|Bid||0.00 x 1000|
|Ask||0.00 x 800|
|Day's Range||592.00 - 618.71|
|52 Week Range||271.37 - 618.71|
|Beta (5Y Monthly)||0.53|
|PE Ratio (TTM)||31.02|
|Earnings Date||Aug 04, 2020 - Aug 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||604.88|
Lilly (LLY) begins phase I study on a potential antibody therapy to treat COVID-19. Gilead (GILD) announces mixed results from the second phase III study on remdesivir in patients with moderate COVID-19.
The big pharma's collaboration with AbCellera to create a coronavirus treatment is sprinting forward.
(Bloomberg Opinion) -- As companies and countries pour money into the effort to develop Covid-19 vaccines, timelines keep getting more ambitious and dates for delivering a workable immunization against the virus keep moving up. Yet even with companies such as Moderna Therapeutics Inc. and AstraZeneca Plc signaling rapid progress and already enrolling patients in mid-stage trials, it would be quite a feat if we had a stockpile of proven doses by year's end. That’s a best-case scenario. A longer wait is more likely, and that may seem discouraging. The good news is, there is a batch of treatments in development with a chance of accelerated approval, and they can provide needed relief in the interim.Dozens of approaches could serve as a valuable bridge, from repurposed drugs to bespoke antibody cocktails. None can replace the value of a vaccine in getting the world back to normal, but the availability of more treatment options for sick patients could help to increase the chances of a faster and fuller recovery, and reduce the lethality of the disease. Two of the most familiar treatments options — the malaria drug hydroxychloroquine and Gilead Sciences Inc.’s remdesivir — have recently run into issues over safety and degree of efficacy, but there are plenty more in the pipeline.When it comes to development, the pathway for treatments is generally smoother than the one for vaccines, which can run into bottlenecks that are fundamentally difficult to break. For one, the fact that innoculations are aimed at healthy individuals means there is a higher safety bar. And the large trials necessary for trying out vaccines would have to occur in places where Covid-19 is spreading substantially to get the random exposure required to test them properly. With multiple candidates in development and ongoing precautions to avoid infection, getting robust data fast may be an issue. Finding volunteers is also an issue for treatment trials, as case counts level off. Still, many outcomes for infected patients can be determined comparatively rapidly. Along with a higher tolerance for side effects in individuals at possible near-term risk of dying, this permits smaller and faster tests.There are a few significant groups of possible treatments. The first involves repurposing existing drugs such as hydroxychloroquine and remdesivir. Because these types of medicines were originally designed to treat other conditions, they are less likely to produce a dramatic effect. However, if one is useful, it can be deployed quickly.One category within this group doesn't aim at the virus, but the out-of-control immune response it can cause. Roche Holding AG's arthritis drug Actemra has shown some early promise and is in larger trials. Researchers plan to test a variety of other medicines that target inflammation. If successful, they could provide several avenues to improved outcomes in critically ill patients. Another idea? Drug cocktails. That's the thought behind a recently started trial combining remdesivir and Actemra. Several other repurposed combinations, existing flu drugs, and a host of other medicines have opportunities to prove their worth.A second category of drug treatments involves a different type of recycling: using the blood of recovered individuals. People who survive Covid-19 develop antibodies against the virus and their donated plasma is already part of treatment regimens for sick patients around the world. Early results look promising, but they need confirmation from randomized trials that are now under way. Scale and variability issues may prevent convalescent plasma from treating millions, so it's worth boosting identification and collection efforts now even if the benefits of this type of treatment aren’t yet fully determined. A concentrated version under development by Takeda Pharmaceutical Co. also could prove useful.A related third group of medicines centers on artificially produced antibodies, which could be more effective and available than natural counterparts. Companies including Eli Lilly & Co., Regeneron Pharmaceuticals Inc. and Vir Biotechnology Inc. are pursuing this approach. Lilly announced the start of its first trial Monday. Regeneron, which created a successful antibody cocktail for an Ebola epidemic, is right behind. While there's no guarantee of success, these treatments have a better chance of autumn availability than even the fastest vaccines. It would take additional trials to confirm, but this category has particular value as a bridge because it can function as both treatment and temporary protection.Unless making and deploying hundreds of millions of inoculations is a lot easier than I expect and the fastest vaccines durably prevent both infection and transmission — a big ask for warp-speed efforts — Covid-19 may be around in diminished form for a while to come. That means treatments will remain valuable even after vaccines arrive. The more tools doctors have, the better.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Moody's Investors Service, ("Moody's") has today affirmed the A1 long-term ratings of France-based pharmaceutical company Sanofi and its guaranteed subsidiary Genzyme Corporation. The affirmation follows Sanofi's announcement that it intends to sell its stake in US biotechnology company Regeneron Pharmaceuticals, Inc. (Regeneron).
Regeneron Pharmaceuticals, Inc (REGN) and Intellia Therapeutics, Inc. (NTLA) announced an expansion of their partnership to jointly develop potential products for the treatment of hemophilia A and B.Under the terms of the partnership Intellia will receive an upfront payment of $70 million, and Regeneron will make an additional equity investment in Intellia of $30 million at $32.42 per share. Intellia shares jumped 19% to $20.92 at the close on Monday.The collaboration will provide Regeneron with rights to develop products for additional 5 in vivo gene edited targets. The biotech company will also get non-exclusive rights to independently develop and commercialize ex vivo gene edited products.“We are excited to work with Regeneron on what could potentially be a cure for hemophilia A and B in this expansion of our successful collaboration that builds on our leading insertion capabilities," said Intellia's CEO and President John M. Leonard. "We believe that our CRISPR/Cas9-based technology addresses the limitations of current replacement and gene therapy approaches, and importantly, may provide a durable, potentially life-long solution to these genetic diseases."In addition, the term of the companies' existing collaboration will be extended until April 2024, with Regeneron having an option to renew for an additional two years.After Monday’s rally, Intellia’s shares are up now 42% year-to-date.Following the news, five-star analyst David Nierengarten at Wedbush raised Intellia’s price target to $20 from $16, while maintaining a Hold rating on the stock, saying that the expanded deal is a “favorable” extension of the existing collaboration.“The financial terms for Intellia are attractive and alleviates a meaningful degree of dilutive financing risk for the company,” Nierengarten wrote in a note to investors.However, the analyst views Intellia's programs as fully valued at these levels.The rest of Wall Street analysts are evenly divided between 2 Buy and 2 Hold ratings adding up to a Moderate Buy consensus. In comparison to Nierengarten, the analyst community sees room for more gains in the shares in the coming year. The $33.17 average price target implies 59% upside potential in the next 12 months. (See Intellia stock analysis on TipRanks).Related News: Regeneron, Sanofi Get FDA Nod For Dupixent Treatment In Children Regeneron Announces Secondary Offering Pricing At $515/Share Regeneron To Repurchase $5 Billion Stake From Sanofi More recent articles from Smarter Analyst: * Philips Gets FDA Emergency Use Nod For Monitors, Displays During Covid-19 Pandemic * Free Version of WWE Network Now Available for Fans * Bristol Myers Reveals Positive Results For Ulcerative Colitis Pivotal Trial * Pfizer Embarks On $500 Million Investment Plan For Biotech Businesses
U.S. public companies sold more than $60 billion in shares in May, the biggest monthly haul ever, as they capitalized on a stock market rally fueled by hopes that the COVID-19 pandemic is subsiding. The likes of Southwest Airlines Co and cruise operator Carnival Corp have issued new stock to raise money. Major shareholders in companies such as BlackRock Inc and U.S. drugmaker Regeneron Pharmaceuticals Inc have cashed out their stock, with the market rebound far from certain to last.
Shares of Intellia Therapeutics (NASDAQ: NTLA) rose as much as 18% today after the company announced an expansion of its partnership with Regeneron Pharmaceuticals (NASDAQ: REGN). The pair will jointly develop drug candidates to treat hereditary blood disorders hemophilia A and hemophilia B. Additionally, Regeneron Pharmaceuticals will gain rights to develop drug candidates using both in vivo (inside the body) and ex vivo (outside the body) drug candidates and delivery tools developed by Intellia Therapeutics. The gene editing pioneer will earn a combined up-front payment of $100 million in cash and equity.
Shares of Regeneron Pharmaceuticals Inc. were down 0.5% in premarket trading on Monday after the company said it had expanded a collaboration with Intellia Therapeutics Inc. to include CRISPR/Cas9-based therapeutic targets and a new focus on developing treatments for hemophilia A and B. Intellia's stock was up 23.6% before the market opened. Regeneron will pay $70 million upfront and make a $30 million equity investment in Intellia at $32.42 per share. Regeneron recently wrapped up a longtime development arrangement with Sanofi . Year-to-date, Regeneron's stock is up 63.2%, shares of Intellia have gained 19.3%, and the S&P 500 is down 5.7%.
Regeneron and Intellia to co-develop potential hemophilia A and B treatments using their jointly-owned targeted transgene insertion capabilities
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]
A survey of fitness-center operators is that they’ll reopen soon, that their customers will abandon the Peloton app, and that they’ll hit their prepandemic numbers.
Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced that it has completed the secondary offering of 13,014,646 shares of its common stock held by Sanofi, which includes the exercise in full of the underwriters' option to purchase additional shares from Sanofi, at a public offering price of $515.00 per share. The Company also announced the completion of its repurchase of 9,806,805 shares directly from Sanofi at a price of $509.85 per share (representing the price paid by the underwriters in the offering), for an aggregate purchase amount of $5 billion. Pursuant to the offering and repurchase, Sanofi has disposed of all of its shares of common stock in Regeneron, other than 400,000 shares that it is retaining.
Jim Cramer shares stock market news including what to watch with Regeneron, American Airlines cutting jobs, and Boeing restarting production on its 737 Max.
The Zacks Analyst Blog Highlights: T-Mobile US, Citigroup, Blackstone Group, Regeneron Pharmaceuticals and Canadian National Railway
Across all groups combined, complete responses (CR) are now 16%; in the metastatic group with the longest follow-up CRs are 20%, nearly tripling with two additional years of follow-up
Regeneron (REGN) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
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