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Stock Market & Financial Investment News

News Breaks
May 21, 2014
12:55 EDTRCPT, RCPT, NVS, NVS, BIIB, BIIBSummer Street chief scientific officer holds an analyst/industry conference call
Chief Scientific Officer Classen and Biotech Analyst Werther discuss novel drugs for Multiple Sclerosis, including drugs manufactured by RCPT, NVS and BIIB, on an Analyst/Industry conference call to be held on May 21 at 1:30 pm.
News For RCPT;NVS;BIIB From The Last 14 Days
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July 23, 2015
08:03 EDTBIIBBiogen update 'promising,' says RBC Capital
RBC Capital says that there were negative aspects to yesterday's update on the trial results of Biogen's Alzheimer's treatment. Specifically, the 6 mg version of the drug only slightly improved patients' performance on one cognition test compared with the most recently chosen group of ten patients taking placebos, and did not improve their performance at all on another cognition test. However, RBC says that the drug did improve patients' performance on both tests versus the 20+ patients who were in a previous placebo group. Additionally, the firm reports that the cognition test on which the patients taking the drug outperformed versus the newer placebo group is more widely accepted than the other cognition test. RBC sees a 50%-60% chance that the drug will succeed.
07:00 EDTBIIBBiogen July weekly volatility elevated into Q2 and outlook
Biogen July weekly call option implied volatility is at 77, August is at 37, September is at 34; compared to its 52-week range of 23 to 46, suggesting large near term price movement into the expected release of Q2 results on July 24.
July 22, 2015
10:59 EDTBIIBBiogen drops after reporting data on Alzheimer's drug
The shares of Biogen (BIIB) are falling after the company released data on its Alzheimer's treatment candidate, aducanumab. Peer Eli Lilly (LLY) also reported data this morning on its own experimental Alzheimer's drug, solanezumab. BIOGEN: Biogen's data "does not inspire confidence," Piper analyst Joshua Schimmer wrote in a note to investors today. The 6 mg dose of the drug performed similarly to the 1mg dose, and was barely better than the placebo, the analyst stated. The cognitive and functional performance of the patients who took the 6 mg dose did not improve by a statistically significant amount, while the results of patients taking the other doses were "noisy,"Schimmer stated. Additionally, indications of excess fluid in the brain was observed in a significant number of patients, representing an additional problem for the treatment, the analyst believes. The data "is far from inspiring confidence" and makes the outlook for aducanumab "more speculative than ever," Schimmer contended. LILLY: Also this morning, Eli Lilly presented results from a pre-specified secondary analysis of several Phase 3 studies at the Alzheimer's Association International Conference. According to the company, the results suggest the treatment effect of solanezumab was preserved within a pre-specified amount in patients with mild Alzheimer's disease who received solanezumab earlier in the disease compared to patients who began treatment at a later point. Treatment differences in cognition and function between early-start and delayed-start groups at the end of the placebo-controlled period were preserved at the primary time point of 108 weeks within a pre-defined margin. Treatment differences in cognition and function between early-start and delayed-start groups at the end of the placebo-controlled period were also preserved at an additional time point of 132 weeks within a pre-defined margin.The differences at 108 weeks and at at 132 weeks remained statistically significant, the company said. PRICE ACTION: In morning trading, Biogen fell 3% to $397.43 while Eli Lilly shares rose 0.6% to $86.11.
10:01 EDTBIIBOn The Fly: Analyst Downgrade Summary
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09:28 EDTBIIBBiogen downgraded to Neutral at Piper Jaffray after Alzheimer's data
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09:22 EDTBIIBBiogen downgraded to Neutral from Overweight at Piper Jaffray
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09:07 EDTBIIBOn The Fly: Pre-market Movers
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07:19 EDTBIIBBiogen drops 4.8% to $390 after reporting Alzheimer's drug data
07:03 EDTNVSIgnyta names Bernard Parker as Chief Commercial Officer
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06:50 EDTBIIBBiogen's Alzheimer's candidate shows reduction of clinical decline
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July 21, 2015
11:49 EDTNVSNovartis may sell Amgen's cancer drug as soon as September, Bloomberg says
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10:24 EDTRCPTOptions with decreasing implied volatility
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06:29 EDTRCPTCelgene price target raised to $160 from $147 at Piper Jaffray
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06:24 EDTBIIB, RCPTPiper expects 'stronger, bolder' move from Biogen
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06:12 EDTBIIBBiogen implied volatility of 50 at upper end of index
05:20 EDTNVSNovartis backs FY15 revenue guidance of up mid-single digit
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05:17 EDTNVSNovartis reports Q2 core EPS $1.27, consensus $1.24
Reports Q2 revenue $12.7B, consensus $12.44B. Further strengthening of USD impacted sales by -11% and core operating income by -13%. Growth Products, an indicator of the rejuvenation of the portfolio, contributed 35% of continuing operations net sales in Q2, and were up 24%. In Pharmaceuticals, Growth Products contributed 44% of division net sales in the quarter, and sales for these products were up 38%.
July 20, 2015
10:13 EDTRCPTOptions with decreasing implied volatility
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08:25 EDTNVSNovartis management to meet with JPMorgan
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07:32 EDTBIIB, NVSAlzheimer's Association to hold a conference
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