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News Breaks
June 13, 2014
08:04 EDTCELG, AGIOAgios says Celgene exercised option to license AG-221
Agios Pharmaceuticals (AGIO) announced that its partner Celgene (CELG) has exercised its option to an exclusive worldwide license to AG-221, an oral, first-in-class, potent inhibitor of the mutant IDH2 protein. Under the terms of the agreement, the option to license extended to Celgene through the end of Phase 1, but AG-221 has been exercised early based on the Phase 1 data generated to date. AG-221 is currently in a Phase 1 dose escalation study in patients that harbor an IDH2 mutation with advanced hematologic malignancies, including acute myeloid leukemia. Agios and Celgene entered into a global strategic collaboration in April 2010 to develop new therapeutics targeting cancer metabolism. By exercising its exclusive option under the terms of the agreement, Celgene gains worldwide development and commercialization rights for AG-221. Agios, in addition to contributing its scientific and translational expertise, will continue to conduct early clinical development and regulatory activities within the AG-221 development program in collaboration with Celgene. Celgene is responsible for all development costs for AG-221. Agios is eligible for up to $120 million in milestone payments and a tiered royalty on any net sales. Agios also has the right to conduct a portion of any commercialization activities for AG-221 in the United States. AG-221 is part of Agiosí IDH portfolio that also includes the IDH1 mutant inhibitor AG-120, which the company continues to develop and is in Phase 1 clinical trials in advanced solid tumors and hematologic malignancies. Agios retains U.S. rights to the IDH1 program, and Celgene has an exclusive option to ex-U.S. rights for the program. Agios continues to advance its discovery and research of cancer metabolism targets.
News For AGIO;CELG From The Last 14 Days
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February 11, 2016
07:36 EDTCELGCelgene names Alles, Fouse to board of directors
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February 10, 2016
06:33 EDTCELGCelgene expands use of Medidata's cloud platform
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February 8, 2016
07:32 EDTAGIOAgios Pharmaceuticals appoints Steve Hoerter as Chief Commercial Officer
Agios Pharmaceuticals announced the appointment of Steve Hoerter to the newly created position of chief commercial officer, effective February 16. Hoerter has more than 20 years of global pharmaceutical and biotechnology experience, most recently having served as executive vice president and chief commercial officer at Clovis Oncology, Inc. as well as previous senior commercial roles at Genentech and Roche.
February 7, 2016
20:36 EDTCELGOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Ford (F) plans to build a new assembly plant in Mexico and expand its existing factory near Mexico City, sharply increasing production capacity in the country as it looks to focus its U.S. efforts on trucks and SUVs, the Wall Street Journal reported. 2. GoPro (GPRO) and Microsoft (MSFT) signed a patent licensing agreement late Friday, lifting shares of the action camera maker in after-hours trading. 3. Media reports indicate Twitter (TWTR) could be rethinking its news feed, potentially ordering posts based on popularity rather than chronological date. 4. Apollo Education (APOL) received a second investigative subpoena from California's attorney general related to the marketing, recruiting, accreditation, and other aspects of its for-profit schools. 5. Celgene (CELG), Gilead (GILD), Thermo Fisher (TMO) and Vantiv (VNTV) were mentioned positively by Barron's this weekend, while Church & Dwight (CHD) was called overvalued and GoPro was identified as a possible takeover target by Under Armour (UA) or Sony (SNE).
12:38 EDTCELGCelgene, Gilead too cheap to ignore, could rise 30% in next year, Barron's says
Shares of Celgene (CELG) and Gilead (GILD) could advance 30% over the next year, Barron's contends in a feature article. Concerns over the two firms having too much revenue concentrated in just a few key products are legitimate but "solvable," and their shares now look "too cheap to ignore" amid the general rout in biotech names, the publication says. Reference Link
February 5, 2016
09:26 EDTCELGLeerink biotech analyst holds an analyst/industry conference call
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06:04 EDTCELGCelgene resumed with a Market Perform at Leerink
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February 4, 2016
16:37 EDTCELGCelgene reinitiated with a Market Perform at Leerink
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10:36 EDTCELGCelgene February weekly calls activity attributed to takeover speculation
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10:31 EDTCELGRumor: Celgene strength attributed to takeover speculation
Shares of Celgene (CELG) are moving higher amid renewed speculation Bristol-Meyers (BMY) is interested in acquiring the company.
February 3, 2016
08:57 EDTCELGPullback in biotech makes M&A more attractive, says UBS
UBS analyst Andrew Peters noted the pullback in small and mid-cap biotechs and said a consequence of the lower valuations may be an increased appetite for M&A by the larger firms. Peters noted Gilead (GILD) commented on its earnings call that "there's no question" the pullback has made M&A more attractive. UBS said with valuations so far off their highs, the question remains whether management and boards will accept deals at such depressed levels.
February 2, 2016
08:53 EDTCELGPiper Jaffray biopharma analyst holds an analyst/industry conference call
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January 29, 2016
08:17 EDTCELGCelgene fundamentals, valuation compelling, says Cantor
Cantor says that Celgene's sell-off was not caused by its results, but by other factors such as currency fluctuations. The firm says that the company's EPs growth remains strong, while its pipeline can enable the company to keep growing over the longer term. The firm continues to expect the company to generate strong cash flow, and it reiterates a $163 price target and Buy rating on the shares.
08:06 EDTCELGUBS said no change to bullish stance on Celgene
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