| Sangamo Biosciences, Inc. Q1 2010 Earnings Call Transcript Sangamo Biosciences, Inc. (SGMO)Q1 2010 Earnings Call TranscriptMay 3, 2010 5:00 pm ETComplete Story » seekingalpha.com |
Exelixis: Finding Opportunity in a Bottomed Stock Prohost Biotech submits:Following Exelixis (EXEL) press release, which announced that it has regained full rights from Bristol-Myers Squibb (BMY) to its cancer drug XL184, the firm’s stock plummeted. In the press release, Exelixis stated that BMY’ priorities made it difficult for BMY to align on the scope, breadth and pace of the ongoing clinical development of XL184 as agreed upon in the original agreement. Those who instigated the sell-off did not buy Exelixis’ explanation and were more comfortable with the notion that BMY decided to walk away from XL184, probably because of bad news about the drug. Their reasoning was that a giant pharmaceutical company like BMY, which focuses on building an impressive advanced oncology pipeline would not let a promising multi-targeted cancer drug in late phase trials slip from its hands without a significant reason. BMY did not allude to any bad reason or any reason at all for its decision. It did not comment on Exelixis’ explanation and did not deny it. Although investors’ speculation and their spontaneous response, instigating the selling of the stock, are not irrational, they were not supported by evidence-based knowledge, or facts. Their best speculation was that if BMY doubts the drug’s promises, the least of what they can do is the same as BMY did, i.e., abandoning investing in Exelixis. The sell-off was triggered by a pyramid of suppositions that have no concrete proof. Complete Story » seekingalpha.com |
Generic Lovenox Wins Approval The FDA approved the first generic version of the big-selling blood thinner Lovenox, in a victory for a unit of Novartis. online.wsj.com |
LabCorp's Zero Coupon Convertible Subordinated Notes Due 2021 to Accrue Contingent Interest [Business Wire] - BURLINGTON, N.C.----Laboratory Corporation of America® Holdings announced today that for the period of September 12, 2010 to March 11, 2011, its Zero Coupon Convertible Subordinated Notes due 2021 will, subject to the terms of the Zero Coupon Notes, accrue contingent cash interest at a rate of no less than 0.125% of the average market price of a Zero Coupon Note for the five trading days ended September 8, 2010, in addition to the continued accrual of the original issue discount. us.rd.yahoo.com |
Can Array BioPharma Attract Yet Another Partner? M.E. Garza submits: By Patrick Crutcher Shares of Array BioPharma Inc.(NASDAQ:ARRY) traded up after announcing positive interim results of its novel, oral HER2 (ErbB2) inhibitor, ARRY-380, in a Phase 1 trial in patients with advanced cancer. The results presented at the 2010 ASCO Breast Cancer Symposium in National Harbor, Maryland, may attract some attention to the company going forward. ARRY-380 is a potent, orally active small molecule drug that has been well-tolerated to date and selectively inhibits tumor growth in preclinical models of HER2-dependent tumors. HER2, also known as ErbB2, is a receptor tyrosine kinase that has been found to be over-expressed in breast cancer and other cancers such as gastric and ovarian. ARRY-380 has demonstrated significant dose-related tumor growth inhibition in preclinical models that was superior to Herceptin and Tykerb(lapatinib) and was additive for tumor growth inhibition in preclinical models when dosed in combination with the standard of care therapeutics such as Herceptin(trastuzumab) or Taxotere(docetaxel). Ideally, ARRY-380 would be competing with Herceptin, which is a blockbuster drug for Genentech (DNA).Complete Story » seekingalpha.com |