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Keryx Biopharmaceuticals (KERX) shares plunged more than 35% on Monday after the company announced that an interruption n the supply of Auryxia (ferric citrate) tablets is imminent due to a production-related issue converting active pharmaceutical ingredient to finished drug product. KERX expects to restore adequate supply of Auryxia and to make Auryxia available to patients during the fourth quarter of 2016. However, the supply issues will have an impact on KERX’s top-line. Not surprisingly, KERX has withdrawn its 2016 financial guidance due to the development.

KERX also reported its financial results for the second quarter. The company posted a loss of $0.42 per share in the quarter. Revenue for the quarter was $9.29 million, up 270% on a year-over-year basis. Revenue was above consensus forecast.

Ionis Surges as Nusinersen Meets Primary Endpoint- Ionis Pharmaceuticals (IONS) shares surged more than 30% on Monday after the company announced that nusinersen, an investigational treatment for spinal muscular atrophy, met the primary endpoint pre-specified for the interim analysis of ENDEAR. The analysis concluded that infants receiving nusinersen experienced a statistically significant improvement in certain motor functions. Following the positive results, Biogen has exercised its option to develop and commercialize nusinersen globally and paid Ionis a $75M license fee.

Heron Therapeutics Reports Positive Top-Line Data for HTX-011- Heron Therapeutics (HRTX) announced preliminary, positive, top-line efficacy results from two Phase 2 clinical studies of HTX-011, its lead product candidate for the management of post-operative pain in patients undergoing bunionectomy and inguinal hernia repair. The news initially pushed HRTX shares sharply higher. However, the stock gave up most of its gains by the end of the day, closing around 1.7% higher.

Cesca Rallies on Regulatory Update- Cesca Therapeutics (KOOL) shares closed nearly 7% higher on Monday after the company provided an update on the status of the FDA's review of its Investigational Device Exemption Supplement for a phase III pivotal trial, designed to demonstrate the safety and effectiveness of the company's SurgWerks system for the treatment of late stage, no option, critical limb ischemia patients. KOOL said that in addition to a number of protocol changes intended to improve patient enrollment and study flow, the IDE Supplement, submitted at the end of May, proposed a change in the primary efficacy endpoint from Amputation Free Survival (AFS) to Change in Transcutaneous Oxygen Pressure (TcPO2).

No approvals to report.

No patents to report.

Pfizer (PFE) announced that it has  acquired Bamboo Therapeutics, a privately held biotech company focused on developing gene therapies for the potential treatment of patients with certain rare neuromuscular and nervous system diseases. The acquisition significantly expands Pfizer's expertise in gene therapy by providing it with a clinical and several pre-clinical assets that complement the company's rare disease portfolio.

BioLineRx (BLRX) announced that it has signed an exclusive worldwide agreement with Hadasit, the Technology Transfer Company of Hadassah Medical Organization, for the in-licensing of a drug candidate for the treatment of liver fibrosis, and in particular, non-alcoholic steatohepatitis (NASH). This drug candidate, to be called BL-1210, is the first project to be in-licensed under the framework of the Company’s strategic collaboration with Novartis Pharma AG for the screening and development of novel drug candidates.

No secondary offerings to report.

Protagonist Therapeutics announced the terms for its $70 million IPO. The company is offering 5.8 million shares at a price range of $11 per share to $13 per share. Based in Milpitas, California, Protagonist Therapeutics is developing peptide-based oral drugs for gastrointestinal diseases. The company will list its shares on the NASDAQ under the ticker symbol PTGX.

MorphoSys (MOR) reported a loss of euro 0.72 per share in its second quarter. The company reported revenue of euro 24.3 million, down 70.6% on a year-over-year basis.

Threshold Pharmaceuticals (THLD) reported a loss of $0.10 per share in its second quarter, in-line with the consensus forecast.

T2 Biosystems (TTOO) reported a loss of $0.58 per share in its second quarter, missing consensus forecast by 2 cents. The company reported revenue of $0.99 million, up 76.8% on a year-over-year basis. Revenue missed consensus forecast by $0.54 million.

Durect (DRRX) reported a loss of $0.07 in its second quarter, missing consensus forecast by a penny. The company’s revenue for the quarter was $3.2 million, down 27.9% on a year-over-year basis. Revenue missed consensus forecast by $0.49 million.

CEMPRA (CEMP) reported a loss of $0.51 per share in its second quarter, beating consensus forecast by 16 cents. The company’s revenue for the quarter was $3.4 million, down 32.7% on a year-over-year basis. Revenue missed consensus forecast by $0.49 million.

Nivalis Therapeutics (NVLS) reported a loss of $0.55 per share in its second quarter, missing consensus forecast by 3 cents. The company ended the quarter with $74 million in cash and marketable securities.

Company (Ticker) Brokerage Action Recommendation Price Target My Price Target
AcelRx Pharmaceuticals (ACRX) HC Wainwright Reiterate Buy N/A N/A
Alcobra (ADHD) Barclays PLC Initiation Equal Weight

$8

N/A
Adma Biologics (ADMA) Maxim Group Downgrade From Buy to Hold N/A N/A
Adma Biologics (ADMA) Raymond James Financial Downgrade From Strong Buy to Market Perform N/A N/A
Biogen (BIIB) Leerink Swann Price Target Raised N/A

$367

$420

Biogen (BIIB) Robert W. Baird Reiterate Positive

$284

$420

Biogen (BIIB) BMO Capital Markets Price Target Raised N/A

$304

N/A
Celgene Corp. (CELG) Leerink Swann Price Target Raised Market Perform From $125 to $135

$140

Exact Sciences (EXAS) Roth Capital Price Target Raised Hold From $11 to $15 N/A
Gilead Sciences (GILD) Jefferies Group Reiterate Hold

$93

$130

Galmed Pharmaceuticals (GLMD) Maxim Group Price Target Cut Buy From $24 to $9

$20

Horizon Pharma (HZNP) Guggenheim Reiterate Buy

$30

N/A
Incyte (INCY) Piper Jaffray Price Target Raised Buy From $76 to $102 N/A
Ionis Pharmaceuticals (IONS) BMO Capital Markets Price Target Raised N/A

$40

N/A
Ionis Pharmaceuticals (IONS) Needham & Company LLC Price Target Raised Buy From $55 to $64 N/A
Kadmon Holdings LLC (KDMN) WBB Securities Initiation Sell

$7.50

N/A
Keryx Biopharmaceuticals (KERX) Maxim Group Downgrade From Buy to Hold N/A

$25

Cesca Therapeutics (KOOL) Maxim Group Reiterate Hold N/A N/A
Seres Therapeutics (MCRB) Bank of America Downgrade From Buy to Neutral N/A N/A
Seres Therapeutics (MCRB) Canaccord Genuity Reiterate Buy

$20

N/A
Seres Therapeutics (MCRB) Leerink Swann Price Target Cut Outperform From $43 to $12 N/A
Mast Therapeutics (MSTX) Roth Capital Reiterate Buy

$2

N/A
Nivalis Therapeutics (NVLS) Cowen and Company Reiterate Buy N/A N/A
Pfizer (PFE) Jefferies Group Reiterate Buy N/A N/A
Qiagen (QGEN) Mizuho Price Target Raised Neutral From $22 to $25 N/A
Qiagen (QGEN) HSBC Upgrade From Hold to Buy N/A N/A
Ultragenyx Pharmaceuticals (RARE) Jefferies Group Price Target Set Buy

$109

N/A
Rigel Pharmaceuticals (RIGL) BMO Capital Markets Initiation Outperform

$4

N/A
Stellar Biotechnologies (SBOT) Maxim Group Price Target Raised Buy From $7 to $17 N/A
Sucampo Pharmaceuticals (SCMP) Maxim Group Price Target Cut Buy From $26 to $17 N/A
Teva Pharmaceutical Industries (TEVA) Credit Suisse Group Reiterate Neutral N/A N/A
Valeant Pharmaceuticals International (VRX) Canaccord Genuity Reiterate Hold

$28

N/A
Valeant Pharmaceuticals International (VRX) Wells Fargo & Co. Reiterate Underperform

$19.50

N/A

No insider buys to report.

No insider sells to report.

No management changes and additions to report.

NYSE- Intrexon (XON) shares were among the major gainers on the NYSE. The stock closed 8.09% higher. Kadmon Holdings (KDMN) ended the day 6.93% higher. Valeant Pharmaceuticals International (VRX) shares were among the major losers on the NYSE. The stock closed 6.32% lower.

NASDAQ- Ionis Pharmaceuticals (IONS) shares were among the major gainers on the NASDAQ. The stock closed 30.22% higher. T2 Biosystems (TTOO) ended the day 24.38% higher. Array Biopharma (ARRY) ended the day 12.83% higher. Inotek Pharmaceuticals (ITEK) shares were among the major losers on the NASDAQ. The stock closed 29.43% lower. Aptevo Therapeutics (APVO) ended the day 22.10% lower. Seres Therapeutics (MCRB) ended the day 11.06% lower.

NYSEMKT- Actinium Pharmaceuticals (ATNM) shares were among the major movers on the NYSEMKT. The stock closed 3.41% lower.

OTC- Soligenix (SNGX) shares were among the major movers on the OTC market. The stock closed 2.37% lower.

Company (Ticker) Short Interest as a % of Float % Change Days to Cover
Genocea Biosciences (GNCA)

18.4%

-13.2%

9

Geron Corporation (GERN)

17.7%

-1.9%

21

Gilead Sciences (GILD)

1.6%

-3.6%

3

Global Blood Therapeutics (GBT)

18.6%

-36.5%

9

GlobeImmune (GBIM) -

-55.7%

0

GW Pharmaceuticals (GWPH) -

-3.8%

4

Hemispherx Biopharma (HEB)

0.3%

-11.4%

1

Halozyme Therapeutics (HALO)

19.1%

0.4%

16

Heat Biologics (HTBX)

4.4%

-4.2%

5

Heron Therapeutics (HRTX)

24.3%

-1.3%

18