Posts for Ticker ‘SIRT’

Biotech Business Daily (BIIB, GSK, ILMN, IVGN, LJPC, SIRT, STEM)

Biogen Idec (NASDAQ: BIIB) is sliding marginally despite reported earnings today that showed a 23% increase in earnings riding on sales growth on Avonex and Rituxan. The earnings beat estimates and the company raised its outlook. Shares are down $1.06 to $63.56 on a 52-week range of $45.77 to $84.75.

GlaxoSmithKline (NYSE: GSK) is up a marginal 1.5% to $44.42 on a 52-week range of $40.51 to $59.15. Today, the company showed a 13% decline in profit due to increased generic purchases that cut into sales on anti-depressants and heart medications. Yesterday, the company offered to purchase Sirtris Pharmaceuticals for $720 million.

Illumina Inc. (NASDAQ: ILMN) shares are up $8.12, 11%, after solid first quarter earnings that beat estimates and a strong positive outlook. The company posted earnings of $13.4 million after showing a loss of $298 the same quarter last year. Shares are trading at $80.59 and the 52-week range is $31.66 to $79.90.

Invitrogen Corp. (NASDAQ: IVGN) is up 7% after first quarter earnings showed doubled profit on sales increases, beating estimates. The company posted earnings of $58.7 million and $1.19 EPS. Shares are trading at $93.73 on a 52-week range of $65.00 to $99.15.

La Jolla Pharmaceutical Co. (NASDAQ: LJPC) reported positive results on interim antibody data on Riquent for treatment of lupus. Lupus is a condition in which antibodies attack tissues. The results showed that higher dosages of the treatment reduced levels of antibodies more effectively. The late stage trial is expected to close in the second half of 2009. Shares are up 18% to $2.15 on a 52-week range of $1.45 to $7.10.

Sirtris Pharmaceuticals, Inc. (NASDAQ: SIRT) is seeing shares up a whopping 82% after GlaxoSmithKline (NYSE: GSK) offered to buy the company yesterday for $22.50 per share, an 84% premium to Tuesday’s close, for a total value of $720 million. Sirtris focuses on enzymes that affect the aging process and is developing a type-II diabetes treatment. Sirtris shares are up $10.07 to $22.30. The 52-week range is $9.50 to $21.99.

StemCells (NASDAQ: STEM) received a patent for neural stem cells from all tissue sources. This patent will require all other third parties seeking to commercialize neural stems cells to obtain a license from StemCells.  Shares are up $0.18 to $1.55, a 13% jump. The 52-week range is $1.00 to $2.83.

Rachel Lopez
April 23, 2008

Posted on: April 23, 2008 – 11:55 am in Biotech, , , , , , ,

Sirtris Major Buyout Premium From GlaxoSmithKline, Public Under a Year (SIRT, GSK)

GlaxoSmithKline (NYSE: GSK) has announced that it has entered into a definitive acquisition pact with Sirtris Pharmaceuticals Inc. (NASDAQ: SIRT).

The drug giant will pay approximately $720 million via a cash tender offer of $22.50 per share.  Sirtris closed down 4% at $12.23 today on less than 90,000 shares.

As a result of the buyout, GSK will enhance its metabolic, neurology, immunology and inflammation research efforts with the establishment of a presence in the field of sirtuins.  This recently discovered class of enzymes is believed to be involved in the aging process and Sirtris Pharmaceuticals has established a drug discovery capability to exploit sirtuin in human diseases, which could generate multiple clinically and commercially products. To date, Sirtris has been in the development of a treatment of Type 2 Diabetes Mellitus.

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Interestingly enough, Sirtris has only been public less than a year,and its trading range has been almost entirely in a range of $10 to $20since.  Based on no major stock move in the last 5-days and based onstock options having an extremely low open interest, it looks like amerger actually occurred that it doesn’t appear traders caught anymajor wind of.

Here was the original filing, which showed JPMorgan, CIBC, Piper Jaffray, JMP Securities, and Rodman & Renshaw as its underwriters.

Jon C. Ogg
April 22, 2008

Jon Ogg is a producer of and editor for both the Special Situations newsletter and the "10 Stocks Under $10" weekly newsletter for 247WallSt.com; he can be reached at jonogg@247wallst.com and he does not own securities in the companies he covers.

Posted on: April 22, 2008 – 4:07 pm in Biotech, Mergers and Buy Outs, ,

Biotech Busine$$ Daily (ACAD, AMLN, CVTX, HALO, KOSN, MCU, NVAX, POZN, REGN, SIRT)

If you thought biotech news was getting quiet going into earnings season, think again.

Acadia Pharmaceuticals Inc. (ACAD) presents Phase II data on pimavanserin, a treatment  for Parkinson’s disease psychosis (PDP) at the 60th American Academy of Neurology Annual Meeting today. According the results from the study, pimavanserin is safe and effective at improving psychosis scores without hindering motor abilities. Shares are up $0.46 to $8.36 on a 52-week range of $7.63 to $17.33.

Amylin Pharmaceuticals Inc. (NASDAQ: AMLN) up almost 3% in mid-morning trading. They announced that the earnings call is schedule for March 21. Trading at $30.42 on a 52-week range of $23.75 to $53.25.

CV Therapeutics, Inc. (NASDAQ: CVTX) soaring today after they announced Tuesday that they will receive $185 milliion from TPG-Axon Capital for rights to the sales of Lexiscan, a drug for patients that are unable to exercise during heart tests and was granted FDA approval last Thursday. Shares are up over 15% to $8.63 on a 52-week range of $5.41 to $13.74.

Halozyme Therapeutics, Inc. (NASDAQ: HALO) announced pre-clinical findings in combinations of bisphosphonates and rHuPH20 at the American Association for Cancer Reseacrch conference today. The study showed that a combination of these molecules could reduce local irritation from chemotherapy by allowing a subcutaneous route of administration. Shares are up over 10% to $5.99 on a 52-week range of $4.19 to $11.00.

Kosan Biosciences Inc. (NASDAQ: KOSN) is still steadily rising after Monday announcement that Phase II testing for Epothilone KOS-1584 initiated. The drug targets patients with non-small cell lung cancer. Shares are up over 11% to $2.00 today. Monday, shares opened at $1.50. The 52-week range is $1.28 to $6.53.

Medicure Inc. (AMEX: MCU) up by 40% with the announcement that Phase II results for MC-1 and lisinpril for patients with type-II diabetes and hypertension will be presented at Arteriosclerosis, Thrombosis and Vascular Biology (ATVB) Annual Conference today. The data from the study was previously released. Shares are up 40% to $0.09 on a 52-week range of $0.05 to $1.64.

Novavax, Inc. (NASDAQ: NVAX) reported positive results in preclinical studies of Trivalent, a seasonal influenza vaccine. Phase II testing is hoped to begin in the third-quarter this year. Shares are up over 5% to $2.51. The 52-week range is $2.24 to $4.38.

Pozen, Inc. (NASDAQ: POZN) skyrocketing today on news that migraine drug Treximet has received FDA approval. They partnered with GlaxoSmithKline (GSK) for development of the drug. It is a follow up for Glaxo’s similar drug, Imitrex, which is set to lose patent protection in 2009. Pozen up 34% to $14.19 on a 52-week range of $8.29 to $19.75. Glaxo is up marginally to $42.57.

Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) moving higher than the rest today on no new developments. Shares are up $1.37 to $19.60 on a 52-week range of $13.55 to $28.74.

Sirtris Pharmaceuticals, Inc. (NASDAQ: SIRT) published a report by Scientific Advisory Board Co-Chairs that showed first in-vivo data demonstrating that SIRT1 enzymes suppress tumor development in colon cancer cells. Shares are up almost 5% to $12.56 on a 52-week range of $9.50 to $21.99.

Rachel Lopez
April 16, 2008

Posted on: April 16, 2008 – 11:18 am in Biotech, , , , , , , , , ,

Biotech Busine$$ Daily (CRXX, CORT, OMRI, SIRT)

CombinatoRx, Incorporated (NASDAQ: CRXX) up 8% to $3.45 on no recent developments. The 52-week range is $3.11 to $7.37. Yesterday, the company hit a 52-week low so perhaps it had nowhere to go but up.

Corcept Therapeutics Inc. (NASDAQ: CORT) up 11% today. Despite several statistically insignificant Phase III clinical trials of lead drug, a psychotic depression treatment, Corlox, the company initiated further trials in December. Friday the company entered into an agreement with Kingsbridge Capital Limited to purchase up to $60 million in new shares to finance their trials. Shares are trading at $3.60 off a 52-week range of $1.10 to $6.85.

Omrix Biopharmaceuticals, Inc. (OMRI) is still rising from an analyst assertion Monday that the biosurgery franchise unit with Johnson and Johnson leads its industry. Since Monday, shares have spiked from $13.32 to $16.04, a 20% increase. Today, shares are up 8%. The 52-week range is $11.81 to $39.07.

Sirtris Pharmaceuticals, Inc. (NASDAQ: SIRT) granted orphan-status to MELAS syndrome drug treatment, resveratrol. The designation gives Sirtris 7 years of marketing exclusivity upon FDA approval. Shares down $0.73 to $13.12 on heavy trading volume. The 52-week range of $9.50 to $21.99.

Rachel Lopez
April 2, 2008

Posted on: April 2, 2008 – 11:40 am in Biotech, , , ,

Major Biotech Movers (AGEN, CEGE, ENCY, IDMI, IMCL, ONXX, PFE, NTII, OXGN, PSDV, SIRT)

Antigenics Inc.  (NASDAQ: AGEN) A study for Cancer vaccine, Oncophage, for the treatment of metastatic melanoma showed mixed results this morning. Shares are down almost 7% to $2.17. The 52 week range is $1.54 to $5.42.

Cell Genesys, Inc. (NASDAQ: CEGE). Shares continue to climb following report Friday citing that vaccine candidate GCAX showed immune response in prostate cancer patients. Shares are trading at $2.93 in mid-day trading. The 52 week range is $1.78 to $7.30.

IDM Pharma, Inc. (NASDAQ: IDMI). Downgraded by Rodman & Renshaw. Shares plummet over 18% to $2.57. The 52 week range is $0.57 to $10.75.

Imclone Pharmaceuticals (NASDAQ: IMCL). Halted testing for competitor Onyx Pharmaceuticals (NASDAQ: ONXX) in the lung cancer drug market and a 4.96% stake purchase by Steve Cohen’s hedge fund, SAC Capital, pushed Imclone up early Tuesday. Shares have returned down to $38.41 in mid-day trading. The 52 week range is $27.50 to $47.94

Neurobiological Technologies Inc. (NASDAQ: NTII) Received a $2.1 million quarterly royalty payment for sales of Memantine, a moderate-to-severe Alzheimer’s disease treatment, from Merz Pharmaceuticals GmbH. Shares have showed little reaction, trading at $2.67. The 52 week range is $2.06 to $19.53.

Oxigene Inc. (NASDAQ: OXGN) Secures $40 million committed equity financing facility. Shares are down over 3% and trading in at $2.05 with a 52 week range of $2.01 to $5.12.

Onyx Pharmaceuticals (NASDAQ: ONXX). Shares are down by $3.47 to $29.62, a 10% drop after being murdered yesterday due to a Phase III testing halt for its lung cancer drug Nexavar. Shares fell almost 25% yesterday. The 52 week range is $23.65 to $61.18.

Today, Pfizer (NYSE: PFE) announced offer to buy all issued and outstanding shares of Encysive Pharmaceuticals (NASDAQ: ENCY) for $2.35 per share, a transaction valued at $195 million in equity. Pfizer will acquire the rights to THELIN, a treatment for PAH currently in pre-Phase III clinical testing in the United States. Pfizer is up almost $0.10 to $22.45 in mid-day trading. The range is $21.56 to $27.73. Encysive is up 110% to $2.27. The 52 week range is $0.59 to $5.02.

Psivida Ltd.  (NASDAQ: PSDV)  Received first R&D payments from Pfizer of $500,000 in part of an over $160 million agreement. Shares are down over 2% at $0.78. The 52 week range is $0.39 to $2.99.

Sirtris Pharmaceuticals, Inc. (NASDAQ: SIRT). Co-founder to present first In-Vivo, pre-clinical data showing SIRT1 activation has the ability to suppress tumor formation in cancer of the intestine and colon. Shares are down trading at $11.59 with a 52 week range of $9.81 to $21.99.

Rachel Lopez
February 20, 2008

Posted on: February 20, 2008 – 1:13 pm in Biotech, , , , , , , , , , ,