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News Breaks
March 5, 2014
07:40 EDTSNY, POZNPOZEN says reduced R&D staff, other costs as part of controlling expenses
POZEN (POZN) said, "For FY14, the company’s areas of strategic focus are obtaining FDA approval for PA8140/PA32540, transitioning all licensed know-how relating to PA8140/PA32540 in the U.S. and fulfilling all contractual obligations to Sanofi (SNY) U.S., completing study PA10040-102, an additional Phase 1 pharmacodynamics study, preparing the regulatory filing document for PA product candidates in the European Union, finding partners for the PA asset in ex-U.S. territories, and controlling expenses. As part of controlling expenses, we have reduced our R&D staff and other costs and in the future will continue to reduce staff not required to support our ongoing business activities. Our board of directors and management team continue to explore potential ways to return value to our shareholders, including future cash distributions when we accumulate surplus cash as a result of receiving milestones and royalties from our commercial partners."
News For POZN;SNY From The Last 14 Days
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February 5, 2016
13:20 EDTPOZNPOZEN, Tribute complete combination to create Aralez Pharmaceuticals
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February 2, 2016
11:09 EDTSNYSanofi plans to cut 600 jobs in France over three years, Bloomberg reports
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09:04 EDTPOZNPOZEN's stockholders approved merger with Tribute Pharma Canada
POZEN announced that its stockholders approved the Agreement and Plan of Merger and Arrangement with Tribute Pharmaceuticals Canada and the carrying out of the transactions contained therein. Upon closing of the transaction, the POZEN and Tribute businesses will operate as subsidiaries of Aralez Pharmaceuticals, a company domiciled in Canada. The Merger Agreement was also adopted by the Tribute shareholders on February 1. The proposed transaction remains subject to certain conditions and approvals, including approval of the Ontario Superior Court of Justice, listing of Aralez shares and customary closing conditions, and is expected to occur promptly following satisfaction of all conditions. Aralez will be listed on the NASDAQ stock exchange under the ticker symbol "ARLZ" and is expected to begin trading on or about February 8 and will be listed on the Toronto Stock Exchange under the ticker symbol "ARZ" and is expected to begin trading on on or about February 10, assuming closing on February 5.
07:24 EDTSNYSanofi, Merck mulling exiting vaccine JV, Bloomberg reports
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05:19 EDTSNYSanofi Pasteur launches R&D project targeting prevention of Zika virus infection
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February 1, 2016
14:49 EDTPOZNPOZEN to host special shareholder meeting
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January 29, 2016
13:38 EDTSNYAmgen wins right to allege willful infringement in Praluent suit, Markman says
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January 26, 2016
15:31 EDTSNYMannKind exploring potential sale, Reuters reports
MannKind (MNKD), whose shares have plunged 40% since Sanofi (SNY) terminated an agreement for the development and commercialization of inhaled insulin drug Afrezza, is now exploring its strategic options, including a potential sale, reported Reuters, citing people familiar with the matter. MannKind shares are up about 20% to 90c in afternoon trading following the report. Reference Link
January 25, 2016
10:55 EDTSNYRegeneron slips after analyst says sell to avoid risk from Amgen patent suit
Shares of Regeneron Pharmaceuticals (REGN) fell in morning trading after an analyst at Chardan downgraded the stock to Sell, citing risk from a patent lawsuit in which the biopharmaceutical company is involved. CHARDAN SAYS SELL: Chardan Capital Markets analyst Gbola Amusa downgraded Regeneron to Sell from Neutral this morning, while reducing his price target on shares to $400 from $525. In a note to clients, Amusa said he believes that Regeneron is likely to face significant risks from the upcoming patent infringement case for Praluent. The suit could be a key driver of the company's share price performance in the near future, the analyst said. Regeneron, along with its partner Sanofi (SNY), launched Praluent in the U.S. last year, after the October 2014 filing of a patent infringement suit by Amgen (AMGN) relating to patents for "monoclonal antibodies that bind PCSK9," Amusa noted. The analyst believes that since Regeneron and Sanofi "likely" infringe Amgen's patents for Repatha, the Regeneron-Sanofi partnership could seek to settle the ahead of the trial by agreeing to pay 10%-20% or more of royalties to Amgen for U.S. Praluent sales. Amusa said that "such an outcome we estimate could transfer roughly $750M of operating income per year to Amgen." Further, Amusa said that catalysts surrounding the patent infringement trial are "likely to play out from late February to late March," and concedes that "both sides have good reasons to settle this case for a reasonable royalty." INCREASING COMPETITION: Amusa also noted that he sees increasing competitive risks in 2016 to Regeneron's Eylea from Novartis (NVS) and its partner Ophthotech (OPHT), which continue to progress Fovista into Phase III trials in wet AMD. WHAT'S NOTABLE: Roth Capital upgraded Regeneron to Buy from Neutral on January 19, based on valuation, as the firm said shares do not reflect the value of the company's upcoming catalysts. The firm also raised its price target to $555 from $543. The same day, Credit Suisse initiated Regeneron with a Neutral rating and $552 target. PRICE TARGET: Regeneron slipped 1.4% to $476.02 in morning trading.

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