Harmony Biosciences to replace Retail Properties of America in S&P 600 on 10/22 04:5510/2210/22/21
Seelos shares offer 'significant potential upside optionality,' says B. Riley » 09:5210/2110/21/21
B. Riley analyst Mayank…
B. Riley analyst Mayank Mamtani calls Seelos Therapeutics (SEEL) his top "Battered Bastions" pick with the stock down 60% from intra-year highs. The company's fundamentals have strengthened as it pertains to the competitive positioning of its two lead pivotal-stage candidates, SLS-002 for the treatment of acute suicide ideation and behavior in patients with major depressive disorder and trehalose in patients with amyotrophic lateral sclerosis, Mamtani tells investors in a research note. The analyst is "encouraged" by the cross-read from Sage Therapeutics' (SAGE) recent regulatory strategy update of zuranolone in major depressive disorder to SLS-002's indication expansion plans in a larger prevalence, chronic disease setting. Also noteworthy is Seelos's progress with gene therapy candidate SLS-004, in which positive data in an in-vivo rat model utilizing CRISPR-dCas9 demonstrated that a single dose of SLS-004 reduced alpha-synuclein mRNA by 27% and SNCA protein expression by 40%, says the analyst. He sees "significant potential upside optionality" to the firm's $11 price target and reiterates a Buy rating on the shares.
Rexford Industrial sees FY21 core FFO $1.60-1.61, consensus $1.56 16:1910/2010/20/21
Rexford Industrial reports Q3 core FFO 43c, consensus 39c » 16:1810/2010/20/21
Reports Q3 revenue…
Reports Q3 revenue $115.4M, consensus $109.5M.
Steelcase management to meet virtually with Benchmark » 14:2710/2010/20/21
Virtual Meetings to be…
Virtual Meetings to be held on October 27-28 hosted by Benchmark.
Medirom Healthcare reports 316 salons in September » 08:2210/2010/20/21
MEDIROM Healthcare Technologies announced its major Key Performance Indicators, or KPIs, updated for the month of September 2021.The following monthly KPIs provide insight into the business fundamentals and progress of the Company, updated for the month of September 2021. The number of salons was 316 in September 2021, up from 284 in the year-ago period, primarily as a result of the acquisition of another brand in May 2021. Total customers served were 65,130 in September 2021, almost no change from September 2020. Sales per customer increased to JPY 6,428 in September 2021, up from JPY6,245 in September 2020. The increase is attributed to the upselling of value-added optional services. Our repeat ratio, a measure of repeat customers, was 82.0% in September 2021, almost no change from September 2020. Our operation ratio was 46.7% in September 2021, decreasing from 48.1% in the year-ago period. Total number of salons with data was 221 in September 2021, no change from September 2020. The number of salons with data decreases when we close salons with data available and increases as we open salons with such data.
Sage Therapeutics price target lowered to $84 from $100 at Oppenheimer » 08:1010/2010/20/21
Oppenheimer analyst Jay…
Oppenheimer analyst Jay Olson lowered the firm's price target on Sage Therapeutics to $84 from $100 and keeps an Outperform rating on the shares. The analyst notes Sage shares were pressured by plans to complete zuranolone's NDA for MDD in the second half of 2022 with rolling submission beginning early-2022. Following a pre-NDA meeting, Sage clarified that positive Phase 3 WATERFALL efficacy results plus existing datasets, including Phase 3 SHORELINE and MOUNTAIN, are sufficient to begin the rolling submission process, and the company plans to include Phase 3 CORAL data once available in early-2022.
BlackBerry call volume above normal and directionally bullish » 13:4510/1910/19/21
Bullish option flow…
Bullish option flow detected in BlackBerry with 101,293 calls trading, 1.7x expected, and implied vol increasing almost 6 points to 68.67%. 10/22 weekly 11 calls and 10/22 weekly 10.5 calls are the most active options, with total volume in those strikes near 36,000 contracts. The Put/Call Ratio is 0.15. Earnings are expected on December 21st.
Avadel Pharmaceuticals presents new data from Phase 3 REST-ON trial of FT218 » 08:2210/1910/19/21
Avadel Pharmaceuticals announced new data from the completed pivotal Phase 3 REST-ON clinical trial of FT218, also known as ON-SXB. The post-hoc data are being presented in as two separate posters at the American College of Chest Physicians annual meeting, taking place virtually October 17 - 20, 2021, along with the results of a discrete choice experiment to understand patient preference. FT218 is the Company's lead drug candidate, an investigational formulation of sodium oxybate designed to be taken once at bedtime for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy. FT218 is currently under review at the U.S. Food and Drug Administration. Sleep Latency Response with FT218, a Once-Nightly Sodium Oxybate: Post-Hoc Responder Analyses from the Phase 3 REST-ON Clinical Trial. ON-SXB treatment was associated with statistically significant improvements compared to placebo on mean sleep latency in the Phase 3 REST-ON clinical trial: a significantly greater proportion of participants who received ON-SXB compared to placebo experienced increased mean sleep latency change from baseline. Improvement was evident as early as week 3 at the 6-g dose and increased with the 7.5-g dose at week 8 and the 9-g dose at week 13. The most common adverse drug reactions with ON-SXB 9 g were enuresis, dizziness, and vomiting. Cataplexy Response with FT218, a Once-Nightly Sodium Oxybate: Post-Hoc Responder Analyses from the Phase 3 REST-ON Clinical Trial. ON-SXB treatment was associated with statistically significant improvements compared to placebo on the number of weekly cataplexy episodes, as shown by the results of the pivotal Phase 3 REST-ON clinical trial: A significantly greater proportion of participants treated with ON-SXB compared to placebo experienced 25%, 50% and 75% reductions in the number of weekly cataplexy episodes with once-at-bedtime doses of 6, 7.5, and 9 g. Of participants taking the two highest doses of ON-SXB, approximately 10% had complete elimination of their cataplexy, while approximately half had a 50% reduction and one-third had a 75% reduction in their weekly cataplexy episodes. The most common adverse drug reactions with ON-SXB 9 g were enuresis, dizziness, and vomiting. The Utility of Discrete Choice Experiment in Evaluating Treatment Preferences Among Patients with Narcolepsy. A discrete choice experiment evaluated drivers of patient preference for sodium oxybate and demonstrated that dosing frequency was the single most important attribute of a narcolepsy treatment, with once-nightly dosing significantly more preferred than twice-nightly dosing. The number of nightly doses was also the most important driver observed of "taking the medication exactly as directed" and "reduced anxiety/stress", with once-nightly dosing preferred over twice-nightly dosing.
Sage Therapeutics assumed with an Equal Weight at Morgan Stanley » 08:2110/1910/19/21
Morgan Stanley analyst…
Morgan Stanley analyst Vikram Purohit assumed coverage of Sage Therapeutics with an Equal Weight rating with a price target of $66, down from $78. While he believes Zuranolone is a potentially novel treatment option for depression, he suspects the market's views on commercial uptake are "likely to remain constrained due to concerns regarding durability," Purohit tells investors.