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.
QIAGEN (QGEN) to Develop Companion Diagnostic for Neuron23
Read MoreHide Full Article
QIAGEN N.V. (QGEN - Free Report) recently signed an agreement with Neuron23 Inc. to develop a companion diagnostic testing for the latter’s brain penetrant leucine-rich repeat kinase (LRRK2) inhibitor for Parkinson’s disease. The collaboration combines Neuron23’s leading expertise in drug discovery, data science, and machine learning with QIAGEN’s long-standing experience and global leadership in companion diagnostic development. Neuron23’s drug candidate is currently in the late stages of preclinical development.
The Master Collaboration Agreement requires QIAGEN to create and validate a clinical trial assay that identifies a combination of biomarkers discovered by Neuron23. This is anticipated to predict the responsiveness of Parkinson’s disease to an LRRK2 inhibitor. The agreement also includes options for developing additional companion diagnostics in the future, subject to further clinical development.
The blood-based test from QIAGEN will help identify patients with Parkinson’s disease who might respond to Neuron23’s LRRK2 inhibitor. The clinical development of Neuron23’s LRRK2 inhibitor will be made less risky with creating a companion diagnostic that detects this sub-population of Parkinson’s disease patients. This will help recognize those individuals who might gain from this disease-modifying treatment.
More on the News
QIAGEN’s new assay for the collaboration with Neuron23 will be integrated into a next-generation sequencing (NGS) workflow. This workflow will utilize QIAGEN’s Sample to Insight capabilities, including instrumentation, IVD sample preparation, library preparation and bioinformatics. The NextSeq 500 System will be used to develop the workflow as part of the strategic NGS partnership between QIAGEN and Illumina.
The assay will be based on Neuron23’s artificial intelligence (AI)-enabled drug discovery and biomarker platform. It will target a complex signature of 50 single nucleic polymorphisms (SNPs) for the United States and European populations and eventually other SNPs prevalent in Asian populations.
Image Source: Zacks Investment Research
Per QIAGEN’s management, the latest collaboration demonstrates the rapid momentum precision medicine is gaining in other disease areas apart from oncology. QIAGEN’s expertise in blood- and NGS-based molecular testing from Sample to Insight will allow Neuron23 to conduct a clinical trial for a drug candidate. The candidate might potentially alter the course of an inevitable neurodegenerative disease in a genetically-defined population.
Industry Prospects
Per a report by Coherent Market Insights, the global Parkinson’s disease therapeutic market is expected to see a CAGR of 6.3% from 2021 to 2028. Factors such as increasing drug approvals and a robust pipeline of novel drugs under development for Parkinson’s disease can be attributable to market growth.
Given the market prospects, QIAGEN’s latest collaboration seems well-timed.
Other Notable Developments
In August 2022, QIAGEN launched the QIAstat-Dx Viral Vesicular Panel RUO— the first syndromic test that can distinguish between monkeypox and five other pathogens causing similar symptoms. The novel research use only (RUO) panel is available in cartridge form that can be run on QIAGEN’s QIAstat-Dx automated syndromic testing devices. It is part of the company’s efforts to combat the spread of monkeypox.
The same month, the company expanded its next-generation sequencing portfolio with the launch of QIAseq Targeted DNA Pro Panels and the QIAseq UPXome RNA Library Kit. These new innovations established new standards in preparing samples for identifying their nucleic acid sequences. The QIAseq Targeted DNA Pro Panels halve the library preparation time required for sequencing samples. Meanwhile, the novel low-input kit for RNA sequencing lowers disposable plastics use by 90%.
Share Price Performance
The stock has outperformed its industry in the past year. It has lost 17% compared with the industry’s 39.6% fall.
Zacks Rank and Key Picks
Currently, QIAGEN carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. (AMN - Free Report) , ShockWave Medical, Inc. (SWAV - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare has a long-term earnings growth rate of 3.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.7%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry in the past year. AMN has lost 4.7% against the industry’s 36.7% fall.
ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 33.1% for 2023. The company’s earnings surpassed estimates in all the trailing four quarters, the average beat being 180.1%.
ShockWave Medical has outperformed its industry in the past year. SWAV has gained 26.1% against the industry’s 29.7% fall in the past year.
McKesson has an estimated long-term growth rate of 9.9%. The company surpassed earnings estimates in the trailing three quarters and missed in one, delivering a surprise of 13%, on average. It currently carries a Zacks Rank #2 (Buy).
McKesson has outperformed its industry in the past year. MCK has gained 64.3% against the industry’s 15.8% fall.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
QIAGEN (QGEN) to Develop Companion Diagnostic for Neuron23
QIAGEN N.V. (QGEN - Free Report) recently signed an agreement with Neuron23 Inc. to develop a companion diagnostic testing for the latter’s brain penetrant leucine-rich repeat kinase (LRRK2) inhibitor for Parkinson’s disease. The collaboration combines Neuron23’s leading expertise in drug discovery, data science, and machine learning with QIAGEN’s long-standing experience and global leadership in companion diagnostic development. Neuron23’s drug candidate is currently in the late stages of preclinical development.
The Master Collaboration Agreement requires QIAGEN to create and validate a clinical trial assay that identifies a combination of biomarkers discovered by Neuron23. This is anticipated to predict the responsiveness of Parkinson’s disease to an LRRK2 inhibitor. The agreement also includes options for developing additional companion diagnostics in the future, subject to further clinical development.
The blood-based test from QIAGEN will help identify patients with Parkinson’s disease who might respond to Neuron23’s LRRK2 inhibitor. The clinical development of Neuron23’s LRRK2 inhibitor will be made less risky with creating a companion diagnostic that detects this sub-population of Parkinson’s disease patients. This will help recognize those individuals who might gain from this disease-modifying treatment.
More on the News
QIAGEN’s new assay for the collaboration with Neuron23 will be integrated into a next-generation sequencing (NGS) workflow. This workflow will utilize QIAGEN’s Sample to Insight capabilities, including instrumentation, IVD sample preparation, library preparation and bioinformatics. The NextSeq 500 System will be used to develop the workflow as part of the strategic NGS partnership between QIAGEN and Illumina.
The assay will be based on Neuron23’s artificial intelligence (AI)-enabled drug discovery and biomarker platform. It will target a complex signature of 50 single nucleic polymorphisms (SNPs) for the United States and European populations and eventually other SNPs prevalent in Asian populations.
Image Source: Zacks Investment Research
Per QIAGEN’s management, the latest collaboration demonstrates the rapid momentum precision medicine is gaining in other disease areas apart from oncology. QIAGEN’s expertise in blood- and NGS-based molecular testing from Sample to Insight will allow Neuron23 to conduct a clinical trial for a drug candidate. The candidate might potentially alter the course of an inevitable neurodegenerative disease in a genetically-defined population.
Industry Prospects
Per a report by Coherent Market Insights, the global Parkinson’s disease therapeutic market is expected to see a CAGR of 6.3% from 2021 to 2028. Factors such as increasing drug approvals and a robust pipeline of novel drugs under development for Parkinson’s disease can be attributable to market growth.
Given the market prospects, QIAGEN’s latest collaboration seems well-timed.
Other Notable Developments
In August 2022, QIAGEN launched the QIAstat-Dx Viral Vesicular Panel RUO— the first syndromic test that can distinguish between monkeypox and five other pathogens causing similar symptoms. The novel research use only (RUO) panel is available in cartridge form that can be run on QIAGEN’s QIAstat-Dx automated syndromic testing devices. It is part of the company’s efforts to combat the spread of monkeypox.
The same month, the company expanded its next-generation sequencing portfolio with the launch of QIAseq Targeted DNA Pro Panels and the QIAseq UPXome RNA Library Kit. These new innovations established new standards in preparing samples for identifying their nucleic acid sequences. The QIAseq Targeted DNA Pro Panels halve the library preparation time required for sequencing samples. Meanwhile, the novel low-input kit for RNA sequencing lowers disposable plastics use by 90%.
Share Price Performance
The stock has outperformed its industry in the past year. It has lost 17% compared with the industry’s 39.6% fall.
Zacks Rank and Key Picks
Currently, QIAGEN carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. (AMN - Free Report) , ShockWave Medical, Inc. (SWAV - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare has a long-term earnings growth rate of 3.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.7%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry in the past year. AMN has lost 4.7% against the industry’s 36.7% fall.
ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 33.1% for 2023. The company’s earnings surpassed estimates in all the trailing four quarters, the average beat being 180.1%.
ShockWave Medical has outperformed its industry in the past year. SWAV has gained 26.1% against the industry’s 29.7% fall in the past year.
McKesson has an estimated long-term growth rate of 9.9%. The company surpassed earnings estimates in the trailing three quarters and missed in one, delivering a surprise of 13%, on average. It currently carries a Zacks Rank #2 (Buy).
McKesson has outperformed its industry in the past year. MCK has gained 64.3% against the industry’s 15.8% fall.