UBS initiated coverage on Harmony Biosciences Holdings Inc (HRMY) with a Buy rating and a $56 price target, citing strong growth potential for its narcolepsy drug Wakix and a promising pipeline of CNS assets. The firm expects Wakix to achieve $1.2 billion in peak sales, driven by increased narcolepsy diagnosis and the drug’s unique profile in the polypharmacy market.
Results for: Biopharma
Lifera Omics, a subsidiary of Lifera, has appointed renowned Saudi human geneticist Prof. Fowzan Sami Alkuraya as its Chief Medical and Genomics Officer. Prof. Alkuraya’s vast experience in human genomics will be instrumental in helping Lifera Omics achieve its mission to advance Saudi Arabia’s role in multiomics globally.
Avicanna Inc., a Canadian biopharmaceutical company focused on cannabinoid-based therapies, has secured $1.9 million through a private placement offering. The funds will be used for general operations, research and development, and expansion into new markets. This news follows the recent issuance of a U.S. patent for Avicanna’s topical cannabinoid composition for pain relief.
Bio-Rad Laboratories, Inc. is facing a challenging environment with slowing growth in its Life Science segment due to a soft Biopharma market and macroeconomic headwinds. While the company is optimistic about the future of its Droplet Digital PCR (ddPCR) technology, it has lowered its adjusted operating margin projection for 2024 due to increased costs and competitive pressure. Despite these challenges, Bio-Rad continues to invest in its Clinical Diagnostics segment, which saw growth in the second quarter.