The Zacks Analyst Blog Highlights: Celgene, Onyx Pharmaceuticals, Medivation,
Targacept and Eli Lilly
CHICAGO, Feb. 12, 2013
CHICAGO, Feb. 12, 2013 /PRNewswire/ --Zacks.com announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include Celgene Corporation
(Nasdaq:CELG), Onyx Pharmaceuticals, Inc. (Nasdaq:ONXX), Medivation, Inc.
(Nasdaq:MDVN), Targacept, Inc. (Nasdaq:TRGT) and Eli Lilly and Company
Get the most recent insight from Zacks Equity Research with the free Profit
from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Monday's Analyst Blog:
U.S. Approval for Celgene's Pomalyst
The US Food and Drug Administration (FDA) recently delivered encouraging news
to Celgene Corporation (Nasdaq:CELG) by approving the company's oncology drug,
Pomalyst was approved in the US in combination with low-dose dexamethasone for
the treatment of relapsed and refractory multiple myeloma (MM) patients, who
have received at least 2 prior therapies. Pomalyst has been approved to treat
patients whose cancer has worsened on or within 60 days of the last
We remind investors that Celgene had filed a new drug application (NDA) with
the FDA seeking approval for Pomalyst last year. The FDA had granted standard
review (10 month review period) to the NDA for Pomalyst for the MM indication.
The US regulatory body cleared the drug a couple of days before the assigned
target date of Feb 10, 2013.
The FDA approval for Pomalyst came on the back of encouraging data from a
phase II study (MM-002) on the candidate. Furthermore, in Dec 2012, the
company announced encouraging data from the international phase III study
(MM-003), which evaluated Pomalyst as a combination therapy in relapsed
refractory multiple myeloma patients. The patients did not respond favorably
to Takeda's Velcade and Celgene's Revlimid, administered either as a
monotherapy or in conjunction with other therapy/ies. Data revealed that there
was significant improvement in progression-free survival and overall survival
in patients in the Pomalyst arm.
The approval of Pomalyst has further boosted Celgene's already strong oncology
product portfolio and should augment its top line as the MM market offers
significant commercial potential. We remind investors that the FDA had
approved another drug in the MM space last year – Onyx Pharmaceuticals, Inc.'s
Celgene, a biopharmaceutical company, currently carries a Zacks Rank #3
(Hold). Biopharma stocks, such as Medivation, Inc. (Nasdaq:MDVN) and
Targacept, Inc. (Nasdaq:TRGT) presently appear to be more attractive. While
Medivation carries a Zacks Rank #2 (Buy), Targacept carries a Zacks Rank #1
Update on Lilly's Tabalumab
Eli Lilly and Company (NYSE:LLY) recently provided an update on its rheumatoid
arthritis candidate, tabalumab. The company said that it intends to
discontinue its phase III rheumatoid arthritis program for the candidate.
However, Eli Lilly will continue developing tabalumab for systemic lupus
erythematosus. ILLUMINATE, the phase III program for the lupus indication,
will continue as planned.
We note Eli Lilly had scrapped a pivotal phase III study being conducted with
tabalumab in Dec 2012. Tabalumab, an anti-BAFF monoclonal antibody, was being
evaluated in the FLEX-M study for the treatment of moderate-to-severe
rheumatoid arthritis in patients who have not responded adequately to
The company's decision to halt the study was based on a planned interim
futility analysis which showed insufficient efficacy.
Given the disappointing FLEX-M findings, Eli Lilly conducted an interim
futility analysis of FLEX-V, another study being conducted with tabalumab on
patients suffering from moderate-to-severe rheumatoid arthritis who did not
respond sufficiently to one or more tumor necrosis factor (TNF) inhibitors.
Based on the interim futility analyses of these studies, Eli Lilly decided to
discontinue the development of tabalumab in the ongoing rheumatoid arthritis
Eli Lilly expects to record a charge of about $50 million in the first quarter
of 2013 due to the discontinuation of the rheumatoid arthritis program.
Want more from Zacks Equity Research? Subscribe to the free Profit from the
Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative
analysis to help investors know what stocks to buy and which to sell for the
Continuous coverage is provided for a universe of 1,150 publicly traded
stocks. Our analysts are organized by industry which gives them keen insights
to developments that affect company profits and stock performance.
Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the
latest analysis from Zacks Equity Research. Subscribe to this free newsletter
Zacks.com is a property of Zacks Investment Research, Inc., which was formed
in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in
stock market data that would lead to superior investment results. Amongst his
many accomplishments was the formation of his proprietary stock picking
system; the Zacks Rank, which continues to outperform the market by nearly a 3
to 1 margin. The best way to unlock the profitable stock recommendations and
market insights of Zacks Investment Research is through our free daily email
newsletter; Profit from the Pros. In short, it's your steady flow of
Profitable ideas GUARANTEED to be worth your time! Register for your free
subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance
numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook:
Disclaimer: Past performance does not guarantee future results. Investors
should always research companies and securities before making any investments.
Nothing herein should be construed as an offer or solicitation to buy or sell
Zacks Investment Research
800-767-3771 ext. 9339
SOURCE Zacks Investment Research, Inc.
Press spacebar to pause and continue. Press esc to stop.