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ARWR

Arrowhead

$4.39

-0.07 (-1.57%)

, AMGN

Amgen

$146.00

0.93 (0.64%)

16:12
11/29/16
11/29
16:12
11/29/16
16:12

Arrowhead to halt development of all EX1 programs, cut 30% of workforce

Arrowhead Pharmaceuticals (ARWR) announced a "strategic redeployment" of resources to support the development of RNAi therapeutics that utilize the company's new proprietary subcutaneous and extra-hepatic delivery systems. Arrowhead will discontinue development of clinical stage drug candidates ARC-520, ARC-521, and ARC-AAT, which utilize the DPCiv, or EX1, delivery vehicle. "Arrowhead remains committed to finding therapeutic options for patients with chronic hepatitis B infection and alpha-1 antitrypsin deficiency. The company intends to advance to the clinic two previously unannounced HBV and AATD programs using our subQ platform. Arrowhead has learned a great deal during prior HBV and AAT studies that will help drive the subQ programs efficiently. Existing preclinical subQ and extra-hepatic programs such as ARC-LPA and ARC-AMG1, which are partnered with Amgen (AMGN), ARC-F12, ARC-HIF2, and other unannounced programs are not affected by this decision," it said. The company is reducing its workforce by approximately 30%, while "maintaining full resourcing necessary to support current and potential future partner-based programs and Arrowhead's burgeoning pipeline." This structure should enable the company to continue to "develop its programs rapidly," and is intended to extend its cash runway into 2019. The company further noted: "The decision to discontinue development of EX1-containing programs was based primarily on two factors. First, during ongoing discussions with regulatory agencies and outside experts, it became apparent that there would be substantial delays in all clinical programs that utilize EX1, while the company further explored the cause of deaths in a non-clinical toxicology study in non-human primates. Second, Arrowhead has made substantial advances in RNA chemistry and targeting resulting in large potency gains for subQ administered and extra-hepatic RNAi-based development programs. In preclinical studies with the subQ platform, the company has obtained depth and duration of target gene knockdown approaching that of intravenously administered EX1-containing candidates, at lower doses and with good safety margins... In addition, across the ARC-520, ARC-521, and ARC-AAT clinical programs, laboratory values have not been deemed indicative of drug induced organ toxicity."

ARWR

Arrowhead

$4.39

-0.07 (-1.57%)

AMGN

Amgen

$146.00

0.93 (0.64%)

  • 29

    Nov

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    Nov

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    Jul

ARWR Arrowhead
$4.39

-0.07 (-1.57%)

08/18/16
08/18/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Barnes & Noble (BKS) initiated with a Neutral at Sidoti. 2. Digital Ally (DGLY) initiated with a Buy at Maxim. 3. Korn/Ferry (KFY) initiated with a Hold at Deutsche Bank. 4. Phillips 66 Partners (PSXP) initiated with a Buy at Stifel. 5. Arrowhead (ARWR) initiated with a Buy at Cantor. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/19/16
WBLR
08/19/16
INITIATION
Target $9
WBLR
Outperform
Arrowhead initiated with an Outperform at William Blair
William Blair analyst Y. Katherine Xu started Arrowhead Pharmaceuticals with an Outperform rating and $9 price target.
09/29/16
PIPR
09/29/16
NO CHANGE
Target $10
PIPR
Overweight
Arrowhead price target raised to $10 from $8 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff raised his price target for Arrowhead Pharmaceuticals (ARWR) to $10 after the company licensed two preclinical cardiovascular RNAi drugs with Amgen (AMGN). Amgen is the "ideal partner" and Arrowhead's balance sheet is now "meaningfully" strengthened, Tenthoff tells investors in a research note. He reiterates an Overweight rating on Arrowhead.
10/06/16
RBCM
10/06/16
NO CHANGE
RBCM
Alnylam news not a negative read through on other RNAi drugs, says RBC Capital
After Alnylam (ALNY) announced that it was discontinuing one of its Phase III RNAi drugs due to poor clinical outcomes, RBC Capital analyst Michael Yee does not thinks that the news indicates problems with all RNAi drugs. Rather, he thinks that RNAi was not the proper treatment for the disease that Alnylam was targeting. Other companies with RNAi treatments include The Medicines Company (MDCO0, Ionis Pharmaceuticals (IONS), Arrowhead (ARWR), and Arbutus Biopharma (ABUS).
AMGN Amgen
$146.00

0.93 (0.64%)

11/07/16
MZHO
11/07/16
INITIATION
Target $164
MZHO
Buy
Amgen initiated with a Buy at Mizuho
Mizuho analyst Salim Syed initiated Amgen with a Buy rating and a $164 price target.
11/08/16
ARGS
11/08/16
NO CHANGE
ARGS
Amgen weakness creates buying opportunity, says Argus
After Amgen's stock sunk 10% following its Q3 results, Argus says that the decline was triggered by "news that pricing power for Enbrel would be limited in 2017." However, the firm says that the company's growth outlook is "solid," while it has launched "promising new drugs." The firm keeps a Buy rating on the stock.
11/08/16
11/08/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Adient (ADNT) initiated with a Neutral at JPMorgan. 2. JinkoSolar (JKS) initiated with a Buy at Craig-Hallum. 3. Amgen (AMGN), Gilead (GILD), and Celgene (CELG) initiated with a Buy at Mizuho while the firm initiated Biogen (BIIB) with a Neutral. 4. BioScrip (BIOS) resumed with a Buy at Jefferies. 5. SQM (SQM) initiated with a Market Perform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/09/16
PIPR
11/09/16
NO CHANGE
PIPR
Piper sees improving environment for Biopharma M&A
The biotech sector is seeing a "massive relief rally" given the "surprise trifecta" of a Republican sweep, the voting down of Prop 61 in California and U.S. dollar weakness, Piper Jaffray analyst Joshua Schimmer tells investors in a research note. The door is now open to discuss potential repatriation of cash outside the U.S., which could be a green light on mergers and acquisitions, the analyst adds. He points out that Amgen (AMGN) and Gilead (GILD) hold the most overseas cash, with Celgene (CELG) and Biogen (BIIB) holding several billion as well. Schimmer believes the broader environment may be improving for M&A. He cautions, though, that the election of Trump does not remove the "major drug pricing overhang question."

TODAY'S FREE FLY STORIES

AVA

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BMY

Bristol-Myers

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INSE

Inspired Entertainment

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0.3 (2.26%)

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MNOV

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0.3 (5.10%)

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ISRG

Intuitive Surgical

$1,031.52

1.31 (0.13%)

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GD

General Dynamics

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CHRS

Coherus Biosciences

$12.85

0.3 (2.39%)

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FIBK

First Interstate

$36.90

0.3 (0.82%)

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NRCIA

National Research, also tag NRCIB

$37.45

0.55 (1.49%)

, NRCIB

National Research, also tag NRCIA

$54.30

0.31 (0.57%)

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CC

Chemours

$51.79

-0.16 (-0.31%)

, HON

Honeywell

$141.75

0.89 (0.63%)

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HON

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0.89 (0.63%)

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AGN

Allergan

$204.65

1.99 (0.98%)

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HON

Honeywell

$141.75

0.89 (0.63%)

, CC

Chemours

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CC

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JOE

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TYHT

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$3.23

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ARCI

Appliance Recycling

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RNVA

Rennova Health

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ARCI

Appliance Recycling

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Options
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EKSO

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UNH

UnitedHealth

$193.03

-2.18 (-1.12%)

, AET

Aetna

$153.57

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ANTM

Anthem

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CI

Cigna

$182.74

0.61 (0.33%)

AAPL

Apple

$151.89

-1.5 (-0.98%)

FSLR

First Solar

$51.41

2.65 (5.43%)

FINL

Finish Line

$9.73

0.51 (5.53%)

ASND

Ascendis Pharma

$34.24

6.5 (23.43%)

VSAR

Versartis

$2.68

-18.925 (-87.62%)

ICPT

Intercept

$61.59

-12.11 (-16.43%)

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DLR

Digital Realty

$114.51

-1.72 (-1.48%)

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