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Stock Market & Financial Investment News

News Breaks
August 25, 2014
16:38 EDTKITEKite Pharma announces positive phase 1-2a results, sees 92% objective response
Kite Pharma announced the publication of clinical results in a cohort of patients demonstrating the potential to treat aggressive non-Hodgkin's lymphoma with an anti-CD19 chimeric antigen receptor, or CAR, T cell therapy. Kite's most advanced product candidate, KTE-C19, is an anti-CD19 CAR T cell therapy that involves genetically modifying a patient's T cells to express a CAR that is designed to target CD19, a protein expressed on the cell surface of B cell lymphomas and leukemias. The findings from an ongoing Phase 1-2a clinical trial funded by Kite and conducted by the Surgery Branch of the National Cancer Institute, or NCI, demonstrated that in 12 out of 13 evaluable patients with advanced B-cell malignancies, administration of anti-CD19 CAR T cells resulted in complete remission in eight patients and partial remission in four patients, representing an overall objective response rate of 92%. Of seven evaluable patients with chemotherapy-refractory Diffuse Large B-cell Lymphomr, or DLBCL, four achieved complete remission, three of which are ongoing with durations ranging from 9 to 22 months. "We are greatly encouraged by the strong results we have seen from our joint lead clinical program with the NCI," commented Arie Belldegrun, Kite's president and CEO. "Based on this substantial progress, Kite plans to file an IND in Q4 of this year to initiate a Phase 1-2 single-arm multicenter clinical trial of KTE-C19 in patients with DLBCL who have failed two or more lines of therapy. We are excited to advance this promising therapy and anticipate commencing patient enrollment in our DLBCL clinical trial in the first half of 2015."
News For KITE From The Last 14 Days
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August 17, 2015
13:30 EDTKITEOn The Fly: Top stock stories at midday
Stocks began the session deep in negative territory after a disappointing Empire Manufacturing report. The data got the market off to a weak start as optimism over last week's finish began to fade. The averages continued to drift in a narrow range for the opening hour before reversing and capturing the opening losses. Each of the major equity indices is now back in positive territory sporting slight gains across the board. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index plunged to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009. The employment component slid to 1.82, while new orders crashed to -15.70. Meanwhile, the U.S. NAHB homebuilder sentiment index rose to 61 in August from 60 in June and and is the highest since November 2005. The single family sales index edged up to 66 versus a revised 65 last month, while the index of prospective buyer traffic improved to 45 versus 43 previously. In Europe, various Eurozone parliaments prepare to vote on Greece's new EUR86B bailout plan this week. COMPANY NEWS: Liberty Interactive (QVCA) announced this morning an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B, driving zulily shares up more than 47% in intraday trading. The acquisition will be attributed to Liberty's QVC Group tracking stock, though QVC and zulily will be operated as separate consumer facing brands. On a conference call discussing the acquisition, Liberty Interactive executives noted that the "highly efficient" deal will allow Liberty to reach a younger base. MAJOR MOVERS: Among the notable gainers AVEO Oncology (AVEO), which rose roughly 50% after announcing a license agreement with Novartis (NVS) for the development and commercialization of AVEO's AV-380 drug and related antibodies. Also higher was Kite Pharma (KITE), which advanced roughly 5.4% after clarifying that an earlier patient death in its Phase 1/2 KTE-C19 trial for non-Hodgkin's lymphoma was unrelated to Kite's therapy. Additionally, shares of Target (TGT) have gained roughly 10c despite lingering in negative territory early Monday after the company promoted CFO John Mulligan to the newly created role of EVP and COO and appointed Cathy Smith as EVP and CFO. Prior to joining Target, Smith served as EVP and CFO at St. Louis-based Express Scripts (ESRX). Among the noteworthy losers was KKR (KKR), which lost roughly 2.4% after Samson Resources announced a restructuring agreement late Friday, adding that it expects to file for bankruptcy within 30 days. Also lower was Estee Lauder (EL), which declined nearly 6.5% after its quarterly guidance missed analysts' estimates. INDEXES: Near midday, The Dow was up 65.11, or 0.37%, to 17,542.51, the Nasdaq gained 34.73, or 0.69%, to 5,082.96, and the S&P 500 advanced 8.80, or 0.42%, to 2,101.03.
10:21 EDTKITEMizuho's Lawson sees 'no reason for concern' after Kite Pharma call
Mizuho analyst Peter Lawson said he sees "no reason for concern" after Kite Pharma hosted a conference call to address a patient that died during its clinical trial. The call provided "sufficient insight to back up the press release," Lawson tells investors in a research note. He keeps a Buy rating on Kite with a $90 price target.
10:09 EDTKITEOn The Fly: Analyst Initiation Summary
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09:40 EDTKITEKite Pharma initiated with a Buy at Standpoint Research
Target $100.
09:26 EDTKITEOn The Fly: Pre-market Movers
HIGHER: AVEO (AVEO), up 119.7% after announcing licensing agreement with Novartis (NVS)... OHR Pharmaceutical (OHRP), up 24.9% after Soros reports new stake in company in 13F filing... Kite Pharma (KITE), up 4.6% after saying patient death unrelated to KTE-C19... Tesla (TSLA), up 5.5% after price target raised to $465 from $280 at Morgan Stanley... Mobileye (MBLY), up 2.7% after price target raised to $80 from $71 at Morgan Stanley... J.C. Penney (JCP), up 1.5% after being initiated with a Buy at B. Riley and Piper Jaffray raised its price target to $17 from $15. DOWN AFTER EARNINGS: Estee Lauder (EL), down 2.1% after reporting quarterly results and giving guidance for first quarter and fiscal 2016. ALSO LOWER: KKR (KKR), down 3.3% after Samson enters restructuring deal and expects to file for bankruptcy within 30 days... Aquinox (AQXP), down 4.7% after Lloyd Mackenzie, vice president - Technical Operations and Planning, disclosed late Friday the sale of 35,887 shares worth over $670,000 in a sale related to the exercise of options.
09:19 EDTKITEKite Pharma jumps 7% with conference call ongoing
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09:12 EDTKITEKite Pharma CEO says 'we have seen tumors melting away in weeks'
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09:05 EDTKITEKite Pharma CEO says KTE-C19 trial responses 'impressive' to date
Arie Belldegrun is speaking on the company's conference call.
09:05 EDTKITEKite Pharma CEO says KTE-C19 trial has never been on clinical hold
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08:56 EDTKITEKite Pharma press release helps address a lot of the chatter, says Mizuho
Mizuho analyst Peter Lawson says this morning's press release by Kite Pharma helps address a lot of the chatter surrounding the patient death in the KTE-C19 clinical trial. Specifically, Lawson notes Kite stated that "complete responses have been observed by investigators" and that "toxicities associated with treatment have been similar to those observed in the National Cancer Institute's study of anti-CD19 CAR T cell therapy." He has a Buy rating on Kite with a $90 price target.
08:53 EDTKITEKite Pharma up after saying patient death unrelated to KTE-C19
Shares of Kite Pharma are moving higher after the company announced in a press release that the one patient death, which occurred early in the ongoing Phase 1/2 clinical trial of KTE-C19 in patients with refractory aggressive non-Hodgkin's lymphoma who have failed prior chemotherapy treatments and have a poor prognosis, was determined to be unrelated to KTE-C19 by the study investigator. "We are encouraged by the progress of the KTE-C19 clinical trial and excited by the responses we have seen so far. We believe the KTE-C19 clinical findings are in line with previous results demonstrating the potential of this promising therapeutic approach," said Arie Belldegrun, CEO of Kite. The stock is up $1.50 to $59.50 in pre-market trading after pulling back on Friday.
08:07 EDTKITEKite Pharma provides update on KTE-C19 clinical trial
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05:52 EDTKITEKite Pharma to host business news update conference call
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August 14, 2015
16:57 EDTKITESoros gives quarterly update on stakes, increases Facebook position
NEW STAKES: Time Warner Cable (TWC), Schwab (SCHW), Alcoa (AA), NRG Energy (NRG), and Pacira (PCRX). INCREASED STAKES: Facebook (FB), Monsanto (MON), Nextera (NEE), Qunar (QUNR), and Rovi (ROVI). DECREASED STAKES: Alibaba (BABA), General Motors (GM), Motorola Solutions (MSI), EQT Corp (EQT), and Noble Energy (NBL). LIQUIDATED STAKES: Cenovus (CVE), Kite Pharma (KITE), Tempur Sealy (TPX), CF Industries (CF), and Suncor Energy (SU).
12:47 EDTKITEKite Pharma shares defended at Stifel
12:08 EDTKITEKite Pharma near session lows, levels to watch
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12:02 EDTKITEGuggenheim says buy Kite Pharma on patient death selloff
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