MAKO Surgical’s (MAKO) first quarter results did little to inspire our confidence in this battered and bruised story, but for those that truly believe in the growth prospects, MAKO looks cheap relative to expectations. The main question that needs to be answered in order to justify ownership is: Are expectations (and guidance) achievable? MAKO, which [...]
On March 12, 2013, Trius Therapeutics (TSRX) reported financial results for the fourth quarter and full year 2012. Total revenues in the quarter were $5.2 million, and consisted of $1.0 million in contract research from the company’s NIAID and DTRA grants and $4.1 million collaborative and licensing fees from Bayer Pharma AG, the company’s partner in Asia/Pacific market [...]
PropThink’s first article on Affymax (AFFY) was in December, after a large retracement suggested that Affymax was poised for a snap back; it subsequently gained 15%. But since mid-January, AFFY has been in decline. We noted the disappointing Omontys sales in early February and called Affymax dead money when Fresenius (FMY) paused the expansion of [...]
On January 8, 2013, I sat down with Mark Corrigan, MD (CEO) and Justin Renz (CFO) of Zalicus (NASDAQ:ZLCS). The primary topic of discussion was Z160, the company’s N-type (Cav2.2) state-dependent calcium channel blocker currently in two phase 2a clinical trials for neuropathic pain. We remind investors that Z160 was formerly known as MK6721 through a partnership [...]
Shares of Celsion Corp. (NASDAQ:CLSN) have climbed 103% since PropThink last wrote on the ThermoDox developer in November, which is due to release pivotal Phase III results within the month. The Phase III HEAT study evaluates Celsion’s lead — and only — candidate as a treatment for Hepatocellular Carcinoma using a combination of encapsulated doxorubicin [...]
It looks like BGI-Shenzhen may be close to unequivocally beating out fellow bidder Illumina (NASDAQ:ILMN) in securing a buyout of Complete Genomics (NASDAQ:GNOM). Last Friday, BGI-Shenzhen, a Chinese sequencing firm, announced that the company had again extended its tender offer for GNOM, this time by a single week, to January 18th. But more importantly, the [...]
On Sunday, January 6, 2013, I arrived in San Francisco, CA for the annual JP Morgan Healthcare Conference, as well as the parallel Biotech Showcase and OneMedForum Conferences. This was the seventh year in a row that I made the trip to San Francisco for these events, which are a must-attend for serious healthcare investors. During my three days [...]
Biotech investors will be well-aware of the Dendreon (NASDAQ:DNDN) story – its rise to glory from 2009 to 2011 and subsequent fall from grace over the last year and a half. The stock was punished by investors following the commercial short-comings of its much-hyped prostate cancer therapy Provenge, which never produced the multi-million dollar sales [...]
It seems that shares of AVEO Oncology (NASDAQ:AVEO) may have finally found their bottom. The oncology drug-developer bounced off of support at $6 (a triple bottom) early this week before beginning a brief uptrend, in-part fueled by insider buying last week. More importantly in the long-run, however, the FDA has accepted AVEO’s New Drug Application [...]
On December 17, 2012, Titan Pharmaceuticals (TTNP:OTC) announced the signing of a license agreement with Braeburn Pharmaceuticals Sprl, wholly owned by Apple Tree Partners. As per the terms of the agreement, the license grants Braeburn exclusive commercialization rights to Probuphine in the U.S. and Canada. In return, Titan has received $15.75 million in an up-front payment and will [...]
A Citizen Petition that Jazz Pharmaceuticals (JAZZ) filed with the FDA in July of 2012 has been rejected, says the company, negating one more barrier to entry for potential makers of generic Xyrem, Jazz’s lead product and a prescription medication for narcolepsy. The Citizen Petition addressed the requirements for submission of any Abbreviated New Drug [...]
Shares of Sequenom (SQNM) climbed 6% on Friday morning as investors took confidence in the announcement of a new patent issuance covering Sequenom’s methods for detecting fetal aneuploidy, which investors hope will help strengthen the company’s case in ongoing patent infringement litigation with competitors. The company posted solid revenue growth in the third quarter and [...]
Chelsea Therapeutics (CHTP) released preliminary results for its Phase III clinical study, called 306b, which evaluated the efficacy and safety of Northera, the company’s drug candidate for symptomatic neurogenic orthostatic hypotension (NOH) associated with Parkinson’s Disease. NOH is associated with a sharp drop in blood pressure, and patients have trouble standing for long periods of [...]
On Tuesday morning, NuPathe Inc. (NASDAQ:PATH) announced the receipt of an $8.5M term loan, just a month after the company firmed up the balance sheet with a $28M stock offering ($26.3M net proceeds). Although most of the term loan will replace $7.9M of existing debt, NuPathe has drastically improved its cash position in the last [...]
Medtronic Inc. (NYSE:MDT) posted in-line adjusted earnings and a slight revenue miss in the second quarter of its fiscal year 2013, but expects overall sales growth for the year; shares strengthened on the news. Net earnings came in at $646M, or $0.63 per diluted share, falling 26% year-over-year including one-time charges, but non-GAAP earnings of $902M and [...]
Less than a month after rejecting a previous takeover bid, Taro Pharmaceutical Industries (NYSE:TARO) in August accepted long-time pursuer Sun Pharmaceutical Industries’ $39.50/share purchase price, valuing the company at just over $1.7 billion; Sun plans to take Taro private following the deal. And while the purchase at first glance appears lucrative for shareholders of the [...]
After declines in the first half of the week, shares of Threshold Pharmaceuticals (NASDAQ:THLD) rebounded on Thursday morning following an update on the company’s ongoing Phase 2 trial of TH-302 (403 Trial) in soft tissue sarcoma. The drug in combination with doxorubicin demonstrated a median progression free survival (PFS) of 6.7 months, a median overall [...]
With guidance for Natpara’s Biologic License Application (BLA) by mid-2013, and an earnings beat in the third quarter, shares of NPS Pharmaceuticals (NASDAQ:NPSP) climbed 8% on Friday. NPS reported a net loss of $3.3 million or $0.04 per share, vs. a $0.14 average estimate from the Street, with royalty revenues of $27M, just below the [...]
Oncology-focused Celsion Corp. (NASDAQ:CLSN) announced Friday morning that the Phase III HEAT trial met its unblinding milestone, and top-line data will be released in January of 2013, sending shares up 7% at the open. The trial evaluates ThermoDox in combination with radiofrequency ablation (RFA) as a treatment for liver cancer, or Hepatocellular Carcinoma (HCC). The [...]
Palatin Technologies (AMEX:PTN) announced this morning that its Phase IIb trial for bremelanotide met its primary endpoint, as well as secondary endpoints, for the treatment of female sexual dysfunction (FSD). Bremelanotide is Palatin’s primary value driver, and if the results of this trial prove out in a Phase III program, the drug could be the [...]
