Biotech is back. This spring, biotech stocks collapsed. The Nasdaq Biotechnology Index tumbled 22% in about six weeks, inflicting huge losses on hedge funds and other investors, including holders of a popular exchange-traded fund known for its ticker “IBB,” the iShares Nasdaq Biotechnology ETF , which has about $5.5 billion in assets. So far in…
Regado Biosciences, Inc (RGDO) announced that it is permanently terminating the enrollment process for its phase III REGULATE-PCI study on Revolixys Kit. Regado’s shares tumbled over 60% on the news. Regado was dealt a severe blow with the Data and Safety Monitoring Board for a late-stage study recommending the permanent termination of patient enrolment. The…
In a move which can have a lasting impact in the biotech segment of the stocks market, Bristol-Myers Squibb Company (BMY) entered into a collaboration with Celgene Corporation (CELG) to asses the safety, tolerability and preliminary efficacy of a cocktail therapy including its high potential immuno-oncology drug Opdivo (nivolumab, a PD-1 immune checkpoint inhibitor) and…
Kite Pharma, Inc (KITE) announced the publication of positive results from an ongoing phase I-IIa study on KTE-C19 in patients suffering from aggressive non-Hodgkin’s lymphoma in the Aug 25, 2014 issue of the American Society of Clinical Oncology’s Journal of Clinical Oncology. In the phase I-II study, KTE-C19 achieved 92% overall objective response rate. According…
Shares of Amicus Therapeutics (FOLD) soared 20.4% after the company announced positive data from its second phase III study (Study 012) on the oral small molecule chaperone migalastat HCl in Fabry patients with amenable mutations. The phase III study is evaluating the use of oral migalastat to standard-of-care enzyme replacement therapies (ERTs) − Sanofi’s (SNY)…
Roche’s (RHHBY) $8.3 billion deal, announced over the weekend, to take over biotech firm InterMune (ITMN) triggered significant stock price appreciation in many mid-cap firms in the space on Aug 25. Switzerland-based Roche is looking to strengthen its respiratory portfolio through the impending InterMune buy. The offer price of $74.00 per share represents a premium…
