CHICAGO, Dec. 18, 2014 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Sophiris (Nasdaq:SPHS-Free Report), ChemoCentryx (Nasdaq:CCXI-Free Report), Exelixis (Nasdaq:EXEL-Free Report), Roche (OTC:RHHBY-Free Report) and Alexion (Nasdaq:ALXN-Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Wednesday's Analyst Blog:
Biotech Stock Roundup
With the holiday season upon us, it's been a relatively quiet week for the biotech sector with very few pipeline and regulatory updates. However, companies like Sophiris (Nasdaq:SPHS-Free Report) and Cyclacel saw their shares plunging on disappointing pipeline updates.
Recap of the Week's Most Important Stories
1. Sophiris faced a major pipeline setback following an interim analysis of an ongoing late-stage study on its experimental prostate cancer treatment, PRX302. An early look at the data from the study evaluating PRX302 as a treatment for lower urinary tract symptoms of benign prostatic hyperplasia showed that a predefined efficacy threshold was not met. This is highly disappointing news for the company and shares plummeted 81.5% (Read more: Sophiris Plunges on Disappointing Data on its BPH Candidate).
2. Cyclacel's shares plunged 75.9% on news that the company's experimental leukemia treatment, sapacitabine, is not likely to meet the primary endpoint in a late-stage study. A planned interim analysis showed that the futility boundary had been crossed and the study will most likely fail to achieve a statistically significant improvement in survival. This is indeed disappointing news considering sapacitabine is the lead candidate in Cyclacel's pipeline.
3. ChemoCentryx's (Nasdaq:CCXI-Free Report) shares were up almost 25% on positive top-line data from a mid-stage study evaluating CCX140 for diabetic nephropathy, a type of kidney disease. Based on the encouraging data, ChemoCentryx should be in a position to move the candidate into phase III studies and also seek partnership opportunities (Read more:ChemoCentryx Up on Positive Diabetic Nephropathy Data).
4. Exelixis' (Nasdaq:EXEL-Free Report) collaboration partner Roche (OTC:RHHBY-Free Report) is seeking FDA approval for their combination skin cancer treatment – cobimetinib plus Zelboraf. The companies are seeking EU approval as well. Phase III results showed that the cobimetinib - Zelboraf combination cut the risk of disease worsening or death by half. Median progression free survival was 9.9 months for the combination treatment compared to 6.2 months for Zelboraf alone (Read more: Roche Submitted NDA for Melanoma Combination Drug).
5. Alexion (Nasdaq:ALXN-Free Report) got orphan drug status for Soliris for yet another indication in Japan. The product, which already has orphan drug designation in Japan for paroxysmal nocturnal hemoglobinuria (PNH), has now been granted orphan drug status for myasthenia gravis (MG), a rare, debilitating neurologic disorder.
Orphan drug status is granted in Japan to drugs and medical devices targeting serious diseases with high unmet medical need that affect less than 50,000 patients in the country. This designation provides benefits and incentives like priority review and 10 years of market exclusivity once approval is obtained (Read more: Alexion's Soliris Receives Orphan Drug Status in Japan).
Alexion also announced its intention to buy back shares worth up to an additional $500 million. The company's current $400 million share buyback program has approximately $22 million remaining (Read more: Alexion Announces New Share Repurchase Program of $500M).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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