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Editor's Note:
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What Wall Street's Watching at ASCO
Podcast: May 28, 2013
What Wall Street's Watching at ASCO The American Society of Clinical Oncology’s ASCO 2013 Annual Meeting kicks off in Chicago May 31. Though the meeting attracts cancer researchers and physicians from around the world, it is closely watched by Wall Street for news of clinical trial results that could send stocks soaring or sinking. We spoke to Adam Feuerstein, senior columnist for TheStreet.com, about a new class of cancer therapies likely to get big attention at this year’s meeting, what other news will be coming out of the conference, and whether concerns about payers willingness to continue meeting the high price commanded by new cancer therapies becomes a topic of discussion in Chicago. Read More Here
WHITE PAPER: Reducing Readmissions In Europe: Using remote monitoring to contain costs
Learn about the essential role remote monitoring will be play in controlling health care costs for Europe's aging population.
Download the white paper for free today.
By The Numbers
|
Biggest movers for the week ending May 24, 2013
|
| TICKER |
COMPANY |
CLOSING PRICE 5/17/2013 |
CLOSING PRICE 5/24/2013
|
PRICE CHANGE |
PERCENT CHANGE |
|
| ADVANCERS |
| PRTX |
Protalex |
1.05 |
1.66 |
0.61 |
58.1% |
| ZIOP |
Ziopharm Oncology |
1.67 |
2.621 |
0.95 |
56.9% |
| NSPH |
Nanosphere |
3.10 |
4.26 |
1.16 |
37.4% |
| VNDA |
Vanda Pharmaceuticals |
6.58 |
8.38 |
1.80 |
27.4% |
| MNKD |
MannKind |
5.19 |
6.55 |
1.36 |
26.2% |
| DECLINERS |
| APPY |
Venaxis |
1.69 |
1.30 |
-0.39 |
-23.1% |
| APRI |
Apricus Biosciences |
3.24 |
2.58 |
-0.66 |
-20.4% |
| XNPT |
Xenoport |
6.75 |
5.78 |
-0.97 |
-14.4% |
| MBLX |
Metabolix |
2.01 |
1.73 |
-0.28 |
-13.9% |
| AMAG |
Amag Pharmaceuticals |
25.37 |
22.25 |
-3.12 |
-12.3% |
| Includes life sciences stocks with closing price of $1 or more on May 17, 2013, |
Positive Safety Review Boosts Protalex
Stocks tumbled around the world last week, particularly in Japan, where the Nikkei Average declined more than 7 percent in one day, one of the worst drops in decades. In the United States, Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that the central bank could reduce its purchases of long-term Treasuries and mortgage-backed securities in coming months. These purchases have buoyed the economy and investors are uncertain how and when the reduction will be implemented. For the week, The Dow Jones Industrial Average was flat while the S&P 500 and the Nasdaq Composite were down 1.1 percent.
Protalex shares advanced 58.1 percent following a positive interim safety review for PRTX-100, a highly purified form of Staphylococcal Protein A that at very low concentrations binds to and regulates activation of human B-lymphocytes and macrophages, cells that mediate inflammation in autoimmune diseases. The company announced it will continue enrollment in its multicenter, multiple-dose, dose-escalation study of PRTX-100 in combination with methotrexate or leflunomide in adults with active rheumatoid arthritis.
Venaxis shares declined 23.1 percent after announcing a public offering of 10,000,000 shares of its common stock and warrants to purchase 3,500,000 shares. Venaxis intends to use the proceeds from the stock sale for corporate purposes related to funding further clinical development of its protein biomarker-based appendicitis test APPY1, the pursuit of U.S. Food and Drug Administration clearance, and initial commercialization costs of the test in the United States and European Union.
Elan Strikes More Deals, Rejects Sweetened Royalty Pharma Bid
Pharma moves to acquire two companies, spin out a program, and issue debt.
Fresh off its $1 billion share buyback and a $1 billion deal to share in the royalties of new drugs from Theravance, Elan announced it would spend about $700 million to buy an Austrian developer of drugs for orphan diseases, take a stake in a Middle East-based pharmaceutical company, spin out a drug asset into a separate company, and issue bonds to strengthen its capital structure. Read More Here
| BURRILL INDICES |
12/31/2012 |
5/17/2013 |
5/24/2013 |
Week Change |
Year Change |
| Burrill Select |
607.66 |
818.12 |
817.40 |
-0.1% |
34.5% |
| Burrill Large Cap |
736.90 |
997.98 |
998.89 |
0.1% |
35.6% |
| Burrill Mid-Cap |
309.52 |
382.43 |
392.72 |
2.7% |
26.9% |
| Burrill Small Cap |
105.48 |
125.39 |
122.13 |
-2.6% |
15.8% |
| Burrill Diagnostics |
191.32 |
211.73 |
211.30 |
-0.2% |
10.4% |
| Burrill Personalized Medicine |
119.22 |
148.82 |
151.30 |
1.7% |
26.9% |
| Burrill Biogreentech |
162.27 |
187.53 |
183.60 |
-2.1% |
13.1% |
| NASDAQ |
3019.51 |
3498.97 |
3459.14 |
-1.1% |
14.6% |
| DJIA |
13104.14 |
15354.4 |
15303.1 |
-0.3% |
16.8% |
| S&P 500 |
1426.18798 |
1667.47 |
1649.6 |
-1.1% |
15.7% |
| Amex Biotech |
1547.03 |
2006.602 |
1982.63 |
-1.2% |
28.2% |
| Amex Pharmaceutical |
369.57 |
431.012 |
434.04 |
0.7% |
17.4% |
Stem Cell Policy Group Folds Tent
Coalition for the Advancement of Medical Research transfers mission and assets to Alliance for Regenerative Medicine
The Coalition for the Advancement of Medical Research, saying that the environment for human embryonic stem cell research has changed so much that it is no longer needed, is turning over its mission and assets to the Alliance for Regenerative Medicine. Read More Here
GSK and BARDA Collaborate to Develop New Antibiotics
The $200M deal seeks to create a pipeline of new drugs.
The U.S. Department of Health and Human Service’s Biomedical Advanced Research and Development Authority, or BARDA, is teaming up with GlaxoSmithKline of North Carolina in a deal worth up to $200 million to develop drugs to combat bioterrorism and antibiotic resistance. Read More Here
Actavis Buys Warner Chilcott
Combination will create a tax-advantaged global specialty pharma.
Actavis, the world’s third-largest generic pharmaceutical company, says it will acquire the specialty pharmaceutical company Warner Chilcott for about $5 billion in Actavis stock and the assumption about $3.5 billion in long-term debt. Read More Here
Gates Foundation Helps Repurpose Exubera Technology
Monash Institute of Pharmaceutical Sciences receives more than $1 million for drug delivery development.
The Bill & Melinda Gates Foundation is providing more than $1 million in funding to repurpose technology behind Pfizer’s unsuccessful inhaled insulin product Exubera in the hopes of developing inhaled oxytocin as a therapy to curb the leading cause of maternal mortality: excessive post-partum bleeding. The problem is especially acute in Africa, where the World Health Organization estimates 10.5 percent of women experience post-delivery hemorrhage.Read More Here
Industry Advocates Ally to Lobby for Tax Reforms
New group draws together BIO, AdvaMed, and others seeking tax code changes.
The Biotechnology Industry Organization and 14 groups representing research-intensive industries have formed a new association to fight for tax reforms favorable to their investors. Read More Here
A Hammer in Search of a Nail
DEA grows impatient with the pace at which the FDA addresses opioid abuse.
When some pharmacists refused to dispense Plan B, the so-called “morning after pill,” because of their personal moral beliefs, reproductive rights advocates and the media swooped down with all guns ablaze. “Denying access!” they cried. “Abusing their state licenses!” shouted others. Read More Here
Pfizer Drug Fails Three Late-stage Trials
The weekly round-up of failed trials, missed targets, and other business mishaps.
Pfizer discontinued a late-stage trial of inotuzumab ozogamicin in patients with relapsed or refractory CD22-positive aggressive non-Hodgkin lymphoma who are not candidates for high-dose chemotherapy. Read More Here
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