|Bid||36.00 x 2900|
|Ask||36.00 x 3200|
|Day's Range||35.88 - 36.49|
|52 Week Range||27.88 - 44.56|
|Beta (5Y Monthly)||0.69|
|PE Ratio (TTM)||12.86|
|Earnings Date||Jul 27, 2020 - Jul 31, 2020|
|Forward Dividend & Yield||1.52 (4.22%)|
|Ex-Dividend Date||May 07, 2020|
|1y Target Est||40.46|
Amid the coronavirus-fueled market downturn -- and the economic troubles that have followed -- many companies have slashed or outright suspended their dividend payments, much to the dismay of income-seeking investors. Two such businesses are healthcare giants AbbVie (NYSE: ABBV) and Pfizer (NYSE: PFE). Here's why dividend investors should love both of these stocks.
If you want to bet on cutting-edge vaccine development but don't want the risk that comes with investing in a clinical-stage biotech company, you can opt for Pfizer (NYSE: PFE). The big pharma company partnered with BioNTech (NASDAQ: BNTX) to advance the German biotech company's investigational messenger RNA (mRNA) coronavirus vaccine program. Pfizer and BioNTech have started human testing later than rivals such as Moderna (NASDAQ: MRNA) -- also working on an mRNA vaccine -- or Inovio Pharmaceuticals (NASDAQ: INO).
Stunning employment data fed into growing optimism about cities and states relaxing the coronavirus-related restrictions that have hobbled activity and crushed the jobs market.
Lilly (LLY) begins phase I study on a potential COVID-19 antibody therapy. FDA grants label expansion approvals to several drugs.
The Bill and Melinda Gates Foundation is pledging $1.6 billion to a global organization that provides vaccines to children in the poorest countries.
The candidates belong to five companies, Moderna, AstraZeneca, J&J, Merck and Pfizer.
Five companies have now been picked by the Trump administration as the most likely candidates to produce a coronavirus vaccine, The New York Times reports.This comes as part of Operation Warp Speed (OWS), the administration’s national program to accelerate the development, manufacturing, and distribution of COVID-19 vaccines, therapeutics, and diagnostics.Among its other objectives, Operation Warp Speed aims to have substantial quantities of a safe and effective vaccine available for Americans by January 2021.The five companies selected are as follows:Moderna’s (MRNA) mRNA1273 which is currently undergoing Phase 2 trials;A joint collaboration between AstraZeneca (AZN) and Oxford University on AZD1222 which is now in clinical trials at multiple UK sites;Johnson & Johnson (JNJ) which plans to start a Phase 1 clinical trial in September with an ultimate goal of supplying more than one billion doses of its coronavirus vaccine globally;Merck (MRK) which is trying to develop a vaccine using similar technology to its successful Ebola vaccine through a partnership with non-profit research organization IAVI, and;Pfizer (PFE) is working with German drugmaker BioNTech (BNTX) on clinical trials of BNT162, with plans to have a vaccine ready by the end of October, and produce “hundreds of millions” of doses in 2021.GlaxoSmithKline and Sanofi did not make the cut.On May 15 Operation Warp Speed revealed plans to select the most promising countermeasure candidates and provide coordinated government support to support their development.Large-scale randomized trials for the demonstration of safety and efficacy will proceed for three to five of the candidates, with as many as 150,000 people vaccinated if all five vaccine candidates reach the Phase 3 stage.Indeed, Congress has directed almost $10 billion to this effort through supplemental funding, including the CARES Act, with $3 billion directed for NIH research.“Vaccines are coming along really well,” President Trump told the Twittersphere on Tuesday. “Moving faster than anticipated. Good news ahead.”Shares in Moderna have exploded over 200% year-to-date, and optimism continues to rise after the company recently announced that it has started dosing the first patients in a Phase 2 study with its experimental mRNA-1273 vaccine candidate.The Phase 2 study, being conducted by Moderna under its own Investigational New Drug (IND) application, seeks to evaluate the safety, reactogenicity and immunogenicity of two vaccinations of mRNA-1273 given 28 days apart. The biotech company plans to enroll 600 healthy participants across two cohorts of adults ages 18-55 years and older adults ages 55 years and above.Earlier this month, Moderna reported “positive” interim clinical data saying that the Phase 1 study of its mRNA-1273 vaccine candidate produced antibodies that would be able to “neutralize” the virus in patients. The company reiterated plans to start the Phase 3 trial in July, subject to the finalization of the clinical trial protocol.Five-star analyst Cory Kasimov at J.P. Morgan recently reiterated a Buy rating on the stock, saying “How to appropriately capture this in MRNA’s valuation is a tough question to answer (especially given all the unknowns around COVID-19 and the ultimate opportunity) and one that we suspect will be a key investor debate going forward.”Overall, Wall Street analysts are bullish on Moderna stock with 10 Buy and 2 Hold ratings giving it a Strong Buy consensus. Despite the recent rally, the $89.33 average price target still indicates 50% upside potential from current levels. (See Moderna stock analysis on TipRanks).Related News: Gilead Sinks 3% On New Remdesivir Data; Analysts Stay Sidelined Pfizer Loses 6% On Disappointing Ibrance Breast Cancer Outcome Novavax Seeks To Make 1 Billion Covid-19 Vaccine Doses More recent articles from Smarter Analyst: * Micron's Growth Story Remains Intact, Says Analyst * Aurora Cannabis (ACB): The Stock Is Too Hot on U.S. CBD Entry * Billionaire Jim Simons Snaps Up These 3 Penny Stocks * Novavax Surging On $60M Funding For Covid-19 Vaccine Candidate
The global economy is slowly emerging from lockdowns enacted to beat back the coronavirus. The pandemic isn't going anywhere, however, and hopes of a return to a semblance of normal rest heavily on the speedy development of vaccines against SARS-CoV-2, the virus that causes COVID-19.Fast-Tracking Vaccine Programs Vaccine development typically takes about 10-15 years, as it has to go through the same general pathway as that of drugs and biologics. With the advent of new classes of vaccines such as DNA and mRNA vaccines, development timelines could be tightened relative to traditional vaccines.Pandemics in recent history such as the MERS and SARS, also caused by coronaviruses, set in motion several R&D programs that have come in handy in today's scenario, as the new coronavirus shares 80% of its traits with its predecessors.Public-private partnerships have been forged to expedite vaccine programs. In mid-April, the National Institutes of Health announced a co-operative framework involving several biopharma companies, the Health and Human Services Office of the Assistant Secretary for Preparedness and Response, the CDC, the FDA and the European Medicines Agency for expediting drug and vaccine research. Federal agencies have extended funding for companies with promising vaccine candidates in their pipeline, and this has given them the freedom to focus on research without having to worry about finances.The U.S. government recently launched the "Operation Warp Speed" project, which has among its objectives ensuring the availability of substantial quantities of a safe and effective vaccine for Americans by January 2021.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.US Government Backs 5 Vaccine Candidates In order to narrow the focus on the most deserving vaccine candidates, the Trump administration has shortlisted five from a crowded field and will likely make an announcement in this regard in the next few weeks, the New York Times reported.The shortlisted companies are, according to the Times: * Moderna Inc (NASDAQ: MRNA) * The Oxford University/AstraZeneca plc (NYSE: AZN) combination * Johnson & Johnson (NYSE: JNJ) * Merck & Co., Inc. (NYSE: MRK) * Pfizer Inc. (NYSE: PFE)Incidentally, Merck was a late entrant in the vaccine race, with the pharma giant announcing partnerships and deals to develop COVID-19 treatments and vaccines only recently.10 Vaccine Candidates In Clinics, 123 More In Labs A June 2 document from the World Health Organization showed that 10 vaccine candidates are in the clinics and 123 more are being evaluated in animal studies. Among the 10 vaccine candidates being tested in human studies, five are developed by Chinese firms or institutions. Here's an update on the 10 vaccines in the clinics:University Of Oxford/AstraZeneca The vaccine developed by the University of Oxford in collaboration with AstraZeneca was codenamed ChAdOx1 nCoV-19, a weakened version of a common cold virus that causes infections in chimpanzees.It has been genetically modified to make to prevent it from replicating in humans. After the university tied up with AstraZeneca, the vaccine candidate was renamed as AZD1222. AZD1222 is in a Phase 2/3 trial, with the university enrolling participants for the study in late May.Results from an ongoing Phase 1/2 trial could be available in mid-June; a university official was quoted as saying mid-May. AstraZeneca has received over $1 billion in BARDA funding for the development, production and delivery of the vaccine starting this fall.In late May, Adrian Hill, one of the lead investigators of the vaccine program, suggested the vaccine has only a 50% chance of succeeding, as the viral incidence receded in the community.Moderna Moderna, which is collaborating with NIAID for developing an mRNA vaccine, codenamed mRNA-1273, said recently it has dosed the first participant in a Phase 2 trial. The company also released interim data for its vaccine candidate from a NIAID-sponsored Phase 1 study, which showed dose-dependent increases in immunogenicity between prime and boost within the 25-microgram and 100-microgram dose levels. Moderna has prepped for scaling by forming an alliance with Swiss CDMO Lonza.See also: Inovio Analyst Watches Coronavirus Play 'From The Sidelines'CanSino Biological Inc./Beijing Institute of Biotechnology CanSino, which was the first to begin vaccine testing, announced last week the publication of Phase 1 data of its vaccine candidate Ad5 that showed most people developed immune responses.Yet he number of people developing neutralizing antibodies -- the ones that count for preventing infection -- was 75% among those who received the high dose and 50% among those who received the medium or low dose.A Phase 2 study of Ad5 was started in April and is underway. Ad5 is a genetically engineered adenovirus that delivers the gene encoding the spike protein of the SARS-CoV-2 into human cells.Wuhan Institute of Biological Products/Sinopharm The combo's vaccine candidate entered Phase 2 trials April 24, according to Xinhua. The Phase 1 trial is ongoing, the report said at that time. Sinopharm, one of the partners, seemed to suggest it will take one year of evaluation to determine the efficacy and safety of the inactivated vaccine candidate.Sinovac Sinovac, which began working on an inactivated vaccine candidate in January, said recently it is 99% confident in its vaccine candidate, codenamed CoronaVac. The candidate is in a Phase 1/2 trial. The company recently received $15 million in funding from private investors in lieu of a stake in the company.Novavax Novavax, Inc. (NASDAQ: NVAX) identified its vaccine candidate, codenamed NVX-CoV2373, in early April. The vaccine candidate is a stable prefusion protein made using the company's proprietary nanoparticle technology, with Matrix-M adjuvant incorporated to enhance the immunity response of the vaccine.The company said May 25 it enrolled the first participant in the Phase 1 portion of a Phase 1/2 study it has initiated, with results from the Phase 1 portion expected in July. In mid-May, the company announced an award of an incremental $384 million in funding by the Coalition for Epidemic Preparedness Innovations. On Wednesday, AGC Biologics said it has been tasked with manufacturing Matrix-M adjuvant by Novavax.Beijing Institute Of Biological Products/Sinopharm State-affiliated Beijing Institute of Biological Products, which is developing an inactivated vaccine in a Phase 1/2 trial, has started the Phase 2 trial, a post on the WeChat account of the Chinese state-owned Assets Supervision and Administration Commission said. Pfizer/BioNTech Pfizer is collaborating with German biopharma BioNTech SE - ADR (NASDAQ: BNTX) for vaccine development. BioNTech is evaluating four vaccine candidates in its BNT162 program. These are mRNA vaccines combined with a lipid nanoparticle formulation. BNT162 is being tested in separate Phase 1/2 trials in Europe and the U.S. Pfizer will be vested with the responsibility of scaling up at risk.Institute Of Medical Biology, Chinese Academy Of Medical Sciences In mid-May, the institute received approval for commencing a Phase 1 study.Inovio Inovio Pharmaceuticals Inc (NASDAQ: INO), which is developing a DNA vaccine codenamed INO-4800, said in its May 11 earnings release it has completed enrollment in a Phase 1 study.It anticipates commencing a Phase 2/3 efficacy trial in summer, subject to regulatory approval. Inovio has received funding from the CEPI as well as the Bill & Melinda Gates Foundation.Among others, J&J, which has identified a lead vaccine candidate, plans a clinical study by September. The company expects the first batches of a vaccine to be available for emergency use authorization by early 2021.Several other companies are also in the fray, including Sorrento Therapeutics Inc (NASDAQ: SRNE), Regeneron Pharmaceuticals Inc (NASDAQ: REGN) and Sanofi SA (NASDAQ: SNY).Related Link: These 6 Coronavirus Vaccine Candidates Are The Likeliest To Succeed, Says Morgan Stanley See more from Benzinga * The Daily Biotech Pulse: Regulatory Delay For Novartis' Multiple Sclerosis Drug, FSD Gets Nod For COVID-19 Study * The Daily Biotech Pulse: FDA Nod For Roche's Combo Therapy In Liver Cancer, Allena Rips Higher, Pfizer To Invest Up To 0M In Biotechs * Attention Biotech Investors: Mark Your Calendar For June PDUFA Dates(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Pfizer Inc. (NYSE: PFE) announced today that JAMA Dermatology has published complete results from the second Phase 3 monotherapy pivotal study (JADE MONO-2) of abrocitinib, an investigational oral once-daily Janus kinase 1 (JAK1) inhibitor, in patients aged 12 and older with moderate to severe atopic dermatitis (AD). Consistent with the first Phase 3 monotherapy study (JADE MONO-1), both doses of abrocitinib met all co-primary and key secondary endpoints and were generally well tolerated.
The GAVI vaccines alliance is to launch an Advance Market Commitment (AMC) for future COVID-19 vaccines which it says will help secure access to the new shots for poorer countries. The AMC mechanism should provide incentives to vaccine manufacturers to invest in large scale production capacity even as they develop new products and before full-scale trials have shown whether they work, GAVI's chief executive officer Seth Berkley told Reuters. In return GAVI will agree to buy large quantities of vaccines at established and equitable prices to ensure initial doses are not immediately snapped up by rich countries.
The Zacks Analyst Blog Highlights: Pfizer, Comcast, salesforce.com, Costco Wholesale and BHP Group
The company's share price has nearly tripled since its IPO less than two months ago. Is it too late to get in on the fun?
Dozens of drugmakers are developing COVID-19 vaccines and gearing up to produce billions of doses each year.
Meanwhile, there are now over 100 experimental vaccines being investigated worldwide targeting the SARS-CoV-2 coronavirus, which causes COVID-19. Out of this candidate pool, only 10 vaccines have made it to the clinical or preclinical stages. Today, let us look at two companies investigating SARS-CoV-2 vaccines in current or upcoming clinical trials, and determine which one is a better buy.
The number of Americans with confirmed case of the coronavirus that causes COVID-19 climbed above 1.8 million on Tuesday, amid concerns that protests about the death of George Floyd last week, and people gathering in groups as lockdowns are lifted, will spark a fresh wave of infections.
Apple (NASDAQ: AAPL) is a great stock to own, but the one area where it may be a bit underwhelming is its dividend. Pfizer (NYSE: PFE) is a drug manufacturer with sales all over the world. The New York-based company may not generate the level of long-term growth that you may expect from a top tech stock like Apple, but it can make for a stable, consistent dividend stock to hold in your portfolio.
The Zacks Analyst Blog Highlights: Pfizer
The Zacks Analyst Blog Highlights: Exxon Mobil, Verizon Communications, Chevron, Pfizer and 3M Company
Pfizer Inc. (NYSE: PFE) invites investors and the general public to listen to a webcast of a discussion with Albert Bourla, Chairman and Chief Executive Officer, at the Goldman Sachs 41st Annual Global Healthcare Conference on Tuesday, June 9, 2020 at 1:20 p.m. EDT.
Benchmarks closed in the green on Monday as signs of economic rebound overshadowed civil unrest amid coronavirus pandemic and rising U.S.-China tensions.
Pharmaceutical stocks were early winners off the market’s March bottom, but they have lagged behind the peppy tape lately.
White House Coronavirus Task Force lead member Anthony Fauci in an interview with STAT on Monday said he was disappointed with the way Moderna Inc. (NASDAQ: MRNA) chose to publish data from phase 1 clinical trial of its novel coronavirus (COVID-19) vaccine.What Happened "I didn't like that," the National Institute of Allergy and Infectious Diseases director told STAT.Fauci said the vaccine maker should have waited to get the complete data from the first phase of the study and publish it in a "reputable journal.""But the company, when they looked at the data, as all companies do, they said, wow, this is exciting. Let's put out a press release," he added.According to Fauci, the complete data is "quite similar" to the snippet Moderna published in the press release, and gives a reason to be "cautiously optimistic.""The initial data look very promising from the neutralizing antibody standpoint," the NIAID director told STAT.On other vaccines under development, Fauci said that Pfizer Inc.'s (NYSE: PFE) COVID-19 vaccine is very similar to that of Moderna's candidate, and there's no reason to believe that the results of its candidate will be any different."It's an mRNA vaccine. I'm sure that Pfizer is going to get results that are as good as the Moderna vaccine," he told STAT.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Why It Matters Moderna last week started the phase 2 clinical trial of its COVID-19 vaccine and is expecting to move to phase 3 in July.Several vaccine experts have cast doubt on the efficiency of Moderna's vaccine, as earlier reported by STAT, saying what the company published "were words, not data."Moderna Price Action Moderna shares closed 1.1% higher at $62.18 on Monday.See more from Benzinga * Novavax Begins Phase 1 Clinical Trial Of Its Coronavirus Vaccine * Moncef Slaoui To Divest Moderna Stake As He Joins White House Vaccine Accelerator * Moderna To Raise .3B In A Public Offering As Coronavirus Vaccine Trials See Progress(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
U.S. drugmaker Pfizer Inc. (PFE) on Wednesday announced an initiative to invest up to $500 million in biotechnology companies to help provide funding for the industry’s most promising clinical development programs.The investment, which will be channeled through the establishment of the so-called Pfizer Breakthrough Growth Initiative, also seeks to ensure the continuity of the biotechs’ clinical development programs, the company said in a statement.“There has never been a more important moment to pursue new collaborations in our industry," said Pfizer's Chief Business Officer John Young. “The Pfizer Breakthrough Growth Initiative seeks to do just this by injecting crucial capital into biotechnology companies that share our commitment to delivering transformative therapies for patients.”The initiative will focus on making non-controlling equity investments in clinical-stage public companies. The primary focus will be on companies with small- to medium-sized market capitalizations across a range of therapeutic categories that are consistent with Pfizer’s core areas of focus: internal medicine, inflammation & immunology, oncology, rare disease, and vaccines.Potential partner companies will get access to Pfizer’s expertise and resources in research, clinical development and manufacturing.Pfizer said that the investment program builds on Pfizer’s long history of successfully collaborating across the healthcare innovation ecosystem, through a wide range of flexible partnering and funding models, with the shared goal of turning science into innovative new medicines.The announcement comes after the drugmaker reported a disappointing outcome for its Phase 3 PALLAS early breast cancer study sending shares down this week.The stock dropped 7.2% to $35.46 as of Monday’s close after it advanced some 30% since the end of March.Following the breast cancer study results, Barclays analyst Carter Gould trimmed the drugmaker’s price target to $35 from $37 and maintained a Hold rating on the shares.In view of Pfizer's disclosure that the Ibrance Phase 3 PALLAS study was being stopped for futility, Gould removed all adjuvant sales from the model, while also lowering his 2025 sales estimates by about $2 billion, and the 2020-2025 annual earnings growth estimate to 3.3% from 4.1%.Overall, Wall Street analysts are cautiously optimistic on Pfizer’s shares with 7 Hold and 3 Buy ratings. This gives the stock a Moderate Buy consensus with a $40.03 average price target (13% upside potential to current levels). (See Pfizer stock analysis on TipRanks).Related News: Pfizer Loses 6% On Disappointing Ibrance Breast Cancer Outcome BioMarin Provides Positive Gene Therapy Update For Severe Hemophilia A Efgartigimod’s Positive Data Is Good News for Momenta’s Nipocalimab More recent articles from Smarter Analyst: * Novavax Surging On $60M Funding For Covid-19 Vaccine Candidate * Facebook To Start Labeling State-Controlled Media Ahead of US Elections * Broadcom Reports Solid Results, Dividend As Analysts Boost PTs * Slack Plunges 15% Post-Print Despite Multi-Year Amazon Deal
Here's a roundup of top developments in the biotech space over the last 24 hours:Scaling The Peaks (Biotech Stocks Hitting 52-week Highs June 1) * Adaptimmune Therapeutics PLC - ADR (NASDAQ: ADAP) * Aileron Therapeutics Inc (NASDAQ: ALRN) (announced positive interim results for its Phase 1b/2 study of ALRN-6924 as an agent to protect patients against chemotherapy-induced toxicity) * argenx SE - ADR (NASDAQ: ARGX) * Bio-Rad Laboratories, Inc. Class A Common Stock (NYSE: BIO) * Cerus Corporation (NASDAQ: CERS) * Dynavax Technologies Corporation (NASDAQ: DVAX) (reacted to reports of partner Sinovac expressing confidence in its coronavirus vaccine) * Emergent Biosolutions Inc (NYSE: EBS) (announced $628-million dollar BARDA funding for rapid development of COVID-19 vaccine candidates) * Imara Inc (NASDAQ: IMRA) * Immunovant Inc (NASDAQ: IMVT) * Inari Medical Inc (NASDAQ: NARI) * Kala Pharmaceuticals Inc (NASDAQ: KALA) * MEI Pharma Inc (NASDAQ: MEIP) * Novo Nordisk A/S (NYSE: NVO) * Protara Therapeutics Inc (NASDAQ: TARA) * TFF Pharmaceuticals Inc (NASDAQ: TFFP) * Turning Point Therapeutics Inc (NASDAQ: TPTX) * Vermillion, Inc. (NASDAQ: VRML) * Y-mAbs Therapeutics, Inc (NASDAQ: YMAB)Down In The Dumps (Biotech Stocks Hitting 52-week Lows June 1) * Ocugen Inc (NASDAQ: OCGN) (announced discontinuation of Phase 3 trial of OCU300 for ocular Graft vs. Host Disease)Stocks In Focus Roche's Cancer Therapy Combo Approved For Treatment-Naive Liver Cancer Roche Holdings AG Basel ADR Common Stock (OTC: RHHBY) said the FDA approved its Tecentriq in combination with Avastin for the treatment of people with unresectable or metastatic hepatocellular carcinoma who have not received prior systemic therapy.Allena's Momentum Carries Through Ahead of Conference Presentation Allena Pharmaceuticals Inc (NASDAQ: ALNA) shares were surging ahead of the company's presentation at the Jefferies Virtual Healthcare Conference. The shares were higher in Monday's regular session, reacting to an initiation by H.C. Wainwright with a Buy rating and $10 price target.Analyst Edward White said the biopharma is an "undervalued enzyme therapeutic company."Following a 31.55% jump to $2.21 in Monday's regular session, Allena shares were rallying by 35.29% to $2.99 in Tuesday's premarket session. Esperion Shares Slip As Shareholder Lawsuit Accorded Class Action Status Esperion Therapeutics Inc (NASDAQ: ESPR) shares came under pressure after a federal district court accorded class action status to a lawsuit filed on behalf of investors, alleging the company issued misleading statements about its non-statin cholesterol-lowering drug Nexletol in a bid to artificially inflate the stock price.The stock fell after it was evident the drug did not have a clear path to regulatory approval, the lawsuit alleged.The stock slid 3.07% to $40.77 in after-hours trading.Related Link: The Week Ahead In Biotech: ASCO, Menlo And Merck FDA Decisions, IPOs In The Spotlight Pfizer To Invest Up To $500M Across Portfolio Of Clinical-Stage Biotechs Pfizer Inc. (NYSE: PFE) announced the establishment of the Pfizer Breakthrough Growth Initiative, through which the company said it will invest up to $500 million in biotechnology companies to help provide funding and access to its scientific expertise to ensure continuity of the biotechnology companies' most promising clinical development programs.Myovant Gains On NDA Submission For Drug Combo to Treat Menstrual Bleeding Sumitovant Biopharma said its affiliate Myovant Sciences Ltd (NYSE: MYOV) has submitted an NDA for the once-daily relugolix combo tablet, comprising relugolix 40 mg, estradiol 1 mg and norethindrone acetate 0.5 mg, for the treatment of women with heavy menstrual bleeding associated with uterine fibroids.The stock was trading 0.95% higher at $17.09 in the premarket session.Sanofi Announces European Nod For Multiple Myeloma Drug Sanofi SA (NASDAQ: SNY) said the European Commission has approved its Sarclisa in combination with pomalidomide and dexamethasone for the treatment of adult patients with relapsed and refractory multiple myeloma who have received at least two prior therapies including lenalidomide and a proteasome inhibitor and have demonstrated disease progression on the last therapy.Aytu Retires $15M In Debt Aytu Bioscience Inc (NASDAQ: AYTU) said it has retired $15 million debt assumed in connection with its previously announced acquisition of Cerecor Inc's (NASDAQ: CERC) Commercial Portfolio.Bidding War For Tetraphase Heats Up Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH) said a revised offer from Melinta received in response to another revised offer from another suitor, AcelRx Pharmaceuticals Inc (NASDAQ: ACRX), has been deemed a superior offer by its board.Melinta and AcelRx have been engaged in a bidding war to lap up Tetraphase, with both companies sweetening their respective bids a few times.The revised AcelRx offer received May 27 called for exchanging each unit of Tetraphase stock for $0.5872 in cash and 0.7409 AcelRx shares, representing $1.70 in upfront per share value, and one CVR, entitling the holders to receive potential payments of up to $16 million in cash upon the achievement of certain future Xerava net sales milestones starting in 2021.Melinta's most recent bid offered $39 million in cash,plus an additional $16 million in cash potentially payable under CVR to be issued in the proposed acquisition.In premarket trading Tuesday, Tetraphase gained 6.9% to $2.48, while AcelRx shares were surging higher by 6.3% to $1.35.Offerings OraSure Technologies, Inc. (NASDAQ: OSUR) said it has commenced an underwritten public offering of 8 million shares of its common stock.The stock slipped 4.32% to $13.51 in after-hours trading.Adaptimmune priced its underwritten public offering of 20.5 million shares of its ADSs at $11 each for gross proceeds of $225.5 million. The company expects the offering to close on or about June 4.Kaleido Biosciences Inc (NASDAQ: KLDO) priced its underwritten public offering of 4.75 million shares of its common stock at $7.50 per share. The company expects to raise gross proceeds of $35.6 million from the offering. All the shares are being offered by the company. The offering is expected to close June 4.The stock was trading 2.87% higher at $8.24 in the premarket session. Allogene Therapeutics Inc (NASDAQ: ALLO) priced its underwritten public offering of 11.702 million shares at $47 per share for gross proceeds of $550 million.The offering is expected to close on or about June 4.The stock fell 0.57% to $48.66 in after-hours trading.Guardant Health Inc (NASDAQ: GH) announced the commencement of a proposed underwritten public offering of 10 million shares of its common stock, of which 3 million shares are being offered by Guardant Health and 7 million by SoftBank Investment.The stock was up 0.1% at $48.99 premarket. G1 Therapeutics Inc (NASDAQ: GTHX) said it has entered into a debt financing agreement with Hercules Capital, Inc. (NYSE: HTGC) for up to $100 million. The company plans to use the proceeds to fund commercialization and further development of trilaciclib, its first-in-class investigational therapy designed to improve outcomes for people with cancer treated with chemotherapy.Intellia Therapeutics Inc (NASDAQ: NTLA) said it has commenced an underwritten public offering of $75 million of shares of its common stock. All of the shares in the proposed offering are to be sold by Intellia.Intellia shares were trading 0.91% higher at $20.73 premarket Tuesday.Related Link: Attention Biotech Investors: Mark Your Calendar For June PDUFA Dates See more from Benzinga * Pfizer Analyst Takes Stock Of Negative Breast Cancer Data, Pharma Giant's 2025 Goals(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.