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Altimmune, Inc. (ALT) Director Purchases $46,557.90 in Stock
Posted by Mickey Rousseau on Dec 5th, 2017 // No Comments
Altimmune logoAltimmune, Inc. (NYSEARCA:ALT) Director Derace L. Schaffer bought 26,010 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were purchased at an average cost of $1.79 per share, for a total transaction of $46,557.90. Following the completion of the transaction, the director now owns 300,373 shares of the company’s stock, valued at $537,667.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Separately, Piper Jaffray Companies assumed coverage on Altimmune in a report on Monday, October 9th. They set an “overweight” rating and a $6.00 price objective on the stock.
Insider Buying and Selling by Quarter for Altimmune (NYSEARCA:ALT)
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https://www.dispatchtribunal.com/2017/12/05/altimmune-inc-alt-director-purchases-46557-90-in-stock.html
ALT
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Very strong day, higher than average volume on a day when biotech was down. Big candle is a fooler. I got more shares at $1.65 and saw very few at less. Only 100 shares sold at $1.61 as far as I could see. Catalyst within 3 weeks.
ALT
In CLF @ $6.20. This should be near the short term low although not a great chart. Hardly any positive indicators:
https://www.chartmill.com/stockcharts.php?ticker=clf&o=53109&v=5
CLF
In ALT @ $1.85. Good fundamentals, trading at about half of book value ($3.14) , way oversold:
Fundamentals:
https://www.chartmill.com/stockcharts.php?ticker=alt&o=53109&v=14
ALT
I believe that is a different study. Subsequently I did find reference to the PR'd article, but not at the Molecular Therapy website:
ORIGINAL ARTICLESwitch to Standard View
Synergy of immune checkpoint blockade with a novel synthetic consensus DNA vaccine targeting TERT
Elizabeth K. Duperret, Megan C. Wise, Aspen Trautz, Daniel O. Villarreal, Bernadette Ferraro, Jewell Walters, Jian Yan, Amir Khan, Emma Masteller, Laurent Humeau, David B. Weiner'Correspondence information about the author David B. WeinerEmail the author David B. Weiner
Publication stage: In Press Accepted Manuscript
DOI: http://dx.doi.org/10.1016/j.ymthe.2017.11.010
showArticle Info
PDF (2 MB)
Abstract
Immune checkpoint blockade antibodies are setting a new standard of care for cancer patients. It is therefore important to assess any new immune-based therapies in the context of immune checkpoint blockade. Here, we evaluate impact of combining a synthetic consensus TERT DNA vaccine that has improved capacity to break tolerance with immune checkpoint inhibitors. We observed that blockade of CTLA-4, or, to a lesser extent, PD-1, synergized with TERT vaccine generating more robust anti-tumor activity compared to checkpoint alone or vaccine alone. Despite this anti-tumor synergy, none of these immune checkpoint therapies showed improvement in TERT antigen-specific immune responses in tumor bearing mice. aCTLA-4 therapy enhanced the frequency of T-bet+/CD44+ effector CD8+ T cells within the tumor, and decreased the frequency of regulatory T cells within the tumor but not the peripheral blood. CTLA-4 blockade synergized more with TERT DNA vaccine than Treg depletion, suggesting that the effect of CTLA-4 blockade is likely due more to the expansion of effector T cells in the tumor rather than the reduction in Tregs. These results suggest that immune checkpoint inhibitors function to alter the immune regulatory environment to synergize with DNA vaccines, rather than boosting antigen-specific responses at the site of vaccination.
Keywords:
CTLA4, DNA vaccine, immune tolerance, PD1, TERT
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http://www.cell.com/molecular-therapy-family/molecular-therapy/abstract/S1525-0016(17)30569-5
I agree INO's website could be a lot better with organizing publications and linking to clinical trials.
INO
Biotech Pullback Makes Bargains Out Of Alexion, Flexion, Clovis, Tesaro And Incyte
Ken Kam , CONTRIBUTOR
Opinions expressed by Forbes Contributors are their own.
the best time to invest in biotech stocks is after the short-term speculators have sold.
After a very strong year, the biotech sector has suffered an 8% pullback over the past five weeks. Todd Hagopian, whose biotech portfolio is up 38% this year, believes that the recent pullback has created bargains in Alexion, Flexion, Clovis, Tesaro and Incyte.
Ken Kam: Your fund is up 38% this year, why do you think there is more room to grow in the sector this year?
Todd Hagopian: While the major biotechs have seen a relatively small pullback, some of the clinical stage, or one-drug companies, have pulled back extremely hard as the acquisition season has seemingly ended.
Nothing in the industry has changed, there will still be less regulation, more investment, and more innovation going forward.
The acquisitions will pick back up, and these premiums that have dissipated over the past couple months will return. This portion of the biotech sector is opening up some great bargains at the moment.
Kam: What did you look for when identifying your five biggest bargains in the sector for this article?
Hagopian: I looked at five sets of criteria:
Is the stock at least 20% off of its high?
Is the stock at least 30% off of their average target price?
Was there a revenue-based justification for pull-back?
Is an acquisition, or rumors of one, likely in the next year?
Is there is at least 50% growth potential in the next year?
Kam: Tell me about the five stocks you picked as this season’s biggest bargains?
Hagopian: The companies I chose are Alexion Pharmaceuticals (ALXN), Flexion Therapeutics (FLXN), Clovis Oncology (CLVS), Tesaro Inc (TSRO), and Incyte Corporation (INCY).
(content omitted)
Incyte
The stock is down based on buyout rumors that didn't materialize. However, this stock is part of the IDO inhibitor class, which is another growth area in immunotherapy. On top of that, INCY already has revenue of over $1B/year, offering immediate benefits to potential acquirers, beyond their valuable immunotherapy pipeline.
The bottom line is that this stock will likely be one of the next major acquisition targets in the industry, and should see $150 again over the next 12 months, offering a potential 50% return over that time period.
Kam: How are you using these five highlighted stocks in your portfolio?
Hagopian: As Biotechs have slipped over the past couple of months, I have retooled my portfolios to take advantage of what I view are the biggest bargains in the sector. These five stocks will make up approximately 35% to 45% of my portfolio moving forward.
My Take: Often, the best time to invest in biotech stocks is after the short-term speculators have sold. In the past five weeks, there have been no clinical failures with these five companies. What has changed is that the prospects for a large, quick, capital gain from a buyout decreased. Todd is confident that takeover speculation will be back and is using the pullback to buy these five stocks. I agree that the pullback has created a good entry point for those with investment horizons of more than one year.
Investing in biotech requires hours of research, combing through clinical trial data, looking at competitive drugs, analyzing the analysts, and tracking the ongoing catalysts of the stocks involved.
Todd has shown us how a good manager can apply intelligence, skill, and diligence so the outcome is not just a game of chance. He started his Biotech fund at Marketocracy in March, 2011. Since then, his returns have averaged 26.58%, which compares nicely to the S&P 500’s 12.87% return over the same period. Year-to-date, Todd’s Biotech fund is up 38.00%, versus 16.91% for the S&P, and 17.03% for the Nasdaq iShares Biotech ETF (IBB). Over the past five years, Todd has outperformed the #1 equity mutual fund manager in Morningstar's database.
Todd's Biotech fund is not a mutual fund. It is an investment option for clients of our separately managed account program. Here is Todd’s track record. For a full review of his 20+ articles on the market, please visit his profile. For information about investing with Todd, click here.
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https://www.forbes.com/sites/kenkam/2017/11/28/biotech-pullback-makes-bargains-out-of-alexion-flexion-clovis-tesaro-and-incyte/?utm_source=yahoo&utm_medium=partner&utm_campaign=yahootix&partner=yahootix&yptr=yahoo#714ac7ed333d
INCY
You know I sold early, but not at the highest. I'm thinking that the release was too general, i.e. not even a level of significance. The release stated the details were in the journal article, but I searched and didn't find it in the Nov 1st or 24th Molecular Therapy tables of content. Some might have perceived the INO PR as fluff. Also, we weren't helped by the down biotech day. Just my take.
INO
Benzinga's Top Upgrades, Downgrades For November 27, 2017
Lisa Levin , Benzinga Staff Writer
November 27, 2017 9:05am
Top Upgrades
Bank of America upgraded Ciena Corporation (CIEN 1.95%) from Neutral to Buy. Ciena shares gained 0.67 percent to close at $20.98 on Friday.
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CIEN
Sold @ $4.80, far too soon, as surged much higher. News more impactful than the chart and was playing the chart. Look to re-enter, much potential here.
INO
Inovio Pharmaceuticals SynCon® TERT Cancer Immunotherapy Combined with Checkpoint Inhibitor Synergistically Shrinks Tumor and Improves Survival in Preclinical Tumor Model
By GlobeNewswire, November 27, 2017, 08:00:00 AM EDT
PLYMOUTH MEETING, Pa., Nov. 27, 2017 (GLOBE NEWSWIRE) --
Inovio Pharmaceuticals, Inc. (NASDAQ:INO) demonstrated the synergistic effect of combining Inovio's TERT (telomerase reverse transcriptase) cancer immunotherapy in combination with a checkpoint inhibitor in preclinical tumor model. The combination therapies resulted in robust anti-tumor effects and showed significant improvement in survival compared to either therapy alone. Preclinical TERT study results were detailed in a paper published in the most recent edition of Molecular Therapy entitled, "Synergy of Immune Checkpoint Blockade with a Novel Synthetic Consensus DNA Vaccine Targeting TERT," by Inovio and its collaborators at the Wistar Institute.
Dr. J. Joseph Kim, President and CEO, said, "The synergistic anti-tumor effect observed in this published preclinical study provides Inovio with added confidence in the company's recently initiated efficacy studies combining checkpoint inhibitors and INO-5401, Inovio's cancer immunotherapy which includes three of Inovio's top SynCon® cancer antigens - hTERT, WT1, and PSMA, which are over-expressed in multiple tumor types. MedImmune, Regeneron and Genentech have all turned to Inovio's DNA-based immunotherapy products to evaluate increased response rates in combination with their checkpoint inhibitors. We look forward in sharing combination data from these efficacy trials when they become available."
Inovio is currently evaluating its human TERT (hTERT) immunotherapy, INO-1400, as a mono-therapy, in nine different solid tumors including breast, lung and pancreatic cancers. A recent poster presentation at the SITC annual conference demonstrated that INO-1400 generated hTERT-specific T cell immune responses in patients. Furthermore, hTERT along with WT1 and PSMA antigens also comprise the new multi-antigen immunotherapy INO-5401, which is being evaluated in two separate phase 1/2 efficacy trials in combinations PD-L1 (with Genentech) and PD-1 (with Regeneron) checkpoint inhibitors in metastatic bladder cancer and in newly diagnosed Glioblastoma multiforme (GBM), respectively.
INO-5401 is being tested in combination with PD-1/PD-L1 inhibitors to bring about better anti-tumor effects in metastatic bladder and GBM. Nearly 430,000 new cases of urinary bladder cancer are diagnosed each year worldwide; it accounts for about 165,000 deaths worldwide annually. Advanced unresectable or metastatic UC remains a high unmet medical need as survival remains poor for most patients. The approval of several checkpoint inhibitors for advanced unresectable or metastatic UC has improved response and survival rates for some patients, however, the majority (~80%) of patients do not experience meaningful clinical responses to checkpoint inhibitor monotherapy. GBM is the most aggressive brain cancer and its prognosis is extremely poor. The median overall survival for patients receiving standard of care therapy is approximately 15 months and the average five-year survival rate is less than three percent. Clinical responses to checkpoint inhibitors in GBM patients have been poor overall (ORR<10%). Both of these INO-5401 combination studies are designed to test the synergistic anti-tumor effects of the combination therapies.
Significant early checkpoint combination effects were seen in a clinical study of another Inovio T-cell generating product, INO-3112 (licensed to MedImmune and now called MEDI0457). In a phase 1 study of MEDI0457 in 22 HPV-positive patients with squamous cell carcinoma of the head and neck, Inovio has previously demonstrated that this cancer immunotherapy generated robust antigen-specific CD8+ killer T cell responses measured in both tumor tissue and peripheral blood. One patient who initially displayed a slight increase in T cell immune responses developed progressive disease at 11 months into the study. The patient subsequently received nivolumab, a PD-1 checkpoint inhibitor and sustained complete response after only four doses of nivolumab. This patient continues on therapy with no evidence of disease, 16 months after initiation of nivolumab. Medimmune is currently conducting a separate phase 1/2 efficacy trial combining its PD-L1 inhibitor (durvalumab) with MEDI0457 in 50 metastatic HPV-associated head and neck cancer patients to evaluate the clinical efficacy of the combination treatment. Head and neck cancer caused by HPV is the fastest growing cancer in men today, and the checkpoint inhibitor therapies alone have only been positive in limited percentage (ORR<20%) of treated patients.
This published paper highlights the potential benefits of DNA immunotherapy/immune checkpoint blockade combinations using PD-1 or CTLA4 checkpoint inhibitors in patients that respond poorly to immune checkpoint blockade alone, and allow for better rational design of combination therapies. Furthermore, these results suggest that this synergistic anti-tumor effect is due to the effect of immune checkpoint blockade on expanding effector T cells generated from the TERT therapy in the tumor microenvironment rather than boosting vaccine responses in the periphery.
About Inovio Pharmaceuticals, Inc.
Inovio is taking immunotherapy to the next level in the fight against cancer and infectious diseases. We are the only immunotherapy company that has reported generating T cells in vivo in high quantity that are fully functional and whose killing capacity correlates with relevant clinical outcomes with a favorable safety profile. With an expanding portfolio of immune therapies, the company is advancing a growing preclinical and clinical stage product pipeline. Partners and collaborators include MedImmune, Regeneron, Genentech, The Wistar Institute, University of Pennsylvania, DARPA, GeneOne Life Science, Plumbline Life Sciences, ApolloBio Corporation, Drexel University, NIH, HIV Vaccines Trial Network, National Cancer Institute, U.S. Military HIV Research Program, and Laval University. For more information, visit www.inovio.com.
This press release contains certain forward-looking statements relating to our business, including our plans to develop electroporation-based drug and gene delivery technologies and DNA vaccines, our expectations regarding our research and development programs, including the planned initiation and conduct of clinical trials and the availability and timing of data from those trials, and the sufficiency of our capital resources. Actual events or results may differ from the expectations set forth herein as a result of a number of factors, including uncertainties inherent in pre-clinical studies, clinical trials and product development programs, the availability of funding to support continuing research and studies in an effort to prove safety and efficacy of electroporation technology as a delivery mechanism or develop viable DNA vaccines, our ability to support our pipeline of SynCon® active immunotherapy and vaccine products, the ability of our collaborators to attain development and commercial milestones for products we license and product sales that will enable us to receive future payments and royalties, the adequacy of our capital resources, the availability or potential availability of alternative therapies or treatments for the conditions targeted by the company or its collaborators, including alternatives that may be more efficacious or cost effective than any therapy or treatment that the company and its collaborators hope to develop, issues involving product liability, issues involving patents and whether they or licenses to them will provide the company with meaningful protection from others using the covered technologies, whether such proprietary rights are enforceable or defensible or infringe or allegedly infringe on rights of others or can withstand claims of invalidity and whether the company can finance or devote other significant resources that may be necessary to prosecute, protect or defend them, the level of corporate expenditures, assessments of the company's technology by potential corporate or other partners or collaborators, capital market conditions, the impact of government healthcare proposals and other factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2016, our Form 10-Q for the period ended September 30, 2017, and other regulatory filings we make from time to time. There can be no assurance that any product candidate in Inovio's pipeline will be successfully developed, manufactured or commercialized, that final results of clinical trials will be supportive of regulatory approvals required to market licensed products, or that any of the forward-looking information provided herein will be proven accurate. Forward-looking statements speak only as of the date of this release, and Inovio undertakes no obligation to update or revise these statements, except as may be required by law.
CONTACTS:
Investors/Media: Jeff Richardson, Inovio Pharmaceuticals, 267-440-4211, jrichardson@inovio.com
Source: Inovio Pharmaceuticals, Inc.
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http://www.nasdaq.com/press-release/inovio-pharmaceuticals-syncon-tert-cancer-immunotherapycombined-with-checkpoint-inhibitor-20171127-00397
INO
I believe you are correct, but I surely lack the knowledge to discuss in detail the mechanisms. What impresses me about INO is the pipeline and all of the indications as well as the large number of partners:
https://www.inovio.com/product-pipeline
NKTR's November run has been astounding, hopefully we are next.
INO
Sure doesn't bode well. Looks like the pps hasn't been punished today but light day with approx 1/3 volume so far. I suppose it goes on the back burner for a while.
BMY
In Incyte for the 1st time @ $99.25. Too high as the impact of RBC downgrade was more than anticipated. Baker Bro 2nd largest holding, in Zacks Biotech portfolio, and Brad Lancor's Cancer ETF -- much potential.
Analysts' Consensus Rating for Incyte Corporation (NASDAQ:INCY) (How are Consensus Ratings Calculated?)
Ratings Breakdown: 0 Sell Ratings, 4 Hold Ratings, 17 Buy Ratings, 0 Strong Buy Ratings
Consensus Rating: Buy (Score: 2.81)
Consensus Price Target: $145.63 (47.18% upside)
https://www.marketbeat.com/stocks/NASDAQ/INCY/
INCY
Hot Stock Evaluation – Inovio Pharmaceuticals, Inc. (NASDAQ: INO)
November 17, 2017 Hot Stocks Point Staff 0 Comment Inc, INO, Inovio Pharmaceuticals, NASDAQ: INO
US stocks rose and the dollar edged higher against a basket of major currencies on Thursday after the US House of Representatives passed its version of a tax overhaul bill.
Earnings-related gains in Wal-Mart and Cisco also boosted stocks, and the MSCI index of world stocks rose after 5 successive daily losses.
The Dow Jones Industrial Average and the S&P 500 chalked up their biggest percentage gains in over 2 months.
The House approved a broad package of tax cuts affecting businesses, individuals and families, moving Republicans and President Donald Trump an important step closer to the biggest tax code overhaul in a generation.
The legislative battle now shifts to the Senate, where the Republican majority is much slimmer. Republicans can lose no more than 2 Senate votes and at least 2 GOP senators have already spoken against the Senate version of the bill. (Source: ABS-CBN News)
The dollar index, which hit 93.813 on Wednesday, it’s lowest since Oct. 20, was also supported by a general improvement in risk appetite across financial markets. The index was last up 0.1 percent.
The Dow rose 187.08 points, or 0.8 percent, to 23,458.36, the S&P 500 gained 21.02 points, or 0.82 percent, to 2,585.64 and the Nasdaq Composite added 87.08 points, or 1.3 percent, to 6,793.29.
Major News: Amazon.com, Inc. (AMZN) stock inclined 0.94% to trade at $1137.29. Amazon.com (AMZN.O) will exclusively stream 37 top men’s tennis tournaments from 2019 to its Amazon Prime Video subscribers in Britain and Ireland after it won the ATP broadcast rights from pay-TV group Sky (SKYB.L).
The deal underlines Amazon’s ambition to challenge traditional pay-TV providers by using exclusive sports and entertainment content to attract people to its video service.
Amazon will also be the pay-TV partner for the season-ending Nitto ATP Finals at The O2 in London, and from 2018 the Queen’s Club Championships and the Eastbourne International, ATP said. (Source: Reuters)
A total volume of 2,196,237 shares was traded. The Company’s shares have inclined 14.07% in the past month, 52.35% in the last twelve months, and 51.66% on an YTD basis.
Stock to Watch: Inovio Pharmaceuticals, Inc. (NASDAQ: INO)
On Thursday, Shares of Inovio Pharmaceuticals, Inc. (NASDAQ: INO) expressed a change of 3.57% and closed its trade at $4.64. The stock exchanged hands with 1,045,082 numbers of shares compared to its average daily volume of 1.21M shares. When trading is lighter than usual, it is said to be “thin.” When there’s more trading than usual, it is called “heavy trading.” Volume is the basic fuel of the market since stocks move up or down in price only when shares are trading hands.
The market capitalization (Stock Price Multiply by Total Number of Outstanding Shares) for the company is reported at $391.24M. The company has its outstanding shares of 84.32M. Outstanding shares refer to a company’s stock presently held by all its shareholders, counting share blocks held by institutional shareholders and restricted shares owned by the company’s officers and insiders. After a recent check, it is observed that the insiders for the firm currently own 3.60% shares. There has been an observed change of -0.26% in the ownership of the shares in the past six months. However, the institutional investors are observed to own 25.40% of the total shares. During last 3 month period, 0.52% of total institutional ownership has changed in the company shares.
What Historical Figures Say About Inovio Pharmaceuticals, Inc. (NASDAQ: INO)?
Before trading, trader, investor or shareholder must have an eye on stock’s historical performance. Analysts review historical return data when trying to predict future returns or to estimate how a security might react to a particular situation, such as a drop in consumer demand. Historical returns can also be useful when estimating where future points of data may fall in terms of standard deviations.
Analyzing historical data can give some perception of how a security or market has reacted to various different variables, from regular economic cycles to sudden world events. Shareholders looking to interpret historical returns should keep one caveat in mind: you can’t assume that the future will be like the past. The older the historical return data is, the more likely it is to be less useful when predicting future returns. Historical return data for INO stock is described below:
Looking into last 5 trades, the stock observed a return of almost 4.74%. However, -26.58% over the last one month, -14.86% for the last quarter and year to date performance stands at -33.14%.
Important Technical Indicators to Consider:
ATR value of the company was 0.26 and Relative Strength Index (RSI) was 33.85. The stock volatility for the week was 6.72% while for the month was 4.84%. The stock was trading at a distance of -52.94% from its 52-week highs and stands 10.48% away from its 52-week lows. INO’s latest closing price was -28.76% away from the average price of 200 days while it maintained a distance of -21.79% from the 50 Day Moving Average and -14.86% away compared to its SMA 20.
Analysts’ Suggestions in the Limelight:
Analysts have given a mean recommendation of 1.70 on this stock (A rating of less than 2 means buy, “hold” within the 3 range, “sell” within the 4 range, and “strong sell” within the 5 range). The mean target price as estimated by the analysts for the company has been recorded at $11.83.
Disclaimer: Any news, report, research, and analysis published on Hotstockspoint.com are only for information purposes. Hot Stocks Point (HSP) makes sure to keep the information up to date and correct, but we didn’t suggest or recommend buying or selling of any financial instrument unless that information is subsequently confirmed on your own. Information in this release is fact checked and produced by competent editors of Hot Stocks Point; however, human error can exist.
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http://www.hotstockspoint.com/2017/11/hot-stock-evaluation-inovio-pharmaceuticals-inc-nasdaq-ino/
I don't know the website but this article could be contributing to what has started as a good day.
INO
Q3 2017 Inovio Pharmaceuticals Inc Earnings Call
BLUE BELL Nov 17, 2017 (Thomson StreetEvents) -- Edited Transcript of Inovio Pharmaceuticals Inc earnings conference call or presentation Wednesday, November 8, 2017 at 9:30:00pm GMT
TEXT version of Transcript
================================================================================
Corporate Participants
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* J. Joseph Kim
Inovio Pharmaceuticals, Inc. - CEO, President & Director
* Jeffrey C. Richardson
Inovio Pharmaceuticals, Inc. - VP of Strategic Relations
* Peter D. Kies
Inovio Pharmaceuticals, Inc. - CFO
================================================================================
Conference Call Participants
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* Charles Cliff Duncan
Piper Jaffray Companies, Research Division - MD and Senior Research Analyst
* Matthew Joseph Eckler
RBC Capital Markets, LLC, Research Division - Analyst
* Yi Chen
H.C. Wainwright & Co, LLC, Research Division - MD of Equity Research & Senior Healthcare Analyst
================================================================================
Presentation
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Operator [1]
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Greetings, and welcome to the Inovio Pharmaceuticals, Inc. Third Quarter 2017 Financial Results Conference Call. (Operator Instructions) As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host, Mr. Jeff Richardson. Thank you. Mr. Richardson, you may begin.
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TO LONG TO POST, BUT THIS SEGMENT IS INTERESTING:
"Let me remind you that Inovio was, and remains, the first organization in the world to report positive Zika vaccine data from a clinical study. We've also posted similar encouraging HIV, Ebola and MERS vaccine data consistently posting greater than 90% immune response rates across the vaccine trials, all rising from our product development engine or DNA vaccine platform.
A second Phase I Zika vaccine study, now fully enrolled, with 160 participants in Puerto Rico, is designed with a placebo control to explore a potential trend towards clinical efficacy. We expect to have this data in 2018.
Because our DNA vaccine can be rapidly designed and manufactured, our products are well positioned to meet major public health challenges. Fully funded via a previous $3.5 million grant from the NIH and working with our collaborators at U.S. Army, Inovio last month announced the publication of a study with -- in which our vaccine provided 100% protection for nonhuman primates challenged with a lethal dose of the Lassa fever virus, a virulin haemorrhagic virus similar to Ebola, which infects approximately 300,000 people annually."
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https://finance.yahoo.com/news/edited-transcript-ino-earnings-conference-034026462.html
INO
Out at $5.96. Will be interesting to see the accuracy of BarChart which has $5.99 as the first resistance level. Look to re-enter but the roller-coaster today presented a good chance for profit.
CLF
Back in @ $5.60 purely as technical trade. Chart suggests must be close to bottom. Supported by BarChart:
Pivots Stochastics Fibonacci Moving Averages Highs/Lows RSI HLC print download
Support/Resistance Levels Price Key Turning Points
21.65 Price Crosses 18-40 Day Moving Average
13.55 Price Crosses 9-40 Day Moving Average
52-Week High 12.37
14 Day RSI at 80% 10.60
9.77 38.2% Retracement From 52 Week High
9.09 Price Crosses 9-18 Day Moving Average
8.97 50% Retracement From 52 Week High/Low
13-Week High 8.77
14 Day RSI at 70% 8.32
8.16 38.2% Retracement From 52 Week Low
1-Month High 7.73
7.59 38.2% Retracement From 13 Week High
7.23 50% Retracement From 13 Week High/Low
7.22 Price Crosses 40 Day Moving Average Stalls
7.02 Price Crosses 9 Day Moving Average Stalls
6.95 38.2% Retracement From 4 Week High
6.87 38.2% Retracement From 13 Week Low
6.76 Price Crosses 40 Day Moving Average
6.71 50% Retracement From 4 Week High/Low
6.62 14-3 Day Raw Stochastic at 80%
6.60 3-10-16 Day MACD Moving Average Stalls
6.50 14-3 Day Raw Stochastic at 70%
6.49 14 Day RSI at 50%
6.47 38.2% Retracement From 4 Week Low
6.28 Price Crosses 18 Day Moving Average
6.27 14-3 Day Raw Stochastic at 50%
6.16 Price Crosses 18 Day Moving Average Stalls
6.15 14 Day %k Stochastic Stalls
Pivot Point 2nd Level Resistance 6.12
6.10 Price Crosses 9 Day Moving Average
6.06 14 Day %d Stochastic Stalls
6.04 14-3 Day Raw Stochastic at 30%
Pivot Point 1st Resistance Point 5.99
5.92 14-3 Day Raw Stochastic at 20%
5.88 Pivot Point
Previous Close 5.85 Previous Close
High 5.79 High
5.75 3-10 Day MACD Oscillator Stalls
Pivot Point 1st Support Point 5.75
1-Month Low 5.69
13-Week Low 5.69
Low 5.67 Low
Last 5.67 Last
Pivot Point 2nd Support Point 5.64
52-Week Low 5.56
14 Day RSI at 30% 5.52
14 Day RSI at 20% 4.31
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https://www.barchart.com/stocks/quotes/CLF/cheat-sheet
CLF
Back in INO @ $4.30 today (but not low enough) on biotech drop.
INO
You know I haven't looked at it closely for weeks. Been more attentive to finding the bottom to CLF and don't want to have both. They have been trading in tandem for almost half a year, but at the beginning of November they diverged with X going up and CLF down.
To me the current X chart shows no reason to buy or sell. BarChart has X as buy. Seems to me budget and infrastrucrure news will be the determiners.
Your take?
X
Sold @ $4.75 to take profits. Definitely looking to re-enter. Showed a lot of strength all day.
INO
Entered yesterday @ $4.51. Got to believe at the 52 week low this is going to bounce back:
Analysts' Consensus Ratings for Inovio Pharmaceuticals (NASDAQ:INO) (How are Consensus Ratings Calculated?)
Ratings Breakdown: 0 Sell Ratings, 2 Hold Ratings, 8 Buy Ratings, 0 Strong Buy Ratings
Consensus Rating: Buy (Score: 2.80)
Consensus Price Target: $20.20 (355.98% upside)
https://www.marketbeat.com/stocks/NASDAQ/INO/
INO
Nah, don't own CLF, sold on the 1st as I posted. That is why haven't been posting since. However, I found out what it is and posted a bit of research/observation which I directed to you:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=135921745
CLF
Out SNOA @ $4.50. Might go higher before earnings tomorrow, but can't count on selling. Crazy manipulation by MMs on this low volume stock -- takes a lot of patience.
SNOA
Dew is the one with the answer.
That's way back, I remember trading in the low 20's.
I have no knowledge of Mesabi Trust. Didn't even realize it traded on the market until you called the name to my attention. Something I find interesting is that CLF and MSB had been trading somewhat in sync. However, in mid August they greatly diverged with MSB shooting up and CLF falling. I'd assume that is because CLF is more comprehensive in holdings whereas MSB has a narrow focus. Would have liked to have known about MSB in early August!
Google finance allows you to compare two stocks on the same chart. Here is the link:
https://finance.google.com/finance?q=NYSE%3AMSB&ei=p278WZi2FYOImAG8jpD4CA
You may have to enter the two symbols because the link may not retain them.
CLF
I don't know what MSB stands for. CLF was up nicely although I doubt it was the news, but more than likely the X quarterly. Yesterday was a nice gap up and a spinning top candle suggesting investor indecision. I choose to take small profits early in the day from my buy the previous day so I'm out and will buy back. The tax plan release today could impact CLF
CLF
Out CLF @ $6.25 (as it continues north) -- keep forgetting how quickly this stock moves.
CLF
Watch the Curve For Iron Ore's Spring Promise
By Jasmine Ng and Alfred Cang
November 1, 2017, 7:41 AM EDT
Futures in Dalian shift to contango amid mainland steel curbs
Speculation of demand snapback spurs premium for May contract
Iron ore’s in very unfamiliar territory. As China presses home its campaign to curb steel production, some investors are starting to wager that after a chill in winter, a torrent of pent-up demand will spur a springtime rebound in a move that’s shifted the shape of the futures curve.
On the Dalian Commodity Exchange, deliveries in May are now more costly than nearer-term supplies for January, reversing the typical pattern that’s held true for months. The new market structure is known as contango, and for iron ore investors it’s an unusual sight.
“This is probably the first or second time we’re seeing a contango,” Dang Man, a steel analyst at Chinese brokerage Maike Futures Co. in Xi’an, said by phone. “Speculation about demand recovery, which could drive a flurry of restocking activity by steel mills, has pushed the May price above that of January.”
Fight Pollution
Iron ore prices have retreated for the past two months on expectations steel output cuts in China to fight pollution over winter will sap iron ore consumption just as miners add output. At the same time, producers and investors are peering forward into 2018, pondering what’ll happen to supply, demand and prices when the curbs are relaxed. Deutsche Bank AG and Credit Suisse Group AG are among banks that have suggested demand may snap back.
“The forward curve has gone into contango for the first time in a very, very long time,” Nev Power, chief executive officer of Australian miner Fortescue Metals Group Ltd., said in an interview. “It is very significant intervention, to put these restrictions on,” he said, referring to the curbs, adding: “I think there’ll be significant pent-up demand to come after winter.”
All Change
On Wednesday, futures for January delivery -- currently the most-active in Dalian -- were at 429.5 yuan a metric ton, while the May contract was at 452 yuan, a premium of 22.5 yuan. A couple of weeks ago, on Oct. 19, the pair were almost at parity. Go back to the start of September, and the May contract languished at a discount of more than 20 yuan.
China’s steel cuts are likely to create seasonal price swings in iron ore, Deutsche Bank said in an October report in which it predicted “a strong pick-up in demand in spring.” While the bank sees benchmark iron ore with 62 percent content at $55 in the first quarter, the forecast for April to June is $70. The spot price was at $59.35 a dry ton on Wednesday, according to Metal Bulletin Ltd.
There are similar observations from Credit Suisse. Steel demand that’s been temporarily subdued could emerge in the first half of 2018, “surprising the market on the upside,” analysts Yang Luo and Peter Li said in an Oct. 31 note.
In Singapore, SGX AsiaClear iron ore futures paint a different picture as the forward curve is almost flat through to mid-year, then slopes downward -- with longer-dated prices lower than nearer ones in a pattern known as backwardation. Unlike Dalian -- where investors’ positions are clustered in every fourth month, with concentrations in January, May and September -- positions in Singapore are more evenly spread.
Maike’s Dang said the unusual contango structure in Dalian suggested the impact of China’s curbs have been overplayed, and it will probably be short-lived. She added while the Singapore curve has flattened, it’s not about to flip: “I don’t expect a similar structure to be duplicated in the SGX contracts.”
_______________________________________________________________
https://www.bloomberg.com/news/articles/2017-10-31/watch-the-curve-as-iron-ore-s-spring-promise-beats-winter-blues
CLF
Got to agree, joined you @ $4.25 today. Real hard to get shares. Sat at $4.25 for about a week.
Like the potential. Dan Ward's Tweets about it caught my attention. He's apparently in at $4.50ish.
SNOA
I just sold @ $14.35, but already see it has run past that. Will look to re-enter.
Good luck, I'm sure that I will buy back once it settles.
THC
Surprised aren't you? Still don't understand the timing of them closing out the buyout prospect, especially relative to the timing of the financial release. Sure wish had bought at the end of yesterday instead of earlier.
I know there is a huge short position, but I have a sell limit set a bit above the pre-market high.
You staying long?
THC
Tenet Releases Preliminary Results for the Third Quarter of 2017, Announces $150 Million Cost Reduction Initiative and Appoints New Independent Director
By Business Wire, October 27, 2017, 08:00:00 AM EDT
Net loss from continuing operations attributable to Tenet shareholders is expected to be approximately $366 million
Adjusted EBITDA is expected to be approximately $507 million, including an estimated $30 million impact due to lower revenues and higher expenses related to Hurricanes Harvey and Irma and $10 million of lower-than-anticipated revenues from the Texas Medicaid Waiver and Florida Medicaid programs
Targeted cost reduction program intended to enhance margins and operating efficiencies; ongoing actions through mid-2018 are expected to yield $150 million of annualized run-rate savings by the end of 2018
James Bierman to join board as part of ongoing board refreshment process
DALLAS--(BUSINESS WIRE)-- Tenet Healthcare Corporation (NYSE:THC) today released preliminary financial results for the third quarter ended September 30, 2017. The Company also announced a cost reduction initiative and the appointment of a new independent director to the Tenet board of directors.
"Despite the impact of two hurricanes, the unanticipated Medicaid cuts in Texas and Florida, and overall volume weakness, we delivered Adjusted EBITDA within our Outlook for the quarter," said Ronald A. Rittenmeyer, executive chairman and CEO. "Regardless, we must do more. We are moving quickly and decisively to improve financial results and returns for our shareholders. The cost reduction program we announced today includes a number of structural changes in the way we operate, all intended to reinforce accountability, improve agility and speed decision making. We believe these changes will help us drive organic growth, expand margins, and better support our hospitals and other facilities in delivering higher levels of quality and patient satisfaction."
Mr. Rittenmeyer added, "We have and we will continue to review, analyze and pursue all options to enhance shareholder value."
Preliminary Results for the Third Quarter of 2017
The Company anticipates reporting net operating revenues after provision for doubtful accounts of approximately $4.586 billion and a net loss from continuing operations attributable to Tenet shareholders of approximately $366 million, or $3.63 per diluted share, in the third quarter of 2017. After adjusting for certain items, which are listed on Table #2 at the end of this release, Tenet expects to report an Adjusted net loss from continuing operations attributable to Tenet shareholders of approximately $17 million, or $0.17 per diluted share.
Adjusted EBITDA in the third quarter of 2017 is expected to be approximately $507 million and was negatively impacted by approximately $40 million as a result of the following three items: (i) an estimated $30 million of lower revenues and higher expenses associated with Hurricanes Harvey and Irma, prior to any insurance recoveries the Company may receive in future periods; (ii) $8 million of lower-than-anticipated revenues from the Texas Medicaid Waiver program; and, (iii) approximately $2 million of lower-than-anticipated revenues from the Florida Medicaid program due to changes associated with the Low Income Pool (LIP) program.
As compared to the third quarter of 2016, patient revenues in the Hospital Operations and other segment declined 2.3 percent on a same-hospital basis in the third quarter of 2017, with admissions declining 2.6 percent, adjusted admissions declining 2.2 percent and net patient revenue per adjusted admission declining 0.2 percent. The Company's same-hospital revenue per adjusted admission was lowered by approximately 150 basis points due to the lack of CMS approval of the California Provider Fee Program. The Company estimates that Hurricane Irma lowered same-hospital admissions and adjusted admissions by approximately 50 basis points. Excluding the impact of the hurricane as well as patients that were insured by Humana in both the third quarters of 2016 and 2017, same-hospital admissions declined 1.2 percent and adjusted admissions declined 0.8 percent.
Revenues in the Ambulatory segment increased 0.9 percent on a same-facility system-wide basis as compared to the third quarter of 2016, with cases decreasing 2.4 percent and revenue per case increasing 3.4 percent. Hurricanes Harvey and Irma lowered same-facility system-wide case growth by approximately 210 basis points. Excluding the hurricanes as well as patients that were insured by Humana in both the third quarters of 2016 and 2017, same-facility system-wide cases decreased 0.3 percent.
Tenet's preliminary financial results for the three months ended September 30, 2017 are subject to the completion of the Company's quarterly financial and accounting review process.
The Company plans to report its final financial results for the third quarter ended September 30, 2017 after the market close on November 6, 2017 and will provide an updated Outlook for 2017 at that time. The Company will host a conference call on November 7, 2017 at 10:00 a.m. Eastern Time (9:00 a.m. Central Time). A live audio webcast and an accompanying presentation will be accessible through the Company's website at www.tenethealth.com/investors.
Cost Reduction Initiative
Tenet has begun the implementation of an enterprise-wide cost reduction initiative - comprised primarily of headcount reductions and the renegotiation of contracts with suppliers and vendors - which is intended to lower annual operating expenses by $150 million. The Company anticipates achieving the full annualized run-rate savings by the end of 2018.
Approximately 75 percent of the savings are expected to be achieved through actions within the Company's Hospital Operations and other segment, including the elimination of a regional management layer and streamlining corporate overhead and centralized support functions. Tenet also expects to realize savings from actions within the Company's Ambulatory Care and Conifer business segments.
In total, the Company anticipates eliminating approximately 1,300 positions, including contractors. In conjunction with this initiative, Tenet expects to incur pre-tax restructuring costs of approximately $40 million in the fourth quarter of 2017. Substantially all of these costs relate to employee severance payments that will begin in the fourth quarter of 2017.
Board Appoints New Independent Director
The Company's board of directors appointed James Bierman to the board, effective immediately. Tenet's board now consists of 10 directors, nine of whom are independent.
"I am pleased to announce the appointment of Jim to our board, in furtherance of our commitment to ongoing board refreshment and strong governance," said Mr. Rittenmeyer. "Jim is highly qualified with significant operational and financial experience in the healthcare sector, and we look forward to benefitting from his valuable insights and perspective. We are committed to continuing to refresh the board with highly talented and engaging individuals in the coming months."
Biographical Information
Mr. Bierman served as President and Chief Executive Officer of Owens & Minor, Inc., a Fortune 500 company and a leading distributor of medical and surgical supplies, from September 2014 to June 2015. Previously, he served in various other senior roles at Owens & Minor, including President and Chief Operating Officer from August 2013 to September 2014, Executive Vice President and Chief Operating Officer from March 2012 to August 2013, Executive Vice President and Chief Financial Officer from April 2011 to March 2012, and as Senior Vice President and Chief Financial Officer from June 2007 to April 2011. From 2001 to 2004, Mr. Bierman served as Executive Vice President and Chief Financial Officer at Quintiles Transnational Corp. Prior to joining Quintiles Transnational, Mr. Bierman was a partner at Arthur Andersen LLP. Mr. Bierman earned his B.A. from Dickinson College and his MBA at Cornell University's Johnson Graduate School of Management. He formerly served as a director of Owens & Minor and Team Health Holdings, Inc.
Non-GAAP Financial Information
This press release includes certain non-GAAP measures, such as Adjusted EBITDA, Adjusted net income (loss) from continuing operations attributable to Tenet shareholders, and Adjusted diluted earnings (loss) per share from continuing operations attributable to Tenet shareholders. Reconciliations of these measures to the most comparable GAAP measure are contained in the tables at the end of this release.
The results of many of the facilities in which the Ambulatory segment has an investment are not consolidated by Tenet. To help analyze the segment's results of operations, management uses system-wide measures, which include revenues and cases of both consolidated and unconsolidated facilities.
About Tenet Healthcare
Tenet Healthcare Corporation is a diversified healthcare services company with nearly 130,000 employees united around a common mission: to help people live happier, healthier lives. Through its subsidiaries, partnerships and joint ventures, including United Surgical Partners International, the Company operates 77 general acute care hospitals, 20 short-stay surgical hospitals and approximately 460 outpatient centers in the United States, as well as nine facilities in the United Kingdom. Tenet's Conifer Health Solutions subsidiary provides technology-enabled performance improvement and health management solutions to hospitals, health systems, integrated delivery networks, physician groups, self-insured organizations and health plans. For more information, please visit www.tenethealth.com.
The terms "THC", "Tenet Healthcare Corporation", "the Company", "we", "us" or "our" refer to Tenet Healthcare Corporation or one or more of its subsidiaries or affiliates as applicable.
This release contains "forward-looking statements" - that is, statements that relate to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "expect," "assume," "anticipate," "intend," "plan," "believe," "seek," "see," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include, but are not limited to, the factors disclosed under "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended December 31, 2016 and other filings with the Securities and Exchange Commission.
Tenet uses its Company website to provide important information to investors about the Company including the posting of important announcements regarding financial performance and corporate developments.
Non-GAAP Financial Measures
Adjusted EBITDA, a non-GAAP measure, is defined by the Company as net income (loss) attributable to Tenet Healthcare Corporation common shareholders before (1) the cumulative effect of changes in accounting principle, (2) net loss (income) attributable to noncontrolling interests, (3) income (loss) from discontinued operations, (4) income tax benefit (expense), (5) other non-operating income (expense), net, (6) gain (loss) from early extinguishment of debt, (7) interest expense, (8) litigation and investigation (costs) benefit, net of insurance recoveries, (9) net gains (losses) on sales, consolidation and deconsolidation of facilities, (10) impairment and restructuring charges and acquisition-related costs, (11) depreciation and amortization and (12) income (loss) from divested operations and closed businesses (i.e., the Company's health plan businesses). Litigation and investigation costs do not include ordinary course of business malpractice and other litigation and related expense.
Adjusted net income (loss) from continuing operations attributable to Tenet Healthcare Corporation common shareholders, a non-GAAP measure, is defined by the Company as net income (loss) attributable to Tenet Healthcare Corporation common shareholders before (1) impairment and restructuring charges, and acquisition-related costs, (2) litigation and investigation costs, (3) gains on sales, consolidation and deconsolidation of facilities, (4) gain (loss) from early extinguishment of debt, (5) income (loss) from divested operations and closed businesses (6) the associated impact of these five items on taxes and noncontrolling interests, and (7) net income (loss) from discontinued operations. Adjusted diluted earnings (loss) per share from continuing operations, a non-GAAP term, is defined by the Company as Adjusted net income (loss) from continuing operations attributable to Tenet Healthcare Corporation common shareholders divided by the weighted average primary or diluted shares outstanding in the reporting period.
The Company believes the foregoing non-GAAP measures are useful to investors and analysts because they present additional information on the Company's financial performance. Investors, analysts, Company management and the Company's Board of Directors utilize these non-GAAP measures, in addition to GAAP measures, to track the company's financial and operating performance and compare the Company's performance to its peer companies, which utilize similar non-GAAP measures in their presentations. The Human Resources Committee of the Company's Board of Directors also uses certain of these measures to evaluate management's performance for the purpose of determining incentive compensation. Additional information regarding the purpose and utility of specific non-GAAP measures used in this release is set forth below.
The Company believes that Adjusted EBITDA is a useful measure, in part, because certain investors and analysts use both historical and projected Adjusted EBITDA, in addition to other GAAP and non-GAAP measures, as factors in determining the estimated fair value of shares of the Company's common stock. Company management also regularly reviews the Adjusted EBITDA performance for each operating segment. The Company does not use Adjusted EBITDA to measure liquidity, but instead to measure operating performance.
These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. Because these measures exclude many items that are included in our financial statements, they do not provide a complete measure of our operating performance. Accordingly, investors are encouraged to use GAAP measures when evaluating the Company's financial performance.
A reconciliation of Adjusted EBITDA to net income (loss) attributable to Tenet Healthcare Corporation common shareholders, the most comparable GAAP measure, is set forth in Table #1 below for the three and nine months ended September 30, 2017 and 2016. A reconciliation of Adjusted net income from continuing operations attributable to Tenet Healthcare Corporation common shareholders to net income (loss) attributable to Tenet Healthcare Corporation common shareholders, the most comparable GAAP measure, is set forth in Table #2 below for the three and nine months ended September 30, 2017 and 2016.
TENET HEALTHCARE CORPORATION
Additional Supplemental Non-GAAP disclosures
Table #1 - Reconciliation of Adjusted EBITDA to Net Income (Loss)
Attributable to Tenet Healthcare Corporation Common Shareholders
(Unaudited)
(click link for details)
http://www.nasdaq.com/press-release/tenet-releases-preliminary-results-for-the-third-quarter-of-2017-announces-150-million-cost-20171027-00480
THC
Not sure. The story doesn't really make much sense to me that they would change direction due to the CEO's early departure. Thinking the offers were too low, but even then no reason to stop the process at this point.
Hope to recover and let it alone for awhile.
THC
Was working well until Tenet ends process of selling itself. Bottom fell!
Had been close to my limit sell.
THC
Back in @ $13.60, hoping for more buyout rumors. Believe down today due to negative Bloomberg article from last night.
THC
Back in @ $21.15 following the fairly regular drop down. Hope it is the bottom. $21.13 is the lower BB.
CIEN
Sold at $22.30 for small profit. Been a long time and is bumping against the 50 DMA today when there is news and over-all market is up. Will re-enter.
CIEN
Out THC @ $14.60 for a break even. Probably a mistake with the buyout rumors and the good performance today.
THC