|Healthcare Review: Gilead Sciences, Sangamo BioSciences, Lilly, Endocyte, IsoRay|
|By Staff and Wire Reports|
|Friday, 21 March 2014 15:14|
Concerned that the high cost will restrict access to Sovaldi for many hepatitis C patients, members of Congress ask CEO John Martin for a briefing on the matter. A full regime of Gilead Sciences' ($GILD -3.5%) drug costs $84,000, but when combined with J&J's Olysio, the cost balloons to $150,000.
Sangamo BioSciences ($SGMO) prices its offering of 4,444,444 common shares at $22.50. The overallotment is 666,666 shares. The company expects it to close on or about March 26.Proceeds to fund general corporate purposes including R&D, expanding manufacturing capabilities, clinical trials and potential acquisitions.
The EMA's Committee for Medicinal Products for Human Use (CHMP) recommends approval for Boehringer Ingelheim and Eli Lilly's ($LLY) empagliflozin, a sodium glucose co-transporter 2 inhibitor, as an adjunct to diet and exercise to improve glycemic control in type 2 diabetics. The positive opinion is based on clinical trials involving more than 13,000 adults with type 2 diabetes. The European Commission usually issues a legally binding decision within 3 months of a CHMP opinion. Like the US, it typically follows the Committee's view.
Shares of Endocyte ($ECYT) are up a whopping 147% on 2.5M shares before the open in response to a positive opinion from the European Medicines Committee recommending approval of it ovarian cancer products.
IsoRay ($ISR) sells 5,644,300 shares to institutional investors in a direct offering for $2.60/share. Gross proceeds are $14.7M and will be used for general corporate purposes. Yesterday's close was $3.30.Investors should expect high volatility with this one.