Healthcare Roundup – Healthcare rallies as Presidential vote count continues, Novavax inks pact with Australia

Published on: Nov 4, 2020
Author: Amy Liu

Healthcare rallies as Presidential vote count continues

The vote count to decide the next U.S. commander-in-chief is ongoing but healthcare investors do not appear concerned about who will eventually prevail since most industries are up in lockstep with the broad market rally.

It also appears that the GOP will retain a slight majority in the Senate, thereby greatly diminishing Dems’ power to revamp U.S. healthcare.

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Big Biopharma leaders: Eli Lilly (LLY +14.6%), AbbVie (ABBV +9.4%).

Biotech: Biogen (on expected positive Ad Com vote on Alzheimer’s drug) (BIIB +40.9%), gene editors Editas Medicine (EDIT +8.8%), Intellia Therapeutics (NTLA +9.3%), CRISPR Therapeutics (CRSP +10.6%).

Health insurers: UnitedHealth Group (UNH +10.7%), Cigna (CI +14.2%), Anthem (ANTM +12.6%).

Drug wholesalers: AmerisourceBergen (ABC +4.2%), Cardinal Health (CAH +3.9%).

Devices: Edwards Lifesciences (EW +3.9%), Abbott (ABT +3.3%).

Gene therapy developers: Ultragenyx Pharmaceuticals (RARE +10.7%), Sarepta Therapeutics (SRPT +8.3%).

Liquid biopsy: Precipio (PRPO +7.0%), Guardant Health (GH +5.9%).

Novavax inks pact with Australia to supply 40M COVID-19 vaccine doses

Novavax (NVAX +2.8%) has signed an agreement with the Australian government to supply 40M doses of the company’s NVX-CoV2373 Covid-19 vaccine candidate. Interim data expected as soon as early Q1 of 2021.

Delivery could start as early as 1H of 2021

To date, Novavax has established various agreements for the supply of NVX-CoV2373 directly to the U.S. and the U.K., Canada, Japan, South Korea and India.

Novan up 6% as Nasdaq OKs listing on capital market

The Nasdaq has approved Novan’s (NASDAQ:NOVN) request to transfer its listing to the Nasdaq Capital Market from Nasdaq Global Market, effective November 5, 2020.

Trading on Nasdaq Capital Market is expected to begin on November 5, 2020.

On transfer, Nasdaq granted the Company its second grace period of 180 days, or until May 3, 2021, to satisfy the $1.00 bid price requirement to maintain listing.

Shares +6% premarket.

AstraZeneca missed COVID-19 vaccine delivery target in U.K. – FT

The Financial Times reports that AstraZeneca (AZN +6.7%) missed its target of delivering 30M doses of its COVID-19 vaccine, currently dubbed AZD1222, to the U.K. by the end of September.

Lineage Cell Therapeutics EPS misses by $0.01, beats on revenue

Lineage Cell Therapeutics (NYSEMKT:LCTX): Q3 GAAP EPS of -$0.05 misses by $0.01.

Revenue of $0.57M (flat Y/Y) beats by $0.01M.

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