News of Note - March 9-14, 2023

BULL BEAR BRES|NAHAN

Tuesday, March 14, 2023

As of -> 22:45 EET

Programming update: should be quiet from my end for a spell.. back soon!

----------------

This banking kerfuffle has me perhaps 5% worried, outliers always show themselves at some point..

The more I stew on this Pfizer plus Seagen deal, I’m more than okay with it, I rather like it.. Ample firepower remains, the deal will take awhile to close and be on the verge of being accretive the further out it goes.. Most importantly, it papers over some near term issues (palbo, tofa, enza); and at what cost, they’re ridiculously under-levered and this doesn’t even change that much when you factor in more than cash and debt – i.e. Haleon and ViiV..

Good stuff though it likely means that biotech needs to lean on others to get some deal BD/M&A done – and Novartis while a prime suspect seems to very much be in divestment mode; I’m thinking post Sandoz spin we see some action..

Similar thinking for J&J, Sanofi is a wildcard and GSK needs to do something.. yada yada yada – I think biotech will do fine, though P-fizz could run into some election grandstanding (which could nuke the sector at least temporarily)..

😊

Br. -john

*PRESS RELEASES*

SGEN – Seagen cc: PFE – Pfizer

Seagen to Present New Clinical and Preclinical Data From Broad Portfolio of Targeted Cancer Therapeutics at the 2023 AACR Annual Meeting

LLY – Eli Lilly

Announces Details of Presentations at 2023 American Association for Cancer Research (AACR) Annual Meeting

BX – Blackstone

Cvent To Be Acquired By Blackstone in $4.6 Billion Transaction

CP | CP CN – Canadian Pacific

Announces ratification of new collective agreement with Soo Line BLET

ILMN – Illumina

Launches its first product enabling long- and short-read sequencing on one instrument

Responds to Icahn Partners' Nomination of Directors

NET – Cloudflare

Integrates with Atlassian, Microsoft, and Sumo Logic to Make Zero Trust Security Easy for Businesses

GSK LN | GSK – GSK

Positive phase III results for MenABCWY vaccine

Nucala NDA accepted for review in China

4503 JT – Astellas

Results from Pivotal Phase 3 SKYLIGHT 1™ Study of Fezolinetant for Vasomotor Symptoms Due to Menopause Published in The Lancet

Announces Phase 3 China ARCHES Study of XTANDI® Meets Primary Endpoint

Astellas and BMT CTN Announce Topline Results from Phase 3 MORPHO Trial of Gilteritinib

BALL – Ball

Ball Aerospace Prototype Payload to Provide On-Orbit Data Processing

ABBV – AbbVie

Showcases Strength of Dermatology Portfolio with New Data Presented at the 2023 AAD Annual Meeting

PFE + SGEN – Pfizer + Seagen

Invests $43 Billion to Battle Cancer Presentation

Webcast

Transcript

ZAVZPRET™ (zavegepant) Migraine Nasal Spray Receives FDA Approval

SAN FP | SNY - Sanofi

To acquire Provention Bio, adding to portfolio TZIELD, the first disease-modifying treatment for the delay of Stage 3 type 1 diabetes (T1D)

MRK – Merck

KEYTRUDA® (pembrolizumab) Plus Chemotherapy Significantly Improved Overall Survival Versus Chemotherapy Alone as First-Line Treatment for Advanced Malignant Pleural Mesothelioma

RO SW | ROG SW | RHHBY – Roche

FDA Advisory Committee votes in favour of the clinical benefit of Roche’s Polivy combination for people with previously untreated diffuse large B-cell lymphoma

4503 JT & SGEN - Astellas and Seagen

Announce China's National Medical Products Administration Accepts Biologics License Application for Enfortumab Vedotin in Certain Patients with Locally Advanced or Metastatic Urothelial Cancer

PEG – PSE&G

2023 Investor Conference Highlights Improved Business Mix and Platform for Predictable Growth

GBLB BB – GBL

Results as of December 31, 2022

NESN SW - Nestlé

Latest plant-based beverage combines oats and fava beans

NOVN SW | NVS - Novartis

Sandoz signs Memorandum of Understanding to build new biologics production plant in Slovenia, to support increasing global demand for biosimilar medicines

AZN SS | AZN LN | AZN – AstraZeneca

Tagrisso demonstrated strong overall survival benefit in the ADAURA Phase III trial

Imfinzi improved EFS in resectable lung cancer

UCB BB – UCB

Cancer Research UK Collaboration

SIVB – SVB <THE RELEASE THAT STARTED IT ALL> X)

Q1’23 Mid-Quarter Update

LLY – Eli Lilly

Provides Update on A4 Study of Solanezumab for Preclinical Alzheimer's Disease

US FDA accepts supplemental New Drug Application for Jardiance® for children 10 years and older with type 2 diabetes

STLAM IM | STLAP FP | STLA - Stellantis

Stellantis and the South African Authorities Sign Framework Agreement to Manufacture Vehicles in South Africa

EAPI FH – EUROAPI

Full-Year 2022 Results

[BIO]

IDYA – IDEAYA

Announces Presentations at AACR Annual Meeting 2023 for Potential First-in-Class Synthetic Lethality Programs IDE397 (MAT2A), IDE161 (PARG) and Werner Helicase

ROIV - Roivant

To Host Investor Call at 8:00 AM ET on Wednesday, March 15 to Review Results from ADORING 2 Phase 3 Trial in Atopic Dermatitis

MOR GY | MOR – MorphoSys

Lucinda Crabtree to Join MorphoSys as Chief Financial Officer

PACB – PacBio

Announces a New Informatics Analysis Method for Highly Homologous Genes

MIRM - Mirum Pharma

Announces Label Expansion for LIVMARLI in the United States to Include Infants Three Months of Age and Older

Mirum Pharmaceuticals Reports Fourth Quarter and Year-End 2022 Financial Results and Provides Business Update

COGT - Cogent Biosciences

Reports Recent Business Highlights and Fourth Quarter and Full Year 2022 Financial Results

RAPT - RAPT Therapeutics

Reports Fourth Quarter And Year End Financial Results

BMRN – BioMarin

To Share Updated Data at 2023 American College of Medical Genetics and Genomics (ACMG) Meeting Demonstrating Commitment to Understanding Long-Term Benefit of VOXZOGO® in Children with Achondroplasia

EWTX - Edgewise Therapeutics

To Present on EDG-5506 for Becker and Duchenne Muscular Dystrophy (BMD, DMD) at the 2023 Annual MDA Clinical and Scientific Conference

BHVN – Biohaven

Announces Presentation at the American Society for Experimental Neurotherapeutics (ASENT) Annual Meeting

BNTX – BioNTech

Update on First BioNTainer for African-based mRNA Manufacturing Facility

SPRO - Spero Therapeutics

Reschedules Fourth Quarter and Full Year 2022 Earnings Release and Conference Call to March 30, 2023

CBOU - Caribou Biosciences

Reports Fourth Quarter and Full Year 2022 Financial Results and Provides Business Update

MOLN SW - Molecular Partners

Reports Corporate Highlights From Q4 2022 and Key Financials for Full Year 2022

VRTX – Vertex

Announces FDA Clearance of Investigational New Drug Application for VX-264, a Novel Encapsulated Cell Therapy for the Treatment of Type 1 Diabetes

BGBIO NO – BerGenBio

Announces First Patient Dosed in Phase 1b/2a Trial Evaluating Bemcentinib in 1st Line Non-Small Cell Lung Cancer with STK11 Mutations

MASI – Masimo

New Study Finds That Masimo PVi® Reliably Predicted Fluid Responsiveness in Young Children Undergoing Neurosurgery

SWTX - SpringWorks Therapeutics

Announces New England Journal of Medicine Publication of Phase 3 DeFi Trial Evaluating Nirogacestat in Adults with Desmoid Tumors

HEALTH FH – Nightingale Health

Strategic collaboration in Estonia progresses: Nightingale Health completes the analysis of 200,000 Estonian Biobank samples

[FINLAND/NORDICS]

TYRES FH – Nokian Tyres

The Russian Governmental Commission has approved PJSC Tatneft’s purchase of Nokian Tyres plc’s operations in Russia

KESKOA FH | KESKOB FH – Kesko

To acquire the solar power system wholesaler Zenitec Sweden

Kesko’s sales grew in February

EQNR NO | EQNR – Equinor

Second discovery of the year near the Troll field in the North Sea

PIHLIS FH – Pihlajalinna

Considers issuance of minimum EUR 20 million hybrid capital securities

Pihlajalinna's CEO to change

Change negotiations conclude - measures to strengthen profitable growth continue

Changes in Pihlajalinna's Management Team

BAKKA NO – Bakkafrost

CORRECTION: UPDATE on Revenue tax on salmon farming in the Faroe Islands

FORTUM FH – Fortum

S&P Global Ratings affirms Fortum's long-term rating of BBB, revises outlook to stable

VOLVB SS – Volvo Group

Accelerates sustainable mobility with innovation hubs on three continents

VERK FH - Verkkokauppa.com

Has completed its change negotiations

ELISA FH – Elisa

Elisa’s Medium-term Targets and Distribution Policy

VAIAS FH – Vaisala

Brings portable measurements to its Indigo product family

*ARTICLES, ETC.*

Other

Joint Statement by Treasury, Federal Reserve, and FDIC

Understanding going under

By unlocking the secrets of anesthesia, Professor Emery Brown could help shed light on brain diseases, hibernation, and possibly even human consciousness.

Room-Temperature Superconductor Discovery Meets With Resistance

NVR Inc. (NVR)

Nirogacestat, a γ-Secretase Inhibitor for Desmoid Tumors

Association of Rurality With Risk of Heart Failure

Bloomberg

Honeywell’s New CEO Needs to Pick a Lane

The company should decide what kind of business it wants to be under new leader Vimal Kapur.

Boutique Bank Known to Few Outside Health-Care Helped Steer Seagen’s Sale to Pfizer

HSBC’s £2 Billion Boost for SVB’s UK Unit Caps Frantic Weekend

Lender bought SVB’s UK arm on Monday after weekend of talks

Executives reassure tech investors over post-acquisition plans

Signature Seized by Regulators as Pain Spreads From SVB’s Fall