On June 1, AbbVie Inc (NYSE:ABBV) released interim results from a Phase Ib clinical trial of ABT-199/GDC-0199, an investigational B-cell lymphoma 2, BCL-2, selective inhibitor, in combination with rituximab. Results showed an overall response rate, ORR, of 84%, in patients with relapsed/refractory chronic lymphocytic leukemia, CLL, the most common leukemia in the United States. These results were presented at the 50th Annual Meeting of the American Society of Clinical Oncology, ASCO, May 30 – June 3 in Chicago. Of the 25 evaluable patients, 36% achieved either a complete response or complete response with incomplete blood count recovery, CR/CRi, and 48% achieved a partial response, PR, as of April 16. Additionally, of the patients who achieved a CR, 75% were identified as minimal residual disease,MRD, negative, indicating the detection of zero leukemic cells. AbbVie Inc (NYSE:ABBV) net profit margin is 21.80% and weekly performance is 1.42%. On last trading day company shares ended up $55.10. Analysts mean target price for the company is $55.23. AbbVie Inc (NYSE:ABBV) distance from 50-day simple moving average (SMA50) is 6.88%.
On Wall Street, financial engineering masquerades as vision. When it works, you get to be called the Oracle of somewhere or other. If it works for only a short period, you can still get rich. What a country. Which brings us to one of the biggest takeover battles in an age: Valeant Pharmaceuticals Intl Inc (NYSE:VRX)’ unsolicited bid for Allergan. Valeant Pharmaceuticals Intl Inc (NYSE:VRX) shares fell -0.69% in last trading session and ended the day on $127.46. VRX Gross Margin is 67.80% and its return on assets is -3.30%. Valeant Pharmaceuticals Intl Inc (NYSE:VRX) quarterly performance is -9.84%.
On June 4, Medicare, the U.S. health plan for older Americans, will cover the cost of screening for hepatitis C, a decision that may further open the government’s wallet for Gilead Sciences, Inc. (NASDAQ:GILD)’s $84,000 cure for the disease. Adults at high risk for infection, including those who inject illegal drugs or had a blood transfusion before 1992, are eligible, as is anyone in Medicare ages 49 to 69, the agency said today in a memo. A hepatitis C diagnosis could lead to further use of Gilead’s Sovaldi, which costs $84,000 for a 12-week course of treatment and cures the disease. Gilead Sciences, Inc. (NASDAQ:GILD) shares fell -0.50% in last trading session and ended the day on $82.39. GILD Gross Margin is 77.80% and its return on assets is 19.10%. Gilead Sciences, Inc. (NASDAQ:GILD) quarterly performance is 3.53%.
On June 2, 2014, Galena Biopharma Inc (NASDAQ:GALE) announced that data from the Company’s Phase 1 study with GALE-301, or Folate Binding Protein (FBP), was presented at the American Society of Clinical Oncology (ASCO) 50th Annual Meeting. The poster entitled, “Comparison of recurrent and nonrecurrent ovarian and uterine cancer patients undergoing adjuvant folate receptor vaccine therapy,” was presented during the Gynecologic Cancer General Poster Session. Galena Biopharma Inc (NASDAQ:GALE) shares moved up 0.42% in last trading session and was closed at $2.41, while trading in range of $2.36 – $2.45. Galena Biopharma Inc (NASDAQ:GALE) year to date (YTD) performance is -51.41%.
Shares of MannKind Corporation (NASDAQ:MNKD) hit a 52-week high of $11.11 during the trading session on Jun 5. MannKind subsequently closed the trading session at $10.04. MannKind Corporation (NASDAQ:MNKD) ended the last trading day at $10.28. Company weekly volatility is calculated as 7.76% and price to cash ratio as 6.62. MannKind Corporation (NASDAQ:MNKD) showed a positive weekly performance of 15.51%.
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