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OMED

OncoMed

$3.98

0.08 (2.05%)

, CELG

Celgene

$106.68

-2.46 (-2.25%)

16:06
01/04/18
01/04
16:06
01/04/18
16:06

OncoMed sees FY18 operating cash burn below $55M vs. $81.5M last year

The company states: "OncoMed (OMED) ended 2017 with approximately $103.1 million in cash. OncoMed's current cash is estimated to be sufficient to fund operations through at least the third quarter of 2019, without taking into account future potential milestone payments from partners. Full-year net cash burn for 2017 was approximately $81.5 million, in accordance with the company's 2017 guidance. OncoMed estimates 2018 operating cash burn to be less than $55 million, before considering potential milestones/opt-ins. Enrollment has concluded in the Phase 1a/b clinical program of rosmantuzumab that included five patients harboring a RSPO3 gene fusion, as well as patients with high RSPO3 gene expression levels. OncoMed's clinical experience to date in treating these patients has failed to provide compelling evidence of clinical benefit. The company expects that data from the Phase 1 study will be presented at a future medical conference and is discussing next steps with its partner Celgene (CELG)".

OMED

OncoMed

$3.98

0.08 (2.05%)

CELG

Celgene

$106.68

-2.46 (-2.25%)

  • 18

    Jan

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    Jan

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    Jan

  • 16

    Feb

  • 25

    Mar

OMED OncoMed
$3.98

0.08 (2.05%)

07/10/17
PIPR
07/10/17
NO CHANGE
Target $5
PIPR
Neutral
OncoMed termination from GSK not surprising, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff believes GlaxoSmithKline (GSK) terminating its agreement with OncoMed Pharmaceuticals (OMED) is not surprising since tarextumab, the only remaining asset under the collaboration, failed previously to meet the primary endpoint in a Phase II study for first-line small cell lung cancer. The analyst says he remains focused on OncoMed's early stage pipeline including navicixizumab, rosmantuzumab and I/O assets anti-TIGIT and GITR trimer. Tenthoff keeps a Neutral rating on OncoMed with a $5 price target.
04/17/17
JMPS
04/17/17
DOWNGRADE
JMPS
Market Perform
OncoMed downgraded to Market Perform from Outperform at JMP Securities
04/17/17
RHCO
04/17/17
DOWNGRADE
RHCO
Hold
OncoMed downgraded to Hold from Buy at SunTrust
04/17/17
PIPR
04/17/17
DOWNGRADE
Target $5
PIPR
Neutral
Piper downgrades OncoMed after second failed study
Piper Jaffray analyst Edward Tenthoff downgraded OncoMed Pharmaceuticals to Neutral from Overweight after the company's Phase II tarextumab study in first-line small cell lung cancer failed. The analyst cut his price target for the shares to $5 from $17. The trial failure follows last week's negative Phase II data on demcizumab in first-line pancreatic cancer last week, Tenthoff tells investors in a research note. OncoMed in morning trading is down 20% to $3.86.
CELG Celgene
$106.68

-2.46 (-2.25%)

01/03/18
WELS
01/03/18
UPGRADE
Target $53
WELS
Outperform
Arena Pharmaceuticals upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Jim Birchenough upgraded Arena Pharmaceuticals (ARNA) to Outperform and raised his price target for the shares to $53 from $19. The stock closed yesterday up 7% to $36.21. An improved FDA environment could facilitate approval of ralinepag in pulmonary arterial hypertension, Birchenough tells investors in a research note. He's upgrading the shares ahead of the Phase 2 data for S1P modulator etrasimod in ulcerative colitis. The analyst believes recent data from Celgene's (CELG) competing S1P modulator ozanimod "lowers the bar for differentiation." Both of Arena's assets "could attract large Pharma interest," Birchenough adds.
12/29/17
PIPR
12/29/17
NO CHANGE
PIPR
Biotech fund outflows continue, says Piper Jaffray
For the weekly period ending Wednesday, December 27, healthcare/biotech funds saw $338M in net outflows, representing a 0.58% decrease in assets, Piper Jaffray analyst Christopher Raymond tells investors in a research note. This marks the seventh straight negative week and the eleventh week of outflows in the past 12 weeks, the analyst points out in a research note titled "Ending 2017 on a Down Note: Biotech Outflows Continue."
12/27/17
12/27/17
NO CHANGE

On The Fly: Top analyst actions
Catch up on today's top analyst actions with this list compiled by The Fly: 1. Hancock Holding (HBHC) upgraded to Outperform from Market Perform at Hovde Group. 2. Callaway Golf (ELY) downgraded to Sell from Neutral at Compass Point with analyst Casey Alexander cutting his price target for the shares to $13.50 from $14.50. 3. Celgene (CELG) downgraded to Market Perform from Outperform at Bernstein. 4. Edison International (EIX) downgraded to Hold from Buy at Edward Jones. 5. Aratana Therapeutics (PETX) and Kindred Biosciences (KIN) were initiated with a Neutral at CL King. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/27/17
BERN
12/27/17
DOWNGRADE
BERN
Market Perform
Celgene downgraded to Market Perform from Outperform at Bernstein

TODAY'S FREE FLY STORIES

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CFBK

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TAHO

Tahoe Resources

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0.06 (1.59%)

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BE

Bloom Energy

$22.66

0.44 (1.98%)

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CRK

Comstock Resources

$8.26

-0.46 (-5.28%)

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IBP

Installed Building Products

$46.80

-2.55 (-5.17%)

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Installed Building Products falls -5.3% »

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LCI

Lannett

$5.55

-7.95 (-58.89%)

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  • 20

    Aug

  • 28

    Aug

CATM

Cardtronics

$37.25

0.08 (0.22%)

12:00
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Options
Second day of call buying in Cardtronics »

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ATV

Acorn International

$22.00

3.14 (16.65%)

12:00
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Acorn International rises 8.7% »

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AMRX

Amneal Pharmaceuticals

$23.96

2.43 (11.29%)

12:00
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  • 05

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CMCM

Cheetah Mobile

$10.85

1.75 (19.23%)

12:00
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Cheetah Mobile rises 19.5% »

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  • 20

    Aug

PCG

PG&E

$45.05

-0.195 (-0.43%)

, EIX

Edison International

$69.44

-0.42 (-0.60%)

11:59
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Periodicals
California's Dodd says securitization of PG&E liability mulled, Bloomberg says »

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PCG

PG&E

$45.05

-0.195 (-0.43%)

EIX

Edison International

$69.44

-0.42 (-0.60%)

03/08/13
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  • 25

    Sep

IMTE

Integrated Media Technology

$12.20

0.2 (1.67%)

11:58
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Integrated Media unit enters distribution agreement with Ai Holdings »

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MSFT

Microsoft

$106.76

-0.82 (-0.76%)

11:57
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Skype's end-to-end encrypted Private Conversations now available for all users »

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  • 04

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TSLA

Tesla

$302.49

-2.84 (-0.93%)

11:55
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11:55
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  • 29

    Oct

TSLA

Tesla

$302.35

-2.98 (-0.98%)

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Tesla's lawyers believe SEC 'under pressure' to expdite probe, Gasparino tweets »

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  • 29

    Oct

PX

Praxair

$157.81

1.86 (1.19%)

, LNEGY

Linde

$0.00

(0.00%)

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PX

Praxair

$157.81

1.86 (1.19%)

LNEGY

Linde

$0.00

(0.00%)

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SPY

SPDR S&P 500 ETF Trust

$285.40

0.38 (0.13%)

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11:50
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General news
Treasury's $96 B 3- and 6-month bill sale was ok »

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XLU

Utilities SPDR

$54.43

-0.07 (-0.13%)

11:40
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Options
Opening call write in SPDR Utility ETF »

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11:36
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IMNP

Immune Pharmaceuticals

$0.00

(0.00%)

11:36
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  • 22

    Aug

RIG

Transocean

$11.23

0.47 (4.37%)

11:30
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Options
Notable call buyer in Transocean »

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