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Despite recovering in the last three months, Achaogen (AKAO) shares are still down sharply for the year. Year-to-date, the stock has fallen more than 36%. AKAO ended Q2 with $70 million in cash on its balance sheet. The market is significantly undervaluing AKAO’s pipeline. The problem for AKAO is lack of catalysts this year. The company reports top-line data from its Phase 3 trial CARE in the first half of 2017. In the first quarter of 2017, the company will also report top-line data from its EPIC trial. While AKAO looks undervalued at current levels, the market sentiment has turned negative on the biotech in the last few days following the comments from Presidential candidate Hillary Clinton and therefore I would recommend keeping a watch on AKAO rather than entering at current levels.

GlaxoSmithKline Looks to HIV Business- According to a report in the Wall Street Journal, GlaxoSmithKline (GSK) is looking up to its HIV business with a drug that CEO Andrew Witty has described that could be a potential “game changer.” The current standard treatment for HIV involves a three-drug regimen. The drug cocktail though leads to several side effects. Glaxo is looking to change that. The Wall Street Journal notes that the company is hoping its HIV pill is powerful enough to suppress the HIV virus by combing with just one other drug. This would mean fewer side effects.

TG Therapeutics (TGTX) announced that the FDA has granted its lead product candidate TG-1101 (ublituximab), a glycoengineered anti-CD20 monoclonal antibody, an Orphan Drug for the treatment of neuromyelitis optica (NMO) and neuromyelitis optica spectrum disorder (NMOSD).

Roche (RHHBY) announced that the Japanese Ministry of Health, Labour and Welfare approved the use of its cancer med Xeloda (capecitabine) tablets for the adjuvant chemotherapy treatment of rectal cancer. The new indication adds to its current labeling for use in certain breast, colon, colorectal and gastric cancers.

No patents to report.

Transition Therapeutics (TTHI) shareholders have backed the company’s merger with Opko Health (OPK). At a Special Shareholder Meeting, holders representing 93% of outstanding shares voted in favor of the deal.

No secondary offerings to report.

No IPOs to report.

Can-Fite Biopharma (CANF) reported a loss of $0.10 per share in its first half of 2016. The company’s revenue for the first half was $0.11 million.

Company (Ticker) Brokerage Action Recommendation Price Target My Price Target
Abeona Therapeutics (ABEO) FBR & Co. Reiterate Buy

$15

N/A
Amgen (AMGN) Robert W. Baird Reiterate Outperform

$157

$250

Amgen (AMGN) Morgan Stanley Price Target Cut Overweight From $199 to $198

$250

Amgen (AMGN) Leerink Swann Reiterate Market Perform

$201

$250

Amgen (AMGN) Gabelli Initiation Hold N/A

$250

Lion Biotechnologies (LBIO) Roth Capital Reiterate Buy

$15

N/A
Mallinckrodt (MNK) Goldman Sachs & Group Reiterate Neutral

$83

N/A
Mylan (MYL) Evercore ISI Reiterate Hold

$49

N/A
Bio Blast Pharma (ORPN) Roth Capital Reiterate Buy

$15

N/A
Prima Biomed (PBMD) FBR & Co. Reiterate Buy N/A N/A
Vanda Pharmaceuticals (VNDA) JMP Securities Price Target Raised Market Perform From $18 to $22 N/A
Valeant Pharmaceuticals International (VRX) Morgan Stanley Reiterate Overweight

$42

N/A

BioDelivery Sciences International (BDSI)- Barry I Feinberg, Director, bought 2,500 shares in two separate transactions. Feinberg bought 1,500 shares at $2.61; and 1,000 shares at $2.46. Feinberg now owns 17,500 shares of BDSI.

Codexis (CDXS)- Bernard J. Kelley, Director, sold 12,643 shares at $4.26. The total value of the transaction was $53,807. Kelley still owns 222,263 shares of CDXS.

Kite Pharma (KITE)- Cynthia M. Butitta, COO, sold 10,000 shares at $58.28. The total value of the transaction was $582,775. Butitta still owns 95,477 shares of KITE.

Zosano Pharma (ZSAN)- James M. Barrett, a 10% owner, sold 1,200 shares at $1.21. Barrett still owns 2,120,276 shares of ZSAN. New Enterprise Associates 12, a 10% owner, sold 1,200 shares at $1.21. New Enterprise Associates still owns 2,120,276 shares of ZSAN.

IDEXX Laboratories (IDXX)- Rebecca M. Henderson, Director, sold 9,924 shares at $110.43. The total value of the transaction was approximately $1.09 million. Henderson still owns 6,754 shares of IDXX.

Jazz Pharmaceuticals (JAZZ)- Seamus Mulligan, Director, sold 27,968 shares at $128.32. The total value of the transaction was approximately $3.59 million. Mulligan still owns 1,048,008 shares of JAZZ.

United Therapeutics (UTHR)- Martine A. Rothblatt, Chairman & CEO, sold 1,250 shares at $125.29. The total value of the transaction was $156,608. Rothblatt still owns 140 shares of UTHR.

No management changes and additions to report.

NYSE- Axovant Sciences (AXON) shares were among the major gainers on the NYSE. The stock closed 3.79% higher. InVitae (NVTA) shares were among the major losers on the NYSE. The stock closed 4.42% lower.

NASDAQ- Vanda Pharmaceuticals (VNDA) shares were among the major gainers on the NASDAQ. The stock closed 8.19% higher. Synergy Pharmaceuticals (SGYP) ended the day 7.08% higher. Reata Pharmaceuticals (RETA) ended the day 6.31% higher. Corium International (CORI) shares were among the major losers on the NASDAQ. The stock closed 9.64% lower. XBiotech (XBIT) ended the day 8.27% lower. Flex Pharma (FLKS) ended the day 7.92% lower.

NYSEMKT- Palatin Technologies (PTN) shares were among the major movers on the NYSEMKT. The stock closed 3.93% higher.

OTC- Amarantus Bioscience Holdings (AMBS) shares were among the major movers on the OTC market. The stock closed 3.53% lower.

Company (Ticker) Short Interest as a % of Float % Change Days to Cover
Tobira Therapeutics (TBRA)

4.1%

39.8%

0

Tokai Pharmaceuticals (TKAI)

5.9%

-49.4%

1

Tonix Pharmaceuticals (TNXP)

2.5%

1.7%

2

TRACON Pharmaceuticals (TCON)

1.3%

-27.4%

4

Trevena (TRVN)

4.7%

1.8%

4

Trillium Therapeutics (TRIL)

4.8%

-3.1%

6

TrovaGene (TROV)

12.1%

-12.9%

13

TherapeuticsMD (TXMD)

24.6%

2.2%

38

Ultragenyx Pharmaceuticals (RARE)

13.1%

8.2%

10

uniQure (QURE)

8%

-2%

4