(RTTNews) - Swiss drug maker Roche Group (RHHBY)reported Thursday that third-quarter group sales were 14.70 billion francs, down from 15.60 billion francs last year. Sales grew 1 percent at constant currency rates.
In the Diagnostics Division sales grew 18 percent on a constant currency rate to 3.58 billion francs, with COVID-19 testing as the main contributor.
Sales in the Pharmaceuticals Division decreased 4 percent at constant rates to 11.12 billion francs.
Europe sales grew 2 percent, but sales in the US decreased 5 percent, in Japan by 13 percent and international sales fell 2 percent.
Nine-month group sales declined 5 percent on a reported basis to 43.98 billion Swiss francs from last year's 46.98 billion francs. However, group sales increased 1 percent at constant exchange rates, with significant impact of COVID-19 pandemic.
Looking ahead, the company confirmed its fiscal 2020 outlook. Sales are expected to grow in the low- to mid-single digit range, at constant exchange rates. Core earnings per share are targeted to grow broadly in line with sales, at constant exchange rates.
Roche expects to increase its dividend in Swiss francs further.
(RTTNews) - Shares of Innate Pharma S.A. (IPHA) are down nearly 50 percent from their 52-week high of $8.24, recorded in January of this year, and trade around $4.
Based in Marseille, France, the company made its debut on the Nasdaq Global Select Market on October 17, 2019, by setting a public offering at $5.50 per American Depositary Share. Innate has been listed on the Euronext in Paris since November 2006.
The company's lead compound is Monalizumab, a potentially first-in-class anti-NKG2A monoclonal antibody, which promotes anti-tumor immunity by unleashing both T & NK cells, and is partnered with AstraZeneca (AZN).
AstraZeneca obtained full oncology rights to Monalizumab from Innate Pharma in October 2018.
In May of this year, Innate presented Cohort 2 data from a phase II study which evaluated Monalizumab in combination with Eli Lilly's Erbitux in patients with recurrent or metastatic squamous cell carcinoma of the head and neck who were previously treated with both prior platinum-based chemotherapy and immuno-oncology treatments. The Cohort 2 demonstrated an ORR of 20%. (ORR or Overall response rate is the proportion of patients in a trial whose tumor is destroyed or significantly reduced by a drug).
A phase II expansion cohort, i.e., Cohort 3, exploring the combination of Monalizumab, Eli Lilly's Erbitux, and AstraZeneca's Imfinzi in immuno-oncology (IO)-naïve patients with recurrent or metastatic squamous cell carcinoma of the head and neck is ongoing. Data from Cohort 3 is expected to be published in 2021.
A phase III trial evaluating the combination of Monalizumab and Eli Lilly's Erbitux in patients with immuno-oncology (IO)-pre-treated recurrent or metastatic squamous cell carcinoma of the head and neck is expected to commence this quarter.
Innate Pharma will receive $50 million from AstraZeneca upon dosing of the first patient in the phase III trial, and an additional $50 million after the interim analysis demonstrates the combination meets a predefined threshold of clinical activity.
The other clinical programs in the pipeline are:
-- A phase II trial of Lacutamab alone or in combination with chemotherapy in patients with different subtypes of T-cell lymphoma, dubbed TELLOMAK IS ongoing. This international trial was placed on partial hold by the FDA and other regulatory agencies in February of this year due to Good Manufacturing Practice (GMP) deficiencies at the company's manufacturing subcontractor site.
The partial clinical hold on TELLOMAK was lifted in June and enrollment in the trial has resumed in Spain, Germany, France, UK, and the US.
TELLOMAK is designed to include 5 cohorts - Cohort 1: Relapsed/refractory Sezary Syndrome, Cohort 2: Stage IB-IV Mycosis Fungoides, KIR3DL2 expressing, Cohort 3: Stage IB-IV Mycosis Fungoides, KIR3DL2 non-expressing, Cohort 4: Peripheral T-cell lymphoma, KIR3DL2 expressing, and Cohort 5: Peripheral T-cell lymphoma, KIR3DL2 non-expressing.
Innate expects to share data from the TELLOMAK trial for mycosis fungoides in 2021 and Sézary syndrome in 2022.
-- A phase II trial of Avdoralimab in COVID-19 patients with severe pneumonia, dubbed FORCE, is underway.
-- Two investigator-sponsored studies with Avdoralimab one in chronic spontaneous urticaria and the other in bullous pemphigoid are due to be initiated this quarter.
-- A dose-escalation phase I trial evaluating Innate's IPH5201 as monotherapy or in combination with AstraZeneca's Imfinzi with or without Oleclumab in advanced solid tumors is ongoing. IPH5201 is also being developed under a collaboration with AstraZeneca.
In addition to the above, Innate has a marketed product Lumoxiti, in-licensed from AstraZeneca for the treatment of hairy cell leukemia, and a couple of pre-clinical programs. Lumoxiti is not approved in the European Union yet and is under review by the European Medicines Agency.
Cash & Financials:
In the first half of this year, Innate Pharma incurred a net loss of 10.3 million euros or 0.13 euros per share on revenue & other income of 36.74 million euros. This compared with a net income of 13.2 million euros or 0.20 euros per share and revenue & other income of 59 million euros in the first half of 2019.
Cash and cash equivalents totaled 184.6 million euros as of June 30, 2020.
On the NASDAQ, the stock has thus far hit a low of $3.30 and a high of $8.24. IPHA closed Friday's (Oct.16, 2020) trading at $4.17, up 4.25%.
Twitter’s CEO Dorsey again voiced his support for a decentralized social media standard
Bitcoin price is trading nearly unchanged on the week after the bulls managed to gain 1.37% yesterday
Any pullback to $10,500 will provide a buying opportunity for BTC investors
Bitcoin (BTC) price is trading sideways but still above the 200-DMA at $10,500. The long-term prospect for Bitcoin’s mass adoption may be accelerated by social media, according to Jack Dorsey, co-founder and CEO of Twitter.
Fundamental analysis: Social media platforms will be shaped by Bitcoin and crypto – Dorsey
Dorsey said the future of the social media platform will be moulded by Bitcoin and its technology. Dorsey has once again voiced his support for a decentralized social media standard at a virtual conference on September 25.
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“A lot of our value in the past was around content hosting. So we would host the tweets, the images, and videos,” Dorsey said at the virtual Oslo Freedom Forum 2020.
“Blockchain and bitcoin point to a future, and point to a world, where content exists forever, where it’s permanent, where it doesn’t go away, where it exists forever on every single node that’s connected to it,” he told Thor Halvorssentold, the Human Rights Foundation president.
Dorsey has formed a team named BlueSky and expects to hire five engineers “and some folks” to develop Twitter as an open protocol, similar to that which email is based on and will attempt to come up with an alternative to traditional, centralized social media networks.
“Right now we’re in the phase of finding a leader for it, but this is a completely separate non-profit from the company,” he said. “This group will be tasked with building a protocol that we can use and everyone else can use.”
This can be seen in Bitcoin and blockchain, Dorsey said. Individuals will gain more and more control over the keys, he added.
Technical analysis: Sideways price action
Bitcoin price is trading nearly unchanged on the week after the bulls managed to gain 1.37% yesterday and therefore erase Monday’s losses. This way, the world’s largest digital asset is trapped between $10,500 and $11,100.
Bitcoin price daily chart (TradingView)
Any pullback to the former level will provide a buying opportunity for BTC investors. On the other hand, the horizontal resistance line (the purple line) at $11,100 will continue to act as daily resistance.
Jack Dorsey has once again endorsed the decentralized social media standard and said Twitter’s future will be shaped by Bitcoin. The world’s largest cryptocurrency is trading mostly sideways this week.