Biotech firm Exelixis (Nasdaq: EXEL) has been trending sharply higher since the end of October and a trend channel has formed that defines the up and down cycles within the overall upward trend.The stock has been grinding sideways with a slight downward bias since mid-January and that has allowed the lower rail of the channel to catch up to the stock price.
With the stock hitting the lower rail it looks as if the next upward cycle is underway.
Epizyme, Inc. incurred loss of 29 cents per share in the fourth quarter of 2018, narrower than the Zacks Consensus Estimate of loss of 49 cents and the year-ago loss of 52 cents.
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Roche is buying U.S.-based gene therapy specialist Spark Therapeutics for $4.3 billion after developments in this area convinced the Swiss drugmaker to “step up”, Chief Executive Severin Schwan said on Monday.
Roche will pay $114.50 per share for Spark for a portfolio that includes a blindness treatment that has U.S. and European approval and other projects for hemophilia and neurodegenerative disorders like Huntington’s disease. Philadelphia-based Spark’s shares are up about 30 percent this year.The U.S.-company’s stock tumbled last year after two of 12 patients showed an unfavorable immune response when treated with a higher dose of Spark’s haemophilia therapy SPK-8011.
Halozyme Therapeutics came out with a quarterly loss of $0.01 per share versus Wall Street's estimate of a loss of $0.02.Last quarter, it was expected that this biopharmaceutical company would post a loss of $0.23 per share when it actually produced a loss of $0.19. Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Halozyme posted revenue of $60.23 million for the quarter ended December 2018.
This compares to loss of $1.81 per share a year ago.
Earnings showed surprise growth of 4.24%.A quarter ago, it was expected that this biopharmaceutical company would post a loss of $1.69 per share when it actually produced a loss of $1.63, delivering a surprise of 3.55% growth.
Prothena Corporation had mixed results for Q4 2018.The company reported a loss of $0.56 per share, narrower than the Street's estimate loss of $0.96 cents and the year-ago loss of $1.24.
“In 2018, we continued to advance our neuroscience pipeline of novel investigational therapeutics towards key milestones,” said Gene Kinney, Ph.D., President and Chief Executive Officer of Prothena. The company’s shares have lost 12.1% in the past six months compared with the industry's decline of 11.8%.
Exelixis, Inc. delivered better-than-expected results for fourth-quarter 2018, wherein both earnings and revenues beat estimates on strong performance by Cabometyx.
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Biotech firm Exelixis (Nasdaq: EXEL) has been trending higher since the end of October.That pattern looks similar to what we saw at the end of December.
Tickeron’s A.I.
Shares of Incyte Corporationdeclined 1.9% after the FDA extended the review period of the supplemental New Drug Application (sNDA) for Jakafi to treat patients with acute graft-versus-host disease (GVHD) who have had an inadequate response to corticosteroids.
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Proteostasis Therapeutics (PTI) is a small-cap company developing small molecule therapeutics to treat cystic fibrosis (CF) and other diseases caused by dysfunctional protein processing.Recently, the company announced positive preliminary results from its ongoing Phase 1 study of combination therapies for CF.
Cystic fibrosis (CF) is a progressive, genetic disease that causes persistent lung infections and limits the ability to breathe.
Novavax, Inc.’s stock price jumped +7.6% in the latest trading session.This follows the biotech company's recent announcement of the initiation of phase 2 clinical trial of its flu vaccine NanoFlu in older adults.
What's more,Novavax's current ratio - a metric of how well a company can meet its short-term obligations - is at 4.50x, which is higher than some of its peers GlaxoSmithKline (0.90x) Novartis (1.10x) and Sanofi (1.20x) as suggested by a Market Realist report.