Ovation Science Inc. (CSE: OVAT)
Ovation Science: Better Drug Delivery for Better Results
Bank of America initiates coverage on CRISPR Therapeutics (NASDAQ:CRSP) with a Buy rating and assigns a price target of $110.
Analyst Geoff Meacham says “the company’s technology platform has generated a de-risked and a potentially best-in-class curative therapy for transfusion-dependent beta-thalassemia and sickle cell disease, as well as a trio of next-gen allogeneic CAR-T therapies for both liquid and solid tumors”
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“These advancements could have superior safety and convenience benefits over the current generation of autologous CAR-Ts,” Meacham writes.
The company has recently gained accelerated review for CTX001 in Europe. Being co developed with Vertex, CTX001 is an autologous, ex vivo CRISPR/Cas9 gene-edited therapy for the treatment of severe sickle cell disease.
Rating pushed the stock higher to close at $86.79, up 9%.
The first participant has been dosed in a China-based Phase 3 clinical trial, PODIUM-304, evaluating Zai Lab Limited (NASDAQ:ZLAB) and Incyte’s (NASDAQ:INCY) PD-1 inhibitor retifanlimab, combined with platinum-based chemo, in treatment-naïve patients with metastatic non-small cell lung cancer (NSCLC).
The primary endpoints of the 530-subject study are overall survival and progression-free survival. The estimated primary completion date is August 2024.
Bristol Myers Squibb (NYSE:BMY) accelerates the expansion of its cardiovascular portfolio by acquiring MyoKardia (NASDAQ:MYOK) for $13.1B, or $225/share in cash.
The company expects to finance the acquisition with a combination of cash and debt and anticipates its closing during 4Q20.
“The acquisition of MyoKardia further strengthens our portfolio, pipeline and scientific capabilities, and is expected to add a meaningful medium- and long-term growth driver,” said Giovanni Caforio, M.D., Board Chair and Chief Executive Officer of Bristol Myers Squibb. “We are further strengthening our outstanding cardiovascular franchise through the addition of mavacamten, a promising medicine with the potential to address a significant unmet medical need in patients with cardiovascular disease.”
The transaction is expected to be minimally dilutive to company’s non-GAAP EPS in 2021 and 2022 and accretive beginning in 2023. Bristol Myers Squibb reaffirms its existing 2021 non-GAAP EPS guidance range.
MYOK +59% premarket.
Sorrento Therapeutics (NASDAQ:SRNE) will host a R&D Day conference call and webcast on October 13, 2020 focusing on its multi-modal approach to COVID-19.
Management will highlight strategic advancement, challenges, key pipeline updates and drivers of future growth in the COVID-19 space.
R&D Day Agenda: Clinical stage products (cleared Phase 1 or Phase 2); pre-clinical stage products of high interest and diagnostics.
European Consumer Healthcare and Generics company STADA entered into supply agreement with a wholly owned subsidiary of MediPharm Labs (OTCQX:MEDIF) to provide medical cannabis products for the European pharma sector.
Under the terms of the partnership, MediPharm will supply GMP-certified medical cannabis products to STADA and provide manufacturing, logistics and regulatory support.
STADA will be responsible for commercializing the cannabis products, initially in Germany, as well as marketing and medical education.
The partnership’s primary focus will be Germany, before potentially expanding to other European countries and territories.
The Medical Cannabis Network estimates that Germany’s dominance in the European cannabis market could expand to €1.5B by 2025 with greater awareness and education around the benefits of medical cannabis.