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Portola Pharmaceuticals ($PTLA) announced that it has entered into an agreement with Pfizer ($PFE) and Bristol-Myers Squibb ($BMY) for an unsecured $50 million. The funds will be used for carrying out the development actions for Factor Xa antidote AndexXa (andexanet alfa). Each company will contribute $25 million each.
Portola will have the responsibility of returning principal and interest out of the royalties received from AndexXa commercial sales. The company is planning to resubmit its US marketing application in 2017. Its marketing application in Europe is under review. The company stock jumped to $21.20 in Monday trading session, before closing at $20.24, up 7.55%.

Juno Therapeutics ($JUNO) received a positive judgement from the US Patent & Trademark Office (USPTO) regarding its US Patent No. 7,446,190. The case was filed by Kite Pharmaceuticals which seek to invalidate the patent. It has challenged all of the company’s claims to the patent. The patent is titled “Nucleic Acids Encoding Chimeric T Cell Receptors.” It is exclusively licenses by Juno from Sloan Kettering Institute for Cancer Research, an affiliate of Memorial Sloan Kettering Cancer Center.
USPTO issued its final written decision on December 16, 2016, which upheld all the claims of the patent. Juno Therapeutics focuses on developing treatments related to the body’s immune system.

 

• Egalet ($EGLT) announced positive results from a Category 3 intranasal human abuse potential (HAP) study of Egalet-002, its abuse-deterrent extended-release oxycodone. The study showed a significant decrease in drug liking compared to crushed immediate-release oxycodone.
• Opthotech ($OPHT) reported that it is looking to retrench 125 to 135 employees from its workforce, pursuant to its Fovista failure. The company plans to carry out the cuts by second quarter of 2017. It will also design severance program for the retrenched employees.

• Roche ($RHHBY) announced that The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion recommending approval for its Alecensa (alectinib). The drug is designed for the treatment of patients with ALK-positive non-small cell lung cancer (NSCLC) whose disease has progressed following treatment with crizotinib.
• Janssen Biotech ($JNJ) submits a Supplemental Biologics License Application (sBLA) to the FDA seeking approval for the use of STELARA (ustekinumab) for treating adolescents (ages 12 - 17) with moderate-to-severe plaque psoriasis. STELARA is currently approved only for adults.

 
• Brainstorm Therapeutics ($BCLI) announced that it has reached general agreement with the FDA on the key elements of a Phase 3 study assessing NurOwn in patients with amyotrophic lateral sclerosis (ALS).
• Threshold Pharmaceuticals ($THLD) announced that it will collaborate with the National Cancer Institute (NCI) to study the effects of TH-3424 on T-cell acute lymphoblastic leukemia xenograft cell lines with high ADR1C3 expression.

 
• Patheon ($PTHN) announces its fourth quarter earnings per share at $0.30, missing the forecast by $0.09 per share. Its revenue at $510.2 million, surpassed the estimates by $12.45 million.

• Regeneron Pharmaceuticals ($REGN) received rating upgrade from BTIG Research from Neutral to Buy. The price target for the stock has been set at $460.
• Cidara Therapeutics ($CDTX) received initial rating of Buy from H.C. Wainwright. The price target for the stock has been set at $25.

Gainers (% price change) Last Trade Change Mkt Cap
BioCryst Pharmaceuticals
BCRX (NASDAQ)
6.85 +0.66 (10.66%) 561.48M
Clovis Oncology Inc
CLVS (NASDAQ)
40.48 +3.28 (8.82%) 1.58B
CyberOptics Corporation
CYBE (NASDAQ)
26.65 +1.80 (7.24%) 179.80M
Sucampo Pharmaceuticals
SCMP (NASDAQ)
16.70 +0.95 (6.03%) 782.88M
Insys Therapeutics Inc
INSY (NASDAQ)
9.46 +0.37 (4.07%) 671.56M
Losers (% price change)
Acorda Therapeutics Inc
ACOR (NASDAQ)
18.70 -1.40 (-6.97%) 809.95M
Cynosure, Inc.
CYNO (NASDAQ)
42.70 -3.05 (-6.67%) 972.01M
Sangamo Biosciences, Inc.
SGMO (NASDAQ)
3.45 -0.20 (-5.48%) 261.57M
Emergent Biosolutions Inc
EBS (NYSE)
34.12 -1.83 (-5.09%) 1.38B
Alexion Pharmaceuticals
ALXN (NASDAQ)
114.56 -5.48 (-4.57%) 26.43B
Most Actives (dollar volume)
UnitedHealth Group Inc
UNH (NYSE)
161.54 -2.37 (-1.45%) 156.93B
Pfizer Inc.
PFE (NYSE)
32.83 -0.01 (-0.03%) 199.77B
Merck & Co., Inc.
MRK (NYSE)
61.14 -1.30 (-2.08%) 168.76B
Biogen Inc
BIIB (NASDAQ)
278.77 -7.63 (-2.66%) 60.53B
Johnson & Johnson
JNJ (NYSE)
116.02 +0.14 (0.12%) 315.61B