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Stock Market & Financial Investment News

News Breaks
June 3, 2014
11:57 EDTCLVS, AZNClovis tumbles after Citi calls competing drug superior
Shares of cancer drug developer Clovis (CLVS) are tumbling after Citigroup wrote that the company's CO-1686 drug looks inferior to a competing product, AstraZeneca's (AZN) AZD9291. WHAT'S NEW: After analyzing data from AstraZeneca's treatment for certain non-small cell lung cancer patients, AZD9291, Citigroup analyst Yaron Weber wrote that the drug looks better than CO-1686, a competing offering from Clovis. Previous concerns about AZD9291's cardiovascular side effects were unfounded, as it has not shown any cardiotoxicity signals in pre-clinical or human studies, and only a few patients with certain heart problems have been excluded from taking the drug as a standard precaution, the analyst wrote. Meanwhile, AZD9291, unlike CO-1686, does not occasionally produce increases in QTc, Weber indicated. QTc increases can be associated with heart problems that can cause sudden death. AstraZeneca's drug also, unlike CO-1686, does not produce hyperglycemia in some patients, and it can be taken once a day, the analyst indicated. Overall, AZD9291 has "a cleaner profile," according to Weber. The analyst cut his rating on Clovis to Neutral from Buy and slashed his target on the name to $53 from $109. WHAT'S NOTABLE: Clovis CEO Pat Mahaffay told analysts on Saturday night that "three or four" lung cancer patients in the company's ongoing phase I/II study of CO-1686 were taking insulin to control high blood sugar, The Street's Adam Feuerstein reported. The drug is "turning patients into diabetics," Feuerstein warned. PRICE ACTION: In late morning trading, Clovis tumbled 17% to $39.50, while AstraZeneca lost 1% to $72.50.
News For AZN;CLVS From The Last 14 Days
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December 19, 2014
15:18 EDTAZNAstraZeneca confirms FDA approval of LYNPARZA
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12:12 EDTAZNMyriad Genetics receives FDA approval of BRACAnalysis CDx
Myriad Genetics (MYGN) announced that it has received approval from the U.S. FDA for BRACAnalysis CDx to be used as the only companion diagnostic in conjunction with AstraZeneca's (AZN) drug Lynparza. Lynparza is the first poly ADP-ribose polymerase inhibitor for patients with germline mutations in BRCA1/2 advanced ovarian cancer who have had three or more lines of chemotherapy. BRACAnalysis CDx is Myriad's first FDA-approved companion diagnostic for use with a novel PARP inhibitor. BRACAnalysis CDx is a highly accurate molecular companion diagnostic test that identifies deleterious or suspected deleterious mutations in the BRCA1 and BRCA2 genes, using DNA obtained from a blood sample. BRACAnalysis CDx was proven in clinical studies to effectively identify patients with BRCA mutations who would be candidates for Lynparza. The approval of BRACAnalysis CDx demonstrates Myriad's commitment to developing companion diagnostics and is the culmination of an intensive, multiyear scientific collaboration with AstraZeneca to advance personalized medicine for women with ovarian cancer.
11:45 EDTAZNFDA approves Lynparza to treat advanced ovarian cancer
The U.S. FDA granted accelerated approval to Lynparza, a new drug treatment for women with advanced ovarian cancer associated with defective BRCA genes, as detected by an FDA-approved test. Lynparza is marketed by AstraZeneca Pharmaceuticals, based in Wilmington, Delaware. Reference Link
December 15, 2014
07:33 EDTAZNAdvaxis announces FDA acceptance of INDA to commence clinical trials of ADXS-HPV
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December 11, 2014
16:03 EDTAZNAmgen, AstraZeneca to present results from Phase 3 plaque psoriasis study
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07:28 EDTAZNCBI to hold a summit
2nd Specialty Data Optimization Summit is being held in Philadelphia on December 11.
December 9, 2014
09:10 EDTAZNARIAD takeover rumors rekindled, Independent says
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08:02 EDTAZNMoventig approved in EU for opioid-induced constipation
Nektar (NKTR) reported partner AstraZeneca (AZN) announced that MOVENTIG has been granted Marketing Authorisation by the European Commission for the treatment of opioid-induced constipation in adult patients who have had an inadequate response to laxative. MOVENTIG is the first once-daily oral peripherally-acting mu-opioid receptor antagonist to be approved in the European Union.
07:44 EDTAZNAmerican Association for Cancer Research to hold a symposium
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December 8, 2014
07:05 EDTAZNInnocoll appoints Tony Zook as CEO
Innocoll AG (INNL) announced that Tony Zook, formerly executive vice president, Global Commercial Operations, at AstraZeneca (AZN), has been appointed CEO effectively immediately. Michael Myers, will continue with the company as head of Portfolio Operations.

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