Financial Results, Agreements, Meetings, and Clinical Trials - Research Report on Cell Therapeutics, Akorn, Ligand, Intercept Pharmaceuticals and Ariad Pharmaceuticals
20 Nov, 2013, 08:00 ET
NEW YORK, November 20, 2013 /PRNewswire/ --
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Today, Analysts' Corner announced new research reports highlighting Cell Therapeutics, Inc. (NASDAQ: CTIC), Akorn, Inc. (NASDAQ: AKRX), Ligand Pharmaceuticals Incorporated (NASDAQ: LGND), Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT), and Ariad Pharmaceuticals Inc. (NASDAQ: ARIA). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Cell Therapeutics, Inc. Research Report
On November 15, 2013, Cell Therapeutics, Inc. (Cell Therapeutics) along with Baxter International Inc. (Baxter) announced that the two have entered into an exclusive worldwide licensing agreement to develop and commercialize pacritinib - a novel investigational JAK2/FLT3 inhibitor with activity against genetic mutations linked to myelofibrosis, leukemia, and certain solid tumors. Cell Therapeutics stated that under the terms of the agreement, Baxter gains exclusive commercialization rights for all indications for pacritinib outside the U.S., and the Company will commercialize pacritinib in the U.S. together with Baxter. Commenting on the agreement, James A. Bianco, M.D. President and CEO of Cell Therapeutics stated, "We believe Baxter represents the ideal strategic partner to achieve the full potential of pacritinib. Our two companies share a dedication to oncology and a vision for bringing this unique oral JAK2/FLT3 inhibitor to patients with certain blood cancers and solid tumors. This collaboration will provide additional financial resources and commercial expertise to position us to pursue the development, commercialization and market potential of pacritinib." The Full Research Report on Cell Therapeutics, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
Akorn, Inc. Research Report
On November 6, 2013, Akorn, Inc. (Akorn) announced that the Company will be participating at the Midyear Clinical Meeting of American Society of Heath-System Pharmacists (ASHP), to be held from December 2 to December 6, 2013 in Las Vegas, Nevada. The Company informed that ASHP's Midyear Clinical Meeting is the largest gathering of pharmacists in the world that focuses on improving patient care and medication safety, and is attended by over 20,000 pharmacy professionals from about 100 countries. Full Research Report on Akorn, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
Ligand Pharmaceuticals Incorporated Research Report
On November 12, 2013, Ligand Pharmaceuticals Incorporated (Ligand) announced the commencement of a Phase 1 clinical trial with the Company's glucagon receptor antagonist LGD-6972 for the treatment of type 2 diabetes. Ligand stated that the randomized double-bind trial is designed to evaluate the safety and tolerability of ascending single oral doses of LGD-6972 in healthy subjects and in subjects with type 2 diabetes. Matthew W. Foehr, Executive Vice President and COO of Ligand, commented, "We believe glucagon receptor antagonism holds an important potential in the treatment and management of type 2 diabetes. We are excited to begin this Phase 1 study with this novel drug, and look forward to evaluating results in 2014. LGD-6972 is a significant unpartnered asset of Ligand, as approximately 350 million people have diabetes worldwide. The market for diabetes drugs is projected to exceed $60 billion by 2020." The Full Research Report on Ligand Pharmaceuticals Incorporated - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
Intercept Pharmaceuticals, Inc. Research Report
On November 14, 2013, Intercept Pharmaceuticals, Inc. (Intercept Pharmaceuticals) reported its financial results for Q3 2013. Licensing revenue for Q3 2013 was down by 22.6% YoY to $0.4 million. Net loss attributable to common stockholders for the quarter was $31.7 million, or $1.65 per diluted share, compared to net loss attributable to common stockholders of $6.2 million or $1.86 per diluted share in Q3 2012. Intercept Pharmaceuticals stated that with effect from October 1, 2013, it has extended the term of its research program with Servier relating to the discovery of novel TGR5 agonists until September 30, 2015. The Company also announced that its CEO, Mark Pruzanski, M.D, will be presenting at the following upcoming investor conferences: Jefferies 2013 London Healthcare Conference on November 21, 2013 at 8:40 a.m. GMT; 2013 Deutsche Bank BioFEST on December 3, 2013, at 11:20 a.m. ET; and Oppenheimer 24th Annual Healthcare Conference on December 10, 2013, at 3:20 p.m. ET. The Full Research Report on Intercept Pharmaceuticals, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
Ariad Pharmaceuticals Inc. Research Report
On November 12, 2013, Ariad Pharmaceuticals Inc. (Ariad) reported its Q3 2013 financial results. In addition, the Company also announced the actions it is taking to reduce cash used in operations over the next two years and to better align its resources to areas of narrowed strategic focus. During Q3 2013, total revenues were $16.7 million, compared to $85,000 in Q3 2012. Net loss was $66.3 million or $0.36 per diluted share during the quarter, compared to $53.2 million or $0.32 per diluted share in Q3 2012. Ariad Chairman and CEO Harvey J. Berger, M.D., stated, "Following recent corporate developments, we have taken swift action to significantly reduce operating expenses and extend our cash runway. Additionally, we have refocused and reprioritized our investments around near-term, shareholder-value creating activities." The Full Research Report on Ariad Pharmaceuticals Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
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