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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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April 23, 2015
15:01 EDTAZNNotable companies reporting before tomorrow's open
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08:25 EDTAZNJuno Therapeutics, MedImmune announce immuno-oncology trial collaboration
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April 22, 2015
08:04 EDTAZNBIND Therapeutics presents data on BIND-014, AZD2811 at AACR
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April 21, 2015
07:06 EDTAZNBina Tech, AstraZeneca announce collaborative agreement for GMS
Bina Technologies, a member of the Roche Group (RHHBY), and AstraZeneca (AZN) announced that they have entered into an agreement for AstraZeneca to become the first member to join the Bina Alliance Program and to further develop the Bina Genomic Management Solution. AstraZeneca will utilize the Bina GMS as an enterprise platform to support its development work across three main therapeutic areas: oncology, cardiovascular and metabolic disease, and respiratory, inflammation and autoimmunity. Bina’s proprietary technology enables translational and academic researchers to perform fast and scalable analyses to maximize the value of genomic data. Under the terms of the agreement, AstraZeneca will adopt Bina GMS globally to support enterprise genomic data analysis and management. Bina in turn will provide AstraZeneca with direct access to its scientific and engineering teams to further develop the Bina GMS for pharmaceutical applications.
April 20, 2015
06:02 EDTCLVS, AZNClovis pullback on Astra data a buying opportunity, says Mizuho
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April 17, 2015
06:52 EDTAZNAstraZeneca granted FDA orphan drug designation for selumetinib
AstraZeneca announced that the FDA has granted orphan drug designation for the MEK inhibitor selumetinib, for the treatment of uveal melanoma, a rare disease in which cancer cells form in the tissues of the eye.
06:50 EDTAZNAstra reports median progression free survival of 13.5 months in AURA study
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April 16, 2015
09:12 EDTAZNAstraZeneca granted orphan status for melanoma treatment
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07:58 EDTAZNAstraZeneca's MedImmune, Immunocore announce new collaboration agreement
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April 15, 2015
11:50 EDTAZNAstraZeneca initiated with a Buy at Societe Generale
07:41 EDTAZNEBD Group to hold a forum
ChinaBio Partnering Forum 2015 is being held in Shanghai, China on April 15-16.
April 14, 2015
12:06 EDTAZNFDA panel accepts Onglyza's safety profile in 13-1 vote
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07:15 EDTAZNFDA Endocrinologic & Metabolic Drugs Advisory Committee holds a meeting
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April 13, 2015
16:21 EDTCLVSOn The Fly: Top stock stories for Monday
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10:15 EDTCLVSHigh option volume stocks
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10:00 EDTCLVSOn The Fly: Analyst Upgrade Summary
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09:20 EDTCLVSOn The Fly: Pre-market Movers
HIGHER: Builders FirstSource (BLDR), up 54.35% after acquiring ProBuild in all-cash transaction... Arrowhead (ARWR), up 14.3% after being cleared to proceed with multiple dose Phase 2b study of ARC-520... Oramed Pharmaceuticals (ORMP), up 6.9% after enrolling first patient in glucose clamp study for oral insulin... Clovis Oncology (CLVS), up 8.2% after being upgraded to Buy from Neutral at Goldman... Quantum (QTM), up 3.2% after announcing go-to-market partnership with Dot Hill Systems (HILL)... Netflix (NFLX), up 3.4% after being upgraded to Buy from Neutral at UBS... Apple (AAPL), up just under 1% following reports of Apple Watch orders. LOWER: Sina (SINA), down 3% following a report from the Financial Times that China may shut down the company if censorship doesn't improve... Ruckus Wireless (RKUS), down 2.9% after being downgraded to Buy from Conviction Buy at Goldman... Allot Communications (ALLT), down 2.7% after being downgraded to Hold from Buy at Needham.
08:58 EDTAZNMerck may have positive read through from briefing docs, says SunTrust
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08:54 EDTAZNAstraZeneca has negative read through from briefing docs, says SunTrust
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06:43 EDTCLVSClovis upgraded to Buy from Neutral at Goldman
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