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News Breaks
February 8, 2013
09:37 EDTCAP, ARIA, VSTM, MDR, AFFY, MSI, ZBRA, PCYC, ALNY, CENT, MUX, PAY, ONXX, CELGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Affymax (AFFY) initiated with an Outperform at JMP Securities... Alnylam (ALNY) initiated with an Outperform at JMP Securities... Celgene (CELG) initiated with an Outperform at JMP Securities... DSW (DSW) initiated with a Buy at Sterne Agee... McDermott (MDR) initiated with a Neutral at HSBC... Onyx Pharmaceuticals (ONXX) initiated with an Outperform at JMP Securities... Pharmacyclics (PCYC) initiated with an Outperform at JMP Securities... Verastem (VSTM) initiated with an Outperform at JMP Securities... VeriFone (PAY) initiated with a Hold at Jefferies... sZebra Technologies (ZBRA) initiated with a Market Perform at Wells Fargo... ARIAD (ARIA) initiated with an Outperform at JMP Securities... McEwen Mining (MUX) initiated with a Buy at Stifel Nicolaus... Motorola Solutions (MSI) initiated with an Outperform at Wells Fargo... CAI International (CAP) initiated with an Outperform at Wells Fargo... Central Garden & Pet (CENT) initiated with a Neutral at SunTrust.
News For AFFY;CELG;ALNY;MDR;ONXX;PCYC;VSTM;PAY;ZBRA;ARIA;MUX;MSI;CAP;CENT From The Last 14 Days
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June 30, 2015
07:47 EDTCELGCelgene paid high price for CAR T access, says Bernstein
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07:32 EDTCELGJuno pact leaves Celgene set for growth past Revlimid, says Deutsche Bank
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07:14 EDTCELGCelgene deal with Juno Therapeutics probably good, says UBS
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07:13 EDTZBRANasdaq to hold a conference
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07:11 EDTCELGCelgene deal solidifies position in oncology, says Cantor
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07:03 EDTCELGCelgene leaps forward in immuno-oncology with Juno deal, says Piper Jaffray
Piper Jaffray analyst Joshua Schimmer said that Celgene (CELG) effectively spent $1B to buy into adoptive T cell therapy and own all of Juno Therapeutics' (JUNO) opportunities outside the U.S., leaping the company into a leading position in the immuno-oncology space. Schimmer additionally thinks Celgene's transaction should help boost investor confidence about the utility and value of CAR and TCR therapies, noting that he sees Bellicum Pharmaceuticals (BLCM), Cellectis (CLLS), Lion Biotechnologies (LBIO), bluebird bio (BLUE) and the Amgen (AMGN)-Kite Pharma (KITE) partnership as best positioned to compete in this rapidly advancing field. The analyst keeps an Overweight rating and $144 price target on Celgene.
07:03 EDTCELGJuno volatility low into announcing immunotherapy collaboration with Celgene
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June 29, 2015
19:01 EDTCELGOn The Fly: After Hours Movers
HIGHER: Juno Therapeutics (JUNO), up 38.4% after announcing immunotherapy collaboration with Celgene (CELG)... Kite Pharma (KITE) and Lion Biotechnologies (LBIO) are up 8.7% and 5.7% respectively, following Juno's collaboration with Celgene. DOWN AFTER EARNINGS: CHC Group (HELI), down 8%... Apollo Education (APOL), down 6.2%. ALSO LOWER: EnteroMedics (ETRM), down 12.4% after filing to sell common stock and warrants... Celgene (CELG), down 1% after Juno announces immunotherapy collaboration.
18:09 EDTCELGJuno surges after Celgene collaboration, CAR-T peers follow
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16:20 EDTZBRAOZ Management reports 5.24% passive stake in Zebra Technologies
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16:09 EDTCELGCelgene, Juno Therapeutics announce ten year collaboration
Celgene (CELG) and Juno Therapeutics (JUNO) announced a global collaboration for the development and commercialization of immunotherapies. The two companies will leverage T cell therapeutic strategies to develop treatments for patients with cancer and autoimmune diseases with an initial focus on Chimeric Antigen Receptor Technology and T Cell Receptor technologies. Under the terms of the collaboration, Celgene has the option to be the commercialization partner for Juno’s oncology and cell therapy auto-immune product candidates, including Juno’s CD19 and CD22 directed CAR-T product candidates. B-Cell Maturation Antigen is excluded as a target in this collaboration. Under the terms of the collaboration, Celgene has the option to be the commercialization partner for Juno’s oncology and cell therapy auto-immune product candidates, including Juno’s CD19 and CD22 directed CAR-T product candidates. B-Cell Maturation Antigen is excluded as a target in this collaboration. For Juno-originated programs co-developed under the collaboration: Juno will be responsible for research and development in North America and will retain commercialization rights in those territories; Celgene will be responsible for development and commercialization in the rest of the world, and will pay Juno a royalty on sales in those territories; and Celgene has certain co-promotion options: Celgene will initially be eligible to select two programs, excluding CD19 and CD22, to be subject to a global profit sharing agreement under which the companies will share worldwide expenses and profits equally, except in China; and Additionally, subject to additional obligations, Celgene may select a third program. Juno will have the option to enter into a co-development and co-commercialization agreement on certain Celgene-originated development candidates that target T Cells. For any such Celgene-originated programs co-developed under the collaboration: The parties will share global costs and profits with 70% allocated to Celgene and 30% allocated to Juno; and Celgene will lead global development and commercialization, subject to a Juno co-promote option in the US and certain EU territories. Upon closing, Juno will receive an upfront payment of approximately $150M, and in addition Celgene will purchase 9,137,672 shares of Juno’s common stock at $93.00 per share. In conjunction with this stock purchase: Celgene will receive the right to nominate a member to Juno’s board of directors; During the 10-year term of the collaboration, Celgene will have the right to purchase additional equity in Juno during specified windows and at specified market premiums subject to satisfaction of certain conditions by each party including Juno opting in on select Celgene programs, such that, at a maximum, Celgene could own up to 30% of Juno’s common stock then outstanding; and Celgene has entered into a standstill agreement and agreed to certain lock-up provisions on its share ownership. This transaction has been approved by the boards of directors of both companies. Celgene and Juno currently expect to complete the transaction during the third quarter of 2015, subject to the expiration or termination of applicable waiting periods under all applicable antitrust laws and satisfaction of other usual and customary closing conditions.
16:08 EDTCELGJuno jumps 45% after announcing immunotherapy collaboration with Celgene
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16:07 EDTCELGCelgene, Juno Therapeutics announce ten year collaboration
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07:37 EDTMUXMcEwen Mining coverage assumed with a Buy at H.C. Wainwright
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07:36 EDTVSTMVerastem coverage assumed with a Buy at H.C. Wainwright
Target $17.
June 26, 2015
11:32 EDTCELGCelgene looks to protect itself from Kyle Bass patent challenges, WSJ says
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June 25, 2015
08:08 EDTZBRAZebra Technologies' Zatar Internet of Things platform selected by Instacart
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June 23, 2015
16:18 EDTALNYAlnylam weakness a buying opportunity, says Deutsche Bank
Deutsche Bank said Alnylam's Phase 1 AT-3 conference presentation update was positive, as expected, supporting safety and efficacy. The firm's analyst said weakness could be due to fast money selling and recommends buying shares on weakness.
14:31 EDTALNYAlnylam reports new positive clinical data for ALN-AT3
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07:03 EDTMDRMcDermott awarded Otis Field Subsea Tieback Project by LLOG
McDermott International has been awarded a “sizeable lump sum contract” by LLOG Exploration Offshore in support of LLOG’s Otis development located in the Gulf of Mexico. The lump sum contract will be included in McDermott’s second quarter 2015 backlog. The Otis field, located in Block Mississippi Canyon 79, will be developed as a subsea tieback to the Delta House floating production system, or FPS, and lies in approximately 3,800 feet of water. McDermott’s Houston office will perform the overall project management and engineering. The flowline and SCR are scheduled to be assembled and fabricated at McDermott’s new spoolbase facility in Gulfport, Mississippi. Offshore installation is scheduled to be completed in early 2016.
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