Latest news with #EvanDavidSeigerman
Yahoo
02-06-2025
- Business
- Yahoo
BioNTech Gains 20% On $11.1 Billion Bristol Deal
BioNTech (NASDAQ:BNTX) surged 20% after Bristol Myers Squibb (NYSE:BMY) agreed to license its bispecific antibody BNT327targeting PD-L1 and VEGF-Afor solid tumors in a deal worth up to $11.1 billion. Under the agreement, BMY will pay a $1.5 billion upfront fee and $2 billion in guaranteed payments through 2028, with BioNTech eligible for up to $7.6 billion in milestones. Both companies will fund development and manufacturing costs equally and split global profits or losses. BNT327 is currently in a Phase 3 trial as a first-line treatment for extensive-stage small-cell and non-small-cell lung cancers, and a Phase 3 study in triple-negative breast cancer will launch by year-end. BMY and BNTX retain rights to pursue additional indications and combination regimens. Warning! GuruFocus has detected 2 Warning Signs with BNTX. Street analysts applauded the collaboration. BMO Capital Markets' Evan David Seigerman noted that Bristol gains a next-generation molecule to potentially replace Opdivo, while BioNTech taps Bristol's global distribution and oncology development expertise. Raymond James' Sean McCutcheon added that the move shores up Bristol's mid- to long-term growth pipeline ahead of an anticipated Opdivo revenue gap post-2028. Investors should care because this partnership accelerates BNT327's path to market with a Tier 1 oncology partner, de-risks late-stage development, and provides BioNTech with substantial non-dilutive capitalwhile Bristol secures a promising immunotherapy to bolster its portfolio. With the first $1.5 billion payment already recognized, markets will focus on upcoming BNT327 Phase 3 readouts and any future milestone announcements that unlock the remaining $7.6 billion. This article first appeared on GuruFocus.
Yahoo
25-05-2025
- Business
- Yahoo
Merus (MRUS) Price Target Raised at BMO After Positive Phase 2 Data
BMO Capital Markets maintained its Outperform rating on Merus N.V. (NASDAQ:MRUS) shares on May 24 while raising its price target from $96 to $110. The revision comes after encouraging Phase 2 data for Merus' drug candidates petosemtamab and pembrolizumab (pembro) were released. The drugs are intended to treat recurrent or metastatic Head and neck squamous cell carcinoma (HNSCC). Presented at the American Society of Clinical Oncology (ASCO), Merus' updated data included findings from an analysis of 43 evaluable patients conducted on February 27, 2025. With a confirmed Objective Response Rate (ORR) of 63%, the study demonstrated robust and long-lasting responses. Notably, a 79% survival rate was shown by the 12-month Overall Survival data. The standard of care for pembrolizumab, which carries a reported survival rate of roughly 50–59%, compares favorably to this. The market's response to the ASCO presentation indicates that petosemtamab's clinical potential to take the HNSCC treatment landscape to new heights is well-supported. The price target increase and revised estimates also demonstrate growing investor confidence in the drug's prospects. Evan David Seigerman of BMO Capital backed this assessment after the approval probability rose from 85% to 90%, pointing to favorable safety data. While we acknowledge the potential of MRUS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MRUS and that has 100x upside potential, check out our report about the cheapest AI stock. Read More: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-05-2025
- Business
- Yahoo
Merus (MRUS) Price Target Raised at BMO After Positive Phase 2 Data
BMO Capital Markets maintained its Outperform rating on Merus N.V. (NASDAQ:MRUS) shares on May 24 while raising its price target from $96 to $110. The revision comes after encouraging Phase 2 data for Merus' drug candidates petosemtamab and pembrolizumab (pembro) were released. The drugs are intended to treat recurrent or metastatic Head and neck squamous cell carcinoma (HNSCC). Presented at the American Society of Clinical Oncology (ASCO), Merus' updated data included findings from an analysis of 43 evaluable patients conducted on February 27, 2025. With a confirmed Objective Response Rate (ORR) of 63%, the study demonstrated robust and long-lasting responses. Notably, a 79% survival rate was shown by the 12-month Overall Survival data. The standard of care for pembrolizumab, which carries a reported survival rate of roughly 50–59%, compares favorably to this. The market's response to the ASCO presentation indicates that petosemtamab's clinical potential to take the HNSCC treatment landscape to new heights is well-supported. The price target increase and revised estimates also demonstrate growing investor confidence in the drug's prospects. Evan David Seigerman of BMO Capital backed this assessment after the approval probability rose from 85% to 90%, pointing to favorable safety data. While we acknowledge the potential of MRUS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MRUS and that has 100x upside potential, check out our report about the cheapest AI stock. Read More: and . Disclosure: None.
Yahoo
19-05-2025
- Business
- Yahoo
Novo Nordisk (NVO) Slides After CEO Departure; Analyst Flags Deeper Strategic Concerns
Novo Nordisk (NVO, Financials) shares fell nearly 4% after the company said CEO Lars Fruergaard Jrgensen will step down. A replacement has not been named. Warning! GuruFocus has detected 1 Warning Sign with NVO. Shares of the Ozempic maker have declined 52% over the past year, compared with a less than 3% drop for rival Eli Lilly (LLY, Financials), which markets the weight-loss drug Zepbound. Novo's leadership change comes amid mounting pressure in the GLP-1 drug space, where Lilly's prescription growth has outpaced Novo's performance. Evan David Seigerman of BMO Capital Markets told CNBC the leadership change won't resolve the company's core strategic issues. He said the company must reevaluate its current trajectory and design a more effective long-term plan. Seigerman's remarks fueled speculation that Novo could pursue acquisitions. Shares of Structure Therapeutics, which is developing oral obesity drugs, rose more than 2% at midday on takeover rumors. Explore Novo Nordisk's historical financials. Track insider trades at Novo Nordisk. This article first appeared on GuruFocus.
CNBC
16-05-2025
- Business
- CNBC
BMO's Evan David Seigerman: Novo Nordisk CEO departure reflects disparity with Eli Lilly
Evan David Seigerman, BMO Capital Markets head of healthcare research, joins CNBC's 'Money Movers' to discuss reactions to the departure of Novo Nordisk's CEO, what is means for the company's trajectory, and more.
