BioPharm Update: Reports that TESARO TSRO unl
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Posted On: 07/13/2017 10:36:36 PM
BioPharm Update:
Reports that TESARO TSRO unlikely to find buyer; AstraZeneca AZN rumors of departure of CEO
TESARO Inc (NASDAQ:TSRO) shares dropped sharply on the open to close down 7% to $129.13. Investors sold off shares following reports on CNBC that Tesaro is unlikely to find a buyer as it sought a sale of the company, contrary to prior reports:
"There is nothing imminent at all, the sources said. The expectation the company had in terms of price were not met by the incoming expressions of interest it got from potential bidders, according to the sources."
AstraZeneca plc (ADR) (NYSE:AZN) shares have been under pressure since late Wednesday following rumors of the departure of its CEO Pascal Soriot to Teva Pharmaceuticals (NYSE: TEVA). Rumors initially surfaced following a report made in Israeli newspaper Calcalist. As of the market close Thursday, no official word has been released by either party. Shares closed down 1.6% to $32.39.
Mylan N.V. (NASDAQ: MYL) announced that the FDA Oncologic Drugs Advisory Committee (ODAC) recommended approval of its proposed biosimilar Herceptin (trastuzumab), voting 16-0 in support of its recommendation.
ESSA Pharma Inc. (NASDAQ:EPIX) shares closed down 26% to $0.35 following its equity offering priced at $0.44 for a combination of shares and warrants.
Other Major price movers (stocks priced > $1.00, volume > 100k):
Refer to the BioPharmCatalyst Biotech Stocks page for Top 10 Gainers/Losers/Unusual Volume INCLUDING sub-$1 stocks.
ADVANCERS:
Pernix Therapeutics Holdings Inc (NASDAQ
TX): $4.76; +21%.
Alder Biopharmaceuticals Inc (NASDAQ:ALDR): $11.95; +18%.
Aralez Pharmaceuticals Inc (NASDAQ:ARLZ): $1.58; +16%.
Peregrine Pharmaceuticals (NASDAQPHM): $5.41; +13%.
MannKind Corporation (NASDAQ:MNKD): $1.32; +13%.
DECLINERS:
Matinas BioPharma Holdings Inc (NYSEMKT:MTNB): $1.45; -10%.
Catalyst Pharmaceuticals Inc (NASDAQ:CPRX): $2.85; -9%.
Diffusion Pharmaceuticals Inc (NASDAQ
FFN): $2.09; -8%.
ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC): $1.12; -7%.
Pieris Pharmaceuticals Inc (NASDAQIRS): $5.52; -7%.
Pipeline updates below:
DRUG STAGE CATALYST
TICKER: HALO
PEGPH20 and atezolizumab
Pancreatic cancer
PHASE 1/2 Phase 1b/2 open label trial initiation announced July 13, 2017.
TICKER: JNJ
Guselkumab
Plaque psoriasis
APPROVED Approval announced July 13, 2017.
TICKER: MYL
MYL-1401O - trastuzumab biosimilar
Trastuzumab biosimilar
PDUFA PDUFA date September 3, 2017. Advisory Committee Meeting July 13, 2017 voted 16-0 recommending approval.
TICKER: PFE
Xeljanz
Ulcerative colitis
PDUFA sNDA acceptance announced July 13, 2017. Exact PDUFA date not released by company. BioPharmCatalyst estimate March 13 using 8-month timeline.
View in browser »
Reports that TESARO TSRO unlikely to find buyer; AstraZeneca AZN rumors of departure of CEO
TESARO Inc (NASDAQ:TSRO) shares dropped sharply on the open to close down 7% to $129.13. Investors sold off shares following reports on CNBC that Tesaro is unlikely to find a buyer as it sought a sale of the company, contrary to prior reports:
"There is nothing imminent at all, the sources said. The expectation the company had in terms of price were not met by the incoming expressions of interest it got from potential bidders, according to the sources."
AstraZeneca plc (ADR) (NYSE:AZN) shares have been under pressure since late Wednesday following rumors of the departure of its CEO Pascal Soriot to Teva Pharmaceuticals (NYSE: TEVA). Rumors initially surfaced following a report made in Israeli newspaper Calcalist. As of the market close Thursday, no official word has been released by either party. Shares closed down 1.6% to $32.39.
Mylan N.V. (NASDAQ: MYL) announced that the FDA Oncologic Drugs Advisory Committee (ODAC) recommended approval of its proposed biosimilar Herceptin (trastuzumab), voting 16-0 in support of its recommendation.
ESSA Pharma Inc. (NASDAQ:EPIX) shares closed down 26% to $0.35 following its equity offering priced at $0.44 for a combination of shares and warrants.
Other Major price movers (stocks priced > $1.00, volume > 100k):
Refer to the BioPharmCatalyst Biotech Stocks page for Top 10 Gainers/Losers/Unusual Volume INCLUDING sub-$1 stocks.
ADVANCERS:
Pernix Therapeutics Holdings Inc (NASDAQ
TX): $4.76; +21%. Alder Biopharmaceuticals Inc (NASDAQ:ALDR): $11.95; +18%.
Aralez Pharmaceuticals Inc (NASDAQ:ARLZ): $1.58; +16%.
Peregrine Pharmaceuticals (NASDAQ
PHM): $5.41; +13%. MannKind Corporation (NASDAQ:MNKD): $1.32; +13%.
DECLINERS:
Matinas BioPharma Holdings Inc (NYSEMKT:MTNB): $1.45; -10%.
Catalyst Pharmaceuticals Inc (NASDAQ:CPRX): $2.85; -9%.
Diffusion Pharmaceuticals Inc (NASDAQ
FFN): $2.09; -8%. ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC): $1.12; -7%.
Pieris Pharmaceuticals Inc (NASDAQ
IRS): $5.52; -7%. Pipeline updates below:
DRUG STAGE CATALYST
TICKER: HALO
PEGPH20 and atezolizumab
Pancreatic cancer
PHASE 1/2 Phase 1b/2 open label trial initiation announced July 13, 2017.
TICKER: JNJ
Guselkumab
Plaque psoriasis
APPROVED Approval announced July 13, 2017.
TICKER: MYL
MYL-1401O - trastuzumab biosimilar
Trastuzumab biosimilar
PDUFA PDUFA date September 3, 2017. Advisory Committee Meeting July 13, 2017 voted 16-0 recommending approval.
TICKER: PFE
Xeljanz
Ulcerative colitis
PDUFA sNDA acceptance announced July 13, 2017. Exact PDUFA date not released by company. BioPharmCatalyst estimate March 13 using 8-month timeline.
View in browser »
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