Relypsa (RLYP) shares had a decent run last week, gaining more than 6%. RLYP gained as the broader market rebounded. Despite the rebound though, RLYP has been struggling to breakthrough. While Veltassa uptake has been decent, short interest in RLYP remains high. I believe that RLYP is ripe for a short squeeze, especially if there is positive Veltassa prescription data in the coming weeks.

Regeneron Pharmaceuticals (REGN) and its partner Sanofi (SNY) announced that the Japanese Ministry of Health, Labour and Welfare approved their Praluent for the treatment of uncontrolled low-density lipoprotein (LDL) cholesterol in certain adult patients with hypercholesterolemia at high cardiovascular risk. Praluent has been approved shortly after Amgen’s (AMGN) Repatha was approved in Japan. Both drugs have already been approved in the U.S.

REGN shares have struggled this year, falling more than 34%. While the negative sentiment on the biotech sector has hurt REGN, the stock has also suffered because of patent issues related to Praluent. Earlier this year, I slashed my price target on REGN to $475. The price target still offers significant upside though from current levels.

Cytokinetics Initiates Mid-Stage Study for CK-2127107- Cytokinetics (CYTK) announced that it has initiated a Phase 2 clinical trial in 40 patients with chronic obstructive pulmonary disease (COPD). The Phase 2 trial will evaluate the effect of CK-2127107 (CK-107) on their physical function, specifically their tolerance for exercise compared to placebo. The study will also assess CK-107's cardiopulmonary and neuromuscular effects and resting spirometry. The primary endpoint is the change from baseline to day 14 in Constant Work Rate endurance time.

Pacira Terminates Distribution Agreement with CrossLink- Pacira Pharmaceuticals (PCRX) announced that it has terminated its distribution agreement with CrossLink BioScience, LLC for the promotion and sale of pain med EXPAREL (bupivacaine liposome injectable suspension) on September 30. The action will require Pacira to disgorge a $7.3M termination fee to CrossLink, payable quarterly over two years beginning in the fourth quarter. Pacira will account for the fee this quarter. It will be excluded from its previously announced non-GAAP SG&A guidance of $125M - 135M due to its non-recurring nature.

NeuroDerm Commences Enrollment in Mid-Stage Study of Parkinson’s Disease Candidate- NeuroDerm (NDRM) announced that it has commenced patient enrollment in the U.S. in its ongoing Phase 2 study, Trial 006, evaluating ND0612H in patients with advanced Parkinson's disease. The study will evaluate the efficacy, safety, tolerability and pharmacokinetics of two dosing regimens of ND0612H and comparing them to the baseline oral standard of care. It is expected to be completed in the second half of this year.

AbbVie (ABBV) announced that the FDA has approved its  HUMIRA (adalimumab) for the treatment of non-infectious intermediate, posterior and panuveitis, a group of inflammatory eye diseases and can impact vision. The expanded label, an Orphan Drug indication, marks the 10th approved use for HUMIRA in the U.S. for immune-mediated diseases.

Allergan’s (AGN) BELKYRA received a positive opinion from the Swedish Medical Products Agency for the use of the product to treat moderate-to-severe fullness associated with submental fat (double chin).

No patents to report.

AstraZeneca (AZN) announced that it has signed an agreement with privately held Danish drug firm LEO Pharma for a global licence to tralokinumab and European rights to brodalumab. According to the terms of agreement, LEO Pharma will make an upfront payment to AstraZeneca of $115M for the exclusive, global rights to tralokinumab for skin diseases. It will also pay AstraZeneca up to $1B in commercially-related milestones and royalties on product sales.

Aeterna Zentaris (AEZS) announced that it has signed a license agreement with Cyntec. Co. Ltd. for lead anti-cancer candidate Zoptrex (zoptarelin doxorubicin). The agreement covers Taiwan and nine countries in Southeast Asia. The initial indication will be endometrial cancer. According to the terms of the agreement, Aeterna Zentaris will receive an undisclosed upfront payment, milestones and royalties on net sales. Cyntec will be responsible for the development, registration, reimbursement and commercialization of Zoptrex in the territory.

BIND Therapeutics (BIND) filed a motion sell the majority of its assets into a stalking-horse bid from Pfizer. Pfizer has agreed to acquire substantially all the assets of the company for about $20 million in cash. PFE had presented the initial stalking-horse bid after BIND filed for Chapter 11 bankruptcy on May 1.

No secondary offerings to report.

No IPOs to report.

No earnings to report.

Company (Ticker) Brokerage Action Recommendation Price Target My Price Target
Aldeyra Therapeutics (ALDX) Stifel Nicolaus Initiation Buy

$16

N/A
Alnylam Pharmaceuticals (ALNY) Needham & Company Reiterate Buy N/A

$130

Conatus Pharmaceuticals (CNAT) Roth Capital Initiation Buy N/A N/A
Concert Pharmaceuticals (CNCE) Stifel Nicolaus Initiation Buy

$23

$25

CymaBay Therapeutics (CBAY) Roth Capital Initiation Buy N/A N/A
Flexion Therapeutics (FLXN) Janney Montgomery Scott Reiterate Buy

$30

N/A
Galectin Therapeutics (GALT) Roth Capital Initiation Buy N/A N/A
Galena Biopharma (GALE) S&P Equity Research Price Target Cut N/A From $0.61 to $0.50 N/A
Pacira Pharmaceuticals (PCRX) Brean Capital Downgrade From Buy to Hold N/A N/A
Pacira Pharmaceuticals (PCRX) Mizuho Reiterate Outperform

$64

N/A
Ziopharm Oncology (ZIOP) Griffin Securities Reiterate Buy N/A N/A

Nymox Pharmaceutical (NYMX)- James George Robinson, Director, bought 17,500 shares in three separate transactions. Robinson bought 7,000 shares at $3.42; 6,000 shares at $3.73; and 4,500 shares at $3.42. Robinson now owns 2,847,550 shares of NYMX.

Hemispherx BioPharma (HEB)- Thomas K. Equels, President & CEO, bought 171,000 shares in three separate transactions. Equels bought the shares at $0.12 per share. He now owns 1,655,548 shares of HEB.

TESARO (TSRO)- Jeffrey H. Hanke, Executive VP, R&D and CSO, sold 12,500 shares at $74.35. The total value of the transaction was $929,321. Hanke does not own any shares of TSRO.

Ophthotech (OPHT)- Samir Chandrakant Patel, President, sold 41,846 shares in two separate transactions. Patel sold 20,000 shares at $51.42; and 21,846 shares at $51.05. Patel still owns 191,531 shares of OPHT.

Oragenics (OGEN)- Koski Family, LP, a 10% owner, bought 5,815,080 shares of OGEN at $0.52. Koski Family now owns 12,864,822 shares of OGEN. Fred Telling, Director, bought 969,180 shares of OGEN at $0.52. Telling now owns 1,315,354 shares of OGEN.

Repligen (RGEN)- Thomas F. Ryan Jr., Director, sold 5,000 shares at $26.60. The total value of the transaction was $133,010. Ryan still owns 12,094 shares of RGEN.

United Therapeutics (UTHR)- Martine A. Rothblatt, Chairman & CEO, sold 1,308 shares of $105.10. The total value of the transaction was $137,470. Rothblatt still owns 240 shares of UTHR.

Merck & Co. (MRK)- Adam H. Schechter, EVP & President-Global Human Health, sold 50,000 shares at $57.69. Schechter does not own any shares of MRK. Weir Mirian Graddick, Exe-VP, HR, sold 30,000 shares at $57.49. Graddick still owns 132,151 shares of MRK.

No management changes and additions to report.

NYSE- Intrexon (XON) shares were among the major gainers on the NYSE. The stock closed 7.15% higher. Lannett Company (LCI) ended the day 4.83% higher.

NASDAQ- XBiotech (XBIT) shares were among the major gainers on the NASDAQ. The stock closed 19.02% higher. Dicerna Pharmaceuticals (DRNA) ended the day 18% higher. CoLucid Pharmaceuticals (CLCD) ended the day 17.75% higher. Vitae Pharmaceuticals (VTAE) shares were among the major losers on the NASDAQ. The stock closed 4.63% lower. Vascular Biogenics (VBLT) ended the day 4.56% lower. Proteostasis Therapeutics (PTI) ended the day 3.63% lower.

NYSEMKT- Actinium Pharmaceuticals (ATNM) shares were among the major gainers on the NYSEMKT. The stock closed 3.52% higher.

OTC- Cellceutix (CTIX) shares were among the major movers on the OTC market. The stock closed 1.01% lower.

Company (Ticker) Short Interest as a % of Float % Change Days to Cover
AMAG Pharnaceuticals (AMAG)

21.1%

-3.1%

8

Amgen (AMGN)

1%

-1.5%

3

Amicus Therapeutics (FOLD)

17.5%

2.2%

8

Amphastar Pharmaceuticals (AMPH)

5.8%

-15.3%

6

Anacor Pharmaceuticals (ANAC)

13.1%

16.3%

2

Anavex Life Sciences (AVXL)

9.5%

-14.3%

9

ANI Pharmaceuticals (ANIP)

14.4%

7.5%

6

Anika Therapeutics (ANIK)

11.2%

-4.8%

14

Antares Pharma (ATRS)

6.6%

4.5%

13

Anthera Pharmaceuticals (ANTH)

13.5%

-1%

9