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☆ This biotech stock specializing in targeted cancer treatments can surge 50%, Jefferies says
▼ + stars: | 2024-04-17 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Nuvalent could be a winning biotech in the world of cancer treatments, according to Jefferies. Analyst Roger Song initiated the clinical-stage biopharmaceutical company with a buy rating and $97 price target, which implies 49.8% potential upside for shares over the next 12 months. "NUVL leverages strong expertise in structure-based chemistry and deep understanding of unmet [patient] needs to develop potentially 'best-in-class' small molecule targeted cancer therapy," Song wrote in a Wednesday note. "We think both candidates poise well in later line and have strong potential to move into frontline treatments." The company posted a fourth-quarter loss that was slightly wider than expected, at 62 cents per share.

Persons: Roger Song, Jefferies Organizations: Jefferies, U.S . Food, Drug Administration, FactSet Locations: U.S

☆ The weight loss drug market may soon get more crowded. Here are the companies trying to enter the booming space
▼ + stars: | 2024-01-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Michael Siluk | UCG | Getty ImagesBoehringer IngelheimBoehringer Ingelheim is developing a weight loss drug with Danish biotech firm Zealand Pharma. Some popular weight loss drugs such as Novo Nordisk's Wegovy only target GLP-1. Terns PharmaceuticalsSmaller drugmakers are developing their own weight loss drugs. Quirk acknowledged that it may be difficult for Terns to set its pill apart from other weight loss drugs. Viking Therapeutics expects to release mid-stage trial data on its weight loss injection in the first half of the year.

Persons: Michael Siluk, Boehringer Ingelheim, Erin Quirk, Quirk, it's, Eli Lilly's, Roger Song Organizations: UCG, Getty, Zealand Pharma, Nordisk's, Drug Administration, JPMorgan Healthcare Conference, Pharmaceuticals, Terns Pharmaceuticals, GLP, Viking Therapeutics, Therapeutics, Jefferies Locations: Viking

☆ Novavax's updated Covid vaccine can still catch up to Pfizer, Moderna shots this fall
▼ + stars: | 2023-10-07 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +6 min

The biotech company is banking on sales of its updated Covid vaccine — its only commercially available product — and a broad cost-cutting push to help it stay afloat. Novavax's shot fends off the virus with protein-based technology, a decades-old method used in routine vaccinations against hepatitis B and shingles. The federal government shifted Covid vaccine distribution and coverage to the private market for the first time this fall. A sign advertises COVID-19 (coronavirus) vaccine shots at a Walgreens Pharmacy in Somerville, Massachusetts, August 14, 2023. Some pharmacies, like Walgreens , also appear to be resolving supply disruptions, which left many stores without any new Covid shots for patients to receive.

Persons: Patrick Van Katwijk, Novavax, aren't, Mayank Mamtani, fends, Silvia Taylor, Taylor, Novavax's, Mamtani, Hannah Beier, Jefferies, Roger Song, Brian Snyder, Biden Organizations: Dutch Health Service Organization, Getty, Pfizer, Moderna, Drug Administration, Riley Securities, CNBC, Covid, FDA, Bloomberg, Insurance, Walgreens, Reuters Locations: The Hague, Netherlands, U.S, Schwenksville , Pennsylvania, Somerville , Massachusetts

☆ Covid vaccine maker Novavax sees a pathway to survival – but it won’t be easy
▼ + stars: | 2023-06-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +10 min

Jakub Porzycki | NurPhoto | Getty ImagesNovavax has a clear message for Wall Street: The cash-strapped Covid vaccine maker sees a pathway to survival. The 36-year-old company will continue to rely on its protein-based Covid vaccine – its only commercially available product – for most of its revenue this year. Once the U.S. government's supply of free Covid vaccines runs out, all three companies will sell updated shots directly to health-care providers. A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands. But Taylor emphasized that the plan will help Novavax refocus on its top priority: delivering an updated vaccine in the coming months.

Persons: Jakub Porzycki, Novavax, Covid, Cowen, Brendan Smith, John Jacobs, Smith, that's, Silvia Taylor, Taylor, Jefferies, Roger Song, Patrick Van Katwijk, Mayank Mamtani, let's, Mamtani, Let's, Song, Ding Genhou Organizations: NurPhoto, Getty, Pfizer, Moderna, CNBC, Food and Drug Administration, World Health Organization, FDA, Dutch Health Service Organization, Riley Securities, U.S, Centers for Disease Control, CDC, Reuters, Visual China Locations: Krakow, Poland, Maryland, U.S, The Hague, Netherlands, Moderna, Geneva, Hohhot, Inner Mongolia Autonomous Region, China

Novavax, whose COVID vaccine is its lone marketed product after 35 years in business, is relying on launching an updated COVID shot this fall to match circulating strains and cost cuts to improve its prospects. Novavax said $800 million of that was from "locked-in" overseas purchase contracts for the COVID shot that it has committed to ship this year. Novavax is working to produce an update version of its protein-based vaccine in time for the fall COVID-19 booster season. Novavax expects the cost cuts to reduce its annual research and commercial expenses by 20% to 25% from last year. Data from a mid-stage trial in adults aged 50 to 80 years showed that the combination shot produced an immune response comparable to its protein-based COVID vaccine and already approved influenza shots, Novavax said.

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