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News Breaks
November 28, 2012
07:38 EDTCNDOCoronado Biosciences initiates Phase 1/2 trial of CNDO-109
Coronado Biosciences announced the initiation of a phase 1/2 dose escalation trial of allogeneic natural killer, or NK, cells activated by the Company's CNDO-109 in patients in first complete remission from acute myeloid leukemia, or AML, and who are deemed high-risk for relapse. The phase 1/2 trial is a multi-center, open-label, single-dose, dose-escalating clinical study designed to examine the safety of CNDO-109 activated allogeneic NK cells, as well as the relapse-free survival and overall survival in adult patients with AML. Up to 36 patients who are in CR1 from AML at the time of enrollment, and who are at high-risk for relapse, will be infused with a preparatory regimen of cyclophosphamide and fludarabine followed by a single dose of allogeneic NK cells activated by CNDO-109.
News For CNDO From The Last 14 Days
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March 19, 2015
13:00 EDTCNDOOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with Nasdaq slightly higher and the Dow and S&P 500 both down a bit more than 0.5%. The day’s economic reports were generally benign and are likely less significant to the trading action than participants having had some time to digest yesterday’s Fed comments. Immediately after the Fed's policy statement yesterday, the U.S. dollar fell as low as 1.10 against the euro, but that move was almost entirely reversed overnight. The dollar was back near pre-Fed levels against the euro early this morning, and similar moves were seen in pairs of the dollar and other major currencies. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. In Europe, the Swiss National Bank left rates unchanged, cut its growth forecasts for the country's economy, said that it will intervene in currency markets as needed since it believes the Swiss Franc remains overvalued. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average today, replacing AT&T (T). Shares of the iPhone maker were down 0.5% near midday, while AT&T stock fell a bit more than 1%... Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $98.50 earlier this afternoon following the company's investor day meeting yesterday. In conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. MAJOR MOVERS: Among the notable gainers was Coronado Biosciences (CNDO), which gained 42% after announcing the formation of a new company, Mustang Therapeutics, focused on Chimeric Antigen Receptor, or CAR-T, technology. The company also announced a licensing agreement with NeuPharma for EGFR inhibitors. Also higher was Guess (GES), which gained 15% after reporting higher than expected profits for its fiscal fourth quarter. Among the noteworthy losers was Transocean (RIG), which fell 6% after having announced last night that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI (E) for the Transocean Amirante was terminated. Transocean also said it intends to scrap four rigs, noting that with those it has announced plans to scrap a total of 16 floaters. Also lower following its earnings report was diversified apparel company Vince Holding (VNCE), which fell 16%. INDEXES: Near midday, the Dow was down 128.51, or 0.71%, to 17,947.68, the Nasdaq was up 3.15, or 0.06%, to 4,985.98, and the S&P 500 was down 13.36, or 0.64%, to 2,086.14.
11:43 EDTCNDOCoronado Biosciences volatility up, announces formation of Mustang Therapeutics
Coronado Biosciences April call option implied volatility is at 129, May is at 100, August is at 93; compared to its 26-week average of 87 according to Track Data, suggesting large price movement after announcing formation of Mustang Therapeutics and licensing agreement with NeuPharma for EGFR inhibitors.
09:20 EDTCNDOOn The Fly: Pre-market Movers
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07:35 EDTCNDOCoronado announces formation of Mustang Therapeutics
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07:10 EDTCNDOCoronado announces licensing agreement with NeuPharma for EGFR inhibitors
Coronado Biosciences announced the execution of an exclusive license agreement with NeuPharma to develop and commercialize novel irreversible, 3rd Generation EGFR inhibitors on a worldwide basis outside of certain Asian countries. The program is currently in pre-clinical development. Under the terms of the agreement, Coronado will pay NeuPharma an up-front licensing fee as well as make development and sales-based milestone payments and will pay a tiered single digit royalty on net sales. Lindsay Rosenwald, Coronado chairman and CEO stated, "NeuPharma has a portfolio of these inhibitors, the most advanced of which could reach the clinic in the first half of 2016."

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