Pharmacyclics upgraded to Buy from Hold at WallachBeth WallachBeth upgraded Pharmacyclics to Buy on expectations Imbruvica sales momentum can continue in the second half of 2014. The firm has a $160 price target for shares.
Pharmacyclics, Server agree to end pan-HDAC inhibitor collaboration Pharmacyclics and Servier announced that they have mutually and amicably ended their collaboration pertaining to the ex-U.S. development of Pharmacyclics' pan-HDAC inhibitor compounds involving abexinostat, thereby returning global development and commercialization rights to Pharmacyclics. A provisional patent application for abexinostat tosylate was filed with the U.S. Patent and Trademark Office in 2013 and, if issued, would extend patent protection until 2034. Pharmacyclics will evaluate the full opportunity that the compound may afford, and plans to provide an update on this program in mid 2015.