Biotech News on Cusp of J.P. Morgan Confab: BioBuzz
By Adam Feuerstein 01/11/10 - 08:24 AM EST Loading Comments... Add Comment
Stock quotes in this article: AMAG , VRTX , BCRX , ITMN , VVUS , VPHM
SAN FRANCISCO, Calif. (TheStreet) -- TheJ.P. Morgan Healthcare Conference kicks off this morning and per tradition, biotech firms mark the occasion with news-filled press releases -- lots of them.
AMAG Pharmaceuticals(AMAG Quote) pre-announced fourth quarter Feraheme sales of $12 million and $13 million -- nicely above Street expectation of around $9 million. Furthermore, the company said that only about $1 million in sales of the intravenous iron replacement came from recognition of previously disclosed $11.5 million in deferred revenue. In other words, Feraheme demand was better than expected.
Vertex Pharmaceuticals(VRTX Quote) narrowed the timeline for the release of top-line results from its first phase III study of the experimental hepatitis C drug telaprevir to the second quarter. Previously, Vertex had said to expect the data in the first half of 2010.
BioCryst Pharmaceuticals(BCRX Quote) signed two new international marketing partners for its H1N1 flu drug peramivir, but the company failed to announce any new stockpiling contracts.
More from Adam Feuerstein Cyclacel's Cash Hunt for Cancer StudiesFDA to Blame for Mannkind Delay?Biotech Stock Mailbag: Novelos Therapeutics Market Activity Vertex Pharmaceuticals Incorporated| VRTX DOWNBiocryst Pharmaceuticals Inc.| BCRX UPInterMune Incorporated| ITMN UPMerck Serono has been brought on to try to sell peramivir in Europe and Russia while Hikma Pharmaceuticals will sell peramivir in the Middle East and North Africa, excluding Israel. Despite the new marketing partners, BioCryst has been unable to close any significant stockpiling contracts for peramivir outside the U.S. Some BioCryst bulls were hoping the company would announce today the approval of peramivir in Japan, however that doesn't appear to be happening quite yet.
InterMune(ITMN Quote) said it was changing the way it doses its experimental hepatitis C drug RG7227 (formerly ITMN-191) to patients. Moving forward, InterMune will use a lower dose of RG7227 that is "boosted" with the addition of a drug known as ritonavir in order to make its effect last longer in patients' bloodstreams. As a result, InterMune said boosted RG7227 can be administered twice a daily or perhaps once a day. The company will be altering ongoing studies of RG7227 in hepatitis C to include the addition of the ritonavir boosting agent.
Vivus(VVUS Quote) said its experimental erectile dysfunction drug works within 15 minutes of dosing, according to a new analysis if previously released results of a phase III study.
Viropharma(VPHM Quote) said 2010 sales guidance for its hereditary angiodema drug Cinryze of between $145 million and $165 million. The company said it will be profitable in 2010 but would not offer detailed earnings guidance until later in the first quarter.
