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The Zacks Analyst Blog Highlights: Incyte, Celldex, Bristol-Myers, AstraZeneca and Halozyme

Zacks Equity Research

For Immediate Release
Chicago, IL – May 22, 2014 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Incyte (INCY-Free Report), Celldex (CLDX-Free Report), Bristol-Myers (BMY-Free Report), AstraZeneca (AZN-Free Report) and Halozyme (HALO-Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Wednesday’s Analyst Blog:

Biotech Stock Roundup

With the annual American Society of Clinical Oncology (TATD) meeting round the corner, several companies are gearing up to present data at the conference. Last week, quite a few companies presented abstracts of data that will be discussed at ASCO. While companies like Incyte (INCY-Free Report) saw a decline in their share price following the presentation of abstracts, others like Clovis saw their share price surging.

Celldex (CLDX-Free Report) Soars on Bristol-Myers (BMY-Free Report) Deal: Celldex is collaborating with Bristol-Myers Squibb for the development of varlilumab and Bristol-Myers’ nivolumab in a phase I/II study. This deal marks the growing interest in the field of immuno-oncology.

With this deal, Celldex is gaining a strong partner in the form of Bristol-Myers, a company with expertise in the field of immuno-oncology. Moreover, the deal terms look favorable – sharing of development costs and more importantly, the restructuring of the Medarex agreement. Additionally, Celldex has the freedom to explore varlilumab with other important mechanisms outside this collaboration. So no surprise that Celldex’s shares shot up 26.9% on the news.

Celldex will also be at ASCO with phase I data on varlilumab.

Incyte Ties Up with AstraZeneca (AZN-Free Report): Celldex was not the only one to tie up with a large-cap company last week targeting the lucrative immuno-oncology field. Incyte and AstraZeneca are also collaborating for a phase I/II study that will evaluate the efficacy and safety of AstraZeneca’s MEDI4736 in combination with Incyte’s INCB24360 in cancer patients.

Halozyme (HALO-Free Report) Up on DMC Recommendation: Halozyme gained 6.9% on news that the Data Monitoring Committee (:DMC) has recommended that a mid-stage study on experimental cancer treatment, PEGPH20, currently on clinical hold, may proceed with some modifications. While the news is encouraging, the FDA is yet to lift the clinical hold. Halozyme has provided this information to the agency requesting it to withdraw the clinical hold on the study.

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

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