|Bid||0.00 x 900|
|Ask||0.00 x 1100|
|Day's Range||155.33 - 157.52|
|52 Week Range||115.10 - 178.15|
|PE Ratio (TTM)||151.34|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
In December 2017, CRISPR Therapeutics (CRSP) entered a collaboration with Vertex Pharmaceuticals (VRTX) for the co-development and co-commercialization of CTX001. CRISPR Therapeutics submitted a CTA (clinical trial application) for CTX001 for the initiation of phase 1/2 trial for the evaluation of the safety and efficacy in the treatment of beta-thalassemia in Europe. CRISPR Therapeutics plans to submit an Investigational New Drug application to the FDA for the approval of an initiation of phase 1/2 clinical trial in the US for the treatment of sickle cell disease in the second half of 2018.
Clustered Regularly Interspaced Short Palindromic Repeats, commonly known as CRISPR, the revolutionary gene editing method was first discovered by Francisco Monica in Spain, as a means to defend one’s body from invading viruses. To start with, let’s first focus on what exactly the gene editing process entails. Gene editing is primarily inserting, deleting or replacing DNA base pairs within a gene.
In 1Q18, Jazz Pharmaceuticals (JAZZ) generated revenue of $444.6 million compared to $376.1 million in 1Q17, which reflected an ~18% rise on a YoY (year-over-year) basis and a ~2% rise quarter-over-quarter.
As per the terms of the agreement, Exelixis and Invenra will jointly discover and develop antibodies with the help of Invenra’s B-Body technology platform, which allows high-throughput screening along with in vitro and in vivo preclinical characterization for the development of potential therapeutic candidates. According to the terms of the agreement, Exelixis will lead preclinical trials, manufacturing, the clinical development of both single-regimen and combination-regimen therapies along with regulatory filling and commercialization. Also under this collaboration, Exelixis and Invenra plan to conduct up to six discovery projects.
In 1Q18, Exelixis (EXEL) generated revenues of $212.3 million yesterday, compared to $80.89 million in 1Q17. In 1Q18, Exelixis witnessed ~77% growth on a quarter-over-quarter basis.
The biotech sector was in focus over the last five trading sessions as several bigwigs like Gilead and Vertex, among others reported results while some others provided pipeline updates.
Last week, as President Donald Trump delayed announcing his plan to bring down high drug prices, about a dozen physicians, pharmacists, actuaries and economists in Albany, New York, tried to make a difference. The state Medicaid program's Drug Utilization Review Board voted 10-0 to lower the price New York would pay for Orkambi, Vertex Pharmaceuticals' cystic fibrosis drug, to $83,000 per year, from $250,000. As a lung physician, I appreciate that Orkambi does have benefits — it eases breathing and prevents some of the acute episodes that can land cystic fibrosis patients in the hospital.
Alphabet Inc. ( GOOG), Google's parent company, paid its employees nearly $200,000 last year, placing it in fourth place in terms of median compensation among S&P 500 Index companies that disclose pay. Citing Alphabet, the Wall Street Journal reported that in 2017 it had median pay packages of more than $197,000, which was 18% below Facebook Inc. ( FB) where the median salary was $240,000 in 2017. Excluding the two, which are embroiled in a talent war with other technology companies, the median salary for companies in the S&P 500 was $69,205, noted the Wall Street Journal.
This is the period of end-of-the-month strength in the stock market. In addition, the bullish odds are increased by the Federal Open Market Committee meeting in the coming week on May 1-2. Vertex Pharmaceuticals yields a cycle buy signal on May 1.
In February 2018, Vertex Pharmaceuticals (VRTX) announced the results of a Phase 2 trial for VX-150, an investigational NaV1.8 inhibitor. It had positive results in patients with acute pain after bunion removal and was well tolerated by patients.
Vertex slid to a three-week low Friday after the FDA required additional tests for one compound used in a potential cystic fibrosis regimen.
In 1Q18, Vertex Pharmaceuticals’ (VRTX) revenue rose ~33% YoY (year-over-year) to $638 million from $481 million. It grew ~3% quarter-over-quarter.
Vertex Pharmaceuticals Inc topped analysts' forecasts for quarterly profit on Thursday, led by stronger-than expected sales of its latest cystic fibrosis drug as well as double-digit growth in sales of older treatments. Boston-based Vertex, like other biotech firms developing drugs for rare diseases, has received enormous interest from investors attracted to the value from pricey treatments for conditions such as cystic fibrosis. Vertex is a leader in treatments for cystic fibrosis (CF), a rare, life-shortening genetic disease that affects some 75,000 people in North America, Europe and Australia, and causes progressive lung damage and loss of lung function.
In April 2018, the US FDA (Food and Drug Administration) notified Neurocrine Biosciences and AbbVie (ABBV) that it would require more time to review additional information associated with the liver function tests provided by AbbVie in addition to it its NDA (new drug application) for Elagolix. The US FDA granted the new PDUFA (Prescription Drug Fee User Act) action date in 3Q18.
Yahoo Finance's Jared Blikre joins Seana Smith from the floor of the New York Stock Exchange to discuss the latest market moves.
Latest market news with Yahoo Finance's Seana Smith and Jared Blikre.