Healthcare Review: Prima BioMed, Regeneron, Coronado Biosciences, ViroPharma, Atossa Genetics Print
By Staff and Wire Reports   
Wednesday, 18 September 2013 13:20
U.S. stocks opened little changed on Wednesday ahead of an announcement by the Federal Reserve about the future of its economic stimulus program. The Dow Jones industrial average fell 20.05 points, or 0.13 percent, to 15,509.68, the S&P 500 lost 0.27 points, or 0.02 percent, to 1,704.49 and the Nasdaq Composite added 4.306 points, or 0.11 percent, to 3,750.005.

Prima BioMed ($PBMD) plummets after releasing a topline analysis of the CVac epithelial ovarian cancer Phase 2 study. PFS data prove "inconclusive" as "the estimate of median progression-free survival for all randomized patients resulted in no observed difference between the CVac and control groups. "When estimated separately for patients in first and second remission, median PFS favored the control arm for first remission and CVac for second remission (no statistical significance for either result).It's too early to draw OS conclusions.

Regeneron Pharmaceuticals ($REGN) has been on a nice run of late thanks in part to speculation (fueled by some rather specific comments Chris Viehbacher made last week) that Sanofi (SNY -0.3%) may up its 16% stake to as much as 30% (the maximum allowed under the companies' partnership).REGN is extending its gains today and is set to present Phase 3 VIVID/VISTA Eylea data later this month at the Retina Society's annual meeting.

Coronado Biosciences ($CNDO) is trading notably lower on the session. The move may be attributable to a bearish note out of Summer Street.Just a guess: There may be skepticism around the company's lead product candidate TSO which is in Phase 2 testing for Crohn's disease and ulcerative colitis

Atossa Genetics ($ATOS) soars 29% as the company inks a distribution deal with McKesson Medical-Surgical for the sale of ForeCYTE tests. McKesson's sales force will sell and distribute the tests nationwide. The agreement will "increase ATOS' penetration into all geographical markets while expanding relationships with physician offices," ATOS' VP of sales and marketing says.

ViroPharma ($VPHM) "began working with Goldman Sachs Group Inc. on a possible auction after fielding an unsolicited approach," Bloomberg said last week. Does that make it bad for those anticipating a big takeout premium that Goldman analyst Terence Flynn is out today raising his price target to just $30, more than $10 lower than the stock's current price?

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