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Forward Pharma A/S ($FWP) surged in the premarket session as it emerged that it has signed a Settlement and License Agreement with Biogen ($BIIB). Both the companies were engaged in a dispute over a patent covering methods of treating multiple sclerosis (MS) with 480 mg of dimethyl fumarate (DMF), the active ingredient in Biogen's top selling Tecfidera.
The settlement entails the payment of $1.25 billion in cash by Biogen to Forward. It may also be required to pay royalties in certain cases for an irrevocable co-exclusive license to all Forward intellectual property in the U.S. The license may be converted to exclusive subject to conditions.

CytRx Inc. ($CYTR) stock is on the move this year as it scored nearly 29% gain this year so far. Its growth rate in the past five trading session stood at impressive 20%. The company recently announced that it has been granted an approval from the US Food and Drug Administration for a Type B pre-NDA meeting.
During the meeting, the company will seek input on its planned New Drug Application (NDA) for aldoxorubicin as a new second-line treatment for patients with soft tissue sarcomas (STS). CytRx plans to file the NDA for the drug during the last quarter of this year. Subject to the approval, the company will start marketing the product in 2018.

 

• DexCom ($DXCM) received approval from the U.S. Centers for Medicare and Medicaid Services for establishing reimbursement for the company’s G5 Continuous Glucose Monitoring System by classifying it as Durable Medical Equipment.
• BioLineRx ($BLRX) announced initiating a second Phase 2a trial investigating BL-8040, in combination with Merck's ($MRK) KEYTRUDA (pembrolizumab), in patients with metastatic pancreatic cancer.

• AstraZeneca ($AZN) announced that it has refined the endpoints for its Phase 3 clinical trial, MYSTIC, assessing durvalumab and tremelimumab for first-line treatment of patients with non-small cell lung cancer.
• Pluristem Therapeutics ($PSTI) has been cleared by the German health regulator for commencing enrollment in a Phase 3 study assessing PLX-PAD cells to treat Critical Limb Ischemia.

 

• UnitedHealth Group ($UNH) announced its fourth quarter revenue at $47.52 billion, up 9 percent. Its premiums for the year stood at $36.74 billion, up 15.8 percent.

• Clovis Oncology ($CLVS) received overweight rating from Morgan Stanley. The price target for the stock has been set at $68 apiece.
• Civitas ($CIVI) received a Buy rating from Canaccord Genuity. The price target for the stock has been set at $26 apiece.

Gainers (% price change) Last Trade Change Mkt Cap
DexCom, Inc.
DXCM (NASDAQ)
85.13 +17.52 (25.91%) 7.05B
Sangamo Therapeutics Inc
SGMO (NASDAQ)
4.40 +0.45 (11.39%) 336.29M
Array Biopharma Inc
ARRY (NASDAQ)
10.87 +0.76 (7.52%) 1.97B
Amicus Therapeutics, Inc.
FOLD (NASDAQ)
5.95 +0.36 (6.44%) 843.82M
Cardiovascular Systems
CSII (NASDAQ)
26.42 +1.53 (6.13%) 896.42M
Losers (% price change)
Zogenix, Inc.
ZGNX (NASDAQ)
10.35 -1.15 (-10.00%) 249.01M
Antares Pharma Inc
ATRS (NASDAQ)
2.09 -0.11 (-5.00%) 312.76M
Kindred Healthcare, Inc.
KND (NYSE)
7.65 -0.20 (-2.55%) 651.48M
Rockwell Medical Inc
RMTI (NASDAQ)
6.07 -0.15 (-2.41%) 303.50M
Valeant Pharmaceuticals
VRX (NYSE)
15.33 -0.30 (-1.92%) 5.33B
Most Actives (dollar volume)
DexCom, Inc.
DXCM (NASDAQ)
85.13 +17.52 (25.91%) 7.05B
Pfizer Inc.
PFE (NYSE)
32.52 -0.08 (-0.25%) 195.96B
Merck & Co., Inc.
MRK (NYSE)
62.34 +0.13 (0.21%) 173.50B
Gilead Sciences, Inc.
GILD (NASDAQ)
73.07 -0.29 (-0.40%) 95.73B
Johnson & Johnson
JNJ (NYSE)
114.60 -0.02 (-0.02%) 311.47B