|Bid||32.33 x 900|
|Ask||0.00 x 1400|
|Day's Range||32.01 - 36.50|
|52 Week Range||11.65 - 75.00|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 25, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||33.33|
Generation Bio and Vir Biotechnology announce a collaborative research agreement.
SAN FRANCISCO, March 26, 2020 -- Vir Biotechnology, Inc. (Nasdaq: VIR), a clinical-stage immunology company focused on treating and preventing serious infectious diseases,.
Given the urgent need for curing infected COVID-19 patients, let's take a look at the companies developing drugs/treatments for the same.
On your mark, get set, go! The race is on to find an effective vaccine against COVID-19, the novel coronavirus that has spread to 471,000 people around the world and claimed more than 21,000 lives. According to the Coalition for Epidemic Preparedness Innovations (CEPI) chief executive Dr. Richard Hatchett, the current pandemic rivals the deadly 1918 Spanish flu, and thus finding a defense against the virus is of utmost importance. “There is a real sense of urgency...because the threat we are facing is unprecedented in the last 100 years in terms of its speed and potential severity,” he commented. As Hatchett estimates that the advancement of a vaccine at the necessary speed will cost $2 billion over the next 12-18 months, it’s no wonder Wall Street is watching the names taking on this formidable foe. Bearing this in mind, we turned to TipRanks’ database to get all the data on three biotech stocks racing to develop a COVID-19 vaccine. The platform showed Wall Street pros believe that among these names, some appear more poised to emerge as a long-term winner. Here’s what we found out. Dynavax Technologies Corporation (DVAX) Using Toll-like Receptor (TLR) biology to modulate the immune system, Dynavax develops innovative vaccines for a number of diseases, with one vaccine against hepatitis B already on the market, Heplisav-B. Since entering the COVID-19 vaccine race, the analyst community has been buzzing about this biotech. DVAX told investors on March 24 that it agreed to a research collaboration with private China-based company, Clover Biopharmaceuticals, to develop an experimental vaccine to prevent COVID-19. As per the terms of the agreement, DVAX will offer the technology used in Heplisav-B, toll-like receptor 9 agonist adjuvant CpG 1018, in order to advance Clover’s vaccine candidate in preclinical studies. Clover’s vaccine is a protein-based coronavirus vaccine (COVID-19 S-Trimer) and uses its proprietary Trimer-Tag technology. If that wasn’t enough, DVAX already stated on March 2 that it will collaborate with the University of Queensland and the CEPI to develop a vaccine candidate for COVID-19. Like its development efforts with Clover, the company will provide its CpG 1018 technology, with a clinical trial set to start in mid-2020. While H.C. Wainwright analyst Edward White doesn’t factor these collaborations into his model, he noted, “...we view them as an upside option on the recent COVID-19 outbreak.” Expounding on his valuation, the five-star analyst added, “We use the net present value of our revenue forecast through 2028, a discount rate of 20%, and a 2x price/sales multiple. Our P/S multiple of 2x is in-line with Dynavax’s peers at approximately 2-5x. We estimate Heplisav-B sales of $57 million in 2020 and $236 million in 2028.” To this end, White maintained both a Buy recommendation and $12 price target. Should the target be met, shares stand to gain 263% in the next twelve months. (To watch White’s track record, click here) What does the rest of the Street think about DVAX’s prospects? It turns out that other pros agree with the H.C. Wainwright analyst. Receiving 100% Street support, this biotech earns a Strong Buy consensus rating. At $16, the average price target comes in above White’s forecast and suggests 356% upside potential. (See Dynavax price targets and analyst ratings on TipRanks)Inovio Pharmaceuticals (INO) Biotech Inovio Pharmaceuticals has already been in the race to develop a vaccine against COVID-19, with it claiming that it had designed its candidate, INO-4800, only three hours after Chinese researchers published the SARS-CoV-2 genetic sequence on January 10. It also received a $5 million grant from the Bill and Melinda Gates Foundation. Now, it’s grabbing headlines for another collaboration, and Wall Street is taking notice. On March 24, Inovio announced that the U.S. Department of Defense (DOD) had given privately-held contract development manufacturing organization (CDMO), Ology Bioservices, an $11.9 million contract to partner with INO on a COVID-19 vaccine candidate. Ology will work with the biotech on DNA technology transfer in order to manufacture INO-4800 as well as quickly deliver the vaccine to the DOD for clinical trials or even emergency use. This development is a significant step forward as INO is gearing up for a Phase 1 trial in the U.S. next month. According to H.C. Wainwright’s Raghuram Selvaraju, “...this partnership would scale up Inovio’s manufacturing capacity and provide sufficient vaccines in a timely fashion to protect the nation’s military personnel against current and future outbreaks.” Selvaraju points out that there are a few advantages of DNA vaccines that could give INO an edge over its peers. Unlike other players in the race, its vaccines can be stored at room temperature for one year or at 37°C for one week, eliminating the need for cold chain logistics. In addition, INO’s injection device is battery-operated and highly portable, making the candidate easy to transport and deploy in any place around the world. The analyst noted, “Accordingly, we believe INO-4800 could be ready for a Phase 2 trial and available for emergency use as of end-2020.” Even though this race features many strong competitors Selvaraju believes, “...the Moderna, BioNTech and Inovio vaccine programs are the furthest along and anticipate that their testing shall be prioritized by regulators and government agencies in order to attempt to effectively combat the crisis.” Taking this into consideration, Selvaraju reiterated a Buy rating and $13 price target. This conveys his confidence in INO’s ability to soar 95% in the next year. (To watch Selvaraju’s track record, click here) Looking at the consensus breakdown, 4 Buys and 2 Holds issued in the last three months coalesce into a Moderate Buy consensus rating. With a $10 average price target, the upside potential lands at 45%. (See Inovio stock analysis on TipRanks) Vir Biotechnology (VIR) With the help of its antibody platform, Vir Biotechnology was able to select a lead clinical vaccine candidate for COVID-19. As a result, it has climbed 62% higher in the last month, attracting significant attention from members of the Street. The company’s lead candidate was designed using an antibody-based approach that binds a conserved epitope on SARS-CoV-2 (COVID-19), which is shared with SARS-CoV-1, the most closely related coronavirus to COVID-19. This could allow it to be effective even as the strains mutate. After it identified the experimental vaccine candidate, VIR transferred it to WuXi Biologics and Biogen in an attempt to expedite development, with a clinical trial slated to begin in 3-5 months. Adding to the good news, Cowen analyst Phil Nadeau points out that “Vir modified the Fc region of the candidate to potentially expand the half-life of the compound and also made a vaccinal modification to allow for the generation of CD8+ memory T cells to the virus to potentially provide long-term immunity.” Explaining the implications of these changes, the analyst wrote, “This modification would allow the therapy to function both as a therapeutic for those infected and also a prophylactic vaccine... Vir envisions that its clinical program will explore use of antibodies (1) In the prevention of disease; (2) The prevention of progression to severe disease; (3) The treatment of severe disease, and (4) the development of vaccines.” As the biotech has successfully identified other antibodies from patients that have recovered from SARS-CoV-2 and SARS-CoV-1 and is using its RNAi platform as well as its innate immunity platform to identify other potential candidates, Nadeau has high hopes for VIR. “We are encouraged that Vir is making rapid progress toward clinical testing of candidates for the treatment of COVID-19... Moreover, as Vir is targeting a region conserved between SARS-CoV-2 and SARS-CoV-1, the candidate could have implications for not only the current pandemic, but may have utility in the future both as a vaccine, and a therapeutic should other coronaviruses emerge,” he commented. Based on all of the above, Nadeau stayed with the bulls. While he reiterated an Outperform rating, he declined to set a specific price target. (To watch Nadeau’s track record, click here) When it comes to the rest of the Street, other analysts take more of a cautious approach. 2 Buys, 1 Hold and 2 Sells add up to a Hold analyst consensus. It should also be noted that the $29.33 average price target implies 5% downside potential. (See Vir Biotechnology stock analysis on TipRanks)
Here's a roundup of top developments in the biotech space over the last 24 hours:Scaling The Peaks (Biotech stocks that hit 52-week highs March 25.) * Ra Pharmaceuticals Inc (NASDAQ: RARX)Down In The Dumps (Biotech stocks that hit 52-week lows March 25.) * Anixa Biosciences Inc (NASDAQ: ANIX) * IMMUTEP LTD/S ADR (NASDAQ: IMMP) (reacted to breast cancer trial readout) * PLx Pharma Inc (NASDAQ: PLXP) * Taro Pharmaceutical Industries Ltd. (NYSE: TARO)Stocks In Focus Quidel COVID-19 Detection Assay Obtains Expanded EUA, CE Mark Approval Quidel Corporation (NASDAQ: QDEL) said its Lyra SARS-CoV-2 Assay has received expanded Emergency Use Authorization from the FDA to allow testing with three additional thermocyclers, namely Applied Biosystems' 7500, Roche Holdings AG's (OTC: RHHBY) LightCycler 480 and Qiagen NV's (NYSE: QGEN) Rotor Gene Q.Quidel said the initial EUA awarded allowed qualitative detection of nucleic acid from SARS-CoV-2 in nasopharyngeal or oropharyngeal swab specimens from patients suspected of COVID-19. The expanded authorization includes nasal and nasal turbinate swabs.Quidel also said it received the CE-Mark on March 25, which will allow it market and sell the Lyra SARS-CoV-2 Assay in Europe as well as other countries that accept CE Mark.Alector Out-Licenses China Rights of AL008 In Oncology To Innovent Biologics Alector Inc (NASDAQ: ALEC) and Hong Kong-listed biopharma Innovent Biologics said they have entered into a licensing agreement to develop and commercialize an anti-SIRP-alpha antibody AL008 for the treatment of oncology indications in China.The companies did not disclose the financial terms of the deal. The agreement gives Innovent the responsibility of leading development and commercialization of the investigational compound in China, while Alector is in charge of developmental activities outside of China.See also: The Week Ahead In Biotech: Bristol-Myers, Rockwell Medical Await FDA Decisions, COVID-19 Updates In Focus Bristol-Myers Squibb Receives FDA Nod For Celgene's Multiple Sclerosis Drug Bristol-Myers Squibb Co (NYSE: BMY) announced FDA approval for ozanimod 0.92 mg as a treatment option for patients with relapsing forms of multiple sclerosis.In premarket trading Thursday, Bristol-Myers Squibb shares were adding 1.52% to $50.10.Cerecor To Test Role Of Inflammatory Cytokinin In COVID-19-Induced Acute Respiratory Distress Cerecor Inc (NASDAQ: CERC) said it plans to explore the role of an inflammatory cytokine -- LIGHT -- in patients with COVID-19-induced acute respiratory distress. It said it will use its proprietary free LIGHT assay as well as multiple assay to determine if there are differences in LIGHT levels and other inflammatory markers, including IL-18 and IFN-g, in patients with mild-to-moderate vs. severe disease with Acute Lung Injury or Acute Respiratory Distress Syndrome.Grifols To Develop Hyperimmune Globulin For COVID-19 Grifols SA - ADR (NASDAQ: GRFS) said it has entered a formal collaboration agreement with the U.S. BARDA, the FDA and other federal public health agencies to collect plasma from convalescent COVID-19 patients and process this specific plasma into a hyperimmune globulin.The company also said it will support the necessary preclinical and clinical studies to determine if anti-SARS-CoV-2 hyperimmune globulin therapy can be used to treat COVID-19 disease.In Spain, Grifols is working on a clinical trial with inactivated plasma from recovered patients through a collaboration with select donation centers and public hospitals.View more earnings on IBBThe company also said it has accelerated the development and validation of a proprietary technology transcription-mediated amplification-based diagnostic procedure to detect the virus, with a sensitivity equivalent or even superior to that of PCR test.The stock was rising 10.47% to $19.63 in premarket trading.Pfizer, Mylan Announce Delay In Merger Of Generic Businesses Pfizer Inc. (NYSE: PFE) and Mylan NV (NASDAQ: MYL) announced the proposed merger between Mylan and Pfizer's generic unit Upjohn will now close in the second half of 2020 due to the unprecedented circumstances surrounding the COVID-19 pandemic, including associated delays in the regulatory review process. The companies initially had a closing deadline of mid-2020.Biopharmx Gets Delisting Notice From NYSE American Specialty pharma company Biopharmx Corp (NYSE: BPMX) said it received a notification from NYSE American LLC on March 24 regarding its determination to delist the company's shares from the exchange. The decision is due to the company's non-compliance with certain continued listing standards.Biopharmx said it will appeal the delisting notice. The shares, according to the company, will continue to trade on the exchange during the appeal period.The company also clarified that the delisting does not affect its business operations, its intention to merge with Timber Pharma announced Jan. 28 or its SEC reporting requirements,The stock was down 2.83% at 28 cents at the time of publication.Xencor, Vir Agree To License Technology To Extend Half-Life Of COVID-19 Treatment Candidates Xencor Inc (NASDAQ: XNCR) said it entered into a technology license agreement with Vir Biotechnology Inc (NASDAQ: VIR) that provides Vir non-exclusive access to Xencor's Xtend Fc technology to extend the half-life of novel antibodies Vir is investigating as a potential treatment for COVID-19."Xtend Fc technology has demonstrated, in multiple antibodies and through numerous human clinical trials, the ability to extend antibody drug half-life and reduce dosing frequency in patients, an important feature in anti-viral therapy for pandemic use," Xencor CEO Bassil Dahiyat said in a statement. The companies did not disclose the financial terms of the deal.Vir shares were trading 3.22% higher at $31.74 in Thursday's premarket session.Earnings Biocept Inc's (NASDAQ: BIOC) fourth-quarter revenue climbed 108% year-over-year to $1.8 million. The net loss narrowed significantly from $1.43 per share to 20 cents per share. Analysts estimated a loss of 10 cents per share.The stock was trading 8.57% higher at 38 cents at the time of publication. On The Radar PDUFA Dates IntelGenx Technologies Corp.'s (OTC: IGXT) NDA for rizaport versafilm for the treatment of acute migraine is pending before the FDA, with the target action day fixed for Thursday. The company had faced three rejections for the investigational drug in the past.Earnings * Celsion Corporation (NASDAQ: CLSN) (before the market open) * Entera Bio Ltd (NASDAQ: ENTX) (before the market open) * TFF Pharmaceuticals Inc (NASDAQ: TFFP) (before the market open) * IGM Biosciences Inc (NASDAQ: IGMS) (after the close) * NovaBay Pharmaceuticals, Inc. (NYSE: NBY) (after the close) * Vermillion, Inc. (NASDAQ: VRML) (after the close) * aTyr Pharma Inc (NASDAQ: LIFE) (after the close)Related Link: Hoth Therapeutics Shares Jump On COVID-19 Vaccine Development Plans See more from Benzinga * The Daily Biotech Pulse: Milestone Pharma Flunks Late-Stage Study, CytomX Strikes Cancer Drug Collaboration, BARDA Grant For GenMark's COVID-19 Test(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Vir Biotechnology, Inc. (VIR) today announced that it has identified multiple human monoclonal antibody (mAb) development candidates that neutralize SARS-CoV-2, the virus responsible for COVID-19. “We are pleased with the rapidity of our progress and excited to move two development candidates into human testing as soon as possible,” said George Scangos, Ph.D., CEO, Vir.
Vir Biotechnology, Inc. (VIR) today announced that it has signed a letter of intent with Biogen Inc. (BIIB) for the development and clinical manufacturing of human monoclonal antibodies for the potential treatment of COVID-19, the disease caused by the SARS-CoV-2 virus. Because of the urgency of the situation, the companies have begun work while a Clinical Development and Manufacturing Agreement is being negotiated. Subject to the completion of a definitive agreement, Biogen would continue cell line development, process development, and clinical manufacturing activities in order to advance the development of Vir’s proprietary antibodies.
Vir Biotechnology, Inc. (VIR) today announced a research collaboration agreement with the National Institutes of Health (NIH) and the National Institute of Allergy and Infectious Diseases (NIAID), Vaccine Research Center (VRC) to advance characterization and development of human monoclonal antibodies (mAbs) against coronaviruses, including SARS-CoV-2, the virus that causes the disease COVID-19. The joint project, which will begin this week, will augment ongoing efforts by both parties to identify antibodies that can be used to prevent or treat infection with existing and emerging viruses and help inform the development of vaccines.
SAN FRANCISCO, March 10, 2020 -- Vir Biotechnology, Inc. (Nasdaq: VIR), a clinical-stage immunology company focused on immune approaches to treating and preventing serious.
The Zacks Analyst Blog Highlights: Moderna, Inovio Pharmaceuticals, Vir Biotechnology and Alnylam Pharmaceuticals
Alnylam (ALNY) expands its collaboration pact with Vir Biotechnology to develop RNAi therapeutics targeting SARS-CoV-2, the virus that induces Covid-19. Stock gains.
The global coronavirus outbreak has shown no signs of slowing down, with the worldwide total of new cases topping 94,000 and claiming over 3,200 lives.
Vir Biotechnology Inc (NASDAQ: VIR) is stepping up its COVID-19 fighting efforts and the quest has rewarded its shareholders.Adding to its existing efforts, Vir announced Wednesday it has expanded its existing collaboration agreement with Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY), a pioneer in a therapeutic area called RNA interference, to develop treatments for COVID-19. The companies have agreed to use Alnylam's recent advances in lung delivery of novel conjugates of siRNA and Vir's infectious disease expertise to develop one or some siRNAs to treat COVID-19 and other coronaviruses as well.Alnylam said it has designed over 350 siRNAs, targeting genomes of SARS-CoV and SARS-CoV-2. It expects to screen these in lab to zero in on potential siRNA lead candidates, which in turn will be evaluated by scientists at Vir, both in lab and animal models before a development candidate is selected.Vir will be in charge of all development and commercialization, and at the proof-of-concept stage, Alnylam has an option to equally share in profits and losses associated with the development and commercialization.Instead, Alnylam may choose to earn development and commercialization milestones and royalties on net product sales.See Also: Attention Biotech Investors: Mark Your Calendar For These March PDUFA Dates"We believe RNAi therapeutics represent a promising approach for targeting coronaviruses, like SARS-CoV-2. As the leader in RNAi therapeutics, we at Alnylam are committed to doing our part in joining other biopharmaceutical companies, like Vir, to address this emerging outbreak," said Alnylam CEO John Maraganore.The two companies have an ongoing collaboration for developing RNAi therapeutic candidate VIR-2218 for chronic hepatitis B infection, with the candidate currently being evaluated in a Phase 1/2 study.Vir is already working with WuXi Biologics for a COVID-19 treatment. The company has identified a number of monoclonal antibodies that bind to COVID-19 and is conducting research to determine if these can be effective as treatment and/or prophylaxis against the virus.In pre-market trading Wednesday, Vir share were rallying 11.18% to $45.55 and Alnylam was edging up 2.76% to $114.50.See more from Benzinga * The Daily Biotech Pulse: Takeda Jumps Into The COVID-19 Fray, Exact Sciences Buys Cancer Diagnostics Companies * The Daily Biotech Pulse: GenMark Diagnostics Ships COVID-19 Test Kits, Karyopharm To Offer Shares, And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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 on March 3) * Acceleron Pharma Inc (NASDAQ: XLRN) * BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) * Fate Therapeutics Inc (NASDAQ: FATE) (reacted to its fourth-quarter results) * Forty Seven Inc (NASDAQ: FTSV) * IGM Biosciences Inc (NASDAQ: IGMS) * Inovio Pharmaceuticals Inc (NASDAQ: INO)( announced an accelerated timeline for COVID-19 vaccine development) * Repro-Med Systems, Inc. (NASDAQ: KRMD) * SpringWorks Therapeutics Inc (NASDAQ: SWTX) * Zynex Inc. (NASDAQ: ZYXI)Down In The Dumps (Biotech Stocks Hitting 52-week lows on March 3) * ADDEX THERAPEUT/ADR (NASDAQ: ADXN) * Akorn, Inc. (NASDAQ: AKRX) * Aldeyra Therapeutics Inc (NASDAQ: ALDX) * ANI Pharmaceuticals Inc (NASDAQ: ANIP) * Evolus Inc (NASDAQ: EOLS) * EXACT Sciences Corporation (NASDAQ: EXAS) * HTG Molecular Diagnostics Inc (NASDAQ: HTGM) * Midatech Pharma PLC-ADR (NASDAQ: MTP)(began trading on a reverse split adjusted basis) * Mylan NV (NASDAQ: MYL) * Neuronetics Inc (NASDAQ: STIM)(announced its fourth-quarter results) * Passage Bio Inc (NASDAQ: PASG)(IPOed last week) * STRATA Skin Sciences Inc (NASDAQ: SSKN) * SurModics, Inc. (NASDAQ: SRDX) * Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH) * TransMedics Group Inc (NASDAQ: TMDX)(reported its fourth-quarter results) * VIVUS, Inc. (NASDAQ: VVUS) * Xeris Pharmaceuticals Inc (NASDAQ: XERS)See Also: Attention Biotech Investors: Mark Your Calendar For These March PDUFA DatesStocks In Focus Takeda To Develop COVID-19 Treatments Takeda Pharmaceutical Co Ltd (NYSE: TAK) said it is initiating the development of an anti-SARS-CoV-2 polyclonal hyperimmune globulin to treat high-risk individuals with the viral infection. Hyperimmune globulins are plasma-derived therapies that had previously proven its efficacy in treating severe acute viral respiratory infections.The company added it is also studying its currently marketed and pipeline products to see whether they are effective treatments for infected patients.Separately, the company said it has completed its previously announced sale of portfolio of select products to STADA for $660 million.In pre-market trading Wednesday, Takeda shares were adding 3.94% to $18.20.Vir, Alnylam Expands Collaboration To Develop siRNA Therapies For COVID-19 Vir Biotechnology Inc (NASDAQ: VIR) and Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) announced an expansion to their existing collaboration to include the development and commercialization of RNAi therapeutics against COVID-19. The agreement provides for Vir using Alnylam's recent advances in lung delivery of novel conjugates of siRNA along with its infectious disease expertise to develop one or some siRNAs to treat COVID-19 and other coronaviruses as well.In premarket trading Wednesday, Vir share were rallying 14.72% to $47 and Alnylam was edging up 0.41% to $111.88.Mallinckrodt Reports Positive Outcome Analysis of Acthar Gel In Immune-mediated Diseases Mallinckrodt PLC (NYSE: MNK) announced findings from a retrospective medical record analysis, which assessed practice patterns and outcomes of Acthar Gel in the treatment of immune-mediated diseases rheumatoid arthritis, systemic lupus erythematosus and dermatomyositis/polymyositis, which showed across all the three patient populations, symptoms improved with Acthar Gel.In premarket trading Wednesday, the shares were advancing 7.99% $3.38.Acadia's Rett Syndrome Investigational Drug Gets Rare Pediatric Designation ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) and Neuren Pharma said the FDA has granted Rare Pediatric Disease designation to trofinetide for the treatment of Rett syndrome, a serious and rare neurological disorder.Upon approval of a product with the designation, the sponsor is eligible to receive a Priority Review Voucher, which can be used to obtain FDA approval of an NDA for another product in an expedited period of six months.Acadia shares were up 2.41% to $42.99 in after-hours trading.Morphosys' Licensing Agreement With Incyte For Lymphoma Drug Gets Antitrust Clearance Morphosys Ag (NASDAQ: MOR) and Incyte Corporation (NASDAQ: INCY) said their joint collaboration and license agreement for further development and global commercialization of Morphosys' investigational compound tafasitamab has received antitrust clearance and becomes effective Tuesday.The regulatory milestone triggers a $750 million upfront payment by Incyte to Morphosys, and also Incyte's equity investment of $150 million into MorphoSys within the defined timelines.The PDUFA date for the BLA for tafasitamab in combination with lenalidomide for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma is Aug. 30.Ultragenyx CFO To Step Down Ultragenyx Pharmaceutical Inc (NASDAQ: RARE) said Shalini Sharp will step down as CFO and EVP, effective Sept. 2. The company said it will initiate a search for a successor.Exact Sciences Buys Two Cancer Diagnostics Companies Exact Sciences said it has completed its acquisition of Paradigm Diagnostics and Viomics, two privately held companies, which provide a differentiated late-stage therapy selection test and deep competencies in sequencing and biomarker discovery.View more earnings on TAKThe company expects the acquisition to extend its lab testing and research and development capabilities.J&J Makes Regulatory Submission For Approval of Multiple Sclerosis Drug In Europe Johnson & Johnson's (NYSE: JNJ) Janssen unit announced it submitted a Marketing Authorization Application to EMA, seeking approval for ponesimod for the treatment of adult patients with relapsing multiple sclerosis.Earnings DURECT Corporation (NASDAQ: DRRX) reported fourth-quarter net revenues of $10.69 million compared to $3.63 million last year. The net loss per share narrowed from 5 cents to 2 cents, in line with the consensus estimate.The stock jumped 12.21% to $1.93 in after-hours trading.Menlo Therapeutics Inc's (NASDAQ: MNLO), which has agreed to be bought by Foamix Pharmaceuticals Ltd (NASDAQ: FOMX), reported a wider loss of 89 cents per share compared to the year-ago loss of 76 cents per share and the consensus loss estimate of 83 cents per share.Updating on the pending merger, Menlo said it expects it to close March 9.The stock jumped 23.64% to $3.40 in after-hours trading.Voyager Therapeutics Inc (NASDAQ: VYGR) reported fourth quarter revenues of $32.67 million compared to $2.01 million a year ago. The net loss per share narrowed from 77 cents to 34 cents. Analysts had estimated a loss of 81 cents per share. The company said it expects its cash reserves as well as receivables to be sufficient to meet its projected operating expenses and capex into mid-2022.The stock gained 6.22% to $12.30 in after-hours trading.Vivus reported fourth-quarter total revenues of $17.25 million and a loss of 61 cents per share, narrower than the 68 cents per share loss expected by analysts.The stock rose 8.98% to $1.82 in after-hours trading.Offerings Zogenix, Inc. (NASDAQ: ZGNX) said it has priced its underwritten public offering of 8.52 million shares at $23.50 per share. The company expects to raise gross proceeds of $200.2 million from the offering. The offering is expected to close on or about March 6.The company said it expects to use the net proceeds for the potential commercialization of Fintepla for the treatment of Dravet syndrome, among other things.The stock fell 3.69% to $24 in after-hours trading.On The Radar Earnings * AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) (before the market open) * Recro Pharma Inc (NASDAQ: REPH) (before the market open) * PPD Inc (NASDAQ: PPD) (before the market open) * Axonics Modulation Technologies Inc (NASDAQ: AXNX) (after the close) * Orthopediatrics Corp (NASDAQ: KIDS) (after the close) * Opiant Pharmaceuticals Inc (NASDAQ: OPNT) (after the close)See more from Benzinga * The Daily Biotech Pulse: GenMark Diagnostics Ships COVID-19 Test Kits, Karyopharm To Offer Shares, And More * The Daily Biotech Pulse: Sangamo In Genome-Editing Therapy Deal With Biogen, FDA Nod For Biohaven, Passage Bio IPO(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Small-cap biotechs focused on virus treatments and cures have soared in recent weeks, but most folks should avoid these risky stocks.
Yahoo Finance’s Adriana Belmont joins Zack Guzman and Akiko Fujita on The Ticker to break down a new report that reveals the shocking cost for coronavirus treatments.
Yahoo Finance’s Anjalee Khelmani joins Zack Guzman and Akiko Fujita on The Ticker to discuss the biotech outlook as coronavirus cases grow in the U.S.
Biotech companies are racing to develop vaccines and treatments as the coronavirus outbreak continues to spread. Yahoo Finance’s Anjalee Khemlani joins Dan Roberts, Julia La Roche and NYU Marketing Professor Scott Galloway on YFi PM to discuss the latest developments.