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JAZZ

Jazz Pharmaceuticals

$125.96

0.85 (0.68%)

16:07
01/03/19
01/03
16:07
01/03/19
16:07

Jazz Pharmaceuticals, Codiak BioSciences announce strategic collaboration

Jazz Pharmaceuticals and Codiak BioSciences announced that the companies have entered into a strategic collaboration agreement focused on the research, development and commercialization of exosome therapeutics to treat cancer. Codiak granted Jazz an exclusive, worldwide, royalty-bearing license to develop, manufacture and commercialize therapeutic candidates directed at five targets to be developed using Codiak's engEx precision engineering platform for exosome therapeutics. The targets focus on oncogenes that have been well validated in hematological malignancies and solid tumors but have been undruggable with current modalities, including NRAS and STAT3. Under the terms of the agreement, Codiak is responsible for the execution of pre-clinical and early clinical development of therapeutic candidates directed at all five targets through Phase 1/2 proof of concept studies. Following the conclusion of the applicable Phase 1/2 study, Jazz will be responsible for future development, potential regulatory submissions and commercialization for each product. Codiak has the option to participate in co-commercialization and cost/profit-sharing in the U.S. and Canada on up to two products. As part of the agreement, Jazz will pay Codiak an upfront payment of $56M. Codiak is eligible to receive up to $20M in preclinical development milestone payments across all five programs. Codiak is also eligible to receive milestone payments totaling up to $200M per target based on Investigational New Drug application acceptance, clinical and regulatory milestones, including approvals in the U.S., European Union and Japan, and sales milestones. Codiak is also eligible to receive tiered royalties on net sales of each approved product, with percentages ranging from mid-single digits in the lowest tier to high teens in the highest tier.

  • 20

    Mar

JAZZ Jazz Pharmaceuticals
$125.96

0.85 (0.68%)

12/14/18
WOLF
12/14/18
INITIATION
WOLF
Peer Perform
Jazz Pharmaceuticals initiated with a Peer Perform at Wolfe Research
12/12/18
12/12/18
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. Foamix (FOMX) initiated with a Buy at BofA/Merrill. 2. Jazz Pharmaceuticals (JAZZ) initiated with an Outperform at Oppenheimer while GW Pharmaceuticals (GWPH) was initiated with a Perform. 3. Six Flags (SIX) initiated with a Buy at Berenberg. 4. iQIYI (IQ) initiated with a Hold at HSBC. 5. Intercept (ICPT), Viking Therapeutics (VKTX), and Galmed (GLMD) were initiated with a Buy at B. Riley FBR, while Madrigal Pharmaceuticals (MDGL) initiated with a Neutral. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/11/18
OPCO
12/11/18
INITIATION
Target $180
OPCO
Outperform
Jazz Pharmaceuticals initiated with an Outperform at Oppenheimer
Oppenheimer analyst Esther Rajavelu started Jazz Pharmaceuticals with an Outperform rating and $180 price target. The company has laid the groundwork to sustain its sleep franchise post Xyrem generics, Rajavelu tells investors in a research note. The analyst believes Jazz has a "solid" base business with its central nervous system-related sleep disorders franchise and a late-stage pipeline with "several" near-term catalysts.
11/27/18
RBCM
11/27/18
NO CHANGE
RBCM
RBC Capital likes select Specialty Pharma names on recent sector selling
RBC Capital analyst Randall Stanicky is positive on Amneal Pharmaceuticals (AMRX), Endo International (ENDP), Flexion Therapeutics (FLXN), Jazz Pharmaceuticals (JAZZ) as his top selections in Specialty Pharma, saying the sector has come under particular pressure in the most recent market sell-off. The analyst anticipates Amneal Pharmaceuticals to benefit from a cyclical generics recovery in the 2nd half of 2019, saying its "valuation is compelling against growth outlook". For Endo International, Stanicky sees the cellulite data driven selloff as overdone and believes that its low valuation helps to set a floor for the stock. For Flexion, the analyst anticipates a 2019 inflection on ramping Zilretta launch, adding that its 32% short interest is "hard to ignore". For Jazz Pharma, Stanicky points to a re-set of expectations around Vyxeos in Q3 as the company enters a "catalyst-heavy path led by December 20th solriamfetol PDUFA" and a material discount in valuation. The analyst maintain his Outperform rating on these four stocks.

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MRVL

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