|Shares Of Omeros Higher As Wedbush Lifts Target; Monsanto Reports Wider Loss|
|By Staff and Wire Reports|
|Wednesday, 02 October 2013 19:10|
Omeros (NASDAQ: OMER) shares spiked over the $11 technical level in morning trade Wednesday following a mid-day research note from Wedbush's Liana Moussatos. The stock is now up more than 16 percent for the session.
Moussatos boosted her fair value estimate on Omeros from $28 to $32 while reiterating an Outperform rating.
The Wedbush analyst said, "With U.S. and EU regulators formally accepting OMS302 for review, the time clock for approval begins. With a July 2013 submission and our anticipation of a 10-month U.S. review for the OMS302 NDA, we estimate a PDUFA date in May 2014."
Moussatos does not expect any delays given the recent "stellar" results from each Phase 3 trial of OMS302.
Moussatos is modeling for peak global gross sales for the product at around $500 million. She is anticipating a possible partnership and Phase 2 results for OMS824 by the end of 2013.
With Omeros shares last trading at $11.27, Moussatos new fair value estimate suggests potential upside of more than 180 percent.
Monsanto Co (NYSE: MON) reported a wider fiscal fourth-quarter loss.
Monsanto posted a quarterly loss of $249 million, or $0.47 per share, versus a year-ago loss of $229 million, or $0.44 per share. Its revenue surged to $2.20 billion from $2.10 billion. However, analysts were estimating a loss of $0.43 per share on revenue of $2.26 billion.
Monsanto announced its plans to buy The Climate Corporation for $930 million in cash. It expects FY14 earnings of $5 to $5.20 per share, versus analysts' estimates of $5.31 per share.
Ambit Biosciences (Nasdaq: AMBI), a biopharmaceutical company focused on discovery and development of drugs targeting unmet needs in oncology, autoimmune and inflammatory disease, today announced the Company's participation at the 12th Annual BIO Investor Forum to be held at the Palace Hotel in San Francisco, October 8-9, 2013.
Arrhythmia Research Technology, Inc. (NYSE MKT: HRT) reported today that it is updating its preliminary earnings results for the second quarter.
Can-Fite BioPharma Ltd. (TASE: CFBI), (OTCQB: CANFY), a biotechnology company developing a pipeline of small molecule drugs that address inflammatory and cancer diseases, announced today that Dr. Sari Fishman, the Director of Clinical Affairs of OphthaliX Inc. (OTCQB: OPLI), its subsidiary, will deliver a company presentation at the Ophthalmology Futures European Forum™ in Amsterdam, The Netherlands.
CAS Medical Systems, Inc. (Nasdaq:CASM), a leader in medical devices for non-invasive patient monitoring, today announced it has named Brian J. Wagner as Chief Commercial Officer, effective immediately.
Fate Therapeutics, Inc. (Nasdaq:FATE), a biopharmaceutical company engaged in the discovery and development of adult stem cell modulators to treat orphan diseases, announced today that its Senior Vice President, Early Program Development, Dr. Peter Flynn, Ph.D., is scheduled to present at the 18th International World Muscle Society Congress (WMS) taking place in Asilomar, CA on October 1-5.
FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported its fiscal 2013 results for the year ended June 30, 2013.
GreeneStone Healthcare Corporation (OTCBB:GRST), a provider of healthcare services and operator of several mental health clinics, announced today that on September 30, 2013, the Company paid off its $108,500 convertible promissory note (the "Note") with Asher Enterprises, Inc., including all interest and other payments due thereon.
The Board of Directors has unanimously appointed Mr. Robert McDermott on July 3rd, 2013 to become iMedicor's (OTC Pink: VMCI) new President & CEO.
LeMaitre Vascular, Inc. (Nasdaq:LMAT), announced today that it will release its third quarter 2013 financial results on October 29, 2013, after the market close.
The Medicines Company (NASDAQ: MDCO) has scheduled a webcast of its upcoming Investor & Analyst Day on Wednesday, October 9, 2013, from 8:30 am to 12:00 pm Eastern Time.
MMRGlobal, Inc. (OTCQB: MMRF), a leading provider of Personal Health Records (PHRs), MyEsafeDepositBox storage solutions and electronic document management and imaging systems for healthcare professionals, today announced that two additional patents will be granted for its B-cell vaccine technologies.
Omeros Corporation (NASDAQ: OMER) announced today that the New Drug Application (NDA) for its ophthalmology product, OMS302, has been confirmed for filing by the U.S. Food and Drug Administration (FDA), which means that the application, submitted in July of this year, is sufficiently complete to permit a substantive review.
OphthaliX Inc. (OTCBB: OPLI), announced today that Dr. Sari Fishman, Director of Clinical Affairs, will deliver a company presentation at the Ophthalmology Futures European Forum™ in Amsterdam, The Netherlands.
PDL BioPharma, Inc. (NASDAQ: PDLI) announced today that it closed a financing transaction with LENSAR, Inc., a leader in next-generation femtosecond laser technology for refractive cataract surgery, in which PDL will provide LENSAR with up to $60 million of debt financing, as part of an $87 million total financing for LENSAR.
Pluristem Therapeutics Inc. (NASDAQCM: PSTI) (TASE:PLTR), a leading developer of placenta-based cell therapies, announced today that the Israeli Ministry of Health has approved the company’s request to initiate a Phase II study using its PLacental eXpanded (PLX) cells in the treatment of Intermittent Claudication (IC), a subset of peripheral artery disease (PAD).
Sequenom, Inc. (NASDAQ: SQNM), a life sciences company providing innovative diagnostic testing and genetic analysis solutions, today announced that it has submitted Premarket 510(k) Notifications to the United States Food and Drug Administration (FDA) for its IMPACT Dx™ System and its IMPACT Dx™ Factor V Leiden and Factor II Genotyping Test.
Transcat, Inc. (Nasdaq:TRNS), a leading provider of accredited calibration, repair, inspection and compliance services and distributor of professional grade, handheld test, measurement and control instrumentation, announced that John Harms joined the Company as Vice President of Compliance Services.
TNI BioTech, Inc. (OTCQB: TNIB), today announced TNI BioTech International, Ltd., its wholly owned British Virgin Islands subsidiary, signed a distribution agreement with AHAR Pharma, a Nigerian Company, to market Lodonal™, in Nigeria for the treatment of autoimmune diseases and cancer.
WaferGen Bio-systems, Inc. (OTCQB: WGBS) announced today that it has completed a private placement to accredited investors of $15,037,500 of units consisting of shares of common stock, shares of Series 1 convertible preferred stock and warrants to purchase shares of common stock.