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ACADIA Pharmaceuticals (ACAD) announced the appointment of Todd Young as EVP, CFO, effective August 22. Young comes to ACAD after spending more than a decade at Baxalta. Baxalta was recently acquired Shire Plc (SHPG). Considering that Young was in a senior finance position at Baxalta when the company was acquired by SHPG indicates that he has deal making experience. Therefore his appointment at ACAD, at a time when the company is seen as a takeover target, is interesting.

Inotek Completes Enrollment in Late-Stage Study- Inotek Pharmaceuticals (ITEK) announced that it has completed enrollment of 335 subjects in its Phase 3 clinical trial, MATrX-1, evaluating  lead product candidate trabodenoson for the treatment of glaucoma. The primary endpoint is the reduction in intraocular pressure (IOP) over three months of treatment versus placebo. Top-line results from the study are expected to be announced in December.

Insys Announces Positive Results from Late-Stage Study of Buprenorphine Sublingual Spray- Insys Therapeutics (INSY) announced that its Phase 3 study evaluating Buprenorphine Sublingual Spray for the treatment of moderate-to-severe postoperative pain in patients undergoing bunionectomy, a procedure that requires an incision on the top or side of the big toe joint, succeeded. The primary endpoint was the summed pain intensity difference over 48 hours. The three dosages of Buprenorphine evaluated (0.5 mg 3x/day, 0.25 mg 3x/day, 0.125 mg 3x/day) were all statistically significantly better than placebo with the highest dose showing the largest reduction (expected for a pain medication).

Nymox Soars on Positive Results- Nymox Pharmaceuticals (NYMX) shares soared more than 80% after the company announced positive results from a long-term Phase 3 study assessing lead drug fexapotide in men with benign prostate hyperplasia (BPH) (enlarged prostate). The new data applies to the blinded crossover group who initially received placebo injections and then transitioned to either fexapotide or conventional BPH treatments. The aim of the study was to compare the rates of subsequent surgeries in the groups.The results showed that patients who crossed over to fexapotide experienced an 82 - 95% reduction in the number of surgeries during the following 2 - 3 years compared to those who crossed over and received conventional approved BPH therapies (p<0.0001).

The FDA has approved a label expansion for Supernus Pharmaceuticals (SUPN) Trokendi XR to include prophylaxis of migraine headache in adults. The approval is tentative because of pediatric exclusivity which will expire on March 28, 2017.

Teva Pharmaceutical Industries (TEVA) announced that the USPTO’s Patent Trial and Appeal Board (PTAB) invalidated two patents covering its op selling MS drug Copaxone (glatiramer acetate injection). The Board is reviewing a total of three patents being challenged by generic drug makers. A decision on the third is due today.

AstraZeneca (AZN) has agreed to sell its small-molecule antibiotics operations to Pfizer (PFE) in a transaction that could eventually be worth $1.575B. The deal will allow AstraZeneca to focus on three main therapy areas and realize value "from the strong portfolio of established and late-stage small molecule antibiotics.” According to the terms of the agreement, Pfizer will pay $550 million in upfront payment plus $175 million in January 2019 and as much as $850 million in milestones and sales-based payments.

Mallinckrodt (MNK) has signed a deal to sell its Nuclear Imaging business to IBA Molecular for $890 million, consisting of an upfront payment of $574 million, contingencies of $77 million and the assumption of $39 million in long-term obligations. The transaction, expected to close in H1, 2017, includes 800 employees and two manufacturing facilities in Missouri and the Netherl

Provectus Biopharmaceuticals (PVCT) has commenced a public offering of Series B Convertible Preferred Stock and warrants to purchase common stock. The offering is "best efforts" which means the underwriter will do its best to sell the shares, considering their high risk. The company is yet to announce the price, volume and terms of the offering.

No IPOs to report.

No earnings to report.

Company (Ticker) Brokerage Action Recommendation Price Target My Price Target
Aimmune Therapeutics (AIMT) Wedbush Reiterate Buy

$42

N/A
Clovis Oncology (CLVS) SunTrust Banks Price Target Raised Buy From $25 to $30 N/A
Clovis Oncology (CLVS) Mizuho Price Target Raised Neutral From $15 to $23 N/A
Clovis Oncology (CLVS) Credit Suisse Group Price Target Raised Neutral From $14 to $19 N/A
Gilead Sciences (GILD) Leerink Swann Price Target Cut Outperform From $114 to $112

$130

Idera Pharmaceuticals (IDRA) Wedbush Reiterate Outperform

$6

N/A
Mylan (MYL) Bank of America Reiterate Buy

$70

N/A
TG Therapeutics (TGTX) S&P Equity Research Price Target Cut N/A From $7.15 to $6.40 N/A
Tokai Pharmaceuticals (TKAI) BMO Capital Markets Price Target Cut Market Perform From $1.70 to $1.15 N/A
Tonix Pharmaceuticals (TNXP) Cantor Fitzgerald Reiterate Buy

$5

N/A
TESARO (TSRO) RBC Capital Markets Reiterate Outperform

$122

N/A

Opko Health (OPK)- Dr. Phillip Frost, CEO & Chairman, bought 15,000 shares at $9.24. The total value of the transaction was $138,586. Dr. Frost now owns 160,063,143 shares of OPK.

MannKind (MNKD)- Michael Castagna, Chief Commercial Officer, bought 15,000 shares at $0.87. The total value of the transaction was $13,050. Castagna now owns 195,000 shares of MNKD.

Xencor (XNCR)- John R. Desjarlais, Sr. VP Research & CSO, sold 16,294 shares at $21.73. The total value of the transaction was $354,065. Desjarlais still owns 28,640 shares of XNCR.

Illumina (ILMN)- Robert S. Epstein, Director, sold 300 shares at $170.27. The total value of the transaction was $51,081. Epstein still owns 7,224 shares of ILMN.

Seattle Genetics (SGEN)- Eric Dobmeier, COO, sold 12,589 shares at $48. The total value of the transaction was $604,272. Dobmeier still owns 58,767 shares of SGEN.

Arrowhead Pharmaceuticals (ARWR)- Kenneth A. Myszkowski, CFO, sold 14,000 shares in two separate transactions. Myszkowski sold 13,100 shares at $8; and 6,900 shares at $8. Myszkowski still owns 115,689 shares of ARWR.

Amphastar Pharmaceuticals (AMPH)- Jason B. Shandell, President & General Counsel, sold 10,000 shares at $19.95. The total value of the transaction was $199,500. Shandell still owns 202,961 shares of AMPH.

Alexion Pharmaceuticals (ALXN)- Alvin S. Parven, Director, sold 15,700 shares in two separate transactions. Parven sold 15,000 shares at $136.53 and 700 shares at $135.51. Parven still owns 6,373 shares of ALXN.

No management changes and additions to report.

NYSE- Lannett Company (LCI) shares were among the major gainers on the NYSE. The stock closed 13.71% higher. Puma Biotechnology (PBYI) ended the day 2.21% higher. Intrexon (XON) shares were among the major losers on the NYSE. The stock closed 10.18% lower. InVitae (NVTA) ended the day 8.35% lower.

NASDAQ- Corium International (CORI) shares were among the major gainers on the NASDAQ. The stock closed 21.17% higher. Momenta Pharmaceuticals (MNTA) ended the day 11.33% higher. Aeglea BioTherapeutics (AGLE) ended the day 3.95% higher. Arrowhead Pharmaceuticals (ARWR) ended the day 14.73% lower. Intellia Therapeutics (NTLA) ended the day 13.95% lower. Syndax Pharmaceuticals (SNDX) ended the day 13.49% lower.

NYSEMKT- Asterias Biotherapeutics (AST) shares were among the major movers on the NYSEMKT. The stock closed 2.78% lower.

OTC- Amarantus Bioscience Holdings (AMBS) shares were among the major movers on the OTC market. The stock closed 12.28% lower.

Company (Ticker) Short Interest as a % of Float % Change Days to Cover
Spectrum Pharmaceuticals (SPPI)

10.9%

-15.2%

8

SteadyMed (STDY)

0.1%

-32.6%

0

Stellar Biotechnologies (SBOT)

0.4%

-11.9%

1

StemCells (STEM)

5.9%

-10.5%

3

StemLine Therapeutics (STML)

3.9%

-6.9%

10

Sucampo Pharmaceuticals (SCMP)

7.1%

4.6%

4

Sunesis Pharmaceuticals (SNSS)

0.4%

-18.2%

1

Supernus Pharmaceuticals (SUPN)

5.5%

-9.9%

5

Syndax Pharmaceuticals (SNDX)

4.9%

0.9%

7

Synergy Pharmaceuticals (SGYP)

13.8%

-1.3%

7