E Full News Day

Wednesday proved to be a full news day with no less than 4 drug companies reporting. This is my favorite sector but I am overwhelmed with work.

There was also important data on energy. The US greatly increased its exports of liquified natural gas in the first half-year, to 9.6 billion cubic feet per day, a rise of 42% from a year earlier. The main reason was higher demand and higher spot prices. Most of the LNG went to Asia, where the growth from prior year was 46%. European demand was up only 37%. We have important reports on the energy sector too. The Dow Jones was down along with the S&P this morning, but the tech-heavy Nasdaq was up. A Fed taper was closer to coming after new data on economic recovery came out.

Business newspaper article

image source

So it's off to the races.

Pharmaceuticals

*Novartis's consensus target prices was cut to $1.634/sh for the current quarter from $1.668. NVS is Swiss. Its share barely moved.

*Dublin-based Alkermes plc ALKS reported sales in Q2 of $160.8 mn up from prior Q2 level of $130.715 mn. The cost of goods sold came to $53.124 mn from $54.144 mn a year earlier, moving to a pretax gain of $1234 mn versus a loss a year ago. After tax earnings came in at $23.64 mn of one US cent per share compared to prior year's loss of 43¢.

*Israeli Compugen CGEN reports that it has no debt and cash on hand of $111 mn, down from $124 mn at the start of the year. It had a net loss of $9.5 mn in Q2, equivalent of 11¢/sh. A year go it had a loss of $62 mn or 84¢/sh. It mainly told the world about how it Is working on combinations of its drug COM 701 to block tumors in various types of cancer, currently to all comers, but moving to working with specific types of tumors going forward. Its cancer treatments hit and bind with tumors and inhibit their growth, confirmed by periferal blood tests of those treated. There are now 3 targets for the cancer blockers, T stem-like cell expressing PVRIG, PVRL2, and tecentriq. These are now being tested in tumors with and without inflammation, in various cominations with Opdivo and its own anti-tigit and anti-PD1 drugs, in lympoi and a further refinement. The stock rose 9.1% at the US opening.

1 2 3 4
View single page >> |

And yet again my new website is not functional as it was taken down for hack risks before I was able to log in. I am not sure how this happened but I think it was because the techies used a very ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.