From last May --->Genentech (DNA) Scores Big With Avastin
Monday May 19,
stockcharts.com[h,a]waclyyay[pb50!b200][vc60][iUc20!La12,26,9]&pref=G
By Adam Feuerstein, Senior Writer
Updated from 7:23 a.m. EDT
Genentech's (NYSE:DNA - News) shares rocketed 45% Monday after the biotech firm said its experimental drug Avastin "markedly" improved the survival of patients with colon cancer when used alongside chemotherapy.
The somewhat stunning positive results from the phase III clinical study of Avastin are a huge win for Genentech. Avastin is the most important -- and, up to this point, fairly controversial -- drug in the company's late-stage pipeline.
<<<The drug is the most advanced attempt to create a so-called anti-angiogenesis drug, which works by cutting off the blood supply to tumors. Anti-angiogenesis drugs have had a checkered history,>>>
and Avastin was no exception. Most recently, the drug failed a late-stage trial involving breast cancer patients last fall, leading to somewhat lowered expectations for its success.
*************
And later on after a massive squeeze
Plotting the Potential in Genentech
Tuesday May 27, 12:42 pm ET
By RealMoney Staff,
RealMoney contributors James Cramer and Adam Feuerstein take another look at Genentech's (NYSE:DNA - News) risks and rewards. Positive results from its cancer drug Avastin propelled its shares sharply higher last week, and the stock also attracted short-sellers who believed that the run was too big.
Cramer believes that the shorts on Genetech may have underestimated the potential for its "wonder drug," Avastin. He adds, "There are way too many shorts in the name given what the drug could do."
***********
Genentech and Amgen Settle Patent Dispute
Wednesday August 27, 8:26 pm ET
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Aug. 27, 2003--Genentech, Inc. (NYSE: DNA - News) announced today that it has settled its patent litigation with Amgen, Inc. in the U.S. District Court for the Northern District of California. Genentech filed its original complaint against Amgen in 1996.
Under the settlement agreement, both parties agreed to dismiss their claims and counterclaims against each other. As part of the settlement, Amgen will make a one-time payment to Genentech.
Financial terms of the settlement were not disclosed. Genentech expects the financial impact of the settlement to be approximately a $0.20 increase per share on a GAAP basis for 2003, and such amounts will be recorded as a one-time item in the third quarter.
Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes biotherapeutics for significant unmet medical needs. Sixteen of the currently approved biotechnology products originated from or are based on Genentech science. Genentech manufactures and commercializes 11 biotechnology products in the United States. The company has headquarters in South San Francisco, California and is traded on the New York Stock Exchange under the symbol DNA. For additional information about the company, please visit gene.com.
***********
Biotech Has to Prove It Deserves the High Life
Tuesday July 8, 1:02 pm ET
By Adam Feuerstein, Senior Writer
Wall Street wants to see strong numbers and bullish guidance when biotech earnings season kicks off Wednesday.
Expectations are high. For many of the big-cap, profitable, biotech firms such as Amgen (NasdaqNM:AMGN - News), Gilead Sciences (NasdaqNM:GILD - News), Genzyme General (NasdaqNM:GENZ - News) and Genentech (NYSE:DNA - News), it might not be enough to just meet second-quarter consensus estimates. To justify lofty biotech valuations -- and to get the sector moving higher again -- investors want to see some real upside to published second-quarter forecasts and/or new, higher guidance for the rest of the year. |
