Today's Daily Dose brings you news about Gilead's lackluster forecast for 2018; Myriad's rosy outlook; Sangamo's initial safety data from CHAMPIONS trial; Seattle Genetics' revenue target for 2018, and grave findings from Merck Animal Health Veterinary Wellbeing Study.
Gilead Sciences Inc. (GILD) expects its product sales for 2018 to miss the consensus analyst estimate.
The Company has forecast 2018 total product sales to range between $20 billion and $21 billion, while Wall Street analysts are expecting sales of $21.97 billion.
Looks like the Company's product sales are on the decline as can be seen from the numbers - the total product sales during 2017 were $25.7 billion, compared to $30.0 billion in 2016.
GILD closed Tuesday's trading at $80.38, up 2.56%. In after-hours, the stock was down 2.03% to $78.75.
Myriad Genetics Inc. (MYGN), which has exceeded its financial expectations in the first half of fiscal year 2018, has issued fiscal third-quarter 2018 financial guidance and raised its outlook for the year.
For fiscal third quarter 2018, the Company expects adjusted EPS to range between $0.26 to $0.28, and revenue to range between $186 million and $188 million.
For fiscal year 2018, adjusted EPS is now expected to be in the range of $1.11 to $1.16, and revenue is anticipated to be in the range of $760 million to $770 million. Previously, the Company had forecast adjusted EPS in the range of $1.00 to $1.05, and revenue in the range of $750 million to $770 million.
MYGN closed Tuesday's trading at $35.81, up 4.10%.
Sangamo Therapeutics Inc.'s (SGMO) initial safety data from its phase I/II clinical trial evaluating SB-913 for the treatment of mucopolysaccharidosis (MPS) type II reveals that the compound is well-tolerated.
In the study, dubbed CHAMPIONS, the first patient treated on November 13, 2017, with SB-913 at a dose of 5.00E+12 vg/kg tolerated the infusion well. A second patient was treated in the study in mid-January 2018, was also administered a dose of 5.00E+12 vg/kg.
There have been no concerning safety issues related to SB-913 till date, according to the Company.
The CHAMPIONS study is designed to enroll up to nine adult males with MPS II.
The Company expects enrollment of remaining patients to proceed on schedule and to begin to report additional safety and initial efficacy data by mid-year.
SGMO closed Tuesday's trading at $19.65, up 4.52%.
Seattle Genetics Inc. (SGEN) expects 2018 total revenues to fall short of analysts' expectations.
The total revenue for 2018 is expected to be in the range of $470 million to $505 million, while analysts polled by Thomson Reuters expect the Company to report revenue of $566.58 million.
The Company's supplemental Biologics License Application for ADCETRIS in combination with chemotherapy for the frontline treatment of patients with advanced classical Hodgkin lymphoma is under FDA review, with a decision expected on May 1, 2018.
SGEN closed Tuesday's trading at $54.24, up 1.82%.
Veterinarians age 45 and younger are more likely to experience serious psychological distress, and only 27% of them would endorse the profession to a friend or family member, reveals Merck Animal Health Veterinary Wellbeing Study.
The survey, which is the first-of-its-kind, is a nationally representative sample of veterinarians in the U.S. to evaluate their wellbeing, which is a broader measure of happiness and life satisfaction than mental health alone.
Student debt, stress and suicides are the top concerns among veterinarians.
In 2017, the average veterinary student graduated with more than $138,000 in student debt, according to AVMA, which is nearly twice the average starting salary for a veterinarian, creating a significant strain on the future of the profession, finds the survey.
Viking Therapeutics Inc. (VKTX) has closed its previously announced underwritten public offering of 12.65 million shares of its common stock at a public offering price of $5.00 each.
The gross proceeds to Viking from this offering are approximately $63.3 million.
You can find more about VKTX in our premium stock report.
VKTX closed Tuesday's trading at $5.97, down 5.39%.
by RTTNews Staff Writer
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