New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 28, 2014
08:58 EDTECYT, MRK, AZN, RHHBYAnalysts see Endocyte as potential target, Bloomberg says
Analysts at RBC believe Endocyte (ECYT) could see takeover interest from partner Merck (MRK), while Cowen thinks AstraZeneca (AZN) or Roche (RHHBY) could be potentially interested based on the strong results for the company's experimental cancer treatment, according to Bloomberg's "Real M&A" column.
News For ECYT;MRK;AZN;RHHBY From The Last 14 Days
Check below for free stories on ECYT;MRK;AZN;RHHBY the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
August 27, 2014
06:42 EDTMRKMerck initiated with a Hold at Deutsche Bank
Subscribe for More Information
August 26, 2014
08:01 EDTMRKPfizer, Merck to collaborate on study evaluating anti-cancer combination regimen
Subscribe for More Information
August 25, 2014
16:13 EDTMRK, RHHBYOn The Fly: Closing Wrap
Stocks began the session in positive territory and proceeded to tack on gains throughout the morning. Despite a disappointing report on new home sales in July, the S&P surpassed the 2,000 level for the first time before noon. The market pared its gains shortly after the milestone was reached and drifted for the remainder of the session on light volume, as trading activity may be restrained all week ahead of the Labor Day weekend. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity index jumped to 0.39 in July from an upwardly revised 0.21 in June. Markit's preliminary August services PMI came in at 58.5, which was down from a prior reading of 60.8 but above the 58.0 consensus projection. New home sales dropped 2.4% to a 412K rate in July, missing expectations for them to have risen to a 430K annualized rate. COMPANY NEWS: Shares of InterMune (ITMN) surged $19.05, or 35.41%, to $72.85 after the company agreed to be acquired by Roche (RHHBY) for $74.00 per share in an all-cash transaction. The deal announcement comes less than two weeks after Bloomberg reported that Roche, along with big pharma peers Sanofi (SNY) and GlaxoSmithKline (GSK), had made takeover bids for the smaller drugmaker. A number of other biotech companies gained following the deal announcement, including bigger names like Gilead (GILD) and Celgene (CELG) and smaller ones such as Achillion Pharmaceuticals (ACHN) and Receptos (RCPT)... Burger King (BKW) shares rose $5.29, or 19.51%, to $32.40 after the company confirmed it is in talks regarding a potential strategic transaction with Canadian donut chain Tim Hortons (THI). Shares of Tim Horton's trading in New York also gained $11.88, or 18.91%, to $74.72 following the confirmation of news first reported by The Wall Street Journal. MAJOR MOVERS: Among the other notable gainers was Advaxis (ADXS), which advanced 75c, or 23.08%, to $4.00 after announcing it has entered into a clinical trial collaboration agreement with Merck (MRK). Also rising were shares of Comtech (CMTL), which jumped $1.70, or 4.84%, to $36.81 after Reuters said the company is working with Citigroup to explore a potential sale. Among the noteworthy losers was Chinese internet and software company Qihoo 360 Technology (QIHU), which fell $7.88, or 7.74%, to $93.87 despite reporting second quarter earnings and revenue that beat analysts' estimates. Also lower were shares of GrubHub (GRUB), which fell $3.60, or 8.42%, to $39.16 after filing to sell 10M shares of common stock. INDEXES: The Dow gained 75.65, or 0.44%, to 17,076.87, the Nasdaq rose 18.80, or 0.41%, to 4,557.35, and the S&P 500 advanced 9.54, or 0.48%, to 1,997.94.
12:19 EDTRHHBYOn The Fly: Midday Wrap
Subscribe for More Information
10:40 EDTRHHBYBiotechs rise after InterMune acquired by Roche
Subscribe for More Information
10:02 EDTRHHBYRoche unit launches PD-LI antibody
Spring Bioscience, a member of the Roche Group, announced the launch of its PD-L1 rabbit monoclonal immunohistochemistry antibody. This new PD-L1 clone was developed for Roche/Genentech's anti-PD-L1 immunotherapy development program. The SP142 antibody is a component of the clinical trial assay designed by Ventana Medical Systems and used in early and late stage clinical trials for various tumor types including non-small cell lung cancer and urothelial bladder cancer. Internal comparison studies performed at Spring demonstrated that the PD-L1 antibody outperformed other commercially available PD-L1 antibodies.
09:11 EDTMRK, RHHBYOn The Fly: Pre-market Movers
Subscribe for More Information
08:24 EDTRHHBYRoche to hold a conference call
CEO Schwan and CFO Hippe discuss the acquisition of InterMune on a conference call to be held on August 25 at 9 am. Webcast Link
08:23 EDTRHHBYRoche acquisition makes sense, says Bernstein
Subscribe for More Information
07:11 EDTRHHBYInterMune volatility expected to move on Roche acquiring for $8.3B
Subscribe for More Information
06:29 EDTAZNPfizer mulls possible AstraZeneca offer options, FT says
Subscribe for More Information
05:17 EDTMRKAdvaxis, Merck enter clinical trial collaboration agreement
Subscribe for More Information
August 24, 2014
20:27 EDTRHHBYRoche drops pursuit for remainder of Japan's Chugai, Bloomberg says
Subscribe for More Information
13:41 EDTRHHBYRoche to acquire InterMune for $74.00 per share
Roche (RHHBY) and InterMune (ITMN) announced they have entered into a definitive merger agreement for Roche to fully acquire InterMune at a price of $74.00 per share in an all-cash transaction. This corresponds to a total transaction value of $8.3B on a fully diluted basis. This offer represents a premium of 38% to InterMune's closing price on August 22 and a premium of 63% to InterMune's unaffected closing price on August 12. The merger agreement has been approved by the boards of InterMune and Roche. Under the terms of the merger agreement, Roche will commence a tender offer no later than August 29 to acquire all outstanding shares of InterMune common stock, and InterMune will file a recommendation statement containing the unanimous recommendation of the InterMune board that InterMune's shareholders tender their shares to Roche. The transaction is expected to be neutral to core earnings per share in 2015 and accretive from 2016 onwards. The acquisition of InterMune, a Brisbane, California based biotechnology company focused on the research, development and commercialization of innovative therapies in pulmonology and fibrotic diseases, will allow Roche to broaden and strengthen its respiratory portfolio globally. Roche plans a smooth transition of InterMune employees and operations into the Roche organization, ensuring readiness for an expected launch of pirfenidone in the US in 2014. The closing of the transaction is expected to take place in 2014.
August 22, 2014
10:07 EDTAZNOptions with increasing implied volatility: ORPH EXAS AZN
Subscribe for More Information
05:19 EDTAZNStocks with implied volatility movement; JRJC AZN
Subscribe for More Information
August 21, 2014
09:54 EDTAZNPotential Pfizer, AstraZeneca deal seen around year-end, Reuters says
Investors and analysts see Pfizer (PFE) making another attempt to acquire AstraZeneca (AZN) around year-end, even though talks between the two can resume on August 26 per British takeover rules, Reuters reports. Reference Link
07:47 EDTAZNPfizer looking at new targets, including Actavis, Bloomberg reports
While it weighs another attempt to acquire AstraZeneca (AZN), Pfizer is considering other overseas alternatives, including Actavis (ACT), Bloomberg reports, citing people familiar with the matter. Pfizer prefers to reach a deal with AstraZeneca, and a move on another company is unlikely "anytime soon," Bloomberg adds, citing its sources. Shares of Actavis are rising 3%, or $6.65, to $230.01 in pre-market trading, while AstraZeneca is up 2% to $72.59. Reference Link
05:42 EDTAZNIllumina announces strategic partnership with AstraZeneca, Sanofi, Janssen
Illumina (ILMN) announced it has formed collaborative partnerships with leading pharmaceutical companies to develop a universal next-generation sequencing, or NGS,-based oncology test system. The system will be used for clinical trials of targeted cancer therapies with a goal of developing and commercializing a multi-gene panel for therapeutic selection, resulting in a more comprehensive tool for precision medicine. Initial strategic partners include AstraZeneca (AZN), Janssen Biotech, a Johnson & Johnson (JNJ) company, and Sanofi (SNY). Illumina is working with the strategic partners to develop assays that detect and measure multiple variants simultaneously to support partners’ clinical trials, with the objectives of securing regulatory agency approvals and test commercialization. In parallel, Illumina is working with key thought leaders to set standards for NGS-based assays in routine clinical oncology practice, as well as to define regulatory frameworks to enable this new testing paradigm. Together, Illumina and its strategic partners aim to transition from single-analyte companion diagnostics to panel-based assays that select for “companion therapeutics.”
August 19, 2014
07:01 EDTAZNDOJ closes investigation into PLATO Brilinta clinical trial, plans no action
AstraZeneca today announced that it has received confirmation from the United States Department of Justice that it is closing its investigation into PLATO, a clinical trial with BRILINTA tablets. The government is not planning any further action. Pascal Soriot, CEO, said: “We welcome the Department of Justice’s decision not to pursue further action. We have always had absolute confidence in the integrity of the PLATO trial and we are proud of the important benefit BRILINTA offers to patients around the world suffering from acute coronary syndrome. As one of AstraZeneca’s growth platforms, we remain committed to delivering the full potential of this important medicine.” As part of our continued commitment to advancing the science behind cardiovascular medicine, AstraZeneca has initiated a clinical trial program for BRILINTA, its largest program involving more than 80,000 patients worldwide.
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use