|Bid||118.06 x 1000|
|Ask||118.11 x 1100|
|Day's Range||117.43 - 118.27|
|52 Week Range||100.22 - 122.53|
|PE Ratio (TTM)||4.11|
|Expense Ratio (net)||0.47%|
Shares of G1 Therapeutics Inc. dropped 8% in active morning trade Wednesday, after the biopharmaceutical company announced the pricing of its common stock offering at a discount. Trading volume topped 800,000 shares, compared with the full-day average of about 195,600 shares. The company said overnight that its 3 million share offering, which represents about 9% of the shares outstanding, at $60 a share, which was 4.7% below Tuesday's closing price of $62.94, to raise $180 million. Despite the decline, the stock has nearly tripled (up 192%) year to date, while the iShares Nasdaq Biotechnology ETF has gained 10% and the S&P 500 has climbed 8.7%.
Shares of Molecular Templates Inc. soared 44% in premarket trade Wednesday, after the developer of cancer treatments announced a joint-development partnership with Japan-based Takeda Pharmaceutical Co. Ltd. . The companies will develop CD38-targeted toxin bodies for the treatment of multiple myeloma. Under terms of the agreement, Takeda will make an upfront payment of $30 million, and Molecular Templates will be eligible to receive up to $632.5 million in milestone payments if the company exercises its co-development option, or up to $337.5 in payments if the option is not exercised. The stock has tumbled 59% year to date through Tuesday, while the iShares Nasdaq Biotechnology ETF has gained 10% and the S&P 500 has tacked on 8.6%.
Gritstone Oncology disclosed Monday it has set terms for its initial public offering that is expected to raise up to $91.1 million. The developer of tumor-specific cancer immunotherapies will offer 6.07 million shares in its IPO, which is expected to price between $13 to $15 a share. At $15 a share, the company would have a market capitalization of $423.5 million. If the underwriters exercise all of the options granted to buy additional shares, the company could raise up to $104.7 million. The company plans to use the proceeds from the IPO to fund its planned phase 1/2 clinical trial of GRANITE-001, continued fuildout of its manufacturing facility, research and development, such as preclinical activities for SLATE-001 and general corporate activities. Gritstone has applied to list its shares on the Nasdaq Global Market under the ticker symbol "GRTS." Goldman Sachs, Cowen and Barclays are the lead underwriters. For 2017, the company recorded a net loss of $41.4 million, compared with a loss of $18.8 million in 2016. The company is looking to go public at a time that the Renaissance IPO ETF has lost 2.3% over the past three months, while the iShares Nasdaq Biotechnology ETF has rallied 5.9% and the S&P 500 has gained 4.5%.
Realm Therapeutics PLC said Monday it has hired MTS Health Partners LP as an adviser as part of its strategic review that may include the potential sales of the company. The stock was inactive in premarket trade prior to a trading halt, which will be lifted at 7:30 a.m. ET. The decision to launch a strategic review followed results of a phase 2 trial of its Atopic Dermatitis treatment, which did not meet its threshold for continued investment. The company as decided to discontinue all of its drug development programs. Realm said it has implemented a cost cutting measures including a "significant reduction in headcount" to preserve capital. The company is now considered to be in a "offer period," as any discussions with third parties may be conducted in a "formal sale process" context. The stock has tumbled 69% month to date through Friday, while the iShares Nasdaq Biotechnology ETF has lost 3.6% and the S&P 500 has inched up 0.1%.
On September 13, Neurocrine Biosciences’ (NBIX) stock price closed at $120.88—an ~0.65% decline from its close of $121.67 the previous day. On September 13, Neurocrine Biosciences’ stock price closed at $120.88, which is ~116% growth from its 52-week low of $55.95 on September 19, 2017.
Just as Bluebird Bio (NASDAQ:BLUE) started gaining traction in the markets in August, the stock erased all those gains since the start of September. And the month is hardly over. Why did BLUE stock fall 12% last week when the company did not issue any news that would explain what changed, fundamentally?
All three major biotechnology ETFs—the SPDR S&P Biotech ETF (XBI), the iShares NASDAQ Biotechnology Index (IBB), and the ProShares Ultra Nasdaq Biotechnology ETF (BIB)—have posted returns of ~1% in last month, starting on August 10. That compares unfavorably with the performance of the SPDR S&P 500 ETF (SPY), which returned ~1.7% in the same period.
Shares of Vivus Inc. rallied 6.6% to trade above the $5 mark in volatile morning trade Tuesday, after the biopharmaceutical company's 1-for-10 reverse stock split went into effect. The stock has been down as much as 12% at a split-adjusted intraday low of $4.15 and up as much as 18% at a high of $5.58 since the open. The stock had closed Monday at 47 cents on a pre-split basis. Vivus Chief Executive John Amos had said it enacted the split because it determined it would position the company with the "appropriate liquidity associated with listing shares on a major U.S. exchange," which Amos said was "critical" for the execution of its strategic plan to return to profitability. One of the Nasdaq's requirements for continued listing is a minimum bid price of $1 for a company's stock. Vivus shares have tumbled 43% over the past three months, while the iShares Nasdaq Biotechnology ETF has gained 6.4% and the S&P 500 has tacked on 3.4%.
The "Options Action" traders share three options trading strategies to kick off the week. Mike Khouw and Carter Worth like the Oil Services ETF Dan Nathan recommends a risk reversal in Box Mike Khouw recommends a put spread in Twitter Trader disclosure: Dan Nathan is long XLF Sept put spread.
In the second quarter, Spectrum Pharmaceuticals (SPPI) generated net revenues of $24.2 million compared to $34.3 million in Q2 2017. In the first half of the year, Spectrum Pharmaceuticals reported net revenues of $54.7 million compared to $63.4 million in H1 2017.
When a biotech stock shoots up 37.5% on a day when most biotech stocks are dropping it’s certainly worth taking a look at. So what happened with Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR) stock? ARWR announced that it will present new clinical data at a World Gastroenterologists Summit, and the markets responded positively to encouraging clinical results from a Phase ½ trial for a drug treating hepatitis B virus infection.
On September 4, the European Commission approved the marketing authorization of Puma Biotechnology’s Nerlynx as extended adjuvant therapy for the treatment of adults with early-stage HER2-positive (hormone receptor-2 positive) breast cancer who completed previous adjuvant trastuzumab-containing therapy less than a year ago.
The biotech sector performed well in August, with the iShares Nasdaq Biotechnology ETF (NASDAQ: IBB) up almost 3.5% this week alone. Research by Raymond James indicates that in just the past week, biotech ...
In the second quarter, BioMarin Pharmaceutical (BMRN) reported revenues of $372.8 million compared to $317.4 million in Q2 2017, reflecting a ~17% YoY (year-over-year) growth. It reported net revenues of $746.3 million in the first half of 2018 compared to $621.2 million in the first half of 2017, reflecting a ~2% YoY growth.
Biotech stocks are hot and have rallied by 13% as measured by the iShares Nasdaq Biotechnology ETF ( IBB) since late May. The recent increase has helped the ETF rise by 14% for the year, beating the S&P 500's gain of 9%. Companies like Celgene Corp. ( CELG), Regeneron Pharmaceuticals Inc. ( REGN) and Incyte Corp. ( INCY) may rise by 10% or more in the coming weeks based on the technical charts, leading the charge higher. The Nasdaq Biotech ETF is breaking out as it rises above a long-term downtrend that has been in place since the summer of 2015.
Portola Pharmaceuticals (PTLA) reported net revenues of $4.0 million in the second quarter. PTLA posted net revenues of $3.8 million in the second quarter of 2017, reflecting ~6.0% YoY (year-over-year) growth. In the first half, Portola Pharmaceuticals reported net revenues of $10.7 million, compared to $8.9 billion in the first half of 2017.
The iShares NASDAQ Biotechnology Index Fund ETF ( IBB) broke out of a bullish pennant on 10-day high volume and is fast approaching a breakout of a larger and more significant cup-with-handle pattern. A move above Monday's high of $119.78 would signal a continuation of the bullish breakout, with the top of the handle of the cup-with-handle pattern at $120.06 well within range. Traders should watch for a decisive move above $120.06, preferably on higher volume, to trigger a breakout of the cup-with-handle pattern, and a daily close above that price level to confirm strength.
Today, the European Commission (or EC) approved the marketing authorization of Jazz Pharmaceuticals’ (JAZZ) Vyxeos. This authorization covers the treatment of adult individuals with newly diagnosed treatment-associated acute myeloid leukemia with myelodysplasia-related changes (or AML-MRC).
Exact Sciences (NASDAQ:EXAS) shares have bolted above both their 50-day and 200-day moving averages, rising nearly 30% in mid-day trading on Wednesday to return to the upper end of a three-month trading range. The company will next report results on Oct. 31, after the bell. When the company last reported on Aug. 1, a loss of 30-cents-per-share beat estimates by 3 cents on a 79% rise in revenues on a year-over-year basis.
Incyte’s (INCY) product portfolio includes the targeted therapies and immunotherapies for the treatment of oncology and non-oncology diseases.
While technology stocks tend to make the flashiest headlines, the health-care sector remains one of the most consistent outperformers. The top health-care exchange traded fund (ETF) by assets, the $18 billion Health Care Select SPDR ETF (XLV) has gained about 10% this year vs. 6% for the S&P 500 Index (SPX) And longer term, it’s up about 205% in 10 years vs. about 145% for the S&P 500. It’s no surprise, then, that investors closely follow these health-care funds and continue to invest plenty of funds in the leaders.
The healthcare sector and related ETFs have been among the best performing defensive plays this year as strong earnings and potential Trump administration actions on drug pricing drew greater investment ...