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Don’t miss your chance to get both the print and digital editions of Biotech 2013: Capturing Value for the price of one using the discount code BESTOFBOTH. Offer expires August 1. Order today!
A Measles Outbreak, Vaccination, and the Persistence of Fear
Podcast: July 29, 2013
An outbreak of measles in Wales is calling attention to the lasting impact of a now discredited paper that suggested a link between the MMR vaccine and autism. We spoke to Paul Offit, chief of infectious diseases at The Children’s Hospital of Philadelphia, about the outbreak, the power of fear over reason, and what happens when science and beliefs clash. Read More Here
By The Numbers
|
Biggest movers for the week ending July 26, 2013
|
| TICKER |
COMPANY |
CLOSING PRICE 7/19/2013 |
CLOSING PRICE 7/26/2013
|
PRICE CHANGE |
PERCENT CHANGE |
|
| ADVANCERS |
| BCRX |
BioCryst Pharmaceuticals |
2.46 |
4.62 |
2.16 |
87.8% |
| MEDS |
Medistem |
1.50 |
2.50 |
1.00 |
66.7% |
| GENT |
Gentium |
8.84 |
14.61 |
5.77 |
65.3% |
| PRTX |
Protalex |
2.30 |
3.30 |
1.00 |
43.5% |
| TSE:4584 |
Gene Techno Science |
38.11 |
50.00 |
11.89 |
31.2% |
| DECLINERS |
| OXBT |
Oxygen Biotherapeutics |
2.60 |
1.53 |
-1.07 |
-41.2% |
| SQNM |
Sequenom |
4.59 |
3.22 |
-1.37 |
-29.8% |
| OMED |
OncoMed |
26.70 |
19.31 |
-7.39 |
-27.7% |
| TSX:AEZ |
Æterna Zentaris |
1.91 |
1.39 |
-0.52 |
-27.3% |
| TNGN |
Tengion |
1.22 |
0.98 |
-0.24 |
-19.8% |
| Includes life sciences stocks with closing price of $1 or more on July 19, 2013, |
BioCryst Pharmaceuticals Early-stage Trial Impresses Investors
Mixed corporate earnings and economic data made for a volatile market that ultimately ended the week flat. Five biotechs completed IPOs, ended the week up an average 11.4 percent. Agios Pharmaceuticals, with an upsized offering priced above its target range, soared 74 percent in its first day of trading, ending the week up 58.5 percent. The Dow Jones Industrial Average was up 0.1 percent, the S&P 500 was flat, and the Nasdaq Composite was up 0.7 percent. The Burrill Select index was down less than half a percent.
BioCryst Pharmaceuticals stock rose 87.8 percent after the company released positive safety, tolerability, and on-target kallikrein inhibition in an early-stage trial of its oral drug for the treatment of hereditary angioedema, swelling that is similar to hives but occurs under the skin. The drug suppresses production of bradykinin, the mediator of acute swelling attacks in hereditary angioedema, by inhibiting an activating protease.
Oxygen Biotherapeutics was a big decliner, down 41.2 percent after announcing the pricing of a public Series C stock offering with an aggregate value of approximately $5.4 million, convertible into common stock at $1.95 per share. In the weeks before the announcement, shares were trading at between $2.60 and $3.40 per share. Total stock purchases are expected to provide the company with up to $2.1 million in gross proceeds for operating funds through July 31.
Adimab Licenses Technology to GSK and Biogen Idec
After a string of pharma partnerships, the deals are the biotech’s first licensing agreements.
Adimab built it business by generating fully human monoclonal and bispecific antibodies for about a dozen pharmaceutical partners. But in a significant strategic shift the New Hampshire biotech is embarking on its first two deals to license its antibody discovery platform to GlaxoSmithKline and Biogen Idec. Read More Here
| BURRILL INDICES |
12/31/2012 |
7/19/2013 |
7/26/2013 |
Week Change |
Year Change |
| Burrill Select |
589.98 |
868.26 |
864.10 |
-0.48% |
46.5% |
| Burrill Large Cap |
711.61 |
1062.01 |
1058.87 |
-0.30% |
48.8% |
| Burrill Mid-Cap |
309.52 |
433.10 |
436.36 |
0.75% |
41.0% |
| Burrill Small Cap |
105.48 |
151.76 |
152.66 |
0.59% |
44.7% |
| Burrill Diagnostics |
191.32 |
216.97 |
216.79 |
-0.08% |
13.3% |
| Burrill Personalized Medicine |
118.52 |
148.46 |
149.89 |
0.96% |
26.5% |
| Burrill Biogreentech |
163.09 |
186.15 |
179.49 |
-3.58% |
10.1% |
| NASDAQ |
3019.51 |
3587.61 |
3613.16 |
0.71% |
19.7% |
| DJIA |
13104.14 |
15543.74 |
15558.83 |
0.10% |
18.7% |
| S&P 500 |
1426.19 |
1692.09 |
1691.65 |
-0.03% |
18.6% |
| Amex Biotech |
1547.03 |
2167.62 |
2144.05 |
-1.09% |
38.6% |
| Amex Pharmaceutical |
369.57 |
431.152 |
435.33 |
0.97% |
17.8% |
| NASDAQ Biotechnology Index |
1430.81 |
2036.63 |
2051.67 |
0.74% |
43.4% |
Five Biotech IPOs Debut in Busy Week
Total of 20 initial public offerings in the sector completed in past three months.
Five biotech companies completed initial public offerings during the week of July 22, raising the total number of IPOs in the sector during the past three months to 20, and the year-to-date total to 29. Read More Here
Venture Capital Dollars Move Back to Biotech
Funding for privately held healthcare biotechs up 38.7 percent in first half of 2013.
Privately held biotech companies raised more than $2.7 billion during the first half of 2013, a 38.7 percent jump in funding as the stock market and new drug approvals propelled enthusiasm for investment in the sector. Read More Here
Industry Groups Outline Principles for Transparency
Advocates of clinical trials data sharing blast proposal as “window dressing.”
The leading pharmaceutical industry trade groups in the United States and Europe have issued a set of principles for clinical trial data sharing in an effort to craft an alternative to European regulator’s efforts to make the information more freely available. Read More Here
South Korea Promises $9B for New Drugs
Government pushes drugmakers to ramp up R&D with cash and other incentives.
South Korea’s government says it will spend nearly $9 billion (10 trillion won) to help domestic drugmakers develop 20 new medicines during the next five years. The pledge would more than double the nation’s estimated $860 million annual investment in domestic pharmaceutical R&D. Read More Here
GSK Says China Scandal Will Impact Earnings
With 18 employees arrested, company says it is cooperating with investigation.
GlaxoSmithKline replaced its general manager for China and warned investors to expect an unspecified impact on earnings as Chinese officials continue to investigate allegations that employees of the drug giant engaged in bribery and tax-related crimes there. Read More Here
Researchers Identify New Drug Target for Parkinson’s Disease
Cell survival protein implicated in blood cell cancer also plays a role in neurons.
Researchers at The Scripps Research Institute have identified a possible cause of Parkinson’s disease, a finding that could lead to therapies to treat or prevent the disease.Read More Here
GSK Reaches $229 Million Settlment with Eight States
The weekly round-up of failed trials, missed targets, and other business mishaps.
GlaxoSmithKline said it has reached settlements in principle with the Attorneys General of eight states to pay $229 million to resolve lawsuits relating to the development and marketing of its diabetes drug Avandia, as well as a separate action brought by the state of Louisiana relating to other products. Read More Here
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