Bristol-Myers Squibb (BMY) shares surged Monday after AbbVie (ABBV) announced that its Phase 2 clinical trials for a potential schizophrenia treatment, emraclidine, failed to meet their primary endpoint. This news potentially benefits Bristol-Myers Squibb, which acquired Karuna Therapeutics, the company behind the first new schizophrenia drug approved in decades, last year.
AstraZeneca is set to release its third-quarter 2024 earnings on Tuesday, with investors eager to see continued growth in its oncology and cardiovascular divisions. The company’s strong second-quarter performance, driven by key drugs like Tagrisso, Imfinzi, Calquence, and Farxiga, has fueled optimism for the upcoming report.
AbbVie Inc’s (ABBV) stock took a significant hit on Monday after disappointing results from its Phase 2 trials for emraclidine, a potential treatment for schizophrenia. The drug failed to meet its primary endpoint, leading to a 10.6% drop in AbbVie’s share price. The news comes as a setback for the company, which acquired emraclidine through its acquisition of Cerevel Therapeutics. Meanwhile, Bristol-Myers Squibb (BMY) saw its stock soar 13% after receiving FDA approval for its new schizophrenia medication, Cobenfy.
The 2024 US Presidential election has delivered a seismic shift in the political landscape, with Donald Trump’s victory sending ripples across various sectors. This article delves into the immediate impact of Trump’s win on the electric vehicle market, pharmaceutical industry, and the Democratic Party, while examining the reactions of key figures like Bernie Sanders, Anthony Scaramucci, and Elon Musk.
Mark Cuban, the renowned entrepreneur and investor, reveals why his original plan to retire in his mid-30s was abandoned. His relentless competitive spirit and the allure of disrupting industries drove him to pursue greater challenges, leading him to create the Mark Cuban Cost Plus Drug Company, aiming to revolutionize the pharmaceutical industry with transparent pricing and affordable medicines.
Amneal Pharmaceuticals Inc (AMRX) delivered impressive third-quarter results, exceeding both earnings and revenue estimates. The company’s strong performance was driven by robust growth in its generic, specialty, and AvKARE segments. Amneal also announced strategic initiatives to solidify its long-term growth, including new product launches and collaborations. This positive news led to a surge in AMRX stock during pre-market trading.
Novo Nordisk, the pharmaceutical giant, reported a slight miss on its third-quarter sales target, despite impressive year-over-year growth driven by its GLP-1 diabetes and obesity treatments. Wegovy sales skyrocketed 81%, while Ozempic sales climbed 26%. The company also tightened its full-year guidance, citing expected supply constraints.
Gilead Sciences (GILD) is set to release its quarterly earnings report on Wednesday, November 6th, 2024. Analysts expect the company to report an EPS of $1.55. Investors will be watching closely for any positive guidance and how the company’s performance compares to its peers. Read on for a detailed analysis of Gilead’s recent performance, analyst expectations, and key financial metrics.
JMP Securities initiated coverage on Summit Therapeutics, highlighting the potential of their oncology drug Ivonescimab (PD-1 X VEGF bispecific) in treating lung cancer. The drug has shown promising results in clinical trials, outperforming leading treatments like Keytruda and Opdivo. With numerous Phase 3 studies underway and strong head-to-head data, Ivonescimab could become a significant player in the NSCLC market, potentially generating billions in revenue.
Nektar Therapeutics’ (NKTR) stock jumped over 10% after Piper Sandler initiated coverage with an Overweight rating and a $7 price target, citing the potential of Rezpeg, the company’s lead asset, in treating Alopecia areata (AA). The analyst believes Rezpeg’s unique mechanism of action, targeting Treg cells, could offer a long-term solution for AA patients, potentially transforming their quality of life.
