Stocks fell today despite the lack of anything significant that would drive down the prices of Netflix (NFLX), Alexion Pharmaceuticals (ALXN) and Facebook (FB), among other high fliers.
ReutersThe S&P 500 fell 0.5% to 1,857.44 as Netflix plunged, 6.7% to $378.90, Facebook declined 4.7% to $64.10 and Alexion Pharmaceuticals dropped 6.3% to $149.76 as biotech stocks continued to sell off. The Dow Jones Industrial Average, however, dropped just 0.2% to 16,276.69 thanks to its lack of stocks like Netflix, Facebook and Alexion Pharmaceuticals. The Dow was also helped by the strong performance of International Business Machines (IBM), which rose 0.9% to $188.25 and Procter & Gamble (PG), which advanced 1.8% to $79.30.
Don’t blame global economic activity, says JPMorgan’s David Hensley, which is looking OK despite disappointment in China:
Top Blue Chip Companies To Own For 2015: Furiex Pharmaceuticals Inc (FURX)
Furiex Pharmaceuticals, Inc. is a drug development collaboration company. The Company�� product pipeline includes two marketed products and three programs in development, including late-stage compounds, in multiple therapeutic areas. Its programs include Priligy, Alogliptin Nesina, Alogliptin/Actose Combination, Alogliptin/Metformin Combination, Fluoroquinolone, Mu Delta and PPD 10558. In November 2011, it acquired full exclusive license rights to develop and commercialize the compound MuDelta under its existing development and license agreement with Janssen Pharmaceutica N.V.
Priligy (dapoxetine) is a drug developed for the on-demand treatment of premature ejaculation (PE). Dapoxetine is a short-acting, selective serotonin reuptake inhibitor (SSRI) designed to be taken only when needed one to three hours before sexual intercourse is anticipated rather than every day. Nesina (alogliptin) is a drug for the oral treatment of type 2 diabetes (T2D). Alogliptin is a DPP-4 inhibitor that slows the inactivation of incretin hormones glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic peptide (GIP).
Fluoroquinolone drug candidate is a Phase II-ready novel fluoroquinolone antibiotic that is being developed by the Company for the treatment of complicated skin and skin structure infections, such as abscesses that occur deep in the skin layers and respiratory infections. This antibiotic has a spectrum of activity and is able to treat methicillin-resistant staphylococcus aureus (MRSA) infections. The Company is developing both oral and intravenous (IV) formulations. The Company is developing Mu Delta for treatment of diarrheal predominant irritable bowel syndrome (d-IBS). The Company is conducting a Phase II study on an oral formulation of Mu Delta.
The Company is developing PPD 10558 for the treatment of dyslipidemia. PPD 10558 has shown muscle safety in preclinical studies by minimizing the delivery of the drug to the muscle. The Company has filed an inve! stigational new drug (IND) application with the United States Food and Drug Association and completed five clinical studies.
Advisors' Opinion:- [By Jake L'Ecuyer]
Top Headline
Forest Laboratories (NYSE: FRX) announced its plans to buy Furiex Pharmaceuticals (NASDAQ: FURX) for up to $1.46 billion. Forest will pay around $95 per share, or around $1.1 billion in cash. Forest Labs will also pay up to $30 per share, or around $360 million in a contingent value right. The deal is projected to close in the second or third quarter of 2014. - [By Lisa Levin]
Furiex Pharmaceuticals (NASDAQ: FURX) shares moved up 28.41% to $102.92. The volume of Furiex Pharmaceuticals shares traded was 2285% higher than normal. Forest Labs (NYSE: FRX) announced its plans to buy Furiex Pharma for up to $1.46 billion.
Best Biotech Stocks For 2014: Incyte Corporation(INCY)
Incyte Corporation focuses on the discovery and development of proprietary small molecule drugs for hematologic and oncology indications, and inflammatory and autoimmune diseases. Its product pipe line includes INCB18424, which is in Phase III clinical trial for myelofibrosis; Phase III trial for polycythemia vera; Phase III trial for essential thrombocythemia; Phase I/II trial to treat solid tumors/other hematologic malignancies; and Phase IIb trail for the treatment of psoriasis. The company?s portfolio also includes INCB28050, a Phase IIb clinical trial product for rheumatoid arthritis; INCB28060, a Phase I/II product for solid tumors; INCB7839, a Phase II product for breast cancer; and INCB24360, a Phase I/II product for solid tumors. It has a collaborative research and license agreements with Novartis International Pharmaceutical Ltd.; Eli Lilly and Company; and Pfizer Inc. The company was founded in 1991 and is headquartered in Wilmington, Delaware.
Advisors' Opinion:- [By John McCamant]
Incyte Pharmaceuticals (INCY) recently held their quarterly conference call. Importantly, sales for Jakafi��n advanced compound used for the treatment of patients with intermediate or high-risk myelofibrosis (MF)��et or exceeded Wall Street's expectations.
- [By John McCamant]
Incyte's (INCY) crackerjack medicinal chemistry team continues to show that they can create better and differentiated drug candidates from the competition.
The key near-term driver for INCY is Jakafi growth, and with the increased sales guidance, the company is delivering. The drug's overall profile continues to improve and the recent survival data proves that Jakafi does much more for myelofibrosis patients than just control symptoms.
- [By Paul Ausick]
Big earnings winners: Incyte Corp. (NASDAQ: INCY) up 34.4% to $36.02 on a successful drug trial, Target Corp. (NYSE: TGT) down 3.5% to $65.54 on weak earnings and lowered outlook, and Lowe�� Companies Inc. (NYSE: LOW ) up 4.4% at $46.01 on strong earnings and an improved outlook.
- [By Ben Levisohn]
Vertex has dropped 6.1% to $66.97 today at 2:24 p.m. but it’s fall doesn’t seem to be having an impact on other biotech companies. Incyte (INCY) gained 2% to $39.77, Acorda Therapeutics (ACOR) has gained 0.7% to $30.83 and Regeneron Pharmaceuticals (REGN) has dropped 0.6% to $285.96.
Best Biotech Stocks For 2014: Tonix Pharmaceuticals Holding Corp (TNXP)
Tonix Pharmaceuticals Holding Corp., incorporated on November 16, 2011, is a specialty pharmaceutical company focused on developing novel pharmaceutical products for disorders of the central nervous system (CNS). The Company develops TNX-102 sublingual tablet, or TNX-102 SL. TNX-102 SL is a novel dose and formulation of cyclobenzaprine (CBP), the active pharmaceutical ingredient of two prescribed muscle relaxant products, Flexeril and Amrix. TNX-102 SL is also intended for chronic use. It develops TNX-102 SL for the treatment of FM under a United States Investigational New Drug application (IND), and under three clinical trial applications (CTAs), filed in Canada. It also develops TNX-102 SL for the treatment of post-traumatic stress disorder (PTSD). As of January 25, 2013, the Company focuses on product development, and had not generated any revenues.
The Company searches for potential therapeutic solutions among known pharmaceutical agents that lack regulatory approval for the indications it seeks, but may be approved for use in other indications. It seeks to create new dose and formulation options that are tailored to the therapeutic uses to which it applies these agents. TNX-102 SL is a small, rapidly disintegrating tablet containing CBP for sublingual administration at bedtime. The Company designed TNX-102 SL for delivery of CBP to the systemic circulation through sublingual transmucosal absorption and to avoid first-pass liver metabolism.
CBP is the active pharmaceutical ingredient in its lead product candidate, TNX-102 SL. In addition to CBP, TNX-102 SL contains inactive ingredients, called excipients, which are approved for pharmaceutical use. In addition to TNX-102 SL, it develops other formulations of CBP, including TNX-102 promicellar gelatin capsule, or TNX-102 gelcap. It developed TNX-102 gelcap under an agreement with Lipocine, Inc. (Lipocine), a contract formulation developer and small-scale manufacturer. In addition it has other pipeline of other product cand! idates, including TNX-201 and TNX-301. TNX-201 is based on isometheptene mucate and is under development as a treatment for certain types of headaches.
Advisors' Opinion:- [By John Udovich]
It�� a new year and the first one and a half trading weeks of 2014 has not disappointed biotech investors as the sector and mid cap or small cap biotech or�pharma stocks like Intercept Pharmaceuticals Inc (NASDAQ: ICPT), Epizyme Inc (NASDAQ: EPZM), Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) and TNI BioTech Inc (OTCQB: TNIB) either surging or producing some news plus there have been IPO filings for future listings for�Flexion Therapeutics (NASDAQ: FLXN), Aldexa Therapeutics (NASDAQ: ALDX), Retrophin (NASDAQ:�RTRX) and Dicerna Pharmaceuticals (NASDAQ: DRNA). Consider the following news so far this year:
- [By John Kell]
Tonix Pharmaceuticals Holding Corp.(TNXP) is planning to offer some shares to raise money to fund clinical trials and the continued development of the specialty pharmaceutical company’s treatments. Shares edged up 2.1% to $16.75 premarket.
Best Biotech Stocks For 2014: PTC Therapeutics Inc (PTCT)
PTC Therapeutics, Inc., incorporated on March 31, 1998 , is a biopharmaceutical company focused on the discovery and development of orally administered, small-molecule drugs that target post-transcriptional control processes. The Company�� lead product candidate includes ataluren, which is used for the treatment of patients with genetic disorders that arise from a type of genetic mutation known as a nonsense mutation. Ataluren is in late stage clinical development for the treatment of Duchenne muscular dystrophy caused by nonsense mutations (nmDMD) and cystic fibrosis caused by nonsense mutations (nmCF).
Ataluren is orally administered small-molecule compound that targets nonsense mutations. The Company is engaged in the development of ataluren for the treatment of genetic disorders in, which a nonsense mutation is the cause of the disease. Genetic tests are available for many genetic disorders, including Duchenne muscular dystrophy and cystic fibrosis, to determine if the underlying cause is a nonsense mutation. The EMA has designated ataluren as an orphan medicinal product for the treatment of nmDMD and nmCF. During the year ended December 31, 2012, the Phase III clinical trial completed. The Company�� Ataluren clinical trials in patients with nonsense mutation genetic disorders include Ataluren for nmDMD: Phase 2b clinical trial complete; Confirmatory Phase III clinical trial initiated, and Ataluren for nmCF: Phase III trial completed.
Advisors' Opinion:- [By John Kell]
PTC Therapeutics Inc.(PTCT) said the European Medicines Agency’s Committee for Medicinal Products for Human Use issued a negative opinion on the biopharmaceutical company’s marketing authorization application for its muscular dystrophy treatment. Shares slumped 21% to $20.60 in premarket trading.
Best Biotech Stocks For 2014: Agios Pharmaceuticals Inc (AGIO)
Agios Pharmaceuticals, Inc., incorporated on August 7, 2007, is a biopharmaceutical company. The Company is intend to apply its deep understanding of metabolism, coupled with the Company�� ability to create medicines that can inhibit or activate metabolic enzymes, to fundamentally change the way cancer and inborn errors of metabolism (IEMs) are treated. The Company has identified and validated novel and druggable targets in both cancer and IEMs. The Company�� two advanced cancer programs are targeting mutations in the enzymes isocitrate dehydrogenase 1 and 2, referred to as IDH1 and IDH2. The Company�� drug candidates are selective for the mutated forms of IDH1 and IDH2 found in cancer cells versus the normal forms of IDH1 and IDH2 found in all other cells.
The Company focused on developing medicines to address IEMs, with a novel approach to these orphan diseases for which no effective or disease-modifying therapy is available. The Company has also de-validated and terminated numerous programs, including many that have been reported in scientific journals. In the Company�� IEM portfolio, it uses an equally rigorous set of validation techniques.
Advisors' Opinion:- [By Lisa Levin]
Agios Pharmaceuticals (NASDAQ: AGIO) shares touched a new 52-week low of $18.83. Agios Pharmaceuticals' trailing-twelve-month profit margin is -102.87%.
- [By Jake L'Ecuyer]
Shares of Agios Pharmaceuticals (NASDAQ: AGIO) got a boost, shooting up 29.08 percent to $40.84 after the company reported quarterly results.
Stage Stores (NYSE: SSI) was also up, gaining 13.47 percent to $22.41 after the company reported Q4 results and announced the sale of its Steele's off-price division to a new retail unit of Hilco Global.
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