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☆ Gilead quarterly profit falls on COVID sales drop, legal settlement charge
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] Gilead Sciences is seen during the outbreak of the coronavirus disease (COVID-19), in Oceanside, California, U.S., April 29, 2020. REUTERS/Mike Blake/File PhotoCompanies Gilead Sciences Inc FollowAug 3 (Reuters) - Gilead Sciences (GILD.O) on Thursday reported lower second-quarter profit as costs from a legal settlement and sharply lower sales of its COVID-19 treatment offset another strong performance by HIV drugs. The drugmaker raised its full-year revenue forecast, even as it trimmed its estimate for COVID antiviral Veklury due to lower pandemic-related hospitalizations. Wall Street analysts had expected an adjusted profit of $1.64 per share on revenue of $6.44 billion, according to Refinitiv data. The California-based company raised the low end of its 2023 revenue forecast range to $26.3 billion from $26.0 billion, but kept the high end at $26.7 billion.

Persons: Mike Blake, Gilead, Deena Beasley, Michael Erman, Bill Berkrot Organizations: Gilead Sciences, REUTERS, Wall Street, Thomson Locations: Oceanside , California, U.S, Gilead, California

☆ Pfizer makes equity investment in Caribou Biosciences
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

July 6 (Reuters) - Pfizer (PFE.N) has invested $25 million to buy a minority stake in Caribou Biosciences (CRBU.O), making it the latest small biotechnology firm to attract the pharmaceutical giant's interest. The news lifted shares of Caribou more than 61% in early trade. Pfizer purchased nearly 4.7 million Caribou shares at $5.33 per share, Caribou said on Thursday, representing a premium of about 30% over Caribou's previous close price. This represents 7.64% of outstanding shares in Caribou, according to Reuters' calculation based on Refinitiv IBES data. It also made a $25 million equity investment in Akero Therapeutics (AKRO.O) last year.

Persons: Caribou, NASH, Jennifer Doudna, Raghav Mahobe, Leroy Leo, Maju Samuel Organizations: Pfizer, Caribou Biosciences, Biohaven Pharmaceutical, Akero Therapeutics, Thomson Locations: Caribou, California, Bengaluru

☆ Aging populations are creating major opportunities, fund manager says. Here's where he's investing
▼ + stars: | 2023-06-30 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Health care is just one area to consider, according to Saurymper, who manages Pacific Asset Management's Longevity & Social Change Fund. As well as health care and pharmaceutical stocks, its holdings span fitness and nutrition, personal care, aesthetics and financials. "Now I think about health care along the lines of units of health care, rather than a drug. Investing in companies that leverage technology to deliver efficient health care is also crucial in cutting costs, he added. Education Looking beyond more obvious aging themes, the fund manager said education and well-being also offer investors a major opportunity.

Persons: Dani Saurymper, Saurymper, Eli Lilly, They're, it's, There's, CNBC's Ganesh Rao Organizations: CNBC, Alzheimer's, Tech, Apple, Apple Watch, CVS Locations: U.S

☆ Eli Lilly to buy Sigilon Therapeutics to expand diabetes treatments
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

A major provider of diabetes drugs and insulin, Lilly owned nearly 8.44% stake in Sigilon as of March 27. It would pay $14.92 per share, or $34.6 million in upfront cash, for the rest of the company. Sigilon shareholders will get an additional $111.64 per share if they achieve certain developmental and regulatory milestones, Lilly said. The deal, which is expected to close in the third quarter of 2023, would give Lilly access to Sigilon's proprietary cell therapy candidate being developed to treat type 1 diabetes. The two companies have been partners since 2018, when Lilly paid Sigilon $63 million for a licensing deal to develop cell therapes targeting type 1 diabetes and made an undisclosed equity investment.

Persons: Eli Lilly, Lilly, Sigilon, Mariam Sunny, Shilpi Majumdar Organizations: Sigilon Therapeutics, Thomson Locations: Sigilon, Bengaluru

☆ Bayer claims early lead in Parkinson's stem cell therapy
▼ + stars: | 2023-06-28 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

Some of this work is done by Britain's' Cambridge University, South Korea's Bundang CHA Hospital, International Stem Cell Corp's (ISCO.PK) Cyto Therapeutics in Australia, the Chinese Academy of Sciences, Harvard University and Japan's Kyoto University Hospital. For BlueRock's experimental therapy, researchers took induced pluripotent stem cells, which are modified to regain the ability to form any type of specialised tissue, and transformed them into dopamine-producing nerve cells. When surgically implanted into the brain of a person with Parkinson's disease, the therapeutic cells are designed to restore neural networks destroyed by the disease. Initial trial results showed the cells multiplied and started making dopamine, an important brain signalling molecule which is lacking in Parkinson's patients. Parkinson's, for which there is no cure and which affects more than 10 million people worldwide, causes progressive brain damage.

Persons: Wolfgang Rattay, Bayer, BlueRock, Britain's, Jennifer Doudna, Ludwig Burger, Miranda Murray, Mark Potter Organizations: Bayer AG, REUTERS, Bayer, Cambridge University, South Korea's, CHA Hospital, Cyto Therapeutics, Chinese Academy of Sciences, Harvard University, Japan's Kyoto University Hospital, BlueRock Therapeutics, Mammoth Biosciences, Thomson Locations: Leverkusen, Germany, FRANKFURT, Australia, San Francisco Bay

☆ Buy this stock set to plug a 'massive skills gap' in aging America, fund manager says
▼ + stars: | 2023-06-27 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

There's one stock that resonates the most for fund manager Dani Saurymper as social trends shift amid an aging population. As such, it's well placed to plug the "massive skills gap" in the health care industry, according to Saurymper. As well as health care and pharmaceutical stocks, its holdings span fitness and nutrition, personal care, aesthetics and financials. "Now I think about health care along the lines of units of health care, rather than a drug. However, key industries exposed to the aging population go beyond the challenges of aging, he added.

Persons: Dani Saurymper, Adtalem, Saurymper, There's Organizations: CNBC Locations: It's, U.S

☆ ASCO conference will put the focus on the fight against cancer. These stocks are in the spotlight
▼ + stars: | 2023-05-28 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Developments in cancer research will be in the spotlight as the American Society of Clinical Oncology hosts the world's biggest cancer research conference in Chicago, starting Thursday. The pair has already has won regulatory approval for Enhertu for metastatic HER2-low breast cancer, but the companies are also studying its use in a variety other HER2 tumors in breast cancers. Lilly's drug, Verzenio, is used in high-risk patients with HR-positive HER2-negative breast cancer that is more likely to reoccur and has already breached the patient's lymph nodes. In a research note earlier this month, Guggenheim analyst Seamus Fernandez said Kisqali is already taking market share from Pfizer's Ibrance in metastatic breast cancer. Merck's Keytruda is also being watched for what benefits it could offer early-stage lung cancer patients .

BMO Capital Markets says Gilead Sciences is a "best-in-class" therapy franchise that could soon see multiple expansion. The firm upgraded shares to outperform from market perform and raised its price target to $100 from $90. The new price target implies shares rallying 27.5% from Monday's close. Analyst Evan David Seigerman said that, in addition to Gilead's strong therapy franchise, its improving solid tumor oncology business and durable-growth anchored by its HIV/virology division could lead to strong growth. "While we note that Gilead currently trades at a discount to large-cap peers, continued de-risking of its oncology franchise could drive multiple expansion."

☆ Here are Tuesday's biggest analyst calls: Netflix, Carvana, Walmart, Western Alliance, Deere & more
▼ + stars: | 2023-05-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: JPMorgan reiterates Netflix as overweight JPMorgan said paid password sharing should be a financial tailwind for Netflix. Mizuho reiterates SoFi as buy Mizuho said it's standing by shares of SoFi. Citi reiterates Deere as buy Citi said it's standing by its buy rating on shares of Deere. Citi upgrades Williams Companies to buy from neutral Citi said the petroleum stock is oversold. Citi reiterates FedEx as buy Citi said it's standing by its buy rating FedEx shares.

☆ Here are Friday's biggest analyst calls: Amazon, Apple, Tesla, Royal Caribbean, Intel, Hasbro & more
▼ + stars: | 2023-04-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Friday's biggest calls on Wall Street: Bank of America upgrades Hasbro to neutral from underperform Bank of America said it sees resilient demand for Hasbro . Goldman Sachs reiterates Amazon as buy Goldman said it's standing by the stock after its robust earnings report Thursday. " Benchmark upgrades Intel to buy from hold Benchmark said in its upgrade of Intel that the worst is already baked in. Bank of America upgrades Pilgrim's Pride to buy from neutral Bank of America said in its upgrade of the poultry company that the worst is behind it. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's still bullish on Apple shares heading into earnings next week.

☆ I've treated bulldogs' health issues for over 30 years. I now help more Frenchies than ever and recommend knowing about all their medical needs before getting one.
▼ + stars: | 2023-04-13 | by ( Crystal Raypole | ) www.businessinsider.com time to read: +8 min

It's an unfortunate irony — one that means only a few vets have adequate experience treating bulldogs. How I became an expert in treating French bulldogsDr. Kraemer has treated thousands of bulldogs. I even treated some rescued French bulldogs with stem cell therapy, a cutting-edge regenerative medicine. But in my experience, with the improvement of preventive care, wellness, and medicine, the average French bulldog may live 11 to 12 years. In fact, I've treated French bulldogs who competed in local fundraising physical activities, like Cherie the Surf Dog who raises funds for French Bulldog Rescue.

☆ Wall Street analysts love these emerging market stocks that all trade in the U.S.
▼ + stars: | 2023-03-30 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

While U.S. and European investors continue to navigate a banking crisis, high inflation and slower earnings growth, a host of emerging markets stocks beloved by Wall Street analysts are expected to surge higher. Emerging markets equities had an optimistic start to the year as China reopened its economy, and as high inflation showed signs of easing. In 2023, the iShares MSCI Emerging Markets ETF (EEM) is up 4.4% through Thursday's open. In fact, some emerging markets stocks that are also listed in the U.S. could be due for huge upside. These names are included in exchange traded funds such as the the iShares MSCI Emerging Markets ETF, Vanguard FTSE Emerging Markets ETF, iShares Core MSCI Emerging Markets ETF, the Schwab Emerging Markets Equity ETF or the SPDR Portfolio Emerging Markets ETF.

☆ Goldman's strong balance sheet basket is beating the market amid banking crisis. Here's what's in it
▼ + stars: | 2023-03-20 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stocks with strong balance sheets are gaining favor as the broader market whipsaws amid the ongoing bank crisis. Goldman Sachs' basket of 50 S & P 500 companies with strong balance sheets has outperformed its weak balance sheet basket by six percentage points since March 8, the day Silicon Valley Bank's downward spiral began , according to an analysis of performance released Friday by analyst David Kostin. The outperformance of stocks with stronger balance sheets has marked a "sharp rotation," Kostin said. Technology and other growth stocks are considered particularly interest rate sensitive and are expected to do better during periods with lower interest rates. Nvidia , another technology stock in the basket, has also rallied this year in tandem with growing interest in artificial intelligence.

☆ Shares of this under-the-radar cell therapy stock are set to double, says Baird
▼ + stars: | 2023-03-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Shares of biotech company bluebird bio should double in the coming year, thanks to its treatments for sickle cell disease, a genetic blood disease and a rare genetic brain condition, according to Baird. The Wall Street firm initiated coverage of the stock on Monday with an outperform rating and $10 price target, which implies 104% upside from Monday's close. The company's management said in January that 40 patients had initiated benefits verification for Zynteglo during the last three months of 2022. Lastly, Baird expects the use of bluebird's Skysona treatment for CALD, which was approved in September 2022, to increase significantly in the coming years. The under-the-radar stock, which has a market cap of over $500 million, is down about 29% this year, as of Monday's close.

☆ Europe will lose out on medical innovation if draft EU reforms pass -Novo Nordisk CEO
▼ + stars: | 2023-03-02 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

LONDON, March 2 (Reuters) - Europe will lose out to countries like the U.S. and Japan on new medical research, trials and treatments unless draft rules reforming the European pharmaceutical landscape change, the CEO of Danish drugmaker Novo Nordisk (NOVOb.CO) warned on Thursday. It says drugs need to reach patients more quickly and in all European nations. Novo's Lars Jorgensen lamented that without changes to the current draft, his company would be forced to research, test and bring products in its pipeline to market in the United States and elsewhere, instead of in Europe. A lose, lose, lose," he said in an interview. The Commission's current draft was leaked in Brussels last month and will likely change even before debate in the European parliament and among governments.

☆ This emerging markets fund outperforms by finding ideas in small- and mid-cap companies
▼ + stars: | 2023-03-01 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

A keen appreciation for ideas that fly under the radar helped one emerging markets fund outperform during the pandemic. Since starting at the Matthews Emerging Markets Small Companies (MSMLX) fund in 2020, Vivek Tanneeru said he has kept his focus on small- and mid-cap companies to generate alpha (returns above a benchmark). For example, his Matthews Emerging Markets Sustainable Future fund (MISFX) fund, which he founded in 2015, is also given five stars at Morningstar. One stock Tanneeru is particularly bullish on now is Legend Biotech . For Tanneeru, small caps are a more nimble way for investors to gain access to emerging markets and tap into consumer preferences there.

The Centers for Medicare and Medicaid (CMS) said it would test the models in the Medicare health program for people age 65 or over and the disabled and the Medicaid program for the poor. The agency also said it would work on developing a mandatory model for payment methods for drugs approved by the U.S. Food and Drug Administration (FDA) under its Accelerated Approval Program (APP). CMS will announce the first model's start date "as soon as operationally feasible", it said. Development on the Medicaid gene and cell therapy model will start in 2023 and launch for testing in 2026. The agency will start working with the FDA on the accelerated approval model in 2023 but has no planned launched date yet.

☆ Why biotech CEOs are growing more cautious about going public — and what they're waiting for
▼ + stars: | 2023-01-30 | by ( Andrew Dunn | Yeji Jesse Lee | ) www.businessinsider.com time to read: +6 min

Biotech-startup CEOs are taking more nuanced approaches to going public amid a downturn. SAN FRANCISCO — After record years of initial public offerings in 2020 and 2021, biotech leaders told Insider that the "recipe" for going public no longer works. Most biotechs saw their valuations increase by between 20% and 50% after going public. Insider asked five startup CEOs about how they approach going public and their perspectives on the biotech-IPO market for 2023. But going public doesn't carry an importance of validation for herself or the field of biotech companies specializing in AI, she said.

☆ The recipe biotech startups use to go public is being thrown out. 5 startups CEOs reveal how they're changing their focus.
▼ + stars: | 2023-01-26 | by ( Andrew Dunn | Yeji Jesse Lee | ) www.businessinsider.com time to read: +6 min

☆ A tiny biotech just suffered a safety scare in a gene-editing trial, raising 3 big questions for the entire CRISPR field
▼ + stars: | 2023-01-06 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +5 min

The biotech halted the trial while it investigates the case, which may impact other CRISPR companies. The small biotech company Graphite Bio said Thursday afternoon that it paused a study testing an experimental gene-editing therapy after the first treated patient suffered a serious side effect. The safety scare raises more questions than answers as Graphite's scientists investigate what exactly may have caused the side effect. Lehrer said it's too early to say whether this safety scare could have implications for the broader gene-editing field. Its next-closest product, a gene-editing therapy for beta-thalassemia, isn't expected to start initial human testing until 2024 at the earliest.

☆ Biotech investor Brad Loncar shares 10 predictions for 2023, including a hot new cancer target, Nobel Prize winners, and a biotech founder running for president
▼ + stars: | 2023-01-04 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +14 min

Loncar shared his 2023 forecast, including new drugs, Nobel Prize winners, and more globalization. Brad Loncar isn't expecting a miraculous rebound for the biotech industry in 2023. In an interview with Insider, Loncar shared 10 predictions for biotech in 2023, ranging from Nobel Prize winners and presidential runs to hot cancer targets and bankruptcy worries. 2022 was a rough year for the biotech industry, which once again underperformed the stock market. The industry runs to the next super-hot cancer target: Claudin 18.2In cancer research, drug companies are always on the hunt for the next promising target.

☆ Here are Tuesday's biggest analyst calls: Tesla, Apple, Wynn, Amazon, Wendy's, Delta & more
▼ + stars: | 2023-01-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

We are lowering our relative ratings on ALLY, COF and MTB from Overweight to Equal Weight and ZION from Equal Weight to Underweight." Wells Fargo upgrades Wynn to overweight from equal weight Wells said in its upgrade of the casino company that it sees a significant reopening opportunity for the stock. " Wells Fargo initiates Mondelez as overweight Wells said the food products company has "superior" fundamentals. Wells Fargo downgrades Molson Coors to equal weight from overweight Wells said in its downgrade of the stock that it sees downside to estimates. Baird names Wells Fargo a top 2023 pick Baird said it likes the risk/reward for the banking giant in 2023.

☆ How a gene-editing breakthrough from a Harvard lab saved the life of a girl with leukemia
▼ + stars: | 2022-12-19 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +6 min

A 13-year-old girl was the world's first patient to get a cell therapy called base editing in May. Base editing is a new gene-editing technology that could lead to cures for many diseases. Alyssa, 13, was the first-ever patient to receive a base-edited cell therapy after enrolling in a clinical trial in May. Base editing allows scientists to make ultraprecise changes to single letters of DNA in cells. Alyssa, a teenager in Leicester, England, received a base-edited cell therapy to treat her leukemia.

An experimental treatment for advanced melanoma is poised to be the next major advance in cancer treatment, experts say. Those who got TIL therapy had a 50% reduction in disease progression and death, compared to those who were treated with ipilimumab, the study found. Bruce Hawley and his wife, Laurie, celebrated their third wedding anniversary in 2021 in Vancouver, several years after his TIL therapy. "The chemotherapy knocks down the immune cells to make space for the TIL cells going in," Hwu said. The hope is that TIL therapy will also be used for other solid cancers, not just melanoma, Rosenberg said.

☆ Morgan Stanley's top biotech picks for 2023. One 'transformative' stock promises 50% upside
▼ + stars: | 2022-12-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Morgan Stanley views biotechnology as an area of the market that abounds with opportunity heading into 2023. It's been a painful year for the investors — and once high-flying growth stocks — as the Federal Reserve's rate hikes lead to fears of a slowing economy. Morgan Stanley also expects mergers and acquisitions activity to pick up in 2023 given the piles of cash some companies have on hand. Here are some of the stocks Morgan Stanley recommends heading into the new year: Harrison named BeiGene among the bank's biotech stock picks heading into the new year. "We expect 2023 to finally be the year that commercial upside can drive BMRN higher," Harrison wrote.

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