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FMI

Foundation Medicine

$137.00

(0.00%)

, RHHBY

Roche

$0.00

(0.00%)

12:05
08/06/18
08/06
12:05
08/06/18
12:05

Foundation Medicine publishes new data in Nature Medicine on bTMB

Foundation Medicine (FMI) announced the publication of the results of a large study demonstrating that its novel, investigational assay to measure blood tumor mutational burden can help predict response to the anti-PD-L1 immunotherapy, atezolizumab, in patients with previously treated non-small cell lung cancer. The study, published in the journal Nature Medicine, was the result of a collaboration between Foundation Medicine and Genentech, a member of the Roche Group (RHHBY), and demonstrates the potential of bTMB to expand precision oncology approaches for patients with advanced cancers, including metastatic lung cancer. In addition, these results show that bTMB may be an independent predictor of clinical benefit, regardless of PD-L1 expression as assessed by immunohistochemistry. In the study, clinical data for the novel bTMB assay was reported from a retrospective analysis of more than 1,000 samples from patients with previously treated, advanced NSCLC who participated in Genentech's Phase II POPLAR and Phase III OAK clinical trials. The study used samples from the POPLAR trial to identify a range of bTMB thresholds that correlated with clinically meaningful outcomes, which were then confirmed using samples from the OAK study. Within the OAK study, patients with bTMB greater than or equal to 16 total mutations showed significantly improved progression-free survival when treated with atezolizumab as compared to those patients with bTMB greater than or equal to 16 total mutations treated with docetaxel chemotherapy. This bTMB assay is being prospectively evaluated in two Genentech studies: in the Phase III Blood First Assay Screening Trial as a companion diagnostic assay to validate bTMB as a non-invasive biomarker of response to first-line atezolizumab in advanced NSCLC patients, and in the single arm Phase II Blood First-Line Ready Screening Trial evaluating atezolizumab monotherapy in first-line NSCLC. In April 2018, the U.S. Food and Drug Administration granted a Breakthrough Device designation for Foundation Medicine's new liquid biopsy assay, which will expand upon its current liquid biopsy assay to include genomic biomarkers for microsatellite instability and bTMB. If approved, this test could be the first FDA-approved liquid biopsy assay to incorporate multiple companion diagnostics and multiple biomarkers to inform the use of targeted oncology therapies, including immunotherapies.

FMI

Foundation Medicine

$137.00

(0.00%)

RHHBY

Roche

$0.00

(0.00%)

  • 08

    Aug

FMI Foundation Medicine
$137.00

(0.00%)

06/20/18
SBSH
06/20/18
NO CHANGE
Target $100
SBSH
Buy
Tesaro could be valued at $140-$213 in takeover scenario, says Citi
Citi analyst Robyn Karnauskas said that investors have been asking about her M&A analysis for Tesaro, which she has published previously. Her analysis suggests the company could be valued at $140-$213 per share in a takeover scenario, noted Karnauskas, who maintains a Buy rating and $100 price target on Tesaro shares. The questions may have increased after Spanish website Intereconomia reported that following its acquisition of Foundation Medicine (FMI), Roche (RHHBY) is working with Citibank on a potential acquisition of Tesaro, The Fly notes.
06/19/18
WBLR
06/19/18
DOWNGRADE
WBLR
Market Perform
Foundation Medicine downgraded to Market Perform at William Blair
William Blair downgraded Foundation Medicine (FMI) to Market Perform from Outperform after the company announced a deal to be acquired by Roche (RHHBY) for $137 per share in cash.
02/15/18
02/15/18
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. Portland General Electric (POR) initiated with a Buy at Mizuho. 2. Arsanis (ASNS) initiated with an Overweight at Cantor Fitzgerald. 3. Cantor says PolarityTE (COOL) can revolutionize regenerative medicine. 4. Foundation Medicine (FMI) initiated with an Outperform at Cowen. 5. Box (BOX) initiated with a Buy at DA Davidson. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
02/15/18
COWN
02/15/18
INITIATION
Target $90
COWN
Outperform
Foundation Medicine initiated with an Outperform at Cowen
Cowen analyst Doug Schenkel started Foundation Medicine with an Outperform rating and $90 price target. The company is the "uniquely positioned" leader in comprehensive cancer profiling, Schenkel tells investors in a research note. He believes Foundation's clinical volumes are likely to accelerate following the recent CMS/FDA dual path approval.
RHHBY Roche
$0.00

(0.00%)

07/11/18
WELS
07/11/18
NO CHANGE
WELS
Drug stocks may not react favorably to Pfizer price rollback, Trump tweets, says Wells Fargo
Wells Fargo analyst David Maris notes that there was widespread media coverage of drug price increases taken recently by several large cap drug companies, with President Trump criticizing Pfizer (PFE) for taking these price increases. On Tuesday, Pfizer confirmed it was rolling back its July drug price increases following a conversation with President Trump, he adds. Maris believes that drug stocks will not react favorably to this news, given the chilling effect this will likely have on others looking to take price increases. Nonetheless, the analyst points out that the price increases taken in July are only a small number of increases taken over the past year or several years, so the impact of the rollback to the healthcare system is insignificant in the big picture. Other publicly traded companies in the space include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Roche (RHHBY) and Sanofi (SNY).
07/11/18
ADAM
07/11/18
NO CHANGE
Target $140
ADAM
Buy
Celgene's Buy rating backed at Canaccord following Phase 3 Impassion130 results
Canaccord analyst John Newman maintained a Buy rating and $140 price target on Celgene (CELG) after the company said that the Phase 3 Impassion130 study showed progression-free survival, or PFS, improvement for 1L metastatic or unresectable triple negative breast cancer with Abraxane plus Tecentriq (RHHBY) , which opens the door to Tencentriq in this indication. In a research note to investors, Newman says he expects continued upside from pipeline advances and diversification based on in-licensing, M&A and organic R&D and that, as there are currently no alternatives to chemotherapy, the combination of Abraxane plus Tecentriq should see widespread use if approved. He views the advances in TNBC "very positively" given the high unmet need for viable therapy.
07/11/18
PIPR
07/11/18
NO CHANGE
Target $365
PIPR
Overweight
Biogen price target raised to $365 from $353 at Piper Jaffray
Piper Jaffray analyst Christopher Raymond raised his price target for Biogen (BIIB) to $365 saying a survey of 101 neurologists gives him increased confidence in the staying power of the company's multiple sclerosis franchise. Tecfidera market share "edged up slightly" during the quarter, and the survey shows signs of Roche's (RHHBY) Ocrevus "hitting a bit of a wall," Raymond tells investors in a research note. Further, the analyst continues to hear feedback that Celgene's (CELG) ozanimod "will be minimally differentiated." Despite increased signs of payer activism in the space, Biogen's MS franchise is well positioned for the near-to-intermediate term, Raymond contends. He raised his estimates for Tecfidera and keeps an Overweight rating on Biogen.
06/28/18
WELS
06/28/18
NO CHANGE
WELS
Wells says Amazon deal, Walgreens results have negative read for drug pricing
After Amazon (AMZN) agreed to acquire online pharmacy PillPack, reportedly for $1B, Wells Fargo analyst David Maris noted that he has long stated that Amazon would enter the pharmacy business and warned about the risk to drug pricing in such a scenario. Maris also noted that Walgreens (WBA) reported its U.S. retail pharmacy comparable store sales fell 1.2% in Q3, adding that retailers tend to push drugmakers on price when they feel pressure and the read-through from its report may be negative for drug pricing. Publicly traded large-cap drugmakers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).

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PLNT

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BA

Boeing

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GLD

SPDR Gold Shares

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ONEXF

Onex

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DZSI

DASAN Zhone

$12.10

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REPH

Recro Pharma

$9.73

0.1 (1.04%)

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DZSI

DASAN Zhone

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-0.12 (-0.98%)

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DJX

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General news
White House says hasn't received, been briefed on Mueller report, WSJ says »

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CATS

Catasys

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U.S. Well Services

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ADIL

Adial Pharmaceuticals

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STNG

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NAVB

Navidea

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Boeing

$362.49

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Northrop Grumman

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RTN

Raytheon

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AAPL

Apple

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  • 25

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RIVE

Riverview Financial

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