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Endocyte ($ECYT) reported that it will present updated data on its lead drug candidates EC1456 and EC1169. For EC1456, the results pertain to a  a two-part Phase 1 study, EC1456-01.Part A (dose escalation phase) involves 87 patients with advanced solid tumors while Part B (expansion phase) six patients with FR-positive non-small lung cancer as of the May 18 cutoff. For EC1169, the data pertains to a two-part Phase 1   in patients with metastatic castration-resistant prostate cancer. 
The stock received a positive fillip from the news as it gained close to 16 percent in after hour trading on Friday. Endocyte stock has lost more than its 35 percent value in the past 12 months while its Year to Date gain stands at 3 percent.

Kite Pharma ($KITE) reported that its Biologics License Application seeking approval of lead CAR-T candidate axicabtagene ciloleucel (formerly KTE-C19) for the treatment on non-Hodgkin lymphoma has been designated for Priority Review by the FDA. The agency’s action date is November 29. The application has been supported by the data collected from the Phase 2 ZUMA-1 study which showed an 82% response rate. The study has also shown  a 39% ongoing complete response rate and favorable safety profile.
The company stock has performed well in the recent past as it gained 52 percent in the past 12 months. The stock price is up 63 percent on the Year to Date basis.

 

Celsion ($CLSN) announced carrying out a 1:14 reverse split of its common shares. The main aim of the split is to increase the demand for its stock. Celsion scrip will comment its post-split trading on Tuesday, May 30.

Diffusion Pharmaceuticals ($DFFN) has been notified by NASDAQ that it no longer meets listing requirements for minimum market value and minimum stockholders' equity. The company has 180 days to comply with the requirements or else face possible delisting.

Merck ($MRK) received approval from Democratic Republic of Congo's health ministry for the use of a new Ebola vaccine to counter an outbreak of the hemorrhagic fever. The vaccine is known as rVSV-ZEBOV and has been developed by Merck. The drug is not licensed but showed high protection against Ebola in clinical trials published last December.
Novartis ($NVS) has received the FDA approval for its Zykadia for the first-line treatment of patients with metastatic ALK-positive non-small cell lung cancer. The drug already has Breakthrough Therapy status in the US for first-line ALK+ NSCLC with metastases to the brain.

 

Amedica ($AMDA) announced that it will be  unable to file its 10-Q for the quarter ended March 31 within the five-day extension period afforded by Nasdaq. The company said that it requires additional time to fully ascertain whether there is an impairment of certain long-term assets related to its audit of 2016 results which has delayed the filing of its 10-K. The company has also been notified by the NASDAQ that it is no longer compliant with its listing rule on filings.

Cannabis Sciences ($CBIS) announced that it has received a  Commercial and Government Entity (CAGE) Code from an office of the Department of Defense, making it eligible to receive contracts from the U.S. Government. The company also said that it will explore funding opportunities with federal institutions including NIH and its department the National Institute on Drug Abuse.

 

Bio Blast Pharma ($ORPN) reported its first quarter net loss at $2.7 million. On per share basis, the net loss stood at $0.16. Its research and development xpenses were $1.1 million for the quarter ended March 31, 2017, compared to $1.9 million for the same period in 2016. Cash, cash equivalents and short-term bank deposits as of March 31, 2017, were $7.1 million, compared to $9.9 million as of December 31, 2016.

Brokerage
Action
Company
Rating
Price Target
Impact on Share Price
Mizuho
Lowers Target
AAC Holdings (AAC)
Neutral
$9.00 -> $6.00
Low
Mizuho
Raises Target
AmerisourceBergen Corp. (ABC)
Neutral
$83.00 -> $93.00
Low
Chardan Capital
Initiates
Assembly Biosciences (ASMB)
Buy
$35.00
Low
HC Wainwright
Reiterates
DelMar Pharmaceuticals (DMPI)
Buy
$12.00
Low
Mizuho
Lowers Target
Envision Healthcare (EVHC)
Neutral
$70.00 -> $60.00
Low
Canaccord Genuity
Downgrades
Intuitive Surgical (ISRG)
Hold

Low
Jefferies Group LLC
Reiterates
Eli Lilly and Co (LLY)
Buy

Low
Mizuho
Raises Target
McKesson (MCK)
Neutral
$147.00 -> $168.00
Low
Mizuho
Lowers Target
MEDNAX (MD)
Neutral
$64.00 -> $58.00
Low

Gainers (% price change)
Last Trade
Change
Mkt Cap
Cerus Corporation
CERS
2.35
+0.33 (16.34%)
284.16M
BioDelivery Sciences Intl
BDSI
2.40
+0.20 (9.09%)
144.85M
China Cord Blood Corp
CO
9.09
+0.63 (7.45%)
1.18B
Emergent Biosolutions Inc
EBS
32.11
+1.89 (6.25%)
1.40B
Corcept Therapeutics Inc.
CORT
12.29
+0.63 (5.40%)
1.47B
Losers (% price change)

BioCryst Pharmaceuticals
BCRX
5.77
-0.96 (-14.26%)
397.84M
Geron Corporation
GERN
2.77
-0.24 (-7.97%)
405.76M
Sangamo Therapeutics Inc
SGMO
7.25
-0.55 (-7.05%)
484.78M
ImmunoGen, Inc.
IMGN
4.72
-0.35 (-6.90%)
392.61M
Insmed Incorporated
INSM
16.07
-1.07 (-6.24%)
935.50M
Most Actives (dollar volume)

Alexion Pharmaceuticals
ALXN
97.70
-0.80 (-0.81%)
21.76B
Johnson & Johnson
JNJ
126.92
-0.61 (-0.48%)
340.27B
Amgen, Inc.
AMGN
155.01
-0.42 (-0.27%)
113.69B
Humana Inc
HUM
232.25
+0.20 (0.09%)
33.52B
Abbott Laboratories
ABT
44.71
+0.77 (1.75%)
78.93B