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Sangamo Therapeutics Inc. ($SGMO) reported that the FDA has granted orphan drug status to its SB-525 cDNA gene therapy for Hemophilia A. The company also has  fast track designation for SB-FIX in vivo genome editing treatment for Hemophilia B while SB-913 has Rare Pediatric Disease designation for vivo genome editing treatment for Mucopolysaccharidosis Type II (MPS II).
Dr. Sandy Macrae, CEO of Sangamo said, “Our four early clinical programs are focused on rare diseases for which new treatments are sorely needed, and we are gratified to work closely with the FDA as we advance these novel genomic therapies in human studies.” The company stock jumped 10 percent in the pre-market trading session. It has gained over 47 percent this year so far.

Karyopharm Therapeutics ($KPTI) announced that it has inked an exclusive license agreement with Anivive Lifesciences. The deal pertains to Anivive licensing from Karyopharm exclusive worldwide rights to research, develop and commercialize verdinexor (KPT-335) for the treatment of cancer in companion animals. The deal allows for Anivive to make a one-time upfront payment of $1 million to Karyopharm.  Karyopharm is eligible to receive up to $43.5 million dollar payments from future regulatory, clinical and commercial milestones, assuming approval in both the United States and the European Union.  
Karyopharm Therapeutics is also entitled to receive up to low double-digit royalty payments based on future net sales of verdinexor.

 

Aetna ($AET) announced that it will not sell Obamacare individual insurance plans in Virginia next year. The company has cited ‘growing uncertainty" in the market as the reason behind the decision. Aetna had earlier announced leaving Iowa last month.
Conatus Pharmaceuticals ($CNAT) announced that  Novartis exercised a license for the development and commercialization of Emricasan. The company now expects to have enough financial resources to maintain operations and ongoing clinical development activities through the end of 2019.

 

Foamix Pharmaceuticals ($FOMX) announced that it plans to initiate a third U.S. Phase 3 trial for FMX101 beginning mid-year. The company also intends to submit an NDA in the second half of 2018, should the Phase 3 trial gives positive results. Foamix had recently reported  additional statistically significant effects on primary and secondary efficacy endpoints for the second Phase 3 trial of FMX101.
Addus HomeCare Corporation ($ADUS) announced acquiring Option Home Care, a wholly-owned subsidiary of HB Management Group. The financial details of the deal have not been announced. Options Home Care is reported to have over $20 million in revenue. The companies expect the deal to be closed in the third quarter.

 

Cambrex Corporation ($CBM) reported its first quarter revenue at $105 million, up 11 percent from the corresponding quarter of the previous year. Its gross margin also increased to 45% from 41% compared to the same quarter last year. The company announced its operation profit from the quarter to $27.2 million from $21.4 million in the same quarter last year. 
Curis Inc. ($CRIS) reported that it incurred a net loss of $15.7 million or $0.11 per share on both a basic and diluted basis for the first quarter of 2017, up from a  a net loss of $9.4 million or $0.07 per share on both a basic and diluted basis for the corresponding period in last year. The company’s revenue stood at $2.1 million as compared to $1.7 million for the same period in 2016.

Brokerage
Action
Company
Rating
Price Target
Impact on Share Price
Canaccord Genuity
Reiterates
Entellus Medical (ENTL)
Buy -> Hold

N/A
Canaccord Genuity
Upgrades
Globus Medical (GMED)
Hold -> Buy

Low
Chardan Capital
Raises Target
Lion Biotechnologies (LBIO)
Buy -> Buy
$18.00 -> $20.00
Low
Mizuho
Raises Target
Quintiles IMS Holdings (Q)
Buy -> Buy
$90.00 -> $93.00
Low
Evercore ISI
Reiterates
Qiagen NV (QGEN)
Outperform
$30.00 -> $31.50
Low
Needham & Company LLC
Reiterates
Wright Medical Group (WMGI)
Hold

Low
BMO Capital Markets
Reiterates
Wright Medical Group (WMGI)
Buy
$34.00
Low
Northland Securities
Reiterates
Intersect ENT (XENT)
Outperform
$17.00 -> $22.00
Low

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