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Stock Market & Financial Investment News

News Breaks
August 4, 2014
10:27 EDTHEB, TKMR, BCRX, NNVCMapp drug used to treat Ebola patients, CNN reports
A drug made by privately held Mapp Biopharmaceutical was used to treat the two Americans who contracted Ebola, CNN reports, citing a source familiar with details of the treatment. The experimental treatment called ZMapp had never been tried before in a human but had showed promise with monkeys, CNN adds. Shares of Tekmira (TKMR), NanoViricides (NNVC), BioCryst (BCRX) and Hemispherx (HEB) are moving higher in early trading after two Americans were flown home with Ebola. Reference Link
News For TKMR;NNVC;BCRX;HEB From The Last 14 Days
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February 11, 2016
07:08 EDTNNVCNanoViricides partners with University of Pittsburgh for drug candidate testing
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February 9, 2016
10:00 EDTBCRXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Capital Senior Floating (ACSF) downgraded to Market Perform at Keefe Bruyette... American Science & Engineering (ASEI) downgraded to Hold from Buy at Benchmark... ArcelorMittal (MT) downgraded to Neutral from Overweight at JPMorgan... BioCryst (BCRX) downgraded to Hold from Buy at Jefferies... Brixmor (BRX) downgraded to Underperform from Outperform at RBC Capital... Diana Shipping (DSX) downgraded to Neutral from Buy at Clarksons Platou... Eagle Point Credit (ECC) downgraded to Neutral from Buy at Compass Point... Golden Ocean (GOGL) downgraded to Neutral from Buy at Clarksons Platou... Lukoil (LUKOY) downgraded to Hold from Buy at Deutsche Bank... Memorial Resource (MRD) downgraded to Neutral from Overweight at JPMorgan... Navios Maritime (NM) downgraded to Neutral from Buy at Clarksons Platou... Northstar Realty (NRF) downgraded to Market Perform from Outperform at Keefe Bruyette... Plains All American (PAA) downgraded to Neutral from Buy at BofA/Merrill... Plains GP Holdings (PAGP) downgraded to Neutral from Buy at BofA/Merrill... Qualys (QLYS) downgraded to Neutral from Buy at DA Davidson... Quidel (QDEL) downgraded to Hold from Buy at Canaccord... Randgold (GOLD) downgraded to Hold from Buy at Deutsche Bank... Scorpio Bulkers (SALT) downgraded to Neutral from Buy at Clarksons Platou... Tortoise Energy (TYG) downgraded to Hold from Buy at Stifel... Winnebago (WGO) downgraded to Neutral from Buy at Northcoast.
08:37 EDTHEBHemispherx exploring possible research program in Zika Virus
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07:31 EDTBCRXBioCryst downgraded to Hold from Buy at Jefferies
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06:13 EDTBCRXBioCryst downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jessica Fye downgraded BioCryst Pharmaceuticals to Neutral after the company reported avoralstat did not meet its primary endpoint of preventing hereditary angioedema attacks compared to placebo in a Phase IIb trial. The data are "unexpected and disappointing," Fye tells investors in a research note. She cut her price target for BioCryst shares to $5 from $16.
February 8, 2016
16:23 EDTBCRXOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory thanks in part to lower oil prices, poor banking data out of China, and selling in Europe. The market saw little in the way of buying for most of the day, with all ten of the S&P sectors in negative territory. Oil prices struggled to stay above $30 per barrel, while "safe haven" gold moved above $1,200 an ounce, its highest price since June. Once oil settled, stocks saw a late rally and cut into their losses, but the averages still ended the day deep in the red even following the comeback. ECONOMIC EVENTS: In the U.S., the labor market conditions index came in at 0.4 for January, below expectations for a reading of 2.0. In Asia, markets in mainland China, Hong Kong, Taiwan and Korea were all closed for the New Year holiday. Data was still released in China that showed the country's foreign currency reserves fell to their lowest level since May 2012, dropping about $99B in January, though that was better than analyst forecasts and ahead of some recent whispers. COMPANY NEWS: Chesapeake Energy (CHK) tumbled 33.2% to $2.05 after media reports indicated that the natural gas producer has hired restructuring lawyers from Kirkland & Ellis. The company later remarked that the law firm has been retained as an adviser, though Chesapeake noted it has "no plans" to pursue bankruptcy, which helped the stock recover some of its early losses... Meanwhile, another player in the oil space with ties to Chesapeake, Energy Transfer Equity (ETE), declined 41.3% to $4.10 after the company disclosed it was making a change to the Chief Financial Officer of its general partner. Williams Company (WMB), which has agreed to merge with Energy Transfer, also slid nearly 35%... Yelp (YELP) ended Monday down 11% at $16.11 after the earlier than expected release of its quarterly earnings report, which the company blamed on the news distribution service that issued the press release before the results were due. Yelp's earnings and revenue came in above expectations, though the company also disclosed that its finance chief Rob Krolik would be stepping down. MAJOR MOVERS: Among the notable gainers was Apollo Education (APOL), which rallied 24% to $8.62 after agreeing to be acquired for $9.50 per share by a group of investors led by private equity firm Apollo Global (APO), with the news also sending its for-profit education competitor DeVry (DV) up 5.5%. Also higher was GoPro (GPRO), which gained 10.3% to $10.99 after Microsoft (MSFT) announced a new collaborative patent licensing agreement with the beaten down action camera maker. In addition, Outerwall (OUTR), owner of the Redbox and Coinstar kiosk brands, rose 11% to $30.01 after Bloomberg reported that at least three buyout firms have sought to take it private in the past two years, with activist investor Engaged Capital later in the day confirming a 14% stake in the company. Among the noteworthy losers was Sarepta (SRPT), which declined 12.1% to $10.74 after the FDA delayed a decision on the company's closely-watched Duchenne muscular dystrophy treatment eteplirsen. Also lower was BioCryst (BCRX), which plunged 71% to $1.77 after a clinical trial of its hereditary angioedema drug failed to meet its primary endpoint. Meanwhile, Twitter (TWTR) fell 5.3% to $14.89 following reports over the weekend that it is rethinking its news feed, potentially ordering posts based on popularity rather than chronological date. INDEXES: The Dow fell 177.92, or 1.1%, to 16,027.05, the Nasdaq lost 79.39, or 1.82%, to 4,283.75, and the S&P 500 declined 26.61, or 1.42%, to 1,853.44.
14:06 EDTBCRXBioCryst downgraded to Hold from Buy at Needham
12:05 EDTBCRXOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session deep in negative territory and proceeded to move lower throughout the session, amid a renewed selloff in oil prices and fears that bankruptcies related to the prolonged slump will begin to pick up pace. The move lower is not restricted to the energy sector and has been broad-based, as each of the major equity indexes was lower by about 2% or more. ECONOMIC EVENTS: In the U.S., the labor market conditions index came in at 0.4 for January, below expectations for a reading of 2.0. In Asia, markets in mainland China, Hong Kong, Taiwan and Korea were all closed for the New Year holiday. Data was still released in China that showed the country's foreign currency reserves fell to their lowest level since May 2012, dropping about $99B in January, though that was better than analysts forecast and ahead of some recent whispers. COMPANY NEWS: Chesapeake Energy (CHK) tumbled over 50%, dropping as low as $1.50 per share, after media reports indicated that the natural gas producer has hired restructuring lawyers from Kirkland & Ellis. Subsequently, the stock was halted pending news and the company confirmed that Kirkland & Ellis continues to advise the company as it seeks to further strengthen its balance sheet. However, Chesapeake noted that it currently has "no plans to pursue bankruptcy," and its shares recovered some of their earlier losses upon being reopened for trading. The stock was down a bit over 25% near noon... Meanwhile, another player in the oil space with ties to Chesapeake, Energy Transfer Equity (ETE), declined 30% after the company disclosed, via a regulatory filing after Friday's close, that it was making a change to the Chief Financial Officer of its general partner. According to the company, the departure of CFO Jamie Welch from the post was not caused by any disagreements between him and the MLP over accounting issues or financial matters. Williams Company (WMB), with has agreed to merge with Energy Transfer, also slid 25%. MAJOR MOVERS: Among the notable gainers was Apollo Education (APOL), which rallied 25% after it agreed to be acquired by a group led by private equity company Apollo Global (APO) for $9.50 per share. Also higher was GoPro (GPRO), which gained 9% after Microsoft (MSFT) announced a new collaborative patent licensing agreement with the beaten down action camera maker. Among the noteworthy losers was Sarepta (SRPT), which fell 12% after the FDA delayed a decision on the company's Duchenne muscular dystrophy treatment eteplirsen. Also lower was BioCryst (BCRX), which plunged 67% after a clinical trial of its hereditary angioedema drug failed to meet its primary endpoint. In addition, DexCom (DXCM) was 17% lower after it was downgraded to Neutral from Outperform at Baird. INDEXES: Near midday, the Dow was down 317.14, or 1.96%, to 15,887.83, the Nasdaq was down 101.02, or 2.32%, to 4,262.12, and the S&P 500 was down 36.43, or 1.94%, to 1,843.62.
11:08 EDTBCRXBioCryst downgraded to Neutral after avoralstat trial faiure at Piper Jaffray
As previously reported, Piper Jaffray analyst Charles Duncan downgraded BioCryst to Neutral from Overweight after avoralstat failed to meet its primary endpoint in a Phase 2 trial. The results were not entirely unexpected given prior management signals, Duncan told investors in a research note, but added that there is now limited visibility on the development plan for an oral kallikrein inhibitor in the next 6-12 months. The analyst cut his price target on BioCryst to $5 from $15.
11:02 EDTBCRXBioCryst downgraded to Neutral from Overweight at Piper Jaffray
10:06 EDTBCRXHigh option volume stocks
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09:55 EDTBCRXBioCryst plummets after hereditary angioedema drug disappoints in study
Shares of BioCryst Pharmaceuticals (BCRX) are plunging in morning trading after the biotechnology company reported disappointing clinical trial results for its potential hereditary angioedema treatment. WHAT'S NEW: Biocryst this morning announced results from its OPuS-2 trial evaluating avoralstat in treatment of patients with hereditary angioedema, or HAE. BioCryst said either a 500 mg or 300 mg dose of the drug was administered three times daily to patients suffering HAE attacks, but said those patients did not have a lower rate of edema, or swelling, than patients given a placebo. The primary goals of the study were to characterize the efficacy of avoralstat in reducing the frequency of angioedema attacks and to evaluate the safety and tolerability of 12 weeks of avoralstat treatment. The primary efficacy endpoint of the study was angioedema attack frequency, with secondary endpoints including quality of life, attack duration and attack severity. EXECUTIVE COMMENTARY: President and Chief Executive Officer Jon Stonehouse said that the OPuS-2 trial was a "well-designed and executed trial that gave us a clear answer; this dosage form of avoralstat is not a viable formulation to move forward." Stonehouse also commented that "While we are disappointed in the study results, we learned that meaningfully better exposure is needed for avoralstat to succeed. We expect results from a relative bioavailability study testing a novel solid dosage form of avoralstat by mid-year -- the primary goals of this study are to achieve much higher exposures and twice daily dosing." He said that the company's other opportunity to achieve higher exposure of an oral kallikrein inhibitor is with BCX7353 and the company expects results from the BCX7353 APeX-1 dose ranging study in HAE patients by year end. PRICE ACTION: In morning trading, BioCryst dove 66% to $2.10.
09:17 EDTBCRXOn The Fly: Pre-market Movers
HIGHER: Apollo Education (APOL), up 26.6% after announcing that it will be acquired for $9.50 per share... Sprouts Farmers Market (SFM), up 5% after being added to S&P 400... GoPro (GPRO), up 3.4% after signing a licensing agreement with Microsoft (MSFT). LOWER: BioCryst Pharmaceuticals (BCRX), down 60.9% after reporting OpuS-2 clinical trial results... CTI BioPharma (CTIC), down 55.4% after the FDA placed a partial clinical hold on pacritinib studies... Tableau (DATA), down 5.5% after being downgraded to Equal Weight at Morgan Stanley... HSBC (HSBC), down 3.6% after being downgraded to Underweight from Equal Weight at Morgan Stanley... Chesapeake Energy (CHK), down 21% after Hedgeye analyst Kevin Kaiser said in an interview with Barron's that Chesapeake could go to zero... Twitter (TWTR), down 2.9% after backlash over its new algorithmic timeline.
06:09 EDTBCRXBioCryst to host conference call
Conference call to discuss the OPuS-2 trial results and other aspects of BioCryst's HAE development program will be held on February 8 at 8am. Webcast Link
06:07 EDTBCRXBioCryst reports OpuS-2 clinical trial results
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February 3, 2016
08:46 EDTHEBHemispherx announces voluntary stock purchase plan
Hemispherx Biopharma announced a Voluntary Pay for Stock Plan. Hemispherx Biopharma is seeking to create ownership incentives as well as to provide additional cash for various operational activities. All members of Senior Management, all members of the board, and all employees volunteered to participate. Senior Management believes that this Plan creates significant shareholder value as the participants will voluntarily use up to 20% of their salaries to purchase stock from the company, creating long term incentives for them to reach corporate goals. In addition, the CEO/Chairman and President/CFO, will both voluntarily reduce their salaries further to a cumulative reduction of 50%. The plan goes into effect immediately.
February 1, 2016
07:12 EDTNNVCNanoViricides signs agreement with University of Wisconsin
NanoViricides announced that it has entered into an agreement with the University of Wisconsin for the evaluation of its nanoviricides drug candidates in models of ocular herpes virus infections. The studies will be performed in the laboratory of Dr. Curtis Brandt, an expert in herpes simplex virus infections and in evaluating anti-viral agents. The Company has previously reported the successes of its nanoviricides drug candidates in pre-clinical studies of dermal herpes virus infections in mouse models. The studies in Dr. Brandt's laboratory will be critical in optimizing its anti-herpes drug candidates against ocular herpes virus infections. The goal of these studies will be to identify a drug development candidate as a treatment for ocular keratitis in humans caused by herpes simplex virus infections.

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