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  • Moderna’s (MRNA) Stock Will Surge 80% From Current Levels, Says Analyst

    Moderna’s (MRNA) Stock Will Surge 80% From Current Levels, Says AnalystThere’s no doubt about it, Moderna’s (MRNA) profile has increased dramatically since the pandemic’s onset.The biotech name has climbed 206% higher this year, as investors have piled in with the hope that its COVID-19 vaccine candidate, mRNA-1273, might be the one to solve the coronavirus conundrum. Yet, it hasn’t all been positive news. Recently, questions have surfaced concerning the company’s sale of shares following the stock’s latest surge.Blocking out all of the noise, Oppenheimer analyst Hartag Singh recently attended Moderna’s virtual Science Day to get some visibility on the work going on behind the scenes. The 5-star analyst liked what he heard, to say the least.“Building on the last two Science Days, Moderna has kept a focus on strengthening its Research Platform science, with (1) increasing mRNA and encoded protein half-lives and stabilizing mRNA while avoiding double-stranded RNA impurities, (2) making a novel squaramide-based ionizable lipid (new LNP) to improve protein expression, and (3) designing a preclinical HIV vaccine program to MRNA's platform with its rapid iterative design/testing abilities,” Singh said.Highlights from the presentation included information regarding protein half-lives; Singh notes the duration of response and protein expression is improved by increasing half-lives of mRNA and protein. This is accomplished by “maximizing secondary structure and codon optimality, with a terminal idT added to prevent deadenylation that causes mRNA decay.”Singh added, “On a broader level, being able to understand and govern half-lives could potentially open new indication opportunities as well as better products for life-cycle management.”Moderna’s research collaboration with the National Institute of Allergy and Infectious Diseases (NIAID) to develop an HIV vaccine also got a mention, with MRNA's “unique platform capabilities,” receiving plaudits from both presenting KOLs (key opinion leaders).Summarizing, Singh “stays bullish,” and further said, “We would like to remind investors that MRNA's story is not a linear one but a platform expanding its value from many aspects.”To this end, Singh reiterated an Outperform rating on Moderna shares along with a $108 price target. Investors could be in for nearly 80% gain, should the Oppenheimer analyst’s thesis play out over the next year. (To watch Singh’s track record, click here)The rest of the Street keeps a bullish stance on Moderna, too. 10 Buys and 2 Holds add up to a Strong Buy consensus rating. The average price target comes in at $89.33, and implies possible upside of a handsome 47%. (See Moderna stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

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  • Hedge Funds Warming Up To Clearside Biomedical, Inc. (CLSD) Again?

    Hedge Funds Warming Up To Clearside Biomedical, Inc. (CLSD) Again?Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]

    from Yahoo Finance https://ift.tt/3gXEbxC

  • Atomo Diagnostics share price charges higher on expanded COVID-19 testing partnership

    Stylised portrayal of virus outbreak on blue background

    The Atomo Diagnostics Ltd (ASX: AT1) share price is charging higher this morning after expanding its COVID-19 testing partnership with a French biotech company.

    Atomo Diagnostics is a medical device company that supplies rapid diagnostic test (RDT) devices to the global diagnostic market. Its RDT platforms simplify testing procedures and enhance usability for both professional users and untrained self-testers. The company has supply agreements in place for tests targeting infectious diseases such as HIV and COVID-19.

    Atomo Diagnostics shares are fresh on the ASX scene after listing on 16 April 2020 at an issue price of 20 cents per share. At the time of writing, Atomo Diagnostics shares are changing hands at 34.5 cents per share – 9.52% higher for the day and 72.5% higher than the IPO price. The company’s market capitalisation is currently sitting just below $200 million.

    What did Atomo Diagnostics announce?

    After the market closed yesterday, Atomo revealed it has expanded its COVID-19 rapid test partnership with NG Biotech.

    Under the existing agreement, Atomo has been supplying NG Biotech with its Galileo rapid test device for use in NG Biotech’s COVID-19 antibody tests. The initial order under the agreement was for 397,200 devices, with NG Biotech having the right to purchase up to 2.465 million devices.

    To date, NG Biotech has ordered more than 1.5 million Galileo devices for testing in France. NG Biotech’s test has been CE Marked for professional use in Europe and results are obtained from a drop of blood in 15 minutes.

    Under the expansion of the partnership, Atomo now has exclusive rights to market and distribute the COVID-19 antibody test in Australia, New Zealand, and a number of countries in South East Asia – subject to obtaining regulatory approvals in each jurisdiction. The test will be marketed and distributed under the brand ‘AtomoRapid COVID-19 (IgG/IgM)’ and Atomo will be the listed manufacturer.

    The pricing arrangements with NG Biotech are limited to a price payable per unit only and do not include any license fees or royalties.

    Atomo noted that the period of exclusivity is not currently limited and it is in the process of negotiating a definitive long-term supply agreement with NG Biotech.

    What now?

    Atomo will now progress regulatory applications within the relevant jurisdictions in the coming months. Based on an assessment of regulatory pathways, the company’s initial focus will be Australia, the Philippines, Hong Kong and Taiwan.

    Commenting on the partnership expansion, Atomo’s co-founder and managing director John Kelly said:

    “Atomo is delighted to have secured exclusive rights to market, as the listed manufacturer, the COVID19 test which NG Biotech has successfully launched in Europe with initial sales to the French Ministry of the Armies (Defence) and a number of public hospitals, following strong results in independent French clinical studies.”

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    Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

    The post Atomo Diagnostics share price charges higher on expanded COVID-19 testing partnership appeared first on Motley Fool Australia.

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