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AZN

AstraZeneca

$37.92

0.54 (1.44%)

, MRK

Merck

$80.25

1.03 (1.30%)

16:57
06/03/19
06/03
16:57
06/03/19
16:57

AstraZeneca, Merck present full Phase 3 SOLO3 trial results at ASCO

AstraZeneca (AZN) and Merck (MRK) presented full results from the Phase 3 SOLO3 trial which compared Lynparza with physician's choice of chemotherapy in the treatment of patients with germline BRCA1/2-mutated, or gBRCAm, advanced ovarian cancer who had received two or more prior lines of chemotherapy. The results from the trial, presented at the American Society of Clinical Oncology, or ASCO, showed a statistically-significant and clinically-meaningful improvement in objective response rate, or ORR, for Lynparza vs. chemotherapy. ORR measures the proportion of patients with reduction in tumour burden of a predefined percentage. The trial also met the secondary endpoint of progression-free survival, or PFS, demonstrating a statistically-significant and clinically-meaningful improvement in the time patients lived without disease progression for Lynparza vs. chemotherapy. The safety and tolerability profile of Lynparza in the SOLO3 trial was consistent with previous trials. The most common adverse events, or AEs, greater than or equal to 20% were nausea, fatigue/asthenia, anaemia, vomiting, diarrhoea, neutropenia and abdominal pain. The most common greater than or equal to Grade 3 AEs were anaemia, neutropenia, fatigue/asthenia and thrombocytopenia. AEs led to dose interruption in 48% of patients on Lynparza while 7% of patients discontinued treatment. Lynparza, which is being jointly developed and commercialised by AstraZeneca and Merck, is approved for multiple indications in advanced ovarian cancer and metastatic breast cancer and has been used in over 20,000 patients worldwide. SOLO3 was a Phase III randomised, open-label, controlled, multicentre trial to evaluate the efficacy and safety of Lynparza tablets following two or more prior lines of chemotherapy. The trial randomised 266 patients with a deleterious or suspected deleterious BRCA1 or BRCA2 mutation. Eligible patients were randomised to receive Lynparza 300mg tablets twice daily or physician's choice of single-agent chemotherapy. The primary endpoint was ORR by blinded independent central review and key secondary endpoints included PFS, time to second disease progression or death and overall survival. The SOLO3 trial addresses a post-approval commitment from the December 2014 accelerated U.S. approval of Lynparza in ovarian cancer.

AZN

AstraZeneca

$37.92

0.54 (1.44%)

MRK

Merck

$80.25

1.03 (1.30%)

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AZN AstraZeneca
$37.92

0.54 (1.44%)

05/29/19
HCWC
05/29/19
NO CHANGE
HCWC
Buy
AstraZeneca decision does not impact MEDI0457, says H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju says AstraZeneca's (AZN) decision to discontinue activities related to two new DNA-based cancer vaccine candidates from Inovio (INO) does not affect MEDI0457. AstraZeneca continues to pursue the development of MEDI0457, which is being evaluated in combination with durvalumab in multiple Phase 2 studies in HPV-related cancers, Selvaraju tells investors in a research note. Inovio is eligible to receive up to $700M potential milestone payments, including $250M related to MEDI0457, says the analyst. He reiterates a Buy rating on Inovio with a $13 price target.
05/29/19
CANT
05/29/19
NO CHANGE
Target $12
CANT
Overweight
Inovio milestones from Astra still worth up to $250M, says Cantor Fitzgerald
Inovio (INO) announced that it received notification from MedImmune, a subsidiary of AstraZeneca (AZN), that it plans to discontinue research collaboration programs except for the MEDI0457/ durvalumab combo studies that are in multiple Phase 2 trials in patients with HPV associated cancers, Cantor Fitzgerald analyst Charles Duncan tells investors in a research note. Despite "strained optics," the collaboration change makes sense, says the analyst. He estimates Inovio's MEDI0457 milestones are worth up to $250M and keeps an Overweight rating on the shares with a $12 price target.
05/30/19
GUGG
05/30/19
NO CHANGE
GUGG
Buy
Array BioPharma could be seen as target after 'de-risking' data, says Guggenheim
Guggenheim analyst Michael Schmidt said Array Biopharma (ARRY) may be perceived by investors as a theoretical acquisition target following the disclosure of Phase 3 interim results of Braftovi/Mektovi in BRAF+ colorectal cancer, which he views as positive and a "de-risking event." 67% of announced acquisitions in oncology with a comparable market cap to Array had what he would consider major pipeline de-risking events in the 6 months prior to their deal announcements, Schmidt tells investors. Merck (MRK) and Pfizer (PFE) "seem to have most bandwidth for a deal," said Schmidt, who added that those two along with Bristol-Myers (BMY), AstraZeneca (AZN) and Roche (RHHBY) scored highest as possible large cap theoretical acquirers of Array in his analysis. Schmidt raised his price target on Array Biopharma shares to $38 from $37, though his analysis suggests a potential $40-$50 acquisition price if the company were to be bought.
05/30/19
SBSH
05/30/19
NO CHANGE
Target $7
SBSH
Buy
Inovio risk/reward attractive into data readouts, says Citi
Citi analyst Joel Beatty lowered his price target for Inovio Pharmaceuticals (INO) to $7 from $10 after AstraZeneca (AZN) decided to discontinue activities with respect to its rights to co-develop up to two new DNA-based cancer vaccine product candidates. The analyst, however, says this is a good time to buy shares of Inovio. The company has three phase 1/2 immuno-oncology combo trials expected to readout in the second half of 2019, and the stock's risk/reward is attractive into the news, Beatty tells investors in a research note.
MRK Merck
$80.25

1.03 (1.30%)

05/21/19
MSCO
05/21/19
NO CHANGE
Target $84
MSCO
Overweight
Morgan Stanley not lowering Keytruda projections despite Merck disappointment
After Merck announced that Keytruda monotherapy failed to beat chemotherapy in a Phase 3 triple negative breast cancer, or TNBC, trial, Morgan Stanley analyst David Risinger said he is not r lowering his Keytruda projections as he is hopeful that the drug can succeed in KN-355, another TNBC trial, later this year. In that trial, a combination of Keytruda plus chemo will be investigated in first-line TNBC, noted Risinger, who has an Overweight rating and $84 price target on Merck shares.
05/22/19
GUGG
05/22/19
NO CHANGE
GUGG
Buy
Guggenheim says Peloton Therapeutics a good strategic fit for Merck
Guggenheim analyst Seamus Fernandez said he thinks Peloton Therapeutics is a good strategic fit for Merck citing the "rational targeting" of a resistance mechanism to VEGF-TKIs commonly used in the treatment of Renal Cell Carcinoma, or RCC. Fernandez, who sees the transaction being minimally dilutive and having no impact on 2019 adjusted EPS guidance, keeps a Buy rating on Merck shares.
05/28/19
GSCO
05/28/19
INITIATION
Target $85
GSCO
Neutral
Merck initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Terence Flynn started Merck with a Neutral rating and $85 price target. The analyst projects the company's earnings and revenue growth through 2022 will be in-line with consensus. As such, he views the stock as fairly valued.

TODAY'S FREE FLY STORIES

ETON

Eton Pharmaceuticals

$5.66

-0.395 (-6.52%)

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WDAY

Workday

$154.10

-0.54 (-0.35%)

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UPS

UPS

$118.56

1.23 (1.05%)

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UPS announces retirement of COO Jim Barber »

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IPG

Interpublic Group

$20.79

0.14 (0.68%)

07:11
10/22/19
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Earnings
Interpublic Group 'on track' to deliver high end of 2%-3% organic growth in 2019 »

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AAPL

Apple

$240.49

4.2 (1.78%)

07:11
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Apple analyst commentary  »

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PG

Procter & Gamble

$119.04

1.55 (1.32%)

07:10
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Procter & Gamble: Q1 operating profit margin increased 280 basis points »

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PG

Procter & Gamble

$119.04

1.55 (1.32%)

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Procter & Gamble: Q1 reported gross margin increased 180 basis points »

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VCYT

Veracyte

$26.18

1.52 (6.16%)

07:09
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PRVB

Provention Bio

$6.09

-0.48 (-7.31%)

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PLAN

Anaplan

$44.35

0.34 (0.77%)

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IPG

Interpublic Group

$20.79

0.14 (0.68%)

07:08
10/22/19
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07:08
Earnings
Interpublic Group reports Q3 adjusted EPS 49c, consensus 47c »

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CSIQ

Canadian Solar

$18.51

0.39 (2.15%)

07:07
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Canadian Solar awarded 30 MWp project in Japan »

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BBY

Best Buy

$71.51

0.89 (1.26%)

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Best Buy announces free next-day shipping for holiday season »

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SGEN

Seattle Genetics

$100.86

13.44 (15.37%)

07:06
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07:06
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Seattle Genetics analyst commentary  »

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AER

AerCap

$56.60

0.65 (1.16%)

, BA

Boeing

$331.12

-12.97 (-3.77%)

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AerCap delivers new Boeing 787-9 Dreamliner to Air New Zealand »

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AER

AerCap

$56.60

0.65 (1.16%)

BA

Boeing

$331.12

-12.97 (-3.77%)

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JBLU

JetBlue

$17.54

0.59 (3.48%)

07:06
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Earnings
JetBlue backs FY20 EPS view of $2.50-$3.00, consensus $2.36 »

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SHW

Sherwin-Williams

$551.04

-9.93 (-1.77%)

07:05
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Earnings
SHW raised FY19 adjusted EPS view to $20.90-$21.30 from $20.40-$21.40 »

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RCKT

Rocket Pharmaceuticals

$13.63

0.35 (2.64%)

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GOOG

Alphabet

$1,246.23

-0.33 (-0.03%)

, GOOGL

Alphabet Class A

$1,244.23

-0.57 (-0.05%)

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$1,246.23

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FB

Facebook

$189.82

3.865 (2.08%)

TWTR

Twitter

$40.09

1.11 (2.85%)

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UPS

UPS

$118.56

1.23 (1.05%)

07:05
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UPS sees FY19 adjusted free cash flow over $4B »

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07:05
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General news
FX Update: The dollar managed to lift against most currencies »

FX Update: The dollar…

AVRO

Avrobio

$14.18

0.38 (2.75%)

07:04
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Avrobio appoints Holly May as Chief Commercial Officer »

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ABG

Asbury Automotive

$106.00

2.63 (2.54%)

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JBLU

JetBlue

$17.54

0.59 (3.48%)

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JetBlue sees Q4 capacity up 4.5%-6.5%, FY19 up 6%-7% »

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UPS

UPS

$118.56

1.23 (1.05%)

07:03
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Earnings
Breaking Earnings news story on UPS »

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