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Bristol Myers Squibb ($BMY) announced its new collaboration with Nordic Biosciences, which is a Danish company specializing in biomarker technologies. The collaboration will work towards developing biomarker technology for diagnosing and monitoring fibrotic diseases including non-alcoholic steatohepatitis (NASH). The agreement provides for the development of translational biomarkers and diagnostics of NASH in preclinical models of fibrotic diseases and in clinical settings.
The financial terms of the deal have not been disclosed. Bristol Myers Squibb stock has lost over 22 percent in the past 12 months while its Year to Date loss stands at close to 10 percent.

Cleveland BioLabs Inc. ($CBLI) stock shot up as the company announced that the European Medicines Agency (EMA) has accepted its pediatric investigation plan (PIP) related to radiation countermeasure entolimod. The company may now proceed to file its Marketing Authorization Application for seeking approval to sell the product in the EU.
The stock jumped over 46 percent in its pre-market session, trimming its 12 months losses to 33 percent. The stock has gained close to 10 percent this year so far. The company says its existing data, combined with future nonclinical cell culture experiments and formulation, should be sufficient to support pediatric labeling. Entolimod is a recombinant protein that acts as an agonist of toll-like receptor 5.

 

Roche ($RHHBY) announced interim data from the Phase 3 HAVEN 2 study assessing emicizumab for reducing bleeding episodes in children younger than 12 years of age with hemophilia A. The study showed a clinically meaningful treatment effect, which was consistent with the first Phase 3 HAVEN1. The prophylactic administration with emicizumab produced a statistically significant reduction in bleeds over time compared to no prophylaxis.

Eli Lilly ($LLY) reported receiving a Complete Response Letter (CRL) from the FDA regarding its New Drug Application (NDA) seeking approval of JAK inhibitor baricitinib for the treatment of moderate-to-severe rheumatoid arthritis. The letter pointed the need for more clinical data to support the optimum doses and additional data to further characterize the safety profile across treatment arms.

 

Lexaria Bioscience ($LXRP) announced that it has entered into a joint venture with Neutrisci International for producing and commercializing edible cannabinoid mouth-melt products using its lipid delivery technology. The products will also use Neutrisci’s pterostilbene tablet form factor. The companies plans to secure licenses in California, Colorado and Canada to manufacture and sell mouth-melt products containing THC.

Abbott Laboratories ($ABT) announced that it has agreed to acquire Alere ($ALR) with modified terms and conditions. The new pricing for the company is at $51 per share, down from $56 per share ,announced in February, 2016. The new deal is expected to be worth $5.3 billion. The companies also agreed to dismiss their respective lawsuits.

Brokerage
Action
Company
Rating
Price Target
Impact on Share Price
Chardan Capital
Lowers Target
Akari Therapeutics PLC (AKTX)
Sell
$6.50 -> $5.00
High
BMO Capital Markets
Initiates
Alnylam Pharmaceuticals (ALNY)
Outperform
$73.00
Low
Ladenburg Thalmann Financial Services
Initiates
Bellerophon Therapeutics (BLPH)
Buy

Medium
Maxim Group
Reiterates
CASI Pharmaceuticals (CASI)
Buy
$4.00
Low
HC Wainwright
Reiterates
Cidara Therapeutics (CDTX)
Buy
$18.00 -> $14.00
Low
BMO Capital Markets
Initiates
Halozyme Therapeutics (HALO)
Market Perform
$14.00
Low
Piper Jaffray Companies
Reiterates
Incyte (INCY)
Overweight -> Neutral
$124.00
N/A
Royal Bank of Canada
Raises Target
Intuitive Surgical (ISRG)
Sector Perform
$720.00 -> $770.00
Low
BMO Capital Markets
Downgrades
Eli Lilly and Co (LLY)
Market Perform -> Underperform

High
Morgan Stanley
Downgrades
Eli Lilly and Co (LLY)
Overweight -> Equal Weight

Low

Gainers (% price change)Last TradeChangeMkt CapChina Cord Blood CorpCO8.01+1.05 (15.09%)673.22MImmunoGen, Inc.IMGN3.24+0.28 (9.46%)309.80MClovis Oncology IncCLVS56.17+2.43 (4.52%)2.62BAcelRx PharmaceuticalsACRX2.75+0.10 (3.77%)129.38MSpectrum PharmaceuticalsSPPI6.32+0.21 (3.44%)524.63MLosers (% price change)Trinity Biotech plc (ADR)TRIB5.62-0.28 (-4.75%)128.26MFluidigm CorporationFLDM4.62-0.18 (-3.75%)129.88MOmeros CorporationOMER15.42-0.54 (-3.38%)652.87MAccuray IncorporatedARAY4.60-0.15 (-3.16%)369.29MAccelerate DiagnosticsAXDX23.05-0.75 (-3.15%)1.16BMost Actives (dollar volume)Johnson & JohnsonJNJ124.99-0.37 (-0.30%)337.73BPfizer Inc.PFE33.88-0.04 (-0.12%)201.52BAmgen, Inc.AMGN161.61-1.44 (-0.88%)117.88BGilead Sciences, Inc.GILD66.51+0.29 (0.44%)87.33BBristol-Myers Squibb CoBMY52.83-0.16 (-0.30%)87.04B