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Fly News Breaks for January 22, 2019
MRNA, TBIO
Jan 22, 2019 | 12:43 EDT
Moderna's (MRNA) messenger RNA competitor Translate Bio (TBIO) announced this morning that the FDA placed a clinical hold on its Investigational New Drug Application for MRT5201 to treat ornithine transcarbamylase deficiency, Piper Jaffray analyst Edward Tenthoff tells investors in a research note. Translate Bio also had a prior clinical IND hold on MRT5005 for cystic fibrosis due to manufacturing issues, adds the analyst. Tenthoff does not see read-through to Moderna's mRNA platform and pipeline from the news. The FDA accepted the company's IND for mRNA-3704 to treat orphan disease methylmalonic acidemia, and the Phase I/II study will begin soon, says the analyst. He reiterates an Overweight rating on Moderna with a $24 price target. The stock in midday trading is down 3% to $16.15.
News For MRNA;TBIO From the Last 2 Days
MRNA
Mar 27, 2024 | 06:37 EDT
Blackstone (BX) announced a new collaboration with Moderna (MRNA) through a development and commercialization funding agreement where funds managed by Blackstone Life Sciences will provide up to $750M to fund Moderna's influenza program. This new collaboration continues Blackstone Life Sciences' work and support for many of the world's leading and most innovative biopharmaceutical and medical technology companies. Blackstone seeks to provide customized financing solutions for companies across therapeutic areas to support mission critical scientific innovation and advance important products to patients.