Roche, Atea Pharmaceuticals enter agreement for exclusive rights to AT-527 » 05:3310/2210/22/20
Atea Pharmaceuticals announced that the company has entered into an agreement with Roche for the exclusive rights to research, develop and distribute AT-527 as an oral antiviral treatment for COVID-19 in territories outside of the United States. Under the terms of the agreement, Atea will receive an upfront payment of $350M in cash from Roche with the potential for future milestone payments and royalties.
Boeing in early talks with customers about potential new plane, WSJ reports » 12:4010/2110/21/20
Boeing has held early…
Boeing has held early talks with a few customers to gauge potential interest in a new single-aisle aircraft with improved engines, according to The Wall Street Journal's Benjamin Katz, citing people familiar with the matter. Such a new aircraft model would fall between Boeing's largest 737 MAX and its twin-aisle 787 Dreamliner and "could help it make up lost ground" to rival Airbus (EADSY), the report said. Reference Link
Volkswagen price target raised to EUR 190 from EUR 184 at Societe Generale » 11:1710/2110/21/20
Societe Generale analyst…
Societe Generale analyst Stephen Reitman raised the firm's price target on Volkswagen to EUR 190 from EUR 184 and keeps a Buy rating on the shares.
PTC Therapeutics: Evrysdi approved in Brazil for treatment of SMA » 08:3510/2110/21/20
PTC Therapeutics (PTCT)…
PTC Therapeutics (PTCT) tannounced that Evrysdi was approved in Brazil by the National Health Surveillance Agency for the treatment of spinal muscular atrophy. The approval was obtained within seven months of Roche's (RHHBY) initial submission and marks the second country to approve Evrysdi. Additionally, PTC announced the filing of a New Drug Application for Evrysdi for the treatment of SMA with the Japanese Ministry of Health, Labor and Welfare. The filing in Japan by Chugai Pharmaceutical Co. Ltd., a member of the Roche group, triggers a $7.5M milestone payment to PTC from Roche.
Galapagos downgraded to Sell from Neutral at Goldman Sachs » 19:2110/2010/20/20
Goldman Sachs analyst…
Goldman Sachs analyst Graig Suvannavejh downgraded Galapagos (GLPG) to Sell from Neutral with a price target of EUR 87, down from EUR 108. The analyst says his updated model includes revised assumptions on the timing of U.S. and the international launches of filgotinib. Suvannavejh adds that he is changing his sales estimates for filgotinib due to a "meaningful delay in the timing of the U.S. launch given receipt of the August 2020 FDA CRL in the initial indication of RA" and sees the program at a considerable competitive disadvantage against AbbVie's (ABBV) Rinvoq.
Prothena, Roche to advance prasinezumab into late-stage clinical development » 16:1310/2010/20/20
Prothena (PRTA), a…
Prothena (PRTA), a late-stage clinical company with expertise in protein dysregulation and a diverse pipeline of investigational therapeutics for neurodegenerative and rare peripheral amyloid diseases, announced that based on positive signals of efficacy consistent with disease modification in the PASADENA study, Roche(RHHBY) and Prothena plan to advance prasinezumab into a Phase 2b study in patients with early Parkinson's disease. The study will be designed to further assess the efficacy of prasinezumab by expanding upon the patient population enrolled in PASADENA to include patients with early Parkinson's disease on stable levodopa therapy. Prasinezumab is the first anti-alpha synuclein antibody to advance into late-stage development. Prothena will earn a $60 million clinical milestone payment upon first patient dosed in this study. Further details are expected to be announced in the first half of 2021. "We are very encouraged by the results from PASADENA, demonstrating significant slowing of motor progression and improvements on imaging biomarkers consistent with disease modification, as this provides a rich dataset to directly inform and de-risk this next late-stage study," stated Gene Kinney, PhD, president and chief executive officer of Prothena. "Results from the PASADENA study are part of a growing clinical body of evidence suggesting antibodies that optimally target misfolded proteins can result in clinically meaningful benefit. With a growing pipeline of programs based on this scientific approach, Prothena is poised to advance a number of novel therapeutics for devastating diseases."
Ford plans to launch self-driving business in 2022, CNBC reports » 14:5010/2010/20/20
Ford Motor (F) plans to…
Ford Motor (F) plans to launch its self-driving commercial business in 2022 with vehicles based on the Ford Escape Hybrid crossover, CNBC's Michael Wayland reports. The vehicles are the automaker's fourth-generation self-driving test vehicles in partnership with Argo AI, a Pittsburgh-based autonomous vehicle start-up. Ford and Volkswagen (VWAGY) split an 80% majority stake in the company earlier this year, the author notes. Ford said the vehicles will begin testing this month alongside its current fleet of roughly 100 autonomous test vehicles that are based off the Fusion Hybrid sedan, which the company is no longer producing. Reference Link
Volkswagen evaluating interest in potential sale of Ducati brand, Reuters says » 12:2910/2010/20/20
Volkswagen is holding…
Volkswagen is holding preliminary discussions with potential suitors for its Ducati brand to evaluate interest in the motorcycle maker prior to a November planning round, Reuters' Pamela Barbaglia, Arno Schuetze and Jan Schwartz report, citing three people familiar with the matter. Amid a five-year planning round, the automaker will review the future of its Ducati brand as well as its sports car brands Lamborghini and Bugatti as part of a broader aim for more economies of scale as it moves to mass producing electric vehicles. Reference Link
Volkswagen gauging possible interest in sale of Ducati brand, Reuters reports 12:2110/2010/20/20
JPMorgan Euro/US pharma/biotech analysts hold analyst/industry conference call » 10:0810/2010/20/20
BIIB, NOVN, RHHBY, IONS
European Pharma &…
European Pharma & Biotech Analyst Vosser, US Large Cap biotech Analyst Kasimov and US SMid Biotech Analysts Fye & Joseph discuss the 2020 SMA Physician Survey on an Analyst/Industry conference call to be held on October 20 at 11 am.