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Fly News Breaks for February 26, 2020
Feb 26, 2020 | 07:07 EDT
Credit Suisse analyst Evan Seigerman raised his price target for Regeneron (REGN) to $510 from $420 while maintaining his Outperform rating on the shares and saying it remains his top pick for 2020. The analyst notes that recent reports from the American Society of Retina Specialists suggest that realworld usage of competitor Novartis' (NVS) Beovu could lead to vasculitis and potentially blindness caused by a more serious variant called occlusive retinal vasculitis. While still rare, with 14 cases of vasculitis out of 46k injections to date in the U.S., he thinks the headline risk and warning from the ASRS could be enough to significantly slow usage of Beovu in wAMD and eventual usage in other eye conditions, including DR, DME, and RVO. Given the long-term safety record of Regeneron's Eylea and comparable efficacy profile, Seigerman believes clinicians will opt to use Eylea as their mainstay treatment going forward.
News For REGN;NVS From the Last 2 Days
Jun 5, 2020 | 14:11 EDT
Preliminary research involving 19 patients shows signs that AstraZeneca's (AZN) blood cancer drug Calquence may help hospitalized COVID-19 patients get through the worst of the disease, Reuters reported, citing results in a paper co-authored by the drugmaker's head of oncology research. The executive, Jose Baselga, told Reuters: "These patients were in a very unstable situation, they would have had a dire prognosis ... Within one to three days the majority of these patients got better in terms of ventilation and oxygen needs." Other autoimmune disease drugs that are being tested for their ability to combat the over-reaction of the immune system, known as "cytokine storm," that is seen in severe COVID-19 cases include Regeneron (REGN) and Sanofi's (SNY) Kevzara, Roche's (RHHBY) Actemra and Morphosys (MOR) and GlaxoSmithKline's (GSK) otilimab, the report noted. Reference Link