Human Genome Sciences, Inc. (HGSI) reported third quarter net loss of $49 million or 32 cents per share, in-line with the Zacks Consensus Estimate. The company reported a net loss of $74.2 million or 50 cents in the year ago quarter. The lower net loss for the quarter was primarily attributable to increased revenues from manufacturing and development services and lower operating expenses. Revenues for the quarter came in at $18.834 million which reflected an increase of 60.6%. Revenues were inclusive of $8.7 million from manufacturing and development services, $8.9 million recognized under the company’s agreement with Novartis (NVS) pertaining to hepatitis C drug Zalbin, and $1.0 million recognized under the agreement with GlaxoSmithKline plc (GSK) pertaining to the potential blockbuster lupus drug Benlysta. Research & development spend declined 36% to $34.8 million in the quarter. Selling general & administrative expenses declined 6.3% to ...

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Amylin (NasdaqGS:AMLN) based in San Diego, said late Sunday it will receive $75 million upfront from Takeda and said future payments for development and achieving commercial milestones could top $1 billion. The deal includes two potential weight-loss treatments, a pramlintide-metreleptin combination and davalintide. Both potential drugs are in midstage, or Phase II, clinical development. In July, Amylin said pramlintide-metreleptin prompted an average weight loss of 22 pounds, or 11 percent of patients’ body weight, during a midstage study.

Human Genome Sciences Inc (NasdaqGM:HGSI) and GlaxoSmithKline (NYSE: GSK) said Monday heir experimental

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Earlier this week, Human Genome Sciences Inc. (HGSI) announced that its eagerly anticipated lupus drug Benlysta is expected to cost patients about $20,000 a year. The actual price might also be slightly more than the figure. Consequently, the drug could reach $1 billion in annual sales if taken by 50,000 patients, which represents a small fraction of those affected by the disease. In July 2009, Human Genome Sciences and GlaxoSmithKline PLC (GSK) announced that Benlysta met the primary endpoint in BLISS-52, the first of two pivotal phase III trials in patients with serologically active systemic lupus erythematosus (SLE). In the placebo-controlled BLISS-52 study, the results showed that Benlysta plus standard of care achieved a clinically and statistically significant improvement in patient response rate at Week 52 compared with standard of care alone. Study results also showed that Benlysta was generally well tolerated, with adverse ...

Yesterday, ZymoGenetics Inc (ZGEN) announced that its rheumatoid arthritis drug Atacicept, failed to reach its goal of controlling the disease in mid-stage studies. The data did not support a direct move to late-stage trials. However, the study confirmed the biological effect of Atacicept, and did not display any unexpected side effects. Atacicept is being developed in collaboration with Merck Serono S.A. (formerly Serono S.A.), an affiliate of Merck KGaA, Darmstadt, Germany.  Under this agreement, ZymoGenetics will co-promote Atacicept with Merck Serono in the US, while Merck Serono will promote Atacicept ex-US. In view of the disappointing results, Merck Serono has not decided whether the late-stage trials will be conducted. Atacicept is also being developed for other indications such as lupus and multiple sclerosis. As a reminder, Recombinant human thrombin (rhThrombin, Recothrom) was approved by the U.S. Food and Drug Administration (FDA) on January 17, ...

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Thursday August 27, 2009

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Fujitsu Microelectronics Limited and Taiwan Semiconductor Manufacturing Company, Ltd. (NYSE: TSM) today announced that they have agreed to collaborate on 28-nanometer (nm) process technology targeted for foundry production of Fujitsu Microelectronics’ 28nm logic ICs and to jointly develop an enhanced 28nm high-performance process technology by utilizing TSMC’s advanced technology platform. Previously, both companies announced that Fujitsu Microelectronics will collaborate with TSMC on 40nm production. This will extend Fujitsu Microelectronics’ 40nm collaboration with TSMC and covers joint development of an optimized 28nm high-performance process technology. Initial 28nm samples are expected to ship toward the end of 2010.

UCB and Immunomedics (Nasdaq:IMMU) announced

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div style="text-align: justify;"Just got pinged:br /br /span style="font-weight: bold;"Leerink out VERY positive again ../spanWe believe HGSI is poised to become the next large cap biotech... GILD had the same market cap in January 2000. Since then, the clear winner has been GILD as it became the second largest biotechnology company. GILD attained this status by cornering the HIV market in a manner similar to how HGSI could now potentially corner the lupus and other markets...br /br /We believe an acquisition could be the greatest impediment to HGSI becoming the next big biotech. If GSK performs an analysis similar to that outlined above, we believe they will realize the incremental 50% rights to Benlysta is likely worth much more than HGSI's ~$2B market cap...Reits Outperform and $30 tgt.br /br /span style="color: rgb(255, 0, 0);"Notablecalls:/span Stock should fly on this!/divdiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/29297569-4390464094838205086?l=notablecalls.blogspot.com'//div

span style="font-size:100%;"Leerink Swann is out very positive on /spanspan style="font-weight: bold;font-size:100%;" Human Genome Sciences (NASDAQ:HGSI) /spanspan style="font-size:100%;"raising their 12-month target on the name to $30 (prev $16).br //spandiv style="text-align: justify;"span style="font-size:100%;"br //spanspan style="font-weight: bold;font-size:100%;" Bottom Line:/spanspan style="font-size:100%;" Leerink's statistical power analysis confirms an ~85% likelihood of success for BLISS-76 data in November. They considered the major factors which could influence p-value via effect size and variability in the context of past results for Benlysta in BLISS-52 and Phase II. Reiterate Outperform, raising 12-month fair value to $30 from $16.br /br //spanspan style="font-size:100%;"span style="font-weight: bold;"As shown by the tables within, 67 of the 80 (84%) most likely combinations of response rates and standard deviation included in Leerink's sensitivity analysis would produce statistically significant (p0.05)./span span style="font-size:100%;"They believe BLISS-76 has been derisked after BLISS-52 results since the major difference between the two trials is geography, and the patient population in BLISS-76 (US ...

div style="text-align: justify;"ThinkEquity is upgrading span style="font-weight: bold;"Human Genome Sciences (NASDAQ:HGSI) /spanto Buy from Accumulate and raising their rating to $26 (prev. $18).br /br /span style="font-weight: bold;"Firm notes they spent the past few days evaluating their model for Benlysta and conclude that their estimates are just too conservative. /spanThey believe BLISS-76 will, more likely than not, confirm the results seen in BLISS-52. Based on a revised model, they raise their price target to $26 per share, which justifies a raise of rating to Buy.br /br /span style="font-weight: bold;"ThinkEquity revised their model after speaking with several people in the industry and the company, which has done extensive primary research./span This analysis points to the fact that in the U.S., there are approximately 325,000 patients treated for some form of Lupus. They believe that at least two-thirds of that group are candidates for treatment with a biologic therapy, or approximately 200,000 ...

Human Genome Sciences Inc. (HGSI) announced that it plans to raise approximately $310 million as net proceeds by selling 23.2 million common shares at $14 per share. This reflects an expansion of the initial public offering where the company had planned to sell 18 million shares in public.   The Rockville, Maryland-based company further stated that the underwriters would be given a month to buy up to an additional 3.48 million common shares to cover any over-allotments. The offering, expected to close on August 3, will lead to considerable dilution in the shareholder base.   Human Genome intends to use the proceeds for general corporate and acquisition or investment purposes. Additionally, this funding arrangement is also expected to provide cash for further development of the pipeline.   As a reminder, Human Genome has a robust and diversified pipeline which includes drugs to treat hepatitis C, lupus, anthrax, cancer, ...

This week, biopharmaceutical company Human Genome Sciences Inc. (HGSI) announced the commencement of an underwritten public offering of up to 18 million shares of its common stock. The Maryland-based company stated that the underwriters would be given a month’s period to buy up to an additional 2.7 million common shares. While the company should be able to raise funds sufficient to finance operations through this operation, the issuance of shares will lead to considerable dilution in the shareholder base. The company intends to use the proceeds for general corporate and acquisition or investment purposes. Additionally, this funding arrangement is also expected to provide cash for further development of the pipeline.

As a reminder, Human Genome has a robust and diversified pipeline, which includes drugs to treat hepatitis C, lupus, anthrax disease, cancer, rheumatoid arthritis and HIV/AIDS. The company has recently filed a Biologics License Application (BLA) for ABthrax for

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