We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ionis (IONS) Receives Milestone Payment from AstraZeneca
Read MoreHide Full Article
Ionis Pharmaceuticals, Inc. (IONS - Free Report) announced that it has received a milestone payment worth $28 million from AstraZeneca plc (AZN - Free Report) following the completion of Investigational New Drug (IND)-supporting studies and licensing of IONIS-KRAS-2.5 (AZD4785).
Note that Ionis’ year-to-date share price movement shows that the company has outperformed the Zacks classified Medical-Drugs industry. Though Ionis’ stock price declined 20.4%, it compares favorably to the 24.9% fall for the industry.
Shares of AstraZeneca, on the other hand, have underperformed the Zacks classified Large Cap Pharmaceutical industry so far this year. The company lost 18% during this period, compared to the industry’s a drop of 5.2%.
Coming back to the latest news, IONIS-KRAS-2.5, a generation 2.5 antisense drug is designed to directly target KRAS, one of the most frequently mutated genes in cancer.
We remind investors that Ionis and AstraZeneca had inked a collaboration, license and development agreement in Dec 2012 to discover and develop antisense drugs for the treatment of cancer. The partnership combines AstraZeneca's experience and expertise in developing anti-cancer agents with Ionis' antisense technology platform to broaden the latter’s cancer franchise.
Under the terms of the agreement, Ionis received more than $85 million in upfront and milestone payments. The company is further eligible to receive up to $137 million for additional development and regulatory milestone payments. Ionis is also eligible to receive up to low double-digit royalties on sales of the product.
Meanwhile, the companies are evaluating AZD9150 (IONIS-STAT3-2.5), in combination with AstraZeneca’s durvalumab for the treatment of with head and neck cancer and diffuse large B-cell lymphoma. They also have a collaboration to discover and develop antisense therapies for the treatment of cardiovascular, metabolic and renal diseases.
Both Ionis and AstraZeneca currently carry a Zacks Rank #3 (Hold).
Vanda’s loss estimates narrowed from 62 cents to 52 cents for 2016, while its earnings estimates increased from 13 cents to 22 cents for 2017 over the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters with an average beat of 56.65%. Its share price has surged almost 72% year to date.
Heska’s earnings estimates increased from $1.13 to $1.35 for 2016 and from $1.38 to $1.53 for 2017 over the last 60 days. The company posted a positive earnings surprise in all of the four trailing quarters with an average beat of 301.64%. Its share price has surged almost 81% year to date.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Ionis (IONS) Receives Milestone Payment from AstraZeneca
Ionis Pharmaceuticals, Inc. (IONS - Free Report) announced that it has received a milestone payment worth $28 million from AstraZeneca plc (AZN - Free Report) following the completion of Investigational New Drug (IND)-supporting studies and licensing of IONIS-KRAS-2.5 (AZD4785).
Note that Ionis’ year-to-date share price movement shows that the company has outperformed the Zacks classified Medical-Drugs industry. Though Ionis’ stock price declined 20.4%, it compares favorably to the 24.9% fall for the industry.
Shares of AstraZeneca, on the other hand, have underperformed the Zacks classified Large Cap Pharmaceutical industry so far this year. The company lost 18% during this period, compared to the industry’s a drop of 5.2%.
Coming back to the latest news, IONIS-KRAS-2.5, a generation 2.5 antisense drug is designed to directly target KRAS, one of the most frequently mutated genes in cancer.
We remind investors that Ionis and AstraZeneca had inked a collaboration, license and development agreement in Dec 2012 to discover and develop antisense drugs for the treatment of cancer. The partnership combines AstraZeneca's experience and expertise in developing anti-cancer agents with Ionis' antisense technology platform to broaden the latter’s cancer franchise.
Under the terms of the agreement, Ionis received more than $85 million in upfront and milestone payments. The company is further eligible to receive up to $137 million for additional development and regulatory milestone payments. Ionis is also eligible to receive up to low double-digit royalties on sales of the product.
Meanwhile, the companies are evaluating AZD9150 (IONIS-STAT3-2.5), in combination with AstraZeneca’s durvalumab for the treatment of with head and neck cancer and diffuse large B-cell lymphoma. They also have a collaboration to discover and develop antisense therapies for the treatment of cardiovascular, metabolic and renal diseases.
Both Ionis and AstraZeneca currently carry a Zacks Rank #3 (Hold).
Key Picks in the Sector
A couple of better-ranked stocks in the health care sector are Vanda Pharmaceuticals Inc. (VNDA - Free Report) and Heska Corp. . Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Vanda’s loss estimates narrowed from 62 cents to 52 cents for 2016, while its earnings estimates increased from 13 cents to 22 cents for 2017 over the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters with an average beat of 56.65%. Its share price has surged almost 72% year to date.
Heska’s earnings estimates increased from $1.13 to $1.35 for 2016 and from $1.38 to $1.53 for 2017 over the last 60 days. The company posted a positive earnings surprise in all of the four trailing quarters with an average beat of 301.64%. Its share price has surged almost 81% year to date.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>