Stockwinners Market Radar for March 03, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
HIW | Hot Stocks19:26 EDT Highwoods provides information on Laser Spine Institute - Highwoods Properties provided information on Laser Spine Institute, which leases a 176,000 square-foot, six-story building with structured parking in Tampa's Westshore submarket, a best business district. The building, which was developed by Highwoods, has been used by Laser Spine Institute, a long-term customer of Highwoods, for its company headquarters and an ambulatory surgery center. After the market closed on March 1, 2019, Laser Spine Institute announced it would immediately discontinue its operations. This unexpected announcement affects all of its locations nationwide. As a result of Laser Spine Institute's sudden closure, the company expects to write-off accounts and notes receivable, lease incentives and straight-line rents receivable associated with the building, which aggregated $11.8M at December 31, 2018 and approximately $12.2M at March 1, 2019, including non-cash items of approximately $6.8M as of both dates. The March 1, 2019 balance will be written-off in the first quarter of 2019. These charges, which will affect Funds from Operations, were not included in the company's initial 2019 per share FFO outlook published on February 5, 2019. The company will provide an updated FFO outlook as part of its first quarter earnings release on April 23, 2019. During the first quarter of 2019, the company also expects to write-off deferred leasing costs associated with the building, which aggregated $11.8M at December 31, 2018 and approximately $11.6M at March 1, 2019. The write-off of deferred leasing costs will affect net income but not FFO.
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TSLA... | Hot Stocks19:23 EDT Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Tesla (TSLA) CEO Elon Musk said via Twitter that, "Model Y unveil event on March 14 at LA Design Studio... Model Y, being an SUV, is about 10% bigger than Model 3, so will cost about 10% more & have slightly less range for same battery... Detailed specs & pricing will be provided, as well as test rides in Y." 2. China and the U.S. are in the final stage of completing a trade deal, with Beijing offering to lower tariffs and other restrictions on American farm, chemical, auto and other products and Washington considering removing most, if not all, sanctions levied against Chinese products since last year, The Wall Street Journal's Lingling Wei and Bob Davis reported. While hurdles remain, the talks have progressed to the extent that a formal agreement could be reached at a summit between President Trump and Chinese President Xi Jinping, probably around March 27, the publication added, citing people familiar with the matter. 3. Big Pharma has been struggling for years to produce drugs that are major breakthroughs in medicine and gene therapy may be "the promise land," offering potential for hundreds of genetic diseases, Andrew Bary wrote in this week's edition of Barron's. That promise, and its rich commercial potential, has led to a land grab among the drug giants, with the latest being Roche (RHHBY), which agreed to pay $4.8B for Spark Therapeutics (ONCE), following last year's acquisition of AveXis by Novartis (NVS), the report noted. Six publicly traded gene therapy-focused biotechs, and two whose treatments include gene therapy, offer investors a way to bet on the new genetic technology, namely as uniQure (QURE), Regenxbio (RGNX), Audentes Therapeutics (BOLD), Solid Biosciences (SLDB), MeiraGTx Holdings (MGTX), Voyager Therapeutics (VYGR), Sarepta Therapeutics (SRPT), the publication added. 4. Comcast (CMCSA; CMCSK) subsidiary Universal's "How to Train Your Dragon: The Hidden World" won the weekend box office with another $30M in its second weekend for a domestic total of $97.9M. Overseas, the movie earned $52M from 61 markets for a foreign cume of $277.7M and $375.4M globally. The sequel sports an audience grade of A and a 92% Rotten Tomatoes score. 5. AbbVie (ABBV), Broadcom (AVGO), SL Green Realty (SLG), Regions Financial (RF), Philips 66 (PSX), Marathon Petroleum (MPC), T. Rowe Price (TROW), PNC Financial (PNC), JPMorgan (JPM), Comerica (CMA), Gap (GPS), Lumentum's (LITE), and Ferrari (RACE) saw positive mentions in Barron's, while Kraft Heinz (KHC) and L Brands (LB) were mentioned cautiously.
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TSLA | Hot Stocks18:08 EDT Elon Musk says Tesla to unveil Model Y crossover SUV on March 14 - Tesla CEO Elon Musk said via Twitter that, "Model Y unveil event on March 14 at LA Design Studio... Model Y, being an SUV, is about 10% bigger than Model 3, so will cost about 10% more & have slightly less range for same battery... Detailed specs & pricing will be provided, as well as test rides in Y"
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T... | Hot Stocks16:41 EDT Box Office Battle: 'How to Train Your Dragon 3' wins weekend with another $30M - Comcast (CMCSA; CMCSK) subsidiary Universal's "How to Train Your Dragon: The Hidden World" won the weekend box office with another $30M in its second weekend for a domestic total of $97.9M. Overseas, the movie earned $52M from 61 markets for a foreign cume of $277.7M and $375.4M globally. The sequel sports an audience grade of A and a 92% Rotten Tomatoes score. BOX OFFICE RUNNERS-UP: Lionsgate's (LGF.A) "Tyler Perry's A Madea Family Funeral" placed number two, with $27M in its debut weekend. Behind it was Fox's (FOXA) "Alita: Battle Angel," earning another $7M for a domestic total of $72.2M. AT&T (T) subsidiary Warner Bros' "The Lego Movie 2: The Second Part" placed number 4 with $6.6M for a domestic tally of $91.7M and $152.8M worldwide. Rounding out the top five, Comcast subsidiary Universal's "Green Brook" grossed an estimated $4.7M for a North American total of $75.9M. Other publicly traded companies in filmmaking include Disney (DIS), Viacom (VIAB) and Sony (SNE).
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SPY SPX | Hot Stocks16:09 EDT Trump says big savings in curbing joint South Korea military drills - In a tweet, President Donald Trump said that, "The reason I do not want military drills with South Korea is to save hundreds of millions of dollars for the U.S. for which we are not reimbursed. That was my position long before I became President. Also, reducing tensions with North Korea at this time is a good thing!" Reference Link
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CGC | Hot Stocks12:32 EDT NHL Alumni, Canopy Growth team up to research concussions, cannabinoids - NHL Alumni Association, NEEKA Health Canada and Canopy Growth have announced a transformative clinical research partnership that will investigate the efficacy of cannabinoids as an integral part of a novel treatment for post-concussion neurological diseases in former NHL players. The study will undertake the rigorous science needed to establish the medicinal value of cannabis when combined with other proven treatments amongst this highly-afflicted group of elite athletes and potentially improve their ability to interact with family, friends and their communities. Approximately 100 former players will be enrolled in this randomized double-blind study. The study is expected to begin in summer 2019 and will take one year to complete.
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VRCA | Hot Stocks12:28 EDT Verrica Pharmaceuticals presents results from Phase 3 clinical trials of VP-102 - Verrica Pharmaceuticals presented data from the company's pivotal Phase 3 CAMP-1 and CAMP-2 trials of lead product candidate, VP-102, at the American Academy of Dermatology annual meeting being held in Washington, DC from March 1-5. Both trials of VP-102 in patients with molluscum contagiosum successfully met their primary endpoints. In each trial, a clinically and statistically significant proportion of patients treated with VP-102 demonstrated complete clearance of all treatable molluscum lesions in 12 weeks. On average, molluscum can take approximately 13 months to resolve without treatment, and in some cases can remain unresolved for several years. The two randomized, double-blind, multicenter, placebo-controlled trials evaluated the efficacy of dermal application of VP-102 compared to placebo in subjects with molluscum. In total, the trials enrolled 528 subjects two years of age and older with molluscum at 31 centers in the U.S. Subjects were treated once every 21 days with topical solution of 0.7% cantharidin for up to four applications. Complete clearance of molluscum lesions was evaluated by assessment of the number of lesions at study visits over 12 weeks. Results from CAMP-1 and CAMP-2 showed 46% and 54% of subjects treated with VP-102, respectively, achieved complete clearance of all treatable molluscum lesions at the end of the trials versus 18% and 13% of subjects in the placebo groups. By Day 84, VP-102 treated subjects had a 69% and 83% mean reduction in the number of molluscum lesions, a pre-specified endpoint, in CAMP-1 and CAMP-2 respectively, compared to a 20% increase and a 19% reduction for subjects on placebo. VP-102 was well-tolerated in both trials, with no serious adverse events reported in VP-102 treated subjects. The most frequently reported adverse events were application site reactions that are well-known, reversible side effects related to the mechanism of action of cantharidin, a blistering agent, which is the active ingredient in VP-102. There were no treatment-related serious adverse events reported in CAMP-1 or CAMP-2. Verrica previously announced topline results from both trials on January 3, 2019. Based on the positive results, the company plans to submit a New Drug Application for VP-102 in the second half of 2019. If approved, VP-102 would be the first FDA-approved treatment for molluscum contagiosum.
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PRNB | Hot Stocks12:25 EDT Principia Biopharma announces data from Phase 2 Pemphigus Vulgaris trial - Principia Biopharma announced Phase 2 clinical data from the Believe-PV study for PRN1008 as part of the Late-breaking Research: Clinical Trials program at the American Academy of Dermatology annual meeting in Washington D.C. PRN1008 is being developed for the potential treatment of pemphigus, including pemphigus vulgaris and pemphigus foliaceus. Confirming interim clinical results previously reported, the Phase 2 study reached the primary efficacy measurement of control of disease activity on low dose corticosteroids. The open-label Phase 2 study enrolled 27 patients with newly diagnosed and relapsed, mild to severe pemphigus. 24 patients were treated with oral PRN1008 and low dose corticosteroids for 12 weeks, with 12 weeks of follow-up. The primary endpoint was CDA at Week 4. Other secondary endpoints included complete remission rates and reduction in anti-desmoglein autoantibody levels. The study achieved the primary endpoint of CDA on low dose corticosteroids at 4 weeks in 54% of patients. The CDA results were generally consistent across all major subgroups; At Week 12, CDA occurred in 73% of patients; Of 24 patients who completed the study after 12 weeks of treatment, 17% achieved a complete response by Week 12 and 25% by Week 24; and PRN1008 was generally well-tolerated. The most frequently reported treatment-related adverse events were nausea, abdominal pain, and headache. There was one treatment-related serious adverse event in a patient with a localized patch of leg cellulitis, whose treatment with PRN1008 resumed after three days for a further eight weeks without event recurrence. The company has an ongoing global, randomized, double-blind, placebo-controlled, pivotal, Phase 3 clinical trial, the PEGASUS study, with planned enrollment of approximately 120 patients to evaluate PRN1008 versus placebo, using a background treatment of tapering doses of CS. PRN1008 has been granted orphan drug designation by the U.S. Food and Drug Administration for the treatment of patients with PV and by the European Commission for treatment of patients with pemphigus. Principia has initiated a Phase 2 extension to the Believe-PV clinical trial by increasing the active treatment period from 12 to 24 weeks, with a post-treatment follow-up period of four weeks. The top-line results from the Phase 2 extension are anticipated in the fourth quarter of 2019.
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UCBJY | Hot Stocks12:21 EDT UCB presents positive data from Phase 2b BE ABLE extension study of bimekizumab - UCB presented positive data from the Phase 2b BE ABLE extension study of bimekizumab in patients with moderate-to-severe chronic plaque psoriasis, which showed nearly all BE ABLE 1 responders completing 60 weeks of bimekizumab treatment maintained complete or almost complete skin clearance. The results are the longest-term data so far investigating bimekizumab and further highlight the potential value of the molecule's unique dual mechanism of action, which potently and selectively neutralizes IL-17F in addition to IL-17A, two key cytokines driving inflammatory processes. Findings were presented at a late breaker session at the American Academy of Dermatology Annual Meeting in Washington, DC. In the BE ABLE 1 study, up to 79% of patients achieved at least 90% skin clearance as soon as week 12, based on a dose range of 64mg, 160mg, 160mg with a 320mg loading dose, 320mg, or 480mg, administered every four weeks. Among these BE ABLE 1 responders, defined as achievement of PASI90 at week 12, 80-100% maintained the rigorous PASI90 measure for up to an additional 48 weeks based on a dose range of 160mg or 320mg, administered every 4 weeks, in the BE ABLE 2 extension study. Further, 70-83% and 78-100% of BE ABLE 1 responders maintained PASI100 and the Investigator's Global Assessment of response, respectively. The safety profile was consistent with previous studies, with no new safety findings observed. The most frequent treatment-emergent adverse events were oral candidiasis and nasopharyngitis. No cases of suicidal ideation/behavior, major adverse cardiac events, or inflammatory bowel disease were reported. UCB also presented findings this week from the BE AGILE study of bimekizumab in ankylosing spondylitis and the BE ACTIVE study of bimekizumab in psoriatic arthritis. The safety and efficacy of bimekizumab have not been established, and it is not approved by any regulatory authority worldwide.
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BIIB | Hot Stocks12:18 EDT Biogen responds to CADTH recommendation regarding SPINRAZA coverage - Canadian Association of Drugs and Technologies in Health, or CADTH, has publicly released updated recommendations that could inform provincial jurisdictions' decisions on the public reimbursement of SPINRAZA, the first and only approved treatment shown to be effective in the treatment of Spinal Muscular Atrophy. The updated recommendation has been expanded to include patients with genetic documentation of 5q SMA homozygous gene deletion, homozygous mutation, or compound heterozygote; are pre-symptomatic with two or three copies of SMN2, or have had disease duration of less than six months, two copies of SMN2, and symptom onset after the first week after birth and on or before seven months of age, or are 12 years of age or younger with symptom onset after six months of age, and never achieved the ability to walk independently; patient is not currently requiring permanent invasive ventilation. Biogen said in a statement that, "While the expanded CADTH recommendation will provide access to treatment for a larger subset of patients with SMA, it is disappointing that the clinical criteria in the recommendation continue to limit access to treatment for many patients with SMA who could potentially benefit from SPINRAZA, the only life-changing drug therapy available. Notably all patients over 12 years of age and all those who have reached the ability to walk independently are denied treatment."
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