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Allergan ($AGN) reported positive results of two Phase 3 clinical trials assessing orally administered sarecycline in people with moderate-to-severe acne. The studies met their 12 week primary efficacy endpoints. Participants receiving 1.5 mg/kg/day of sarecycline experienced statistically significant reductions in inflammatory lesion counts compared to placebo. The most common adverse events in the treatment group were nausea, nasopharyngitis and headache. The discontinuation rate in the combined studies was 1.4%.

Allergan now is looking to file a New Drug Application with the FDA during the second half of the year. The company stock is up 13 percent on Year to Date basis while it lost 15 percent of its value in the past 12 months.

Aurinia Pharmaceuticals ($AUPH) stock spiked as the company announced positive results from its open-label study, AURION, assessing lead product candidate voclosporin in patients with lupus nephritis. The study met its primary endpoint of demonstrating that early biomarker response in active LN patients can be a significant predictor of renal response at weeks 24 and 48. AURION is a 10-subject exploratory study being conducted in Malaysia.

The company stock has gained 281 percent this year so far. In the past 12 months, it has gained 167 percent. Aurinia also stated that no new safety signals were observed with the use of voclosporin in LN patients and voclosporin was well-tolerated.

 

PTC Therapeutics ($PTCT) announced withdrawal of its  marketing application in Europe seeking approval of Translarna (ataluren) in cystic fibrosis. The drug candidate had failed its Phase 3 trial, unable to meet its primary and secondary endpoints. The company had reported that it would terminate the development of ataluren in CF, shut down the ongoing extension studies and withdraw the marketing application in Europe.

Eli Lilly ($LLY) announced that it plans to invest $850 million this year in U.S. capital projects, including research laboratories, manufacturing facilities and general/admin areas. The plan also includes its new $85 million expansion of its domestic Trulicity (dulaglutide) device assembly operations. The company announced the plans at  the Lilly Technology Center.

Bristol Myers Squibb ($BMY) has received a positive opinion from the  European Medicines Agency's Committee for Medicinal Products for Human Use for its Opdivo (nivolumab) as a single agent to treat squamous cell cancer of the head and neck in adult patients progressing on or after platinum-based chemo. Opdivo is already approved by the EC for six indications in four distinct tumor types. The CHMP adopted a positive opinion based on results from CheckMate -141, a pivotal Phase 3 open-label, randomized trial, that evaluated the overall survival (OS) of Opdivo.

ArQule ($ARQL) announced that its lead  product candidate tivantinib, failed to beat placebo as measured by progression-free survival. The drug was being tested in a Phase 3 clinical trial, JET-HCC, in 190 Japanese patients with c-Met diagnostic-high inoperable hepatocellular carcinoma. In February, tivantinib had failed to beat best supportive care in a late-stage HCC study.

 

Align Technology ($ALGN) announced inking a new deal with Zimmer Biomet's Zfx GmbH. This non-exclusive agreement will allow it to act  as a sales agent for iTero Element intraoral scanners through Zfx's dental network in Europe, Asia and Africa. The parties did not disclose the financial terms.

Novartis ($NVS) signed a new deal with PureTech Health. Under the terms of the agreement, Novartis out-licenses two mTORC1 inhibitors for aging-related indications. PureTech will develop the candidates under a new subsidiary called resTORbio. The new subsidiary will also have an exclusive license to two clinical stage programs. Novartis will receive equity in resTORbio and will be eligible to receive future milestones and royalties on net sales.

 

Strongbridge Biopharma PLC ($SBBP) announced that for the twelve months ended December 31, 2016, basic and diluted net loss attributable to ordinary shareholders was $48.6 million and $49.2 million, respectively. Its  basic and diluted net loss per share attributable to ordinary shareholders was $2.26 per basic share and $2.27 per diluted share, respectively.

Onconova Therapeutics ($ONTX) announced that its net loss  was $19.7 million for the year ended December 31, 2016, compared to $24.0 million for the year ended December 31, 2015. Its cash and cash equivalents as of December 31, 2016, totaled $21.4 million, compared to $19.8 million as of December 31, 2015.

Brokerage
Action
Company
Rating
Price Target
Impact on Share Price
Robert W. Baird
Upgrades
The Advisory Board Company (ABCO)
Neutral -> Outperform
$50.00 -> $53.00
Low
JMP Securities
Downgrades
Adeptus Health (ADPT)
Market Perform -> Underperform

Low
Stifel Nicolaus
Raises Target
Bioverativ (BIVV)
Buy
$54.00 -> $57.00
Low
Jefferies Group LLC
Upgrades
Brookdale Senior Living (BKD)
Hold -> Buy
$16.50
Low
HC Wainwright
Raises Target
CymaBay Therapeutics (CBAY)
Buy
$7.00
Low
HC Wainwright
Initiates
CytomX Therapeutics (CTMX)
Buy
$24.00
Low
Mizuho
Raises Target
Community Health Systems (CYH)
Neutral
$7.50 -> $10.00
High
Evercore ISI
Upgrades
Edwards Lifesciences Corp (EW)
Outperform

High
Cowen and Company
Initiates
EXACT Sciences (EXAS)
Outperform
$30.00
High
Mizuho
Upgrades
HCA Holdings (HCA)
Neutral -> Buy
$98.00
Low

Gainers (% price change)
Last Trade
Change
Mkt Cap
Community Health Systems
CYH
9.54
+0.83 (9.53%)
1.12B
DexCom, Inc.
DXCM
82.62
+6.54 (8.60%)
7.01B
Tenet Healthcare Corp
THC
18.28
+1.26 (7.40%)
1.90B
Enzo Biochem, Inc.
ENZ
8.43
+0.52 (6.57%)
391.73M
Acadia Healthcare Co. Inc
ACHC
41.93
+2.36 (5.96%)
3.67B
Losers (% price change)

Invacare Corporation
IVC
11.20
-0.28 (-2.40%)
359.84M
Sangamo Therapeutics Inc
SGMO
4.10
-0.10 (-2.38%)
305.12M
RadNet Inc.
RDNT
5.80
-0.10 (-1.69%)
285.86M
BioSpecifics Tech. Corp.
BSTC
50.73
-0.85 (-1.65%)
363.37M
CyberOptics Corporation
CYBE
24.70
-0.40 (-1.59%)
171.34M
Most Actives (dollar volume)

Pfizer Inc.
PFE
34.00
-0.29 (-0.85%)
201.42B
UnitedHealth Group Inc
UNH
165.00
-0.29 (-0.18%)
156.94B
Johnson & Johnson
JNJ
125.48
-0.40 (-0.32%)
339.19B
Humana Inc
HUM
207.27
-2.64 (-1.26%)
29.43B
Merck & Co., Inc.
MRK
63.18
-0.08 (-0.13%)
173.47B