Unusually active option classes on open August 4th » 09:4008/0408/04/20
PSTG, ARCC, ADT, BP, VALE, AZN, INTC, PINS, MO
Unusual total active…
Unusual total active option classes on open include: Pure Storage (PSTG), Ares Capital (ARCC), ADT (ADT), ProShares VIX Short Term Futures (VIXY), BP (BP), Vale (VALE), AstraZeneca (AZN), Intel (INTC), Pinterest (PINS), and Altria Group (MO).
Ideaya Biosciences announces HSR clearance of GlaxoSmithKline partnership » 06:1408/0408/04/20
Ideaya Biosciences announced the effectiveness of the collaboration, option and license agreement between the company and GlaxoSmithKline (GSK) following clearance under the Hart-Scott-Rodino Antitrust Improvements Act, or HSR. Pursuant to the agreement, Ideaya received an upfront cash payment of $100M from GSK. The strategic partnership in Synthetic Lethality includes Ideaya's MAT2A, Pol Theta, and Werner Helicase programs. Ideaya also announced closing of a direct private placement equity financing pursuant to a stock purchase agreement between Ideaya and Glaxo Group. Glaxo Group purchased 1,333,333 shares of Ideaya's common stock at a price per share of $15.00. Ideaya received proceeds from Glaxo Group of approximately $20M. Ideaya expects current cash, cash equivalents and marketable securities to support planned operations into 2024.
MorphoSys FDA approval in line with expectations, says Deutsche Bank » 13:2708/0308/03/20
Deutsche Bank analyst…
Deutsche Bank analyst Rajan Sharma reiterated a Buy rating and EUR129 price target on MorphoSys (MOR) after the company and Incyte (INCY) announced conditional FDA approval of Fc-engineered CD19 antibody tafasitamab in combination with Revlimid for the treatment of relapsed/refractory diffuse large B-cell lymphoma ahead of its August 30 PDUFA data. The analyst said that approval is in line with his expectations.
Novo Nordisk price target lowered to DKK 425 from DKK 435 at Morgan Stanley » 12:0208/0308/03/20
Morgan Stanley analyst…
Morgan Stanley analyst Mark Purcell lowered the firm's price target on Novo Nordisk to DKK 425 from DKK 435 and keeps an Equal Weight rating on the shares.
Monjuvi U.S. launch a solid long-term contributor for Incyte, says Piper Sandler » 11:1008/0308/03/20
Piper Sandler analyst…
Piper Sandler analyst Tyler Van Buren notes that Incyte (INCY) and partner MorphoSys (MOR) hosted a call on Monday to review the approval of Monjuvi. Based on management's comments, the analyst thinks the pricing is reasonable considering the observed treatment benefit, and continues to have confidence in the upcoming Monjuvi U.S. launch given the synergies that will likely be realized by leveraging Incyte's current Jakafi infrastructure and recent experience from the Pemazyre virtual drug launch. Recall that it is a 50/50 profit share in the U.S., so substantial profit likely won't be realized until next year, but still could be a meaningful $300M profit contributor long-term, he contends. Van Buren has an Overweight rating and a price target of $110 on Incyte's shares.
Unusually active option classes on open August 3rd » 09:4008/0308/03/20
EWJ, MOS, CLX, GSK, VALE, MSFT, RIOT, UNG, JMIA, MPC
Unusual total active…
Unusual total active option classes on open include: iShares Japan (EWJ), Mosaic (MOS), Clorox (CLX), GlaxoSmithKline (GSK), Vale (VALE), Microsoft (MSFT), Riot Blockchain (RIOT), U.S. Natural Gas Fund (UNG), Jumia Technologies (JMIA), and Marathon Petroleum (MPC).
Moderna's Phase 3 data on COVID vaccine could come by October, says Jefferies » 06:5508/0308/03/20
MRNA, PFE, BNTX, AZN
Jefferies analyst Michael…
Jefferies analyst Michael Yee said he sees fast enrollment in the Phase 3 study of Moderna's (MRNA) COVID-19 vaccine, along with above-average infection rates in U.S. hot spots, leaving 70% odds that the trial could meet its primary endpoint before the end of October to early November based on the first or second interim. Yee believes Moderna's Phase 3 trial has a 65% chance of working and with data coming potentially as soon as October he thinks emergency use authorization approval is potentially possible by the end of 2020. He sees similar, if not earlier into September, timing for the vaccine candidate being studied by Pfizer (PFE) and BioNTech (BNTX), due to global enrollment and other minor details, Yee added. He also estimates Oxford and AstraZeneca's (AZN) data may read out by Fall given more EU based enrollment and infection rate sensitivities, the analyst noted.
Xencor earns milestone payment from MorphoSys for FDA approval of Monjuvi » 14:2208/0208/02/20
XNCR, MOR, INCY
Xencor (XNCR) announced…
Xencor (XNCR) announced that the U.S. Food and Drug Administration approved MorphoSys' (MOR) Monjuvi, a CD19-directed cytolytic antibody indicated in combination with lenalidomide for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma not otherwise specified, including DLBCL arising from low grade lymphoma, and who are not eligible for autologous stem cell transplant. The most common adverse reactions are neutropenia, fatigue, anemia, diarrhea, thrombocytopenia, cough, pyrexia, peripheral edema, respiratory tract infection, and decreased appetite. Xencor has earned a $25M milestone payment from MorphoSys under the license agreement between the companies for Monjuvi in connection with the regulatory approval. Xencor licensed exclusive worldwide rights to develop and commercialize Monjuvi, product code MOR208 and previously XmAb5574, to MorphoSys in 2010. Monjuvi incorporates Xencor's XmAb engineered Fc domain, which mediates B-cell lysis through apoptosis and immune effector mechanism including antibody-dependent cell-mediated cytotoxicity and antibody-dependent cellular phagocytosis. Xencor is eligible to receive royalties on worldwide net sales in the high-single to low-double digit percent range and additional development, regulatory and sales milestone payments. Monjuvi will be co-commercialized in the U.S. by MorphoSys and Incyte (INCY). The European Marketing Authorization Application for tafasitamab, based on data from the L-MIND study and supported by the Re-MIND observational retrospective study, is currently under review by the European Medicines Agency.
MorphoSys announces FDA approval of Monjuvi, Lenalidomide combo » 14:1708/0208/02/20
MorphoSys (MOR) announced…
MorphoSys (MOR) announced that the U.S. Food and Drug Administration has approved Monjuvi in combination with lenalidomide for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma not otherwise specified, including DLBCL arising from low grade lymphoma, and who are not eligible for autologous stem cell transplant. Monjuvi, a humanized Fc-modified cytolytic CD19-targeting monoclonal antibody, has been approved under accelerated approval by the U.S. FDA based on overall response rate. Continued approval may be contingent upon verification and description of clinical benefit in a confirmatory trial or trials. The FDA decision represents the first approval of a second-line treatment for adult patients who progressed during or after first-line therapy. The FDA approval was based on data from the MorphoSys-sponsored Phase 2 L-MIND study, an open label, multicenter, single arm trial of Monjuvi in combination with lenalidomide as a treatment for adult patients with relapsed or refractory DLBCL. The FDA previously granted Fast Track and Breakthrough Therapy Designation for this combination in relapsed or refractory DLBCL, and the Biologics License Application for Monjuviwas granted Priority Review and approved under the FDA's Accelerated Approval program. Monjuvi is expected to be commercially available in the United States shortly. MorphoSys and its partner Incyte (INCY) will co-commercialize Monjuvi in the United States. Incyte has exclusive commercialization rights outside the United States.
Society for Robotic Surgery to hold a virtual symposium » 04:5508/0208/02/20
BDX, CNMD, EXAS, TFX, PCRX
World Robotic Virtual…
World Robotic Virtual Symposium 2020 will be held on July 30-August 2. Webcast Link