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Stock Market & Financial Investment News

News Breaks
June 3, 2014
11:57 EDTAZN, CLVSClovis 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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October 23, 2014
16:54 EDTCLVSClovis announces first patient enrolled in lucitanib Phase 2 study
Clovis Oncology announced that its global Phase 2 study of lucitanib in patients with FGFR1-amplified squamous non-small cell lung cancer, or NSCLC, has commenced and the first patient has been dosed at a U.S. study site. Lucitanib is the company’s oral, potent inhibitor of the tyrosine kinase activity of fibroblast growth factor receptors 1 through 3 vascular endothelial growth factor receptors 1 through 3 and platelet-derived growth factor receptors alpha and beta. The Phase 2 study will enroll FGFR1-amplified squamous NSCLC patients with advanced disease who have progressed on at least one prior line of therapy. The global study will assess objective response rate, progression-free survival, and duration of response, as well as the safety, tolerability, and pharmacokinetics of lucitanib.
October 22, 2014
07:35 EDTAZNCardiometabolic Health Congress to hold annual meeting
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October 21, 2014
07:15 EDTAZNFDA to hold workshop on breast cancer drug development
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06:10 EDTAZNInovio, MedImmune, UPENN awarded $12.2M collaborative study by DARPA
Inovio Pharmaceuticals (INO) announced the Defense Advanced Research Projects Agency, or DARPA, has awarded $12.2M for a collaborative study that will be conducted by scientists from the Perelman School of Medicine at the University of Pennsylvania; Inovio Pharmaceuticals; and MedImmune, the global biologics research and development arm of AstraZeneca (AZN). The group will develop DNA-based monoclonal antibodies, or mAbs, for infectious disease treatment. DARPA is an agency of the US Department of Defense that creates and supports novel technologies important for national security. Together, the three organizations will develop and assess the DNA mAbs in preclinical studies using technology developed by Penn and licensed by Inovio. The collaboration will focus on three disease areas – influenza virus, Pseudomonas aeruginosa and Staphylococcus aureus.
October 20, 2014
07:47 EDTAZNPfizer less likely to renew Astra pursuit after Shire deal breakdown, FT says
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07:19 EDTAZNIBC Life Sciences to hold a conference
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07:14 EDTAZNEuropean College of Neuropsychopharmacology to hold a conference
27th ECNP Congress is being held in Berlin, Germany on October 18-21.
October 15, 2014
10:48 EDTAZNShire tanks with AbbVie calling board meeting over merger
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October 14, 2014
11:23 EDTAZNBIND Therapeutics and The Conference Forum hold a conference
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October 13, 2014
10:08 EDTAZNOn The Fly: Analyst Upgrade Summary
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09:21 EDTAZNOn The Fly: Pre-market Movers
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07:53 EDTAZNAstraZeneca upgraded to Buy from Hold at Jefferies
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05:27 EDTAZNAstraZeneca upgraded to Buy from Hold at Jefferies
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October 9, 2014
08:10 EDTAZNAstraZeneca reports Phase IIb study of benralizumab met primary endpoint
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