The Zacks Analyst Blog Highlights:Regado Biosciences, Jazz Pharmaceuticals, Regeneron Pharmaceuticals, Sanofi and Amgen
CHICAGO, July 10, 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 Regado Biosciences (Nasdaq:RGDO-Free Report), Jazz Pharmaceuticals (Nasdaq:JAZZ-Free Report), Regeneron Pharmaceuticals (Nasdaq:REGN-Free Report), Sanofi (NYSE:SNY-Free Report) and Amgen (Nasdaq:AMGN-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
It was business as usual for the biotech sector last week with highlights including a deal for the acquisition of product rights, encouraging study results and the granting of breakthrough therapy status for an experimental cancer treatment. However, the event that stood out was the unplanned initiation of data review by a Data Safety Monitoring Board (DSMB) for a late-stage study.
Overall, shares were down last week with the NASDAQ Biotechnology Index declining 3.6% in contrast to the previous week's performance (Biotech Stock Roundup: Vertex Jumps on Phase III Data, MannKind Scores FDA Approval).
Recap of the Week's Most Important Stories
1. Regado Biosciences (Nasdaq:RGDO-Free Report) saw its shares plunging 58% on news that a data safety monitoring board (DSMB) is conducting an unplanned review of data from the phase III REGULATE-PCI study on Revolixys Kit. While the safety and treatment/benefit risk ratio for all patients will be analyzed, focus will be on serious adverse events related to allergic reactions. Until the analysis is completed and the DSMB's recommendation is available, new patients will not be enrolled.
The news is disappointing considering Revolixys Kit is the lead candidate in the company's pipeline. The cropping up of safety issues would be a major setback for the company and would limit the potential of the candidate even if development continues (Read more: Regado Slumps on Revolixys Study Halt).
2. Jazz Pharmaceuticals (Nasdaq:JAZZ-Free Report) entered into an agreement worth up to $250 million last week to boost its product portfolio. The company will acquire rights to defibrotide in the U.S. and all other countries in the Americas from Sigma-Tau. This means that Jazz will own full rights to defibrotide – the company is already marketing the candidate in the EU under the trade name Defitelio. Jazz's shares were up almost 7% on the agreement (Read more: Jazz Pharmaceuticals to Buy Rights to Defibrotide, Shares Up).
3. Regeneron Pharmaceuticals' (Nasdaq:REGN-Free Report) shares were up more than 7% on news that Sanofi (NYSE:SNY-Free Report) has increased its stake in the company. (Read more: Regeneron Shares Jump as Sanofi Increases Stake).
4. Biotech major Amgen (Nasdaq:AMGN-Free Report) got breakthrough therapy status from the FDA for its experimental leukemia drug, blinatumomab. Breakthrough status, a new designation that became effective after Jul 9, 2012, is designed to cut short the development time of promising new treatments. Amgen, on its first quarter call, had said that it will be entering into discussions with regulatory authorities to discuss the possibility of filing for blinatumomab's approval based on confirmatory phase II data (Read more: Amgen Gets Breakthrough Therapy Status for Leukemia Drug).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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