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.

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%

Ocular Therapeutix, Inc (Nasdaq: OCUL) Shares up in Pre-Market on Phase 3 Results

OcularTherapeutix, Inc. – Nasdaq: OCUL

Bedford, MA-based Ocular Therapeutix, Inc. shares are up over 8% in pre-market trading. Traded on the Nasdaq under ticker OCUL, the shares are benefitting from positive news that additional positive secondary endpoint results were reached from its most recent successful phase 3 clinical trial of Dextenza™ (dexamethasone insert) 0.4 mg, for the treatment of post-surgical ocular inflammation and pain.

Dextenza is a product candidate administered by a physician as a bioresorbable intracanalicular insert and designed to release drug to the ocular surface for up to 30 days. Dextenza successfully met the trial’s two primary efficacy endpoints, absence of ocular pain on day 8 and absence of ocular inflammation on day 14 when compared to placebo. In this Phase 3 clinical trial, for which the complete safety assessment will be available in the first quarter of 2017, no treatment-related serious adverse events were observed. Dextenza has exhibited a favorable safety profile and has been well tolerated in all clinical trials, regardless of indication.

“The positive results for the secondary endpoint of absence of ocular flare build upon the successful topline results from this trial which we announced last month,” said Jonathan H. Talamo, M.D., Chief Medical Officer of Ocular Therapeutix.

Ocular Therapeutix, Inc. (NASDAQ: OCUL) is a biopharmaceutical company focused on the development and commercialization of innovative therapies for diseases and conditions of the eye using its proprietary hydrogel platform technology. Ocular Therapeutix plans to resubmit an NDA in the first quarter of 2017 for post-surgical pain for its lead product candidate, Dextenza™.

OCUL shares had an EPS loss of $2.69 in 2014 and a loss of $1.71 in 2015. Sales were $0.8 million in 2014 and $1.8 million in 2015. Four firms follow Ocular Therapeutix, Inc. Two give OCUL shares a “Strong Buy” rating and Two give OCUL a rating of “Buy”. Consensus price tagrte is $26.50.

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.

Ticker Symbol OCUL
Last Price a/o 8:37 AM EST $9.09
Average Volume 1.06 million
Market Cap $206 milion
Sales 1.8 million
Shares Outstanding 24.76 million
Share Float 21.79 million
Shortable Yes
Optionable Yes
Inside Ownership 2.70%
Short Float 23.45%
Short Interest Ratio 4.83
Quarterly Return 21.46%
YTD Return -0.60%
Year Return -6.52%

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.

Ticker Symbol CBAY
Last Price a/o 8:00 AM EST $2.77
Average Volume 88,500
Market Cap $45 million
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%

Depomed Inc. (Nasdaq: DEPO) Buyout Imminent?

Depomed Inc. – Nasdaq: DEPO

A New York Post article is sending shares of Depomed Inc. higher in pre-market trading. Depomed Inc. trades on the Nasdaq under ticker DEPO. The article claims that famed Wall St buy-out firm KKR is interested in purchasing Depomed. Previous reports had put any buyout offer would be around $25 a share. At 9:00 AM EST trading for DEPO was under $20.

Newark, CA-based Depomed had previously rejected attempts to purchase the company before finally putting itself out for sale to the market. The moves to reject potential suitors brought scorn for Depomed’s board from shareholders who threatened to remove several board members.

Depomed Inc. specializes in the production of painkillers. Cambria is a drug that addresses migraine headaches but Nucynta, an opiod that carries addiction risks, is their largest source of revenue – $72 million in the last quarter. In addition to its ability to develop and commercialize new drugs, Depomed also has successfully developed and licensed its unique drug-delivery technology, Acuform®. This patented oral-delivery technology allows for the targeted, extended release of pharmaceutical compounds into the upper gastrointestinal tract.

Eight firms follow Depomed Inc. Shares of DEPO have been rated by five analysts as a “Strong Buy”; two as a “Hold”; and one rates it a “Sell”. Revenues and EPS both suffered in 2015 from their 2014 highs.

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.

Ticker Symbol DEPO
Last Price a/o 9:00 AM EST $19.87
Average Volume 1.68 million
Market Cap 1.11 Billion
Sales $443.2 million
Shares Outstanding 61.42 million
Share Float 60.98 million
Shortable Yes
Optionable Yes
Inside Ownership 0.40%
Short Float 20.61%
Short Interest Ratio 7.46
Quarterly Return -27.83%
YTD Return -0.61%
Year Return -0.61%