NEW YORK, NY / ACCESSWIRE / October 24, 2017 / It's been an encouraging week for the Car-T arena with Gilead's Yescarta receiving FDA approval last week. Shares of Juno Therapuetics announced last week that it has signed a licensing agreement to use Trianni's Transgenic Mouse Platform. Shares of PetMed Express also soared as much as 27% after beating estimates with its earnings report.
RDI Initiates Coverage on:
Juno Therapeutics, Inc.
PetMed Express, Inc.
Juno Therapeutics, Inc. shares closed up 3.25% on nearly 2.8 million shares traded. Though there wasn't any significant news from the company yesterday, last week Juno announced that it has entered into a license agreement for the Trianni Mouse, a best-in-class monoclonal antibody discovery platform. Juno's Chief Scientific Officer Hy Levitsky commented, "The Trianni Mouse offers an in vivo platform for generating a diverse human antibody response to tumor targets of interest." The device will be used with Juno's proprietary high throughput, single-cell sequencing technology and direct-to-CAR screening to rapidly identify fully-human binders for conversion to chimeric antigen receptors in its engineered T cell programs. Trianni Chief Business Officer Dr. David Meininger commented, "TRIANNI is pleased to bolster Juno's lead generation capabilities through a license to The Trianni Mouse. We are confident that Juno's deep expertise in developing engineered T cells will potently synergize with the industry-leading human antibody repertoires provided by The Trianni Mouse."
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PetMed Express, Inc. shares exploded on Monday, closing the day up 18.15% on volume roughly six times higher than usual. It was a day of celebration for the pet medicine provider after it reported quarterly earnings that beat estimates. Shares were even up as much as 27% during intra-day trading after PetMed Express reported revenue of $66.7 million and adjusted EPS of 43 cents per share. Revenue was up 10% from the year-ago period while EPS was up a whopping 79% from the year-ago period. Both numbers beat what analysts were waiting for. The Street expected EPS of 30 cents and revenue of $63 million. PetMed CEO Menderes Akdag commented, "The trend we have seen in the last two quarters continued with increases in both new order and reorder sales during the quarter, along with an accelerated increase to net income for the third consecutive quarter." The company said that its average order value moved from $82 in the quarter a year ago to $85 in this quarter.
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