Positive Movers: Neurocrine Biosciences, Inc. (NBIX), CONN’S Inc. (CONN), And Halozyme Therapeutics, Inc. (HALO)
New York, NY – GDP INSIDER – 01/09/2014.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX)’s drug, elagolix, met the primary end-point in one of the Phase 3 trials for a condition known as endometriosis. The condition is prevalent in millions of premenopausal women across the world. A research foundation tracking the impact of endometriosis estimates that about 170 million women worldwide suffer from the condition, which means that the market is there for elagolix.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) is developing elagolix in collaboration with AbbVie Inc (NYSE:ABBV). It is eligible for royalty and about $450 million in milestone payments under the deal with AbbVie. The latest trial results assessed different doses of the drug, such as 200-mg twice-daily and 150-mg daily dose for a period of six months and three months, respectively.
While elagolix appears likely to obtain FDA marketing approval, the major concern is that the drug will meet big competition in the market.
CONN’S, Inc. (NASDAQ:CONN) reported encouraging December sales. The retailer of durable consumer goods reported 11.5% increase in sales in December, and fetched a total of $132.4 million in the month. Last month’s nearly 12% gain followed a gain of 19.4% in the previous month. Sales performance in various segments was also encouraging, such as 3.8% uptick in the furniture and mattresses segment and 7.5% growth in the home appliances segment.
CONN’S, Inc. (NASDAQ:CONN)’s CEO, Theodore M. Wright, said the management was impressed with the December performance. They look forward to better performance in the future.
However, delinquency problems are some of the issues that could derail the progress of CONN’S, Inc. (NASDAQ:CONN) if the issues are not addressed in good time.
Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s CEO, Helen Torley, made a bullish case for their cancer drug known as PEGPH20. The CEO this week discussed the interim data from a Phase 2 trial of the drug and told analysts and investors that it believed that the drug would be a blockbuster.
PEGPH20 is designed to combat pancreatic cancer, but has the potential to treat several other types of cancers. The interim data from the trial of the drug showed positive indication. Full results from the study of PEGPH20 against pancreatic cancer are expected either later this year or early next year.
Halozyme Therapeutics, Inc. (NASDAQ:HALO) gained almost 12% on the positive comments by the CEO.
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