Were eager to work with innovators who share our values and our focus. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Given this, the behemoth may not be looking for another oncology company right away. Today, more people are surviving cancer than ever before, thanks to advances in diagnosis and treatment. In addition to participating on the panel, the company will also be meeting with potential and existing pharmaceutical partners. Its peak sales forecast is of more than $2 billion annually together from the maternal vaccine and an RSV shot for older adults. But Progenity may have a new, robust revenue stream soon, as the company was just granted an important patent by the United States Patent and Trademark Office. The OBDS platform is designed to enable delivery of liquid drug, eliminating the need for reformulation, and allows for industry-leading dosing of over 50 mg of proteins and over 5 mg of peptides. Lupus nephritis is an autoimmune disorder that's especially harsh on the kidneys, with approximately 10% to 30% of patients experiencing kidney failure within 15 years, despite current therapies. Any forward-looking statements that Progenity makes in this press release speak only as of the date of this press release. Burning Rock Biotech Limited BNR announced a strategic partnership with Germany's MERCK Kommanditgesellschaft auf Aktien MKKGY for developing companion diagnostics for the MET inhibitor tepotinib in the mainland China market. Additional information concerning these and other risks can be found in Progenitys periodic filings with the SEC, including under the heading Risk Factors contained therein. Based on its deep expertise in mRNA vaccine development and in-house manufacturing capabilities, BioNTech and its collaborators are developing multiple mRNA vaccine candidates for a range of infectious diseases alongside its diverse oncology pipeline. Each stock is evaluated based on short-term technical, long-term technical and fundamental factors. At that time, the company sold approximately 6.6 million shares for $15 apiece. Progenity Inc (PROG) Post# of 1456 Go Next 10 . ET. "They could have tried sooner," said Erin Sparrow, WHO's technical officer for the RSV vaccine, referring to Pfizer. Its first oncology drug, Gavreto, is a once-a-day oral medication for non-small cell lung cancer, as well as certain types of thyroid cancer with a mutation in a specific gene called RET. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Sylke Maas, Ph.D. PROG stock dropped to $9 in July 2020, and closed out the year trading at $5 and change. With a market cap of less than $2 billion and a potential blockbuster that has possible optionality into other autoimmune diseases, Aurinia looks undervalued and could find itself being acquired sooner rather than later. The drugmaker received a $28 million grant from the Bill and Melinda Gates Foundation in September to support the launch of the respiratory syncytial virus vaccine in poorer countries, where RSV - a common cold-like virus - is much more likely to be lethal for very young children. See here for a complete list of exchanges and delays. " Press release hints at Pfizer partnership Covid treatment. In any event, dont even think about getting on the short side of the trade. Learn about specific ways our research is leading to medicines and vaccines that will benefit patients around the world. The panel discussion will be live-streamed and will be available on demand for three months following the conference to registered attendees. Unleashing the next wave of scientific innovations, Research and Business Development Partnerships. InvestorsObserver's PriceWatch Alerts are based on our proprietary scoring methodology. Three candidates come to mind, but one seems like an ideal tuck-in acquisition. . No serious adverse events were reported. . About ProgenityProgenity, Inc. is a biotechnology company innovating in the fields of womens health, gastrointestinal health and oral biotherapeutics. The latest results were published online in the New England Journal of Medicine. REUTERS/Johanna Geron. If You Do This, You Won't Have to Worry About Them, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Pfizer announced a global collaboration with Arvinas, Copyright, Trademark and Patent Information. Written by This informationincluding product informationis intended only for residents of the United States. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products, including innovative medicines and vaccines. Progenity fits just about any definition of a penny stock: it has a low share price, a low market cap, and its as volatile as it gets. Anyone who bought that dip probably soon regretted the decision. The products discussed herein may have different labeling in different countries. Progenity, Inc. PROG said in a series of filings with the SEC that insiders, including Hutan Hashemi, chief compliance officer, and Matthew Cooper, chief compliance officer, disposed shares in the company. Inoculating pregnant women against RSV can protect babies from the virus that kills nearly 100,000 children worldwide each year. With more frequent administration, oral delivery has the potential to improve drug efficacy and safety as compared to current injection regimens. On the date of publication, David Moadeldid not have (either directly or indirectly) any positions in the securities mentioned in this article. Depending on success in clinical trials, todays agreement will enable the delivery of approximately 100 million doses of this vaccine to the American people.. This webcast may contain forward-looking statements about, among other things, our anticipated operating and financial performance, reorganizations, business plans and prospects; expectations for our product pipeline, in-line products and product candidates, including anticipated regulatory submissions, data read-outs, study starts, approvals, clinical trial results and other developing data that become available, revenue contribution, growth, performance, timing of exclusivity and potential benefits; strategic reviews; capital allocation objectives; dividends and share repurchases; plans for and prospects of our acquisitions, dispositions and other business development activities, and our ability to successfully capitalize on these opportunities; manufacturing and product supply; our efforts to respond to COVID-19, including the Pfizer-BioNTech COVID-19 vaccine and our investigational protease inhibitor; and our expectations regarding the impact of COVID-19 on our business that involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Pharma Atea Pharmaceuticals (AVIR -0.61%)reported interim phase 2 results at the end of June showing that its lead COVID-19 oral treatment, AT-527, could rapidly reduce the viral load in COVID-19 patients. Looking ahead, Progenity Chief Scientific Officer Matthew Cooper anticipates that the company will pursue "partnership opportunities for commercialization" of the Preecludia test. Sorry, you need to enable JavaScript to visit this website. The closing of the offering is expected to occur on or about October 6, 2021, subject to the satisfaction of customary closing conditions. We engage with academia and other public bodies in a range of partnerships, some models include: Our biotech partnerships allow us to help you bring your drug or platform to market, with a focus on: Our equity investments are active partnerships that seek to identify, support and grow good science from an early stage. The autoimmune-focused biotech expects an average annualized net revenue per patient of approximately $65,000. On July 20th, the companies announced early positive update from German Phase 1/2 COVID-19 vaccine study, including first T Cell response data. To make the world smarter, happier, and richer. Looking ahead, Progenity Chief Scientific Officer Matthew Cooper anticipates that the company will pursue partnership opportunities for commercialization of the Preecludia test. In an interview last month, Pfizer's head of vaccines research and development Annaliesa Anderson said the company still aimed to make its vaccine the first of its kind available for pregnant women in low-income countries more or less in the "same time frame" as in wealthy countries. The stock was slipping 2.46% to $4.76 in after-hours trading. Our goal remains to bring a safe and effective COVID-19 vaccine to many people around the world, as quickly as we can, said Ugur Sahin, M.D., CEO and Co-founder of BioNTech. That stock offering provided Progenity with a significant amount of capital, but dilution typically isnt viewed as a good thing for long-term investors. However, it could also be used to monoclonal antibodies, peptides, and nucleic acids rather than using an injection. Progenity continued its downward slide in early 2021, falling below $2 during the sweltering summer. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. The gross proceeds to Progenity from this offering are expected to be approximately $20 million, before deducting the placement agent's fees and other offering expenses. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. Type a symbol or company name. This $5 billion biotech is the first and only company to have two internally discovered and developed medicines that received U.S. Food and Drug Administration (FDA) approval within a decade of its founding. Progenity intends to use the net proceeds from this offering to support its operations, invest in research and development with respect to its diagnostic technologies and precision medicine platform, and for working capital and general corporate purposes. GUESS who produces togacitinib PFIZER! Or PROG stock could go to zero. Precaution: investigational drug/device combination products. All rights reserved. This designation was granted based on preliminary data from Phase 1/2 studies that are currently ongoing in the United States and Germany as well as animal immunogenicity studies. The other main concern is that Progenity announced last week that it was shifting its focus from prenatal testing kits to the companys biotech pipeline. Itamar Medical Ltd. ITMR (before the market open), Related Link: Attention Biotech Investors: Mark Your Calendar For November PDUFA Dates. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.

Waterloo, Il Obituary, Articles P

About the author