 94 percent in an early-stage clinical trial. IsoRay saw its shares fall the most this week after it announced that it was planning a stock placement that is expected to raise about $3.5 million. The announcement led to a sell-off, causing the company’s shares to fall 28.6 percent.
Tools Companies Expand in Diagnostics
Thermo Fisher buys One Lambda and Life Technologies acquires Navigenics.
Tools companies Thermo Fisher Scientific and Life Technologies are expanding their presence in the diagnostics arena through major acquisitions. They are following a trend that has been gaining ground in 2012 exemplified by Agilent’s acquisition of Dako in May for $2.2 billion.
Read More Here
| BURRILL INDICES |
12/30/2011 |
7/13/2012 |
7/20/2012 |
Weekly Change |
Year Change |
| Burrill Select |
432.49 |
546.60 |
550.13 |
0.6% |
27.2% |
| Burrill Large Cap |
529.22 |
660.89 |
663.98 |
0.5% |
25.5% |
| Burrill Mid-Cap |
295.33 |
357.13 |
358.62 |
0.4% |
21.4% |
| Burrill Small Cap |
88.26 |
104.05 |
102.14 |
-1.8% |
15.7% |
| Burrill Diagnostics |
175.42 |
197.82 |
189.52 |
-4.2% |
8.0% |
| Burrill Personalized Medicine |
100.62 |
113.83 |
112.11 |
-1.5% |
11.4% |
| Burrill Biogreentech |
149.36 |
152.97 |
157.69 |
3.1% |
5.6% |
| Canadian Biotech |
59.17 |
53.96 |
56.29 |
4.3% |
-4.9% |
| NASDAQ |
2605.15 |
2908.47 |
2925.30 |
0.6% |
12.3% |
| DJIA |
12217.56 |
12777.09 |
12822.57 |
0.4% |
5.0% |
| S&P 500 |
1257.60 |
1356.78 |
1362.66 |
0.4% |
8.4% |
| Amex Biotech |
1091.42 |
1485.00 |
1523.72 |
2.6% |
39.6% |
| Amex Pharmaceutical |
332.94 |
349.92 |
358.36 |
2.4% |
7.6% |
| Includes life sciences stocks with closing price of $1 or more on December 30, 2011 |
Vivus’ Obesity Drug Gains FDA Approval
But specific restrictions placed on its use.
Vivus’ weight-loss drug, Qysmia has been approved by the U.S. Food and Drug Administration, making it the second such drug to be approved by the regulatory body in less than a month. At the end of the June, the FDA approved Arena’s obesity drug, Belviq.Read More Here
Human Genome Sciences and GlaxoSmithKline End Hostilities
GSK finalizes takeover of longtime partner HGS.
GlaxoSmithKline will acquire Human Genome Sciences for $3.6 billion, finally bringing to an end a three-month hostile takeover battle between the two companies. GSK succeeded in large part due to its raised all-cash offer to $14.25 per share from the $13.00 per share offer it had made in April 2012. Read More Here
Senator Turns Heat Up on FDA in Spying Scandal
Grassley says FDA Counsel's office authorized monitoring of employees critical of the agency.
Senator Chuck Grassley, R-Iowa, is turning up the pressure on the U.S. Food and Drug Administration following the emergence of a growing scandal about the agency spying on its scientists brought to light in a report in The New York Times. A new revelation made by Grassley in a July 16 letter to FDA Commissioner Margaret Hamburg was his contention that the spying was authorized in writing by the FDA’s counsel’s office. Read More Here
First Gene Therapy Gets EU Backing
Regulators recommend approval of uniQure's gene therapy Glybera.
Dutch biotech UniQure said that the European Medicines Agency's Committee for Medicinal Products for Human Use has recommended approving marketing authorization of its gene therapy product Glybera as a treatment for a rare, inherited disease where patients are unable to handle fat particles in their blood plasma, which leads to recurring severe abdominal pain and pancreatitis. Read More Here
Durata Therapeutics Becomes Second Completed IPO in Month
Markets still unwelcoming, but show glimmer of hope.
Durata Therapeutics became the second early-stage therapeutics company to go public in the past month when it priced its initial public offering of 7.5 million shares of common stock at $9 per share on July 19. The offering came in below Durata’s target price range of $11-$13 per share. Read More Here
FDA approves Onyx Multiple Myeloma Drug
Green light based on mid-stage results.
Patients with multiple myeloma and no options have new hope with the approval of Onyx Pharmaceuticals’ Kyprolis. The U.S. Food and Drug Administration has approved Kyprolis, also known as carfilzomib, to treat patients with the cancer who have received at least two prior therapies, including treatment with Velcade (bortezomib) and an immunomodulatory therapy. Read More Here
MedImmune to Cut 200 Jobs in California
The weekly round-up of failed trials, missed targets and other business mishaps.
MedImmune, the biologics unit of AstraZeneca, will cut 200 jobs and close its Mountain View and Santa Clara locations, but will add jobs to its Hayward location. The reorganization will affect MedImmune’s infectious disease and vaccines research and development operations. In total, 300 jobs will be affected, but 100 of those jobs will be shifted to existing facilities.Read More Here
|
Print
.gif)
