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.
J&J Strikes Deal with argenx to Co-Develop Cancer Antibody
Read MoreHide Full Article
Johnson & Johnson (JNJ - Free Report) announced that it has entered into a global collaboration and license agreement with Dutch firm argenx to jointly develop and globally commercializethe the latter’s promising antibody, cusatuzumab(ARGX-110). The candidate is being evaluated in phase I/II studies for the treatment of acute myeloid leukemia (AML) and high-risk myelodysplastic syndromes (MDS).
Cusatuzumab is an investigational first-in-class SIMPLE antibody, which targets CD70, an immune checkpoint implicated for treating various types of cancers including hematological malignancies.
An ongoing phase I/II study is evaluating the combo of cusatuzumab and Celgene’s Vidaza (azacytidine) in newly diagnosed AML patients, who are not fit to take intensive chemotherapy. Data from the study showed an encouraging anti-leukemia activity in these patients.
Per the terms of the agreement, J&J is entitled to pay $300 million as upfront payment along with potential development/sales-based milestones and double-digit royalties on ex-U.S. sales provided the candidate gets an approval and is eventually marketed. Both companies will equally share costs and profits/losses in the United States. If approved, J&J will be responsible for global commercialization and will record worldwide net trade sales. In the United States, argenx has reserved the option to commercialize the drug.
The transaction is expected to close in first-quarter 2019, subject to customary closing conditions and the clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
Notably, J&J’s investment arm Johnson & Johnson Innovation – JJDC, Inc. will make an equity investment in argenx SE.
Shares of J&J have gained 4.7% year to date, underperforming the industry’s increase of 10.4%.
J&J is actively seeking deals to strengthen its pipeline. In October 2018, the company signed an exclusive global licensing contract with Arrowhead Pharmaceuticals to develop and commercialize the latter’s RNAi therapy early-stage candidate, ARO-HBV, for chronic hepatitis b viral infection.
While Arrowhead will complete the ongoing phase I/II study on ARO-HBV, J&J will take over its development from phase IIb onward. J&J and Arrowhead also reached an option agreement, with J&J reserving the rights to choose up to three new RNAi therapeutics to be developed by the latter.
Bristol-Myers’ earnings estimates have been revised 6.6% upward for 2018 and 4.1% for 2019 over the past 60 days.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6% and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
J&J Strikes Deal with argenx to Co-Develop Cancer Antibody
Johnson & Johnson (JNJ - Free Report) announced that it has entered into a global collaboration and license agreement with Dutch firm argenx to jointly develop and globally commercializethe the latter’s promising antibody, cusatuzumab(ARGX-110). The candidate is being evaluated in phase I/II studies for the treatment of acute myeloid leukemia (AML) and high-risk myelodysplastic syndromes (MDS).
Cusatuzumab is an investigational first-in-class SIMPLE antibody, which targets CD70, an immune checkpoint implicated for treating various types of cancers including hematological malignancies.
An ongoing phase I/II study is evaluating the combo of cusatuzumab and Celgene’s Vidaza (azacytidine) in newly diagnosed AML patients, who are not fit to take intensive chemotherapy. Data from the study showed an encouraging anti-leukemia activity in these patients.
Per the terms of the agreement, J&J is entitled to pay $300 million as upfront payment along with potential development/sales-based milestones and double-digit royalties on ex-U.S. sales provided the candidate gets an approval and is eventually marketed. Both companies will equally share costs and profits/losses in the United States. If approved, J&J will be responsible for global commercialization and will record worldwide net trade sales. In the United States, argenx has reserved the option to commercialize the drug.
The transaction is expected to close in first-quarter 2019, subject to customary closing conditions and the clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
Notably, J&J’s investment arm Johnson & Johnson Innovation – JJDC, Inc. will make an equity investment in argenx SE.
Shares of J&J have gained 4.7% year to date, underperforming the industry’s increase of 10.4%.
J&J is actively seeking deals to strengthen its pipeline. In October 2018, the company signed an exclusive global licensing contract with Arrowhead Pharmaceuticals to develop and commercialize the latter’s RNAi therapy early-stage candidate, ARO-HBV, for chronic hepatitis b viral infection.
While Arrowhead will complete the ongoing phase I/II study on ARO-HBV, J&J will take over its development from phase IIb onward. J&J and Arrowhead also reached an option agreement, with J&J reserving the rights to choose up to three new RNAi therapeutics to be developed by the latter.
Zacks Rank & Stock to Consider
J&J currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the large cap pharma sector is Bristol-Myers Squibb Company (BMY - Free Report) , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bristol-Myers’ earnings estimates have been revised 6.6% upward for 2018 and 4.1% for 2019 over the past 60 days.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6% and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>