Healthcare Roundup –Tetra Bio-Pharma receives orphan drug designation, FibroGen +6.3%

医疗保健 Tetra孤儿药 FibroGen
Published on: November 29, 2019
Author: Amy Liu

Tetra Bio-Pharma receives orphan drug designation

  • Tetra Bio-Pharma (TBPMF -1.9%) has received orphan drug designation for its treatment (Delta-9-Tetrahydrocannabinol) for hepatocellular carcinoma.
  • Shares are up 10.5% in Toronto.

Amgen gets orphan drug designation for anemia treatment

  • Amgen (NASDAQ:AMGN) has received an orphan drug designation for its Nplate (romiplostim) in treating aplastic anemia.
  • That will mean seven years’ market exclusivity if approved for the treatment.
  • Shares have been on a roll, up 12.2% over the past month and up 40.7% over the past six months.

FibroGen +6.3% as Leerink sees China price upside

  • FibroGen (NASDAQ:FGEN) is up 6.3% on healthy volume after a positive mention at SVB Leerink, which sees revenue upside coming from the latest word on China’s National Reimbursement Drug List.
  • The NRDL price for FibroGen’s roxadustat is likely to come in at 95.5 yuan/tablet, translating to about $177/month and $2,128/year – higher than analyst Geoffrey Porges’ expected $1,600/year, he says.
  • That higher price would likely mean a boost to the company’s value of $5/share, he writes.
  • Leerink has an Outperform rating and a Street-high price target of $84, currently implying 95% upside.
  • Sell-side analysts are Bullish on average, while Seeking Alpha authors are Neutral overall. The stock has a Quant Rating of Neutral.

Myovant +3.6% after Roivant share deal

  • Myovant Sciences (NYSE:MYOV) is up 3.6% in first action since disclosing in a filing that Roivant Sciences agreed to buy 3.5M shares of Myovant from Millennium Pharma.
  • That agreement came on Monday, according to the filing.
  • It brings Roivant’s stake in Myovant to 49.7%.
  • The shares came at $15 each, for a total outlay of $52.5M.

Xeris +5% after CEO/Chairman buys shares

  • Xeris Pharmaceuticals (NASDAQ:XERS) is up 5% in decent post-holiday volume after disclosing that Chairman/CEO Paul Edick bought 17,935 shares this week.
  • The Monday purchase came at an average price of $8.5466, marking a total outlay of about $153,283.
  • Shares have been rangebound in recent weeks, but are down 25.9% over the past quarter and are down nearly 50% YTD.

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