Ionis Pharmaceuticals (IONS) announced that the pivotal Phase 3 APPROACH study of volanesorsen met its primary endpoint of reducing triglyceride levels in patients with familial chylomicronemia syndrome. The trial was being carried out by the company’s wholly owned subsidiary Akcea Therapeutics. The average incoming triglyceride level of patients in the study was 2,209 mg/dL. For the primary endpoint of the study, volanesorsen-treated patients (n=33) achieved a statistically significant (p<0.0001) mean reduction in triglycerides of 77% from baseline after 3 months of treatment, compared to a mean increase of 18% in placebo-treated pati...
Last Thursday, March 2, shares of Snapchat parent Snap Inc. (SNAP) went public at $17, well above the $14-$16 initial public offering range. The shares hit a high of $29.44 on Friday morning before closing the week out at $27.09. That quick gain of just under 60 percent was great for investors that were involved with the IPO, but it wasn’t quite the same for investors that entered into SNAP shares after the shares started trading on Thursday morning. With SNAP shares now trading in the secondary market and the buildup of the IPO now behind us, the question to us is are SNAP shares really worth the current $34.7 billion in market capitaliz...
Rate hike is back on the table, that too as early as this month, as per the latest comments from Fed Chair Janet Yellen. The Fed altered her statement of monetary policy to “moderately accommodative” from “modestly accommodative”, used in her January speech, indicating that the easy money policy era is nearing an end. As a result, the odds for a March rate hike skyrocketed to 82% from less than 20% a week ago, according to the CME Group’s FedWatch tool. The Fed stated that the economic data points over the past couple of months have been assuring with the economy growing at an above-average pace, job gains being robust, and inflat...
Last week, Target Corp. (TGT) offered a rather gruesome outlook for 2017 that came on the heels of a very weak Q4 2016 performance. Much of the Q4 results were offered in a preliminary warning to investors on January 18th in a press release. At that time, the company had experienced an underwhelming and below guidance holiday period with comparable sales in Target stores declining more than 3 percent, partially offset by digital sales growth of more than 30 percent. But at less than 5% of total sales for the retailer, digital sales simply couldn’t offset where greater than 95% of sales are transacted, in stores. Target was forced to lower t...
Shares of Seattle Genetics (SGEN), a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer, are in focus in morning trading after the company said that the U.S. Food and Drug Administration lifted a clinical hold on several early stage studies testing its experimental cancer drug. CLINICAL HOLD LIFT: Seattle Genetics announced this morning that the FDA has lifted the clinical hold on phase 1 trials of vadastuximab talirine in acute myeloid leukemia. The clinical hold was announced on December 27 after the company reported the deaths of four people in trials testing the experimental can...
The Habit Restaurants, Inc. (HABT), a fast casual restaurants company yesterday reported fourth quarter and full year 2016 financial results. Habit reported fourth quarter earnings of $0.07 per share which beat same quarter last year earnings of $0.04 per share. Habit reported fourth quarter revenues of $73.9 million which beat same quarter last year numbers of $60.6 million. The Habit Restaurants, Inc. CEO’s Comments “Our fourth quarter results included a 21.8% increase in total revenue and our 52nd consecutive quarter of positive comparable restaurant sales. We’re particularly proud of these results as they occurred during a fie...
The FDA, which gave its nod to 22 treatments last year, has given its approval to 5 drugs so far in 2017. This includes Synergy’s Trulance (treatment of chronic idiopathic constipation (CIC) in adults), Amgen’s (AMGN – Free Report) Parsabiv (treatment of secondary hyperparathyroidism in adult patients with chronic kidney disease undergoing dialysis), Marathon’s Emflaza (Duchenne muscular dystrophy), Valeant’s (VRX – Free Report) Siliq (moderate-to-severe plaque psoriasis) and Lexicon’s Xermelo (treatment of carcinoid syndrome diarrhea). Here is a look at a few important regulatory events scheduled for the month of Ma...
Good day to all and happy week ahead. To summarize we are at an important junction and the important levels to watch out for at 102.30 and 100.70. Don’t forget the possible Head and Shoulders pattern and the implications if we break the neckline at 99.30. EURUSD As I expected from last week when it was trading around 1.0520-1.0530 price has reached 1.06 and is trading above it today. “#EURUSD I can see 1.06 being challenged before any downward move below 1.0450…” — trading2day https://t.co/ddhDtNGOMM — Alexandros Yfantis (@alexanderYf) March 2, 2017 GBPUSD At important Fibo support AUDUSD Stopped the decline just above t...
Written by Isabelle Mateos y Lago China’s debt-driven growth model is starting to reach its limits yet the country is also transitioning into a high-tech, more consumer-driven economy. How this economic evolution plays out will have major ramifications for the global economy… The map and statistics below put China in context, showing just how important it has become for the global economy. Economic trends, development and policy vary greatly by region, as evident in our new interactive map graphic comparing just a few economic and demographic metrics across provinces. Awareness of this heterogeneity is important to fully grasp the sh...
Merkel in the running for a fourth term as Chancellor of Germany. There are no term limits. However, in the past, Merkel was criticalof her predecessor and mentor Kohl for outstaying his welcome. Social Democrat Schulz is mounting a serious challenge. Her immigration stance, the seemingly light domestic agenda, and voter fatigue may make this her toughest challenge yet. Most her tenure has been in a coalition government with the SPD. Schulz is running against not just Merkel, but also the shift in the SPD beginning with Schroeder’s labor market reforms. Schulz represents the left-wing of the SPD. Even if Merkel is ultimately ...