|Healthcare Review: Galena Biopharma, Trovagene, Intercept Pharmaceuticals, Five Prime Therapeutics, Bristol-Myers Squibb|
|By Staff and Wire Reports|
|Monday, 17 March 2014 14:34|
Controversial biotech Galena Biopharma ($GALE) will report Q4 and 2013 results after today's close. Consensus estimates for the quarter are a loss of $0.09/share on revenues of $1.6M. Estimates for the year are a loss of $0.41/share on revenues of $2.7M.Consensus views for 2014 are a loss of $0.36/share on revenues of $12.6M.96 mutual funds have positions, up from 27 a year earlier.
Nano cap biotech Trovagene ($TROV) debuts a KRAS genetic test that utilizes a urine sample instead of blood or tissue. The company offers the test as a service (laboratory-developed test). It detects the seven most common mutations in the KRAS oncogene. Consensus revenue estimates for 2013 and 2014 are $360K and $4.2M, respectively.
Despite the announcement of positive phase III results for obeticholic acid, shares of Intercept Pharmaceuticals ($ICPT) are poised for a gap down at the open. According to Adam Feuerstein, the product caused cardiovascular side effects in a separate phase II trial. This was disclosed in the company's recent 10-K. Intercept says the side effects are insignificant.
Five Prime Therapeutics ($FPRX) and Bristol-Myer Squibb ($BMY) sign a collaboration deal for the discovery, development and commercialization of immuno-oncology therapies directed toward two immune checkpoint pathways using FPRX's target discovery platform. Drug candidates may be single agents or used in combination with existing BMY therapies.
The FDA approves Bristol-Myers Squibb ($BMY) and Pfizer's ($PFE) sNDA for Eliquis (apixaban) for the prophylaxis of deep vein thrombosis for patients who have undergone knee or hip replacement surgery. In the U.S., 719,000 knee replacement and 332,000 hip replacement surgeries are performed each year. The product is indicated to reduce the risk of stroke and systemic embolism in patients with nonvalvular atrial fibrillation.