|Over a week ago|
Fly Intel: Pre-market Movers » 08:5901/1301/13/22
BA, PBYI, ADGI, DAL, KBH, TSM, SPCE, QRVO, MRNA, CF
Check out this morning's…
Adagio's ADG20 timeline and approval path still uncertain, says Morgan Stanley » 07:0401/1301/13/22
After Adagio Therapeutics' management provided an update on ADG20 neutralization activity with recently published data and highlighted data that indicate ADG20 retains some neutralization activity against omicron, Morgan Stanley analyst Matthew Harrison pointed out that management noted that it's unclear whether the FDA would allow the company to include higher dose arm(s) without conducting a Phase 1 trial and added that he thinks it is unclear when the FDA would be able to provide an update on the proposed protocol change, making the timeline and approval pathway uncertain. While the ADG20 update is likely to be perceived positively, he believes Adagio's COVID opportunity remains uncertain and Harrison maintains an Underweight rating and $6 price target on the shares, which are up $1.00, or 17%, to $6.83 in pre-market trading.
Adagio Therapeutics spikes higher after report on ADG20 against Omicron » 17:4801/1201/12/22
Shares of Adagio…
Shares of Adagio Therapeutics are up approximately 23% or $1.33 per share to approximately $7.22 in after-hours trading on Wednesday after reporting recent findings reported in three separate publications that show ADG20, its lead monoclonal antibody, mAb, has neutralization activity against the Omicron variant of SARS-CoV-2, and outlined initiatives to address current and future SARS-CoV-2 variants of concern. Adagio is evaluating ADG20 in its global Phase 2/3 clinical trials for both the prevention and treatment of COVID-19. Adagio is engaging with the U.S. Food and Drug Administration, FDA, regarding potential protocol updates to its global Phase 2/3 clinical trials, including an increased dose of ADG20 for the potential prevention and treatment of COVID-19 resulting from the Omicron variant.
Adagio summarizes neutralization activity of its mAb ADG20 against Omicron » 17:3701/1201/12/22
Adagio Therapeutics summarized recent findings reported in three separate publications that show ADG20, its lead monoclonal antibody, mAb, has neutralization activity against the Omicron variant of SARS-CoV-2, and outlined initiatives to address current and future SARS-CoV-2 variants of concern. Adagio is evaluating ADG20 in its global Phase 2/3 clinical trials for both the prevention and treatment of COVID-19. Adagio is engaging with the U.S. Food and Drug Administration, FDA, regarding potential protocol updates to its global Phase 2/3 clinical trials, including an increased dose of ADG20 for the potential prevention and treatment of COVID-19 resulting from the Omicron variant. Recently published in vitro studies examined the neutralization potencies of large panels of mAbs against the Omicron variant in both authentic and pseudovirus assays. Findings across all three studies show that among mAbs in late-stage clinical development or with Emergency Use Authorization, EUA, ADG20 is one of only a few mAbs that demonstrated neutralizing activity against Omicron. Across two distinct authentic neutralization assays against Omicron, the data show that ADG20 had an IC50, a measurement of neutralization potency, of approximately 0.4 to 1.1 microgram/mL, which is comparable with the two other active mAbs, sotrovimab and AZD7742...In addition to its clinical trial updates, Adagio is pursuing multiple strategies to address both Omicron and potential future variants that may emerge.
Adagio Therapeutics downgraded to Underweight from Equal Weight at Morgan Stanley » 08:1301/0601/06/22
Morgan Stanley analyst…
Morgan Stanley analyst Matthew Harrison downgraded Adagio Therapeutics to Underweight from Equal Weight with a price target of $6, down from $11. He believes its "major product," mAB ADG-20/10, has missed the critical window to achieve a major bolus of COVID sales and even if it is approved he does not expect major government contracts or stockpiling, Harrison tells investors. Meanwhile, the company's non-COVID pipeline is still in the pre-clinical stage and "too early to place significant value" on, Harrison said.
Four new option listings and one option delisting on December 27th » 08:3012/2712/27/21
ADGI, PECO, PTPI, FATH, ATMR
New option listings for…
New option listings for December 27th include Adagio Therapeutics Inc (ADGI), Phillips Edison and Company Inc (PECO), Petros Pharmaceuticals (PTPI), and FATH Stock (FATH). Option delistings effective December 27th include Altimar Acquisition Corp II (ATMR).
|Over a month ago|
Fly Intel: Top five analyst downgrades » 10:0012/2212/22/21
ADGI, AGCO, CGC, ALLK, ALXO
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Adagio Therapeutics (ADGI) downgraded to Hold from Buy at Jefferies with analyst Michael Yee saying the company's lead drug ADG20 is currently in Phase III for treatment and prevention of COVID-19 and hesees uncertainty around the next steps and development plan saying the antibody has reduced neutralization against the omicron variant. 2. Agco (AGCO) downgraded to Market Perform from Outperform at Bernstein with analyst Chad Dillard saying 90% of Agco's end markets are at their peak, with North America small and large ag and Europe exiting 2022 above historical peaks. 3. Canopy Growth (CGC) downgraded to Underperform from Neutral at BofA with analyst Lisa Lewandowski noting that while she sees long-term potential for the legal cannabis industry driven by U.S. Federal legalization and changing attitudes toward cannabis consumption, the company is faced with challenges from execution issues and a tough Canadian operating environment. 4. Allakos (ALLK) downgraded to Hold from Buy at Jefferies, and downgraded to Market Perform from Outperform at Cowen, William Blair and SVB Leerink. 5. ALX Oncology (ALXO) downgraded to Hold from Buy at Jefferies with analyst Michael Yee saying investors were excited for ALXO's CD47 in myelodysplastic syndromes but it failed to meet expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Jefferies downgrades Adagio on uncertainty over COVID antibody » 05:2612/2212/22/21
Jefferies analyst Michael…
Jefferies analyst Michael Yee downgraded Adagio Therapeutics to Hold from Buy with a price target of $10, down from $46. The company's lead drug ADG20 is currently in Phase III for treatment and prevention of COVID-19. The analyst sees uncertainty around the next steps and development plan saying the antibody has reduced neutralization against the omicron variant. The issue is "it will take a lot of time to get more answers" and the Phase III timeline may be delayed due to shifting into new countries and to avoid omicron, Yee tells investors in a research note. Adagio shares were "very interesting near cash levels around $5 but has since doubled back up to $10 and uncertainty abounds," contends the analyst.
Adagio Therapeutics downgraded to Hold from Buy at Jefferies » 04:4612/2212/22/21
Jefferies analyst Michael…
Jefferies analyst Michael Yee downgraded Adagio Therapeutics to Hold from Buy with a price target of $10, down from $46.
Adagio story 'even more complicated' after preprints on ADG20, says Stifel » 13:0612/1612/16/21
ADGI, VIR, GSK, AZN
Stifel analyst Stephen…
Stifel analyst Stephen Willey said the publication within the last 12 or so hours of two preprint manuscripts including independently generated lab data that suggest a lower "omicron-induced hit" to ADG20 neutralization potency has generated significant volatility in Adagio Therapeutics (ADGI) shares and may have made the story "even more complicated." The top-line preclinical data generated in two independent and well-regarded laboratories, who also evaluated GlaxoSmithKline (GSK) and Vir Biotechnology's (VIR) sotrovimab and AstraZeneca's (AZN) Evusheld, suggest the drop in neutralization potency of ADG20 against the omicron variant may be less than the greater than 300 times reduction in neutralization potency previously advertised by the company, but Willey views it as "incomprehensible to believe" that the company's management "would have issued a press release earlier this week that destroyed billions of dollars in value without having more definitive data in hand." The analyst, who said the company suggested to him that they are actively reviewing the new data, has a Hold rating and $9 price target on Adagio shares.