Investor Alert


Huntington's Disease

11:02 a.m. March 24, 2021 - By Jaimy Lee
Ionis shares tumble 19% after Roche halts Phase 3 study for rare-disease drugShares of Ionis Pharmaceuticals Inc. were down 19.6% in premarket trading on Tuesday, the day after the company said Roche Holding AG decided to discontinue a late-stage clinical trial for a Huntington's disease treatment candidate. Roche licensed the investigational therapy, tominersen, from Ionis in December 2017. However, an independent data monitoring committee first made the recommendation to discontinue the study. "The program isn't necessarily dead, but it's unlikely to drive much value for the stock near term," Bernstein's Vincent Chen wrote in a note to investors on Tuesday. "This discontinuation doesn't mean that the program is dead. It depends on why it failed." Ionis' stock is up 33.7% over the past 12 months, while the broader S&P 500 has gained 70.9%.
10:03 a.m. Feb. 8, 2021 - By Jaimy Lee
UniQure's stock rallies 7% on positive safety data for Huntington's disease treatmentShares of UniQure gained 7.2% in trading on Monday after the company said an independent data safety monitoring board said there were no safety concerns in a Phase 2/3 clinical trial for its experimental Huntington's disease treatment. The board has reviewed six months of safety data for the first two patients enrolled in the randomized, double-blind study. UniQure said it expects to enroll six more patients who have been diagnosed with the rare neurodegenerative disease by mid-2021. The investigational gene therapy is called AMT-130. "While early, we remain bullish about uniQure's [Huntington's disease] gene therapy and continue to believe the program is nearly all upside from current levels," Raymond James analyst Danielle Brill wrote in a note to investors. Uniqure's stock is down 35.9% for the past year, while the broader S&P 500 has gained 16.5%.
4:40 a.m. Sept. 22, 2020 - By Jaimy Lee
Vaccinex's stock falls after investigational drug fails Huntington's disease studyShares of Vaccinex Inc. tumbled 61.6% in premarket trading on Tuesday after the preclinical biotechnology company said an experimental Huntington's disease treatment, pepinemab, did not meet the primary endpoints in a Phase 2 double-blind, placebo-controlled clinical trial. Earlier this month, Vaccinex had announced plans to study pepinemab in combination with Merck & Co. Inc.'s Keytruda as a possible treatment for advanced forms of metastatic head and neck squamous cell carcinoma. Vaccinex's stock is up 12.8% so far this year. The S&P 500 has gained 1.5%.
4:04 a.m. May 7, 2020 - By Jaimy Lee
Teva shares soar 10% on strong revenue in first quarterShares of Teva Pharmaceutical Industries Ltd. jumped 10.3% in premarket trading on Thursday after the company reaffirmed guidance for 2020 and beat revenue expectations for the quarter. Teva had earnings of $25 million, or 6 cents per share, for the first quarter of 2020, against a loss of $97 million, or 10 cents per share, in the same period ago. Adjusted-per-share earnings came to 76 cents, ahead of the FactSet consensus pf 59 cents. Revenue was $4.3 billion in the first quarter, up from $4.1 billion in the first quarter of 2019. The FactSet consensus for revenue was $4.1 billion. The company attributed the revenue growth to higher sales of generics and over-the-counter products in Europe and Huntington's disease treatment Austedo in North America. Austedo brought in $122 million in sales in the first quarter of 2020, up from $74 million in the first quarter of 2019. In Europe, increased buying of generic drugs as a result of the COVID-19 pandemic fueled sales of those products there. "We estimate that the impact of the COVID-19 pandemic on advanced purchasing patterns was approximately $100 million," Teva said. The company reaffirmed guidance for the year, with revenues of $16.6 billion to $17 billion and EPS of $2.30 to $2.55. Its stock is up 7.3% year-to-date, while the S&P 500 is down 11.8%.
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