Healthcare Roundup – Moderna updates cash consumption guidance, J&J inks deal with feds

Published on: August 5, 2020
Author: Amy Liu

Moderna updates cash consumption guidance as it advances COVID-19 vaccine candidate

Moderna (MRNA) Q2 results:

Revenues: $66.4M (+406.9%).

Net loss: ($116.7M) (+13.5%); loss/share: ($0.31) (+24.4%).

CF Ops: $130.1M (-48.6%).

The company updates 2020 guidance to reflect investments into mRNA-1273. Net cash used in operating activities is expected between $0.65B to $0.85B.

Phase 2 study of COVID-19 vaccine candidate (mRNA-1273) fully enrolled; Phase 3 study in collaboration with NIH and BARDA is on track to complete enrollment in September 2020.

J&J inks deal with feds to supply 100M doses of COVID-19 vaccine

Johnson & Johnson (NYSE:JNJ) unit Janssen Pharmaceutical Companies enters into an agreement with the U.S. government for the delivery of 100M doses of COVID-19 vaccine Ad26.COV2.S.

BARDA, collaborating with the Department of Defense, is committing over $1B to the deal.

The feds may buy an additional 200M doses under a subsequent contract.

Shares up 2% premarket on light volume.

Pfizer and BioNTech ink COVID-19 vaccine supply deal in Canada

Pfizer (NYSE:PFE) and development partner BioNTech SE (NASDAQ:BNTX) announce an agreement with the Canadian government to supply an undisclosed amount of their COVID-19 vaccine throughout 2021.

As previously announced, the companies expect to make up to 100M doses this year and ~1.3B doses next year. Regulatory filings may be submitted as early as October.

PFE is up a fraction premarket and BNTX is up 1%, both on light volume.

Compassionate use of Anavex lead drug OK’d in Australia

Under its Special Access Scheme, the Australian government has approved compassionate use of Anavex Life Sciences’ (NASDAQ:AVXL) Anavex 2-73 (blarcamesine) for neurodegenerative and neurodevelopmental disorders including Alzheimer’s disease, Parkinson’s disease and Rett syndrome.

The product will be available to patients via their doctors’ requests.

Shares up 7% after hours.

Global Blood Therapeutics EPS beats by $0.29, beats on revenue

Global Blood Therapeutics (NASDAQ:GBT): Q2 GAAP EPS of -$0.86 beats by $0.29.

Revenue of $31.5M beats by $12.37M.

Shares +7.51%.

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