Gilead call volume above normal and directionally bullish » 13:4506/0406/04/20
Bullish option flow…
Bullish option flow detected in Gilead with 42,514 calls trading, 1.1x expected, and implied vol increasing over 3 points to 35.59%. Aug-20 87.5 calls and Jun-20 75 calls are the most active options, with total volume in those strikes near 8,700 contracts. The Put/Call Ratio is 0.16. Earnings are expected on July 30th.
SVB Leerink biotech analyst to hold analyst/industry conference call » 10:1106/0406/04/20
Biotech Analyst Porges…
Biotech Analyst Porges discusses Gilead (GILD) rating increase to Outperform from Market Perform due to Remdesivir sales and the recently announced collaboratoin with Arcus (RCUS) on an Analyst/Industry conference call to be held on June 4 at 11 am.
Gilead, Galapagos announce Week 52 results from Phase 3 FINCH 1, FINCH 3 studies » 06:1906/0406/04/20
Gilead Sciences (GILD)…
Gilead Sciences (GILD) and Galapagos NV (GLPG) announced Week 52 results from the Phase 3 FINCH 1 and FINCH 3 studies of filgotinib, an investigational, oral, selective JAK1 inhibitor, in adults with moderately to severely active rheumatoid arthritis, or RA. The data demonstrate sustained efficacy and a consistent safety profile with up to 52 weeks of filgotinib treatment across RA patient populations. The new data are among 15 abstracts on filgotinib in RA that will be presented at the European League Against Rheumatism, EULAR, European E-Congress of Rheumatology 2020. "Many people with RA struggle with uncontrolled symptoms that affect their daily lives. We are working to develop effective and well-tolerated treatment options that will make a difference in the lives of patients," said Mark Genovese, MD, Senior Vice President, Inflammation, Gilead Sciences. "These data add to the body of evidence supporting filgotinib as a potential treatment option for a range of RA patients."
Gilead, Zoom Video upgrades among today's top calls on Wall Street » 10:0506/0306/03/20
GILD, RCUS, ZM, COUP, OKTA, SHOP, DDOG, NIO, MAT, RCL, CCL, NCLH
Check out today's top…
Gilead upgraded to Outperform at SVB Leerink on remdesivir sales, Arcus deal » 08:1506/0306/03/20
As previously reported,…
As previously reported, SVB Leerink analyst Geoffrey Porges upgraded Gilead (GILD) to Outperform from Market Perform with a price target of $94, up from $85. His upgrade is based on the inclusion of his first revenue and profit contribution for remdesivir, and also incorporation of the product opportunities from the recently announced Arcus (RCUS) collaboration. The analyst forecasts remdesivir sales reaching an annual revenue peak of $7.7B in 2022. While Porges is initially forecasting sales of less $1B for the Arcus products, he believes this deal finally provides Gilead critical mass in oncology with a diverse and synergistic pipeline, and boosts his confidence for investing in the stock long-term.
Gilead upgraded to Outperform from Market Perform at SVB Leerink » 07:3106/0306/03/20
SVB Leerink analyst…
SVB Leerink analyst Geoffrey Porges upgraded Gilead to Outperform from Market Perform with a $94 price target.
Arcus Biosciences price target raised to $41 from $15 at Citi » 06:3706/0206/02/20
Citi analyst Yigal…
Citi analyst Yigal Nochomovitz raised the firm's price target on Arcus Biosciences (RCUS) to $41 from $15 and keeps a Buy rating on the shares. The collaboration with Gilead (GILD) adds "meaningful validation" to Arcus's immune oncology pipeline, Nochomovitz tells investors in a research note. The analyst believes Gilead's licensure of Arcus's PD-1 inhibitor zimberelimab and opt-in interest in AB154 and AB928 "demonstrates substantial confidence" in Arcus's pipeline.
Emergency use of Gilead's remdesivir approved in India, Reuters reports » 06:2206/0206/02/20
India's government has approved Gilead Sciences's antiviral drug remdesivir for emergency use in treating COVID-19 patients, Reuters' Anuron Kumar Mitra and Manas Mishra report. "[Remdesivir] approved on June 1 under emergency use with condition for five dose administration," the Drugs Controller General of India said in an email statement. Reference Link
Ligand working with Gilead to meet need for remdesivir » 16:5806/0106/01/20
Ligand Pharmaceuticals Incorporated (LGND) announces that Chief Executive Officer John Higgins issued a letter to Ligand's Captisol customers. "Ligand is in a period of momentous planning and scale-up. As you may know, Captisol is a key ingredient in Gilead Sciences' (GILD) antiviral remdesivir, which is being developed as a treatment for COVID-19. This drug has received an unprecedented amount of attention," Higgins said. "I want to update you as to where Ligand stands in fulfilling our commitment to all our Captisol customers and discuss our plans to increase manufacturing capacity. On behalf of the entire team at Ligand, I want you to know we are dedicated to fulfilling your Captisol needs with the highest level of service, reliability and quality." "In January 2020 Gilead informed us they needed Captisol for remdesivir as a potential treatment for COVID-19. That outreach was a natural development as we have had a relationship with Gilead for several years beginning when this drug was being tested for Ebola," Higgins added. "We were witnessing the novel coronavirus emerge as a real threat to public health, and as it became clear the virus was not going to be contained and the global health crisis became a pandemic, we anticipated Captisol demand was going to increase substantially. We immediately began coordination on the necessary planning for production needs as initial orders for Captisol were received and steadily grew. Clinical work with remdesivir in COVID-19 has been promising as studies indicate the drug reduces the length of hospital stay and may lower the mortality rate in patients with severe disease. On May 1 remdesivir received an Emergency Use Authorization from the U.S. Food and Drug Administration and became the first new drug authorized as a treatment for COVID-19. The medical need was obvious, immense and growing. Then on June 1, Gilead announced additional data in patients with moderate disease showing again that remdesivir has the potential to meaningfully benefit patients. We are working closely with Gilead to meet the urgent need for supply of this medicine. In light of Gilead's public statements, we expect their Captisol requirements will increase significantly over the next couple of years, and we expect orders beyond that. To meet global demand quickly, Gilead is establishing a consortium of generic pharmaceutical companies around the world to manufacture remdesivir. We have established initial agreements with four of those companies and are prepared to fill the full production and supply needs for all companies producing remdesivir."
Cantor Fitzgerald biopharma analysts to hold analyst/industry conference call » 16:3606/0106/01/20
CBAY, ICPT, GILD, NVO, LLY
Specialty Pharma Analysts…
Specialty Pharma Analysts Chen & Kim and Biopharma Analyst Folkes discuss the unment needs in the treatment of Type 2 Diabetes, NASH and Obesity, Novo's Rybelsus usage, Eli Lilly's Trulicity and Tirzepatide and a review of NASH treatments in development from Gilead, Novo, Intercept and CymaBay on an Analyst/Industry conference call to be held on June 5 at 11 am.