Stock Pick

  • Immunic Spikes 35% In Pre-Market On Positive Multiple Sclerosis Data

    Immunic Spikes 35% In Pre-Market On Positive Multiple Sclerosis DataImmunic (IMUX) has announced positive top-line data from its phase 2 EMPhASIS trial of lead asset, IMU-838, the company’s selective oral DHODH inhibitor, in patients with relapsing-remitting multiple sclerosis (RRMS). Shares are now spiking 35% in Monday’s pre-market trading.The study achieved all primary and key secondary endpoints, indicating activity in RRMS patients.In particular, the study met its primary endpoint, demonstrating a statistically significant reduction in the cumulative number of combined unique active (CUA) magnetic resonance imaging (MRI) lesions up to week 24 in patients receiving 45mg of IMU-838 once daily, by 62% (p=0.0002), as compared to placebo.The study also met its key secondary endpoint, showing a statistically significant reduction in the cumulative number of CUA MRI lesions for the 30mg once daily dose, by 70% (p<0.0001), as compared to placebo.All other secondary endpoints, including those based on other MRI parameters and on clinical endpoints such as relapse events, also provided a noticeable signal and numerical benefit for the IMU-838 treatment groups, as compared to placebo.Moreover, administration of IMU-838 was observed to be safe and well-tolerated with a 42.9% rate of treatment-emergent adverse events vs 43.5% for placebo. Likewise, serious treatment-emergent adverse events were only observed in 3 out of 140 IMU-838-treated patients, and in 1 out of 69 patients on placebo.The phase 2 EMPhASIS trial was an international, multicenter, double-blind, placebo-controlled, randomized, parallel-group study, designed to assess the efficacy and safety of IMU-838 in patients with RRMS. Of the 210 patients randomized in 36 centers, 209 patients received at least one dose of IMU-838 or placebo, and 197 patients completed the blinded 24-week treatment period.“Given the strength of these top-line results, we will continue to prepare a clinical phase 3 program for IMU-838 in RRMS and, after a full review of the data, anticipate providing a further update on development strategy” commented Daniel Vitt, CEO of Immunic.“We are also looking forward to reading out clinical data from the other ongoing phase 2 trials of IMU-838 in COVID-19, primary sclerosing cholangitis and ulcerative colitis in the upcoming months” he added.Meanwhile the company announced a net loss for the three months ended June 30, 2020 of $11.5 million, or $0.90 per basic and diluted share.Shares in Immunic have exploded by 77% year-to-date, and analysts have a unanimously bullish outlook on the stock. The Strong Buy Street consensus comes with a $48 average analyst price target, indicating significant further upside potential lies ahead.According to HC Wainwright analyst Ram Selvaraju the positive top-line data of IMU-838 in RRMS could facilitate a transformative out-licensing deal. For the analyst the next key upcoming catalyst is potential interim clinical data from the CALVID-1 trial, proving the impact of IMU-838 in attenuating viral load in COVID-19-infected patients. (See IMUX stock analysis on TipRanks).Related News: GW Pharma Scores New FDA Approval For CBD Drug Epidiolex Incyte, MorphoSys Win FDA Nod For ‘Key Revenue Driver’ Tafasitamab Moderna Could Charge $50-$60 Per Covid-19 Vaccine Course- Report More recent articles from Smarter Analyst: * Eli Lilly Kicks Off Covid-19 Antibody Trial In Nursing Home Residents * Nordex To Sell Wind, Solar Projects To RWE For $474 Million * Nio July Car Deliveries Spike 322%; Shares Up 6% In Pre-Market * Varian Pops 24% In Pre-Market On $16.4B Buyout Deal; BTIG Sticks To Buy

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  • FOCUS-Next big COVID-19 treatment may be manufactured antibodies

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  • Chinese artificial intelligence company files $1.4 billion lawsuit against Apple

    Chinese artificial intelligence company files $1.4 billion lawsuit against AppleChinese artificial intelligence company Shanghai Zhizhen Intelligent Network Technology Co., Ltd., also known as Xiao-i, has filed a lawsuit against Apple Inc, alleging it has infringed on its patents. The company is calling for 10 billion yuan ($1.43 billion)in damages and demands that Apple cease “manufacturing, using, promising to sell, selling, and importing” products that infringe on the patent, it said in a social media post. Xiao-i argued that Apple’s voice-recognition technology Siri infringes on a patent that it applied for in 2004 and was granted in 2009.

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  • The COVID-19 Stimulus Package and Manufacturing PMIs Put the Dollar and EUR in Focus

    The COVID-19 Stimulus Package and Manufacturing PMIs Put the Dollar and EUR in FocusIt’s a busy day ahead, with manufacturing PMIs to drive the EUR and the Dollar. Geopolitics remains in focus, however, with all eyes on Capitol Hill.

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  • Zoom to shift to ‘partner-only’ model in China, suspend direct sales

    Zoom to shift to 'partner-only' model in China, suspend direct salesZoom Video Communications will shift to a partner-only model in mainland China from Aug. 23, suspending direct sales to all customers in the region, the company said on Monday. Zoom customers in China received an email on Monday informing them of the change, and telling them it would provide users with “better local support.” In the email, seen by Reuters, Zoom listed Bizconf Communications, Suiri Zhumu Video Conference, and Systec Umeet – as partners that can offer its commercial service to customers in China.

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  • Wall St. analysts are making the unusual move of raising earnings estimates: Morning Brief

    Wall St. analysts are making the unusual move of raising earnings estimates: Morning BriefTop news and what to watch in the markets on Monday, August 3, 2020.

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  • This $16 Billion Deal Takes Two Leaps of Faith

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  • Alleged 17-year-old Twitter hacker has more than $3 million worth of bitcoin assets

    Alleged 17-year-old Twitter hacker has more than $3 million worth of bitcoin assetsGraham Ivan Clark, the 17-year-old Florida man accused of hacking Twitter on July 15, has more than $3 million worth of bitcoin assets.The post Alleged 17-year-old Twitter hacker has more than $3 million worth of bitcoin assets appeared first on The Block.

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  • Earnings season: What to expect from the Qantas FY 2020 result

    Qantas

    Earlier today I looked at what was expected from Telstra Corporation Ltd (ASX: TLS) when it releases its full year results later this month. You can read about that here.

    Another highly anticipated full year result that investors will be watching out for comes from Qantas Airways Limited (ASX: QAN).

    The airline operator is scheduled to release its full year result on 20 August.

    What is expected from the Qantas FY 2020 result?

    According to a note out of Goldman Sachs, its analysts expect Qantas to report an operating EBITDAR of $2,220 million. This will be a 37% decline on FY 2019’s $3,521 million.

    On the bottom line, the broker is expecting the airline to post a modest $48 million profit before tax and an underlying net profit after tax of $25 million. This compares to a profit before tax of $1,326 million and a profit after tax of $912 million in FY 2019.

    Unsurprisingly, Goldman doesn’t expect Qantas to pay shareholders a final dividend.

    What else should investors look out for?

    Commentary around the coronavirus pandemic is something which the broker will be interested in.

    It explained: “The key focus of investors will be the impact of the coronavirus outbreak on international and domestic passenger volumes, scheduled services, load factors and ultimately operating margins in 2H20. Look for any colour on what measures management is taking to minimise the cost impact from the ongoing coronavirus outbreak, and how long these might be in place.”

    The same goes for recent border restrictions and the company’s previous plan to increase capacity over the coming months.

    Goldman said: “Amid concerns over secondary waves of infection in eastern states, border restrictions remain dynamic. How is QAN planning to increase capacity into this outlook?”

    And finally, investors will no doubt be keen to know how much cash Qantas is burning through and how long it can continue with its current liquidity.

    Goldman notes that Qantas expects to have a cash burn rate of $40 million per week from July. But it fears this could have changed given the border closures since this guidance was given.

    In respect to its liquidity, Qantas has indicated that it would have $5.1 billion pro-forma liquidity, with a ~$1 billion restructuring outlay in FY 2021. Goldman is curious about how long it expects this to last if conditions remain stagnant, and whether it will need to raise fresh equity in 2021.

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. 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 Earnings season: What to expect from the Qantas FY 2020 result appeared first on Motley Fool Australia.

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  • How Would Hong Kong Security Law Affect HSBC, StanChart?

    How Would Hong Kong Security Law Affect HSBC, StanChart?Aug.03 — Ronald Sum, senior partner and head of dispute resolution for Asia at law firm Addleshaw Goddard, talks about the national security law imposed by China on Hong Kong, and the implications for banks such as HSBC Holdings Plc and Standard Chartered Plc. He speaks with Rishaad Salamat and Haslinda Amin on “Bloomberg Markets: Asia.”

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