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Cymabay Therapeutics, Inc. (NASDAQ:CBAY) Hits Highs with Strength in Pipeline

Cymabay Therapeutics, Inc. (NASDAQ:CBAY)

Cymabay Therapeutics, Inc. (NASDAQ:CBAY) was upgraded by H.C. Wainwright from “Neutral” to “Buy” at the end of January. However CBAY had already delivered some spectacular performance prior to that announcement. Last week CBAY shares gained over 37%, and YTD the stock is up over 85%. On Friday shares gained over 15%, on four times their average daily volumes, and the Relative Strength Indicator (RSI) was sitting at over 85 – overbought by most standards. Still, analysts have a price target of over $5.65 on CBAY.

SanFancisco, CA-based Cymabay Therapeutics, Inc. (NASDAQ:CBAY) is a clinical-stage biopharmaceutical company that develops therapies to treat metabolic diseases with high unmet medical need or serious rare and orphan diseases. Cymabay Therapeutics, Inc. (NASDAQ:CBAY) was seeded with the assets from an earlier biotechnology company that had a pipeline which was the result of over $120 million in development expenses. Their pipeline is more mature than many other firms in the biotech space.

 

According to the centers for Disease Control, 8.3 million U.S. adults are afflicted by this disease and gout’s prevalence grew by 1.2% over the previous two decades. MBX-8025 addresses aspects of metabolic syndrome, including improvements in insulin sensitivity and trends toward decreased waist circumference and body fat. Over half of the patients that entered the Phase 2 study meeting the criteria for metabolic syndrome no longer met the criteria at the end of the study. MBX-2982 demonstrated dose-dependent increases in drug exposure with a profile supporting once daily oral dosing that was safe and well tolerated with no serious adverse events, adverse event trends or dose-limiting toxicities. These results may provide clinical validation for the potential therapeutic benefits of MBX-2982 as a type 2 diabetes treatment.

Three firms follow Cymabay Therapeutics, Inc. (NASDAQ:CBAY) – one rates CAY as a “Buy”, while the other two rate the shares as a “Strong Buy”.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

2/17/2017
Ticker Symbol CBAY
Last Price a/o 8:00 PM EST  $                      3.24
Average Volume                    402,850
Market Cap (mlns)  $                    75.73
Sales (mlns) $0.00
Shares Outstanding (mlns) 23.45
Share Float (mlns) 23.13
Shortable Yes
Optionable No
Inside Ownership 0.10%
Short Float 1.53%
Short Interest Ratio 0.88
Quarterly Return 57.56%
YTD Return 86.71%
Year Return 180.87%

Halozyme Therapeutics, Inc. (Nasdaq: HALO) Reports Phase 2 Results – Shares Near 52-Week High

Halozyme Therapeutics, Inc. – Nasdaq: HALO

Shares of Halozyme Therapeutics, Inc. traded near their 52-week highs in this morning’s pre-market action. Shares are traded on the Nasdaq under the ticker HALO. HALO’s 52- week high was $17.19 and this morning shares rocketed nearly 60% to a pre-market high of $17.00. Traders are responding to favorable results in HaloZyme Therapeutics’ Phase 2 trial addressing cancer of the Pancreas. Pancreatic cancer is the third-leading cause of cancer related death in the United States, and more than 65,000 people in the U.S. and top five European countries are diagnosed annually with advanced cases of the disease.

San Diego, CA-based Halozyme Therapeutics, Inc. reported topline results from the combined analysis of Stages 1 and 2 and Stage 2 alone of its HALO 202 study in stage IV pancreas cancer patients. Among the findings, the overall study population showed a statistically significant increase in progression-free survival in patients with high levels of hyaluronan (HA-High) treated with PEGPH20 plus Abraxane and gemcitabine when compared to HA-High patients receiving Abraxane and gemcitabine alone. Stage 2 of the study, which completed enrollment in February 2016, showed a 91 percent improvement in median PFS for HA-High patients in the PEGPH20 arm, 8.6 months compared to 4.5 months in the control arm, and achieved its primary endpoint.

Halozyme Therapeutics Inc. reported sales of $135.1 million in 2015 – an improvement from reported 2012 sales of $42.3 million. EPS for HALO has had similar improvement, losing $0.74 in 2013 but only losing $0.25 in 2015.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/5/17
Ticker Symbol HALO
Last Price a/o 7:31 AM EST $17.05
Average Volume 1.6 million
Market Cap $1.39 Billion
Sales $160 million
Shares Outstanding 130,27 million
Share Float 108.71 million
Shortable Yes
Optionable Yes
Inside Ownership 0.10%
Short Float 20.06%
Short Interest Ratio 13.68
Quarterly Return -9.87%
YTD Return 8.20%
Year Return -34.78%

ImmunoGen Inc. (Nasdaq: IMGN) Continues Climb

Immunogen, Inc. – Nasdaq: IMGN

Waltham, MA-based Immunogen Inc. shares are up almost 20% in early trading. Shares of the biotechnology firm trade on the Nasdaq under ticker symbol IMGN. On December 28, 2016 Immunogen announced positive aspects of their Phase 1 trial. That news sent shares higher. On December 30 shares gapped up and have not looked back.

ImmunoGen is a recognized leader in the field of ADCs (antibody-drug conjugates) are biopharmaceutical drugs designed as a targeted therapy for the treatment of people with cancer. Immunogen’s technology is used in Roche’s Kadcyla®. Numerous leading healthcare companies have licensed limited rights to use Immunogen’s technology to develop ADC therapies, including Amgen, Genentech/Roche, Lilly, Novartis, Sanofi, and Takeda. Immunogen Inc. continues to invest in the emerging field of ADCs, with 765 issued patents and 749 pending patent applications worldwide as of mid-2016.

Shares of IMGN have never experienced positive EPS. In 2015 IMGN reported a loss of lost $1.67 on sales of $60 million – a drop from reported 2014 sales of $85.5 million. Eight firms follow Immunogen Inc. Two give IMGN a rating of “Strong Buy”; five give it a “Buy”; and one gives it a rating of “sell”. The consensus target price for IMGN is $5.00.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/4/17
Ticker Symbol IMGN
Last Price a/o 9:59 AM EST $2.33
Average Volume 1.73 million
Market Cap $140.6 million
Sales 52.8 million
Shares Outstanding 67.6 million
Share Float
Shortable Yes
Optionable Yes
Inside Ownership 0.40%
Short Float
Short Interest Ratio 7.18
Quarterly Return -20.90%
YTD Return 1.96%
Year Return -83.76%

CymaBay Therapeutics Inc (Nasdaq: CBAY) Inks Licensing Deal with Kowa

CymaBay Therapeutics, Inc. – Nasdaq: CBAY

Shares of California-based CymaBay Therapeutics, Inc. are rocketing in pre-market trading. Traded on the Nasdaq under ticker symbol CBAY, the shares closed Tuesday at $1.90. In today’s pre-market trading CBAY has hit $3.00 on very heavy volumes.

Investors appear to be reacting to news that CymaBay has entered into a licensing deal with Kowa Pharmaceuticals for development and commercialization of CymaBay’s drug Arhalofenate – an oral, once-daily dual-acting drug candidate for the treatment of gout. Arhalofenate has been licensed to Kowa Pharmaceuticals America, Inc. for the U.S.A. market only – CymaBay Pharmaceuticals retains full development and commercialization rights for arhalofenate outside the U.S.A.

Under the terms of the agreement, CymaBay will receive up to $15 million in upfront and near-term milestone payments and is eligible to receive up to an additional $190 million in payments based upon the achievement of specific development, regulatory and sales milestones.  CymaBay is also eligible to receive tiered, double digit royalties on future sales of arhalofenate products.  Kowa will be responsible for all development and commercialization costs.

Harold Van Wart, Ph.D., President and CEO of CymaBay commented on the deal “We are extremely pleased to enter into this agreement with Kowa to develop and market arhalofenate in the U.S. Kowa has proven development capabilities as well as the resources to carry out a large Phase 3 development program. They also have an established primary care sales force to market arhalofenate products. As arhalofenate is a potential novel therapy for gout, a disease most often treated by primary care physicians, it is a very good fit with Kowa’s established strength in this area…”

Three firms cover CymaBay Pharmaceuticals Inc. Two analysts give CBAY a “”Strong Buy” rating while one rates CBAY as a “Hold”. Their consensus price target is $5.00.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/4/17
Ticker Symbol CBAY
Last Price a/o 8:00 AM EST $2.77
Average Volume 88,500
Market Cap $45 million
Sales
Shares Outstanding 23.7 million
Share Float 23.13 million
Shortable Yes
Optionable No
Inside Ownership 0.10%
Short Float 1.29%
Short Interest Ratio 3.36
Quarterly Return -0.52%
YTD Return 9.83%
Year Return 4.40%