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This company would be a good target for an activist investor to get involved in. I'm pretty sure investors wouldn't support the current board.
Foley's total compensation seems more than a tad extravagant given his performance, particularly last year:
2023 $10,068,915
2022 $6,606,936
2021 $7,105,916
Likely some of it be tied to option expiration yesterday. That big number could include a lot of round trips by rapid traders.
The raise is not a surprise to me. I posted previously that a potential raise was the top concern of investors. We may get a bounce once the placement closes as happened with OCUL recently.
In the CD phase 3, the lower dose (125 units) looked better numerically than the higher dose (250 units) on the primary endpoint and had lower dysphagia.
Primary end point is number of patients who lose less than 15 letters by week 36 so I would assume the control group can get another shot once they lose 15 letters and they count as a failure in the control group.
New OCUL executive chairman is pretty excited in this interview by Brad Loncar. He thinks Diabetic Retinopathy could be as important as Wet AMD for OCUL. Also thinks that long term, the continuous release of the drug will be better for the patients than the monthly injections which cause a cycle of thinning/thickening. Good discussion of competitors and compliance issues.
https://www.biotechtv.com/post/ocular-therapeutix-february-26-2024
Maybe you could explain what that is for those of us unfamiliar with legal jargon. Thanks.
Injectors likely had inventory purchased at the higher price so it may not have made sense to pass the discount along right away.
I think the top concern for investors is the possibility that RVNC will need to do another financing and the wallstreet sharks will front run it and force a very large dilution. I am long. I'm not saying this is the most likely outcome but it's something we should be very concerned about. Good quarterly numbers or a partnership of some kind would greatly alleviate this concern and may have a much greater share price impact than casual observers might expect.
First time I remember hearing a comment about less bruising.
Management likely blacked out from buying until the quarter is reported. FWIW I bought 1000 today at 9.28.
I don't think that's it because both BMRN and SGMO were able to get to well above normal factor VIII expression in the first year but for some reason, it's not as durable.
Revance's new marketing slogan: Keep a stiff upper lip.
No, I didn't say that. I think they have a program that pulls recent insider data on a company and then surrounds it with boiler plate text summaries of the company. There are many companies doing this such as Zacks, Simply Wallstreet, and Insider Monkey.
Do they know why the Hemo A gene therapy wains so quickly while the Hemo B gene therapy is expected to last a lifetime?
I think that was just a computer generated article. There are several companies that pump out these auto generated click bait articles. It's quite annoying that yahoo includes many of them in their news list when you select a stock quote there.
Revance price target raised to $42 from $29 at H.C. Wainwright
Read more at:
https://thefly.com/n.php?id=3651227
I previously opined that patients use the name Botox generically and it seems that this applies to some of the professionals as well. It's a pretty good sign that she sees Daxxify as enough of a competitive advantage to make a video like this.
Wells Fargo analyst Jacob Hughes raised the firm's price target on Revance to $24 from $17 and keeps an Equal Weight rating on the shares. The analyst notes FDA has released Form 483 from the inspection on July 11 - July 15, 2022, which contains FDA's three observations after inspection for the re-submission of BLA for DAXI. Recall, with Q2 earnings, the company provided a summary of these observations to get ahead of this eventual release to the Street, but there was some incremental detail in the Form 483. Based on the redacted doc, the analyst's consultant overall does not believe there is enough here to hold back approval. Still, the organism cited in Observation #2 is concerning, and with stock at $22, Hughes simply does not think the risk/reward trade is favorable into the PDUFA.
Read more at:
https://thefly.com/n.php?id=3572273
Thanks for the detailed response.
Dew, any comment on this?
insert-text-here
That should affect Revance less than other biotechs right?
Why would the FDA care about Joshi's departure?
Agreed that it's a good deal. Removal of the financing overhang is also a huge plus.
Roth Capital analyst Zegbeh Jallah keeps a Buy rating on Enanta Pharmaceuticals (ENTA) with a $107 price target after the company data for EDP-235, its oral protease inhibitor of SARS-CoV2. While Merck's (MRK) oral antiviral drug molnupiravir is expected to receive Emergency Use Authorization, EDP-235, specifically developed for SARS-CoV2, is "naturally more potent and could offer a lower pill burden" than the eight daily pills required for molnupiravir, Jallah tells investors in a research note. The analyst says EDP-235 has nanomolar potency against SARS-CoV2 and its variants, ranging from IC50 2.0 - 5.8 nM. She looks forward to EDP-235 entering the clinic in 2022.
Read more at:
https://thefly.com/n.php?id=3389716
I'd be curious to know how difficult it would be for someone tech savy to steal these drones. I'm sure there is some sort of GPS unit on it but maybe it's not too difficult to remove.
Well, they are calling it a "derivative liability":
It's only 4 million so not really important but the "derivative liability" seems to be an obligation to pay 4 million on first approval of Daxi (referred to as part of "Medici Settlement" in earlier filing).
Thanks. The 10Q doesn't mention that the payment is in shares but I guess I should have inferred that from the fact that they treated it as a derivative.
I understand excluding the "deferred revenue" but it sounds like the derivative liability has to be paid upon Daxi approval so I don't think you should exclude it.
FGEN: My comments on the RJ initiation report.
IV Post
I got a chance to add some after all.
Nice timing Semi. I was hoping to add more FGEN as well with my MNTA money but didn't pull the trigger. Should be a good day on AKBA miss.
I'm not sure I like Daxxify but I do like this one: Twice upon a time.
link
59.6 million shares traded today. Who's buying? Hedge funds hoping to extort a few dollars from J&J?