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Inovio Pharmaceuticals Inc. ($INO) announced its new collaboration with ApolloBio Corporation. The new pact deals with providing ApolloBio with with the exclusive right to develop and commercialize VGX-3100, Inovio’s DNA immunotherapy product designed to treat pre-cancers caused by human papillomavirus (HPV), within Greater China (China, Hong Kong, Macao, Taiwan).
The terms of the deal will result in Inovio receiving $15 million in upfront and near term payments consisting of an initial $3 million signing fee. Another $12 million milestone payment will be due upon lifting of the VGX-3100 phase 3 pre-initiation clinical hold by the FDA. The company stock jumped over 11 percent in the pre-market session on the news.

Teva Pharmaceuticals ($TEVA) stock is up over 4 percent in the pre-market session as the company announced better than expected results for its fourth quarter. The company earned $1.38 per share excluding one-time items in the quarter, up from $1.28 it had reported for the corresponding quarter of the previous year. The company was expected to earn $1.35 per share.
Teva’s revenue grew 33 percent to $6.5 billion, beating consensus estimate of $6.24 billion. The increase is primarily due to the inclusion of $630 million from the Actavis acquisition. Teva reaffirmed its 2017 forecast of earnings per share of $4.90-$5.30 on revenue of $23.8 billion-$24.5 billion. The company stock saw massive decline in its value in the past 12 months as it declined over 42 percent. The positive results are expected to provide support to the declining stock price.

 

• Great Basin Scientific ($GBSN) announced its new restructuring plan. The company plans to cut up to 50 position throughout the country. It will also streamline certain manufacturing and administrative processes. Annual cash burn should be reduced by $10 million to 12 million.
• Myriad Genetics ($MYGN) is reported to be scheduled for being included in to the S&P SmallCap 600. The firm will replace Inteliquent ($IQNT) in that index, as private-equity firm GTCR's $23/share buyout of the company was completed late last week. Myriad will be included in the Biotechnology sub-industry index after the close Tuesday.

• Intercept Pharmaceuticals ($ICPT) reported that it has changed the protocol for its Phase 3 REGENERATE study that should accelerate its completion and enhance the prospects for a positive outcome. The decision was taken after discussion with the FDA. The changes include a new primary endpoint of fibrosis improvement or NASH resolution (previously both) and a reduction in target enrollment to 750 subjects from nearly 2,000.

 
• Acorda Therapeutics ($ACOR) announced that it has settled its patent infringement litigation against Apotex. The dispute was related to the Apotex's ANDA filing seeking approval for a generic version of Ampyra (dalfampridine) Extended-Release Tablets. Apotex will now be permitted to market a generic product in 2025 or earlier under certain circumstances.

• Precise Biometrics ($PRBCF) announced the acquisition of the assets of NexID Biometrics. The deal is worth SEK 32 million in cash. The deal will boost the company’s portfolio of fingerprint recognition software with industry leading liveness detection. It will also boost its postion as the leader in fingerprint software.

 
• Aethlon Medical Inc. ($AEMD) announced its third quarter results. The company’s net loss for the third quarter of fiscal 2017 was $1,206,000, or $0.15 per share, compared to a net loss of $1,217,000, or $0.16 per share in the prior year period. Its consolidated operating expenses were $1.24 million in the third quarter of fiscal 2017 compared to $1.39 million in the prior year period. The Company had other income of $22 thousand in the third quarter of fiscal 2017 compared to other expense of $149 thousand in the prior year period.
• Cerner Corp ($CERN) announced its fourth quarter earnings a $0.57 per share, down 1.7 percent on year over year basis. The company reported net revenues of $1.257 billion, up nearly 7% on a year-over-year basis. The company had provided guidance of $1.225 billion to $1.300 billion. For full-year 2016, the company reported revenues worth $4.80 billion, up 8% on a year-over-year basis. Cerner’s domestic revenues increased 7% from the year-ago quarter to $1.11 billion and non-U.S. revenues grew 8% to $145 million.

• Regeneron ($REGN) receives Buy rating from Credit Suisse. The price target for the stock has been set at $485.
• Dexcom ($DXCM) receives Buy rating from Canaccord Genuity. The price target for the stock has been set at $95.

Gainers (% price change) Last Trade Change Mkt Cap
Immunomedics, Inc.
IMMU (NASDAQ)
5.23 +0.93 (21.63%) 569.99M
Spectrum Pharmaceuticals
SPPI (NASDAQ)
5.48 +0.36 (7.03%) 453.41M
Landauer Inc
LDR (NYSE)
52.25 +2.65 (5.34%) 502.27M
CorMedix Inc.
CRMD (NYSEMKT)
2.40 +0.12 (5.26%) 104.28M
Zeltiq Aesthetics Inc
ZLTQ (NASDAQ)
49.40 +2.32 (4.93%) 2.01B
Losers (% price change)
Zogenix, Inc.
ZGNX (NASDAQ)
9.10 -0.70 (-7.14%) 240.31M
BioCryst Pharmaceuticals
BCRX (NASDAQ)
5.66 -0.34 (-5.67%) 432.61M
Sarepta Therapeutics Inc
SRPT (NASDAQ)
27.83 -1.51 (-5.15%) 1.52B
Array Biopharma Inc
ARRY (NASDAQ)
11.99 -0.57 (-4.54%) 2.37B
Cerner Corporation
CERN (NASDAQ)
51.50 -2.38 (-4.42%) 17.80B
Most Actives (dollar volume)
Gilead Sciences, Inc.
GILD (NASDAQ)
66.36 +0.77 (1.17%) 87.43B
Johnson & Johnson
JNJ (NYSE)
115.24 +1.16 (1.02%) 315.39B
Pfizer Inc.
PFE (NYSE)
32.35 -0.03 (-0.09%) 197.78B
Merck & Co., Inc.
MRK (NYSE)
64.15 -0.23 (-0.36%) 177.06B
Amgen, Inc.
AMGN (NASDAQ)
167.89 +0.42 (0.25%) 124.41B