Michael W. Aguiar - President and Chief Executive Officer:
"And then the last piece here we talked about was what we've called terminal value are staring to look at potentially things beyond the range of our current portfolio and that's really where Mike (Faerm) comes in.
The good news on the hiring and you talk about timing is we have plenty of time in front of us here. We have 14, 15, years left in front of us in terms of life from these programs. So there is no immediate urgency around doing a deal tomorrow morning. If the right deal came up we would certainly look at it."
"So, I would just say stay tuned we'll continue to look and be thoughtful about this like we always have in terms of the types of things we look at and the timing and all of that. These projects don’t happen overnight and it does take a period of time to get things up and running. So again I would say we don’t feel any pressure at all about getting a deal done. However if the right thing came up we will certainly take a prudent look at it. So we are pretty excited to have Mike on board and I would just say stay tuned but don’t expect something come out tomorrow morning." (seeking alpha)
Reuters today: GlaxoSmithKline Plc CEO Andrew Witty told analysts: * CEO says headline results of SUMMIT trial with Breo likely around Sept/Oct *
We look for things on sale, not clearance. GlaxoSmithKline [GSK] is a high-quality company on sale. It has underperformed because of very weak earnings momentum in the past few years, as its blockbuster respiratory drug Advair came off patent. The next five years look much more positive than the Street thinks.
What do you see in GlaxoSmithKline?
There are three ways the stock can move higher. First, the patent expirations are almost behind it, which will provide respite. Glaxo also recently swapped its oncology business for Novartis’ vaccine business. Glaxo’s existing vaccine business had estimated stand-alone margins of 35%, but Novartis’ was losing money. Now that Glaxo owns it, they can improve the margins, providing earnings growth. The third avenue is its consumer business, which includes things like Aquafresh toothpaste. It was poorly managed, but the company recently brought in new management from L’Oréal to run it. Plus, it is so out of favor, and earnings estimates have come down so much, Glaxo has limited downside, especially with a 6% dividend yield that is unlikely to be cut.
AAVL is SO oversold!!! Let's not forget that it was $48 and change AH after last week's news release before it reversed and headed straight down. Most, if not all, the margin calling selling is done. What a gift to new investors at these price levels!!
Piper Jaffray analyst Joshua Schimmer weighed in today with his views on Avalanche Biotechnologies Inc (NASDAQ:AAVL) after the company reported its highly anticipated results of the P2a for gene therapy AVA-101 for treatment of wet AMD (age-related macular degeneration) yesterday after market close. Schimmer reiterated an Overweight rating on the stock with a price target of $52.00, which represents a potential upside of 34% from where the stock is currently trading.
Schimmer noted, “Overall, it’s still early, but the data is largely in line with our expectations, showing what we believe is real biological activity in a subset of responders with a meaningful reduction in injection frequency, along with improvements in BCVA, but also with plenty of room for improvement. Our overall positive outlook for AAVL looks beyond this data and towards its expanding gene therapy pipeline and vector evolution strategy, which is underappreciated in our view.”
Furthermore, “While many have expressed disappointment in management’s handling of the results release and call, there is only so much they could do with an early limited dataset; don’t hate the player, hate the game. We recommend jets be cooled and the company be given the opportunity to hone in on a group of wet AMD patients most likely to respond to ‘101 therapy in the upcoming P2b trial and to further analyze these P2a results.”
People have forgotten that this was a 'safety 'trial and a modest one at that in two australian centers. P2b which is to be conducted in many validated clinicall centers should yield more robust data.
This from a blog post on seeking alpha:
"Pharma Investor , contributor
The OCT data does not jive with the reported vision results. Did the control group experience a lot of atrophy to account for thinning and worse vision? Retinal thickening (as in the AVA-101 group) would typically lead to worse vision, not better.
I'm still looking into this study, but doesn't feel right from what I've seen reported so far. Need to see what exactly criteria for "rescue" injections were. "
There is usually a correlation between structure and function- the OCT (structure) does not match the visual improvement (function). The detailed OCT analysis that is underway may shed more light.
"evaluation of SD-OCT images by an image reading center are ongoing" according to AAVL and that could potentially be a catalyst. Amid all the noise of the past few days, the fact that the Phase 1 36-month follow-up data demonstrated continued safety and tolerability, has been forgotten. A Regeneron partnership is another potential catalyst, so is the detailed data from the study that will be reported at a medical meeting . Lots to like! A good speculative buy at these levels, IMO!
Also, Empyrean Capital Partners Lp also increased its stake in Theravance Inc (THRX) by 7.15% to $28.30 million.
go to octafinance for more details
By Gene Guzun in Hedge Funds, News
Published: May 22, 2015 at 7:59 pm
The Baupost Group also did not make changes to its equity stake in Theravance Inc. (NASDAQ:THRX) maintaining its 19.82 million share position, valued at $311.51 million. Despite the fact that shares of Theravance have achieved a rise of more than 15% since the beginning of the year, it is expected that the stock price could go even higher, as the U.S. Food and Drug Administration approved BREO® ELLIPTA® for the treatment of asthma on April 30. Additionally, the company has recently announced a $0.25 cash dividend that will be paid at the end of June and amounts to a solid 6.01% yield, which undoubtedly signals that the company is currently in good financial health. Some other funds bullish on Theravance Inc. (NASDAQ:THRX) include Youlia Miteva’s Proxima Capital Management and Richard Perry’s hedge fund Perry Capital.
On May 20, 2015, at the Annual Congress of the American Thoracic Society in Denver, Colorado, GlaxoSmithKline (GSK) presented a poster containing information from a post hoc analysis of the ZEP117115 trial (NCT01777334), a 24-week, randomized, parallel-group study of once-daily, inhaled UMEC/VI 62.5/25 mcg (delivering 55 mcg and 22 mcg respectively) compared with tiotropium 18 mcg (delivering 10 mcg). The poster is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. UMEC/VI has been developed under the LABA collaboration agreement between GSK and Theravance, Inc.
According to the SEC filing after the close:
In the 6-month ZEP117115 trial(6) in moderate-to-very severe patients with COPD, a priori analyses demonstrated sustained increases in efficacy with UMEC/VI versus TIO.
· In this post hoc analysis of data from this trial, dual bronchodilation with UMEC/VI reduced the risk of a first and sustained CID and each of the components, i.e. a decrease in trough FEV 1 , increase in SGRQ total score and a moderate/severe exacerbation versus TIO.
· UMEC/VI also reduced the risk of a first and sustained CID in both GOLD subgroups and in patients with and without concurrent ICS therapy compared with TIO.