|Healthcare Review: Regado Biosciences, Sanofi, NeoStem, Kythera Biopharmaceuticals|
|By Staff and Wire Reports|
|Tuesday, 17 September 2013 13:49|
Regado Biosciences ($RGDO) adds to Monday's analyst coverage-fueled gains. Earlier today, the company announced the enrollment of the first subject in a Phase 3 trial of REG1 in "patients undergoing percutaneous coronary intervention electively or for the treatment of unstable angina or non-ST elevated myocardial infarction." (PR)Make no mistake, this is a big deal for RGDO, which priced its IPO at $4 last month after initially filing to sell shares at $14-16 — "If I knew why we missed we'd have hit the target goal," CEO David Mazzo tells FierceBiotech.
Rising along with Sanofi ($SNY) after the European Commission approves Lemtrada for treatment of multiple sclerosis are the CVRs ((GCVRZ)) on the drug issued to Genzyme shareholders upon its sale to Sanofi. These rights offer a $1 payout to their owners upon approval by the FDA, and then milestone payments based on sales targets. Purchase of the CVRs was one of SA Pro's Chris DeMuth's top ideas at the start of the year. Including today's near 5% gain, they're ahead by about 10% since the article was published, but have significantly more upside, says DeMuth.
NeoStem ($NBS) say that the Data Safety Monitoring Board for the Phase II trial of its AMR-001 drug has recommended continuing the study following a third interim data and safety review.AMR-001 is being tested for its ability to preserve heart function after a severe heart attack, with the trial comprising 160 patients.
Monday's AH rally in shares of Kythera Biopharmaceuticals ($KYTH) looks set to carryover into today's regular session. Leerink sees a near 50% upside from Monday's close after the company's submental fat treatment ATX-101 met its primary endpoints in two Phase 3 studies. "We are ... introducing a blended DCF and comparable multiple price target of $50/shr in the next 12 months, consistent with biotech's 56x multiple on 2017E sales which we believe more fully reflects KYTH's strategic value," analyst Seamus Fernandez says.