Gilead said on Sunday it agreed to acquire cancer-drug company Immunomedics for $US21 billion. Shares of Immunomedic soared as much as 106% on Monday following the news. Immunomedics sells Trodelvy, a drug used to treat different forms of breast cancer and that is being evaluated for a number of other […]
Summary List Placement Amarin plummeted as much as 31% after its appeal hearing related to invalidated patents for its key drug was “incrementally negative,” according to Stifel. Amarin received FDA approval for its fish-oil heart drug, Vascepa, in 2018. In March, Amarin lost a court battle with generic drug manufacturers […]
Three biotechnology stocks plummeted on Wednesday after the FDA issued two separate complete response letters, or CRLs, for two separate drugs. On Tuesday after the market close, Gilead received a CRL for its drug filgotinib, which was developed in partnership with Galapagos. Galapagos plummeted as much as 28% on Wednesday, […]
CureVac, a German biotechnology company, skyrocketed in its initial public offering on Friday, raising $US213.3 million and more than tripling from its IPO price. Shares of the company have continued to surge since its Friday IPO, gaining as much as 52% to $US85 per share on Monday – a 431% […]
It’s a critical time to be in the biotech business, as companies race to find new ways to treat and prevent the novel coronavirus. With all eyes on the industry, Business Insider asked 12 top biotech venture capital investors which startups they think are poised to take off in the […]
Seres Therapeutics soared as much as 608% on Monday after the company announced positive phase 3 trial data for its drug SER-109. SER-109 was developed for the potential treatment of C. difficile, which is a bacterial infection of the colon that leads to inflammation and can be deadly. Seres said […]
Novavax shares spiked as much as 38% early Tuesday after receiving $US1.6 billion in coronavirus vaccine funding from the US government. The award is the largest yet from Operation Warp Speed, the White House’s plan to rapidly develop and deliver a viable vaccine for the coronavirus pandemic. Part of the […]
Eli Lilly soared 14% on Tuesday after it announced that its breast cancer drug Verzenio was successful in meeting its primary endpoint in a Phase 3 trial. Verzenio was successful in preventing the recurrence of breast cancer for patients. Pfizer announced in late May that its competing drug Ibrance failed […]
Gilead’s stock fell 4% on Monday after a coronavirus drug trial showed mixed results in moderately ill people. The company tested the drug in patients who received the treatment for both 5 days and 10 days. Patients who received it for 5 days were 65% more likely to show signs […]
Moderna dropped as much as 20% on Wednesday amid a report from StatNews that insiders at the biotech company have liquidated $US89 million in stock so far in 2020. Moderna shares more than quadrupled from the beginning of 2020 to their high of $US87 in mid-May, as investors bid up […]
In its short corporate history, Moderna has grown accustomed to breaking records. A $US450 million funding round in 2015 was a record for the biotech industry. Moderna raised even more the next year. And its 2018 initial public offering was the largest-ever for a biotech, raking in $US564 million at […]
Dr. Anthony Fauci made a series of positive comments about Moderna‘s early COVID-19 vaccine data on Thursday night and Friday morning, sending shares higher by more than 5%. Fauci called Moderna’s vaccine data “quite promising” and “better than we thought” in an interview with NPR on Friday morning. Fauci also […]
Stéphane Bancel is the CEO of Moderna, the company that translated the genetic code of the coronavirus into a vaccine. Moderna released results on Monday that said its vaccine is 94.5% effective in preventing COVID-19; human trials began in March. It typically takes several years to develop a vaccine. The […]
Shares of Sorrento Therapeutics spiked as much as 244% on Friday after the company claimed an antibody it’s developing showed 100% inhibition of the COVID-19 virus in preclinical studies. The small biotechnology company said it aims to create an antibody cocktail that would act as a “protective shield” against coronavirus. […]
Moderna stock surged as much as 16% early Thursday after the company announced its coronavirus vaccine candidate received FDA approval for phase 2 trials. The biotech firm is preparing for a phase 3 study to begin in the early summer with the goal of marketing the drug as early as […]
Timothy Springer, a medical professor at Harvard University, saw his net worth pass the $US1 billion threshold this week as his early stake in biotech firm Moderna soared, Bloomberg reported Wednesday. The professor invested $US5 million in the company early on, and the stake’s value has since swelled to more […]
Former GoogleCEO Eric Schmidt urged the United States government to get more invested in the ongoing tech race between China and the US. In an op-ed published Friday morning in the New York Times, Schmidt argued that the US has a tenuous lead over China on a variety of tech […]