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Stock Market & Financial Investment News

News Breaks
February 19, 2014
08:17 EDTSNY, RGLSRegulus Therapeutics nominates RG-102 as Orphan Drug candidate
Regulus Therapeutics (RGLS) nominated its second microRNA candidate for clinical development, RG-012, an anti-miR targeting microRNA-21 for the treatment of Alport Syndrome, a life-threatening, genetic kidney disease with no approved therapy. Regulus is responsible for advancing RG-012 to proof-of-concept. At that stage of development, Regulus' strategic alliance partner, Sanofi (SNY), has an exclusive option exercisable after proof-of-concept to assume all costs, responsibilities and obligations for further development and commercialization of RG-012. If Sanofi chooses to exercise its option on RG-012, Sanofi will reimburse Regulus for a significant portion of its preclinical and clinical development costs and will pay Regulus an option exercise fee. Regulus is eligible to receive development and commercialization milestone payments and will have an option to co-promote in the United States or receive royalty payments in the mid 10% to 20% range.
News For RGLS;SNY From The Last 14 Days
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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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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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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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