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Stock Market & Financial Investment News

News Breaks
June 27, 2014
08:01 EDTRNAProsensa awarded $200K research grant
Prosensa announced that Judith van Deutekom, Prosensa's vice president of drug discovery, has been awarded a $200K research grant from Parent Project Muscular Dystrophy to fund the development of a multi exon-skipping strategy for exons 10-30 of the dystrophin gene. The project titled "Single AON-induced multiple exon skipping in the mdx mouse model" will focus on obtaining proof-of-concept in the mdx mouse model. The studies are expected to be completed in 2H15.
News For RNA From The Last 14 Days
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November 26, 2014
14:57 EDTRNAResearchers publish early findings on muscular dystrophy gene fix, Nikkei says
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November 25, 2014
10:10 EDTRNAHigh option volume stocks
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10:00 EDTRNAOn The Fly: Analyst Downgrade Summary
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08:51 EDTRNASarepta outlook unchanged after BioMarin deal, says Roth Capital
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08:38 EDTRNAProsensa downgraded to Neutral from Buy at Roth Capital
Roth Capital downgraded Prosensa (RNA) after the company agreed to be acquired by BioMarin (BMRN).
07:33 EDTRNABioMarin price target raised to $100 from $87 at Jefferies
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November 24, 2014
16:34 EDTRNAOn The Fly: Closing Wrap
Stocks on Wall Street opened in quiet fashion and trading remained that way throughout the day. The Dow and S&P moved in a narrow range and hugged the flat line, while the Nasdaq drifted steadily higher and added nearly 1% by the close of trade. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index fell to 0.14 in October, versus expectations for a reading of 0.33. Markit's services PMI fell to 56.3 in the flash reading for November, versus expectations for a slight increase to 57.3 from its prior reading of 57.1. The Dallas Fed manufacturing index was steady at 10.5 in November, versus expectations for a 9.0 reading. Overseas, the euro area’s largest economy, Germany, saw a business climate index advance to 104.7 in November from 103.2 in October, beating economists' prediction for a decline to a reading of 103. COMPANY NEWS: Apple (AAPL) had a role in the Nasdaq's outperformance, as the tech giant climbed after a number of research firms, including Susquehanna, Cantor and KGI Research, were upbeat on the outlook for the company's performance during the holiday season. The iPhone maker's stock rose $2.15, or 1.85%, to close at $118.62 to close just below the 52-week high of $118.77 it hit late in the session... United Technologies (UTX) fell $1.51, or 1.37%, to $108.79 after the Dow member announced that Louis Chenevert had retired as Chairman and CEO, effective immediately. The company reaffirmed its expectations for 2014 earnings per share and sales, but provided little information regarding the abrupt exit of the executive. MAJOR MOVERS: Among the notable gainers was Prosensa (RNA), which surged $7.16, or 62.59%, to $18.60 after the small drugmaker agreed to be acquired by larger BioMarin (BMRN). After the deal announcement BioMarin shares also rose $2.11, or 2.46%, to $87.94, while Sarepta Therapeutics (SRPT), which is working on a Duchenne muscular dystrophy treatment to rival Prosensa's, advanced 88c, or 5.59%, to $16.61. Also higher was Cimatron (CIMT), which jumped $2.57, or 42.27%, to $8.65 after 3D Systems (DDD) agreed to buy the company for approximately $97M, or $8.97 per share, in cash. Among the noteworthy losers was Ring Energy (REI), which fell $1.28, or 9.54%, to $12.14 after Canaccord downgraded the stock to Hold from Buy, citing the the recent decline in crude oil prices and the potential need for the company to raise capital. Also lower were shares of Potash (POT), which fell $2.23, or 6.09%, to $34.40, and Mosaic (MOS), which slid $1.75, or 3.71%, to $45.46 after Russia's Uralkali, the world's largest potash producer, was reported to be set to start repair work at part of its damaged mine. INDEXES: The Dow added 7.84, or 0.04%, to 17,817.90, the Nasdaq rose 41.92, or 0.89%, to 4,754.89, and the S&P 500 gained 5.91, or 0.29%, to 2,069.41.
12:59 EDTRNAOn The Fly: Midday Wrap
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12:21 EDTRNABioMarin rises after agreeing to buy DMD drug maker Prosensa
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09:48 EDTRNABioMarin price target raised to $96 from $85 at Piper Jaffray
Piper Jaffray raised its price target for BioMarin (BMRN) shares to $96 saying the acquisition of Prosensa (RNA), while introducing new risk, makes sense given its expertise in Orphan Drug approvals. Piper keeps an Overweight rating on BioMarin.
09:23 EDTRNAOn The Fly: Pre-market Movers
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09:20 EDTRNAProsensa buyout not good for Sarepta, says Piper Jaffray
Piper Jaffray says it views the Prosensa (RNA) acquisition by BioMarin (BMRN) as bad for Sarepta (SRPT) since the company now has to compete with a "significantly more experienced and better funded orphan drug player." Piper adds that the takeover announced this morning has no impact on Sarepta's current drug filing process for its Duchenne muscular dystrophy drug eteplirsen. It keeps a Neutral rating on Sarepta with a $20 price target. The stock is trading up 9% in pre-market trading to $17.16 after BioMarin paid a healthy premium to acquire its peer Prosensa.
09:20 EDTRNABioMarin says Prosensa deal does not reflect deterioration of pipeline
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08:12 EDTRNASarepta rises after DMD competitor acquired at significant premium
Shares of Sarepta Therapeutics (SRPT) are up 9.5% to $17.23 in early pre-market trading after rival drugmaker Prosensa (RNA) agreed to be acquired by BioMarin (BMRN). BioMarin has offered to purchase all of the outstanding ordinary shares of Prosensa for $17.75 per share, for a total up front consideration of approximately $680M. In addition, two approximately $80M contingent milestones are payable for the approval of drisapersen in the U.S. and Europe. Drisapersen is Prosensa's lead exon-skipping drug candidate for treating Duchenne muscular dystrophy, or DMD. Sarepta is at work on eteplirsen, its own exon-skipping therapeutic candidate for the treatment of DMD. Prosensa closed trading Friday at $11.44 and are up about 65% to $18.90 in pre-market trading following the deal announcement.
06:44 EDTRNABioMarin to host conference call
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06:02 EDTRNABioMarin agrees to purchase all shares of Prosensa for $17.75 per share
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November 17, 2014
07:04 EDTRNAProsensa reports Q3 EPS (EUR 0.29) vs. (EUR 0.12) last year
November 14, 2014
16:19 EDTRNAGIMV reports 1.43% passive stake in Prosensa

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