enter site Update-1 BLUE Drops 1.96% and 1.77% After Hours 6/3
In the bubbly CAR-T world bluebird bio (BLUE) and Celgene announced a deal for for development of product candidates for B-cell maturation antigen (BMCA) utilizing bluebird bios’s gene therapy technology to modify a patient’s own T-Cells to target cancer cells. A $25M up-front payment was made but it could be that investors were looking for more after the Juno Therapeutics buyout rumors yesterday.
Other CAR-T stocks : JUNO was up 1.15%, KITE was down 1.43% and ZIOP was down 0.43%today.
follow site Mixed Action Today In a Speculative Market
Market action is focused on small caps and speculation fed by deep pockets of cash and M&A ideas.
source link Several Rayno Life Science Stocks Were Up: ALKS, FCSC, FMI, RXDX, SGEN
Looks like a bit of a sell-off with a lot of the big clinical news already reflected in the stocks. Indices were down or flat still unable to move through the triple top. But speculation in some story stocks remains robust like Gene therapy or CAR-T–BLUE. Former high flier Juno Therapeutics (JUNO) was up 6.6% to $56.57 on a Bloomberg mention on a Street Insider comment that Astra Zeneca (AZN) was considering a buyout of the Company. The companies had no comment. JUNO at ASCO on B-cell Cancer Therapy from Juno demonstrated encouraging clinical responses in B-cell cancers. JUNO has five clinical stage products in development.
In the CAR-T area CLLS, KITE and ZIOP were also up in concert but BLUE missed the high note down 1.3% but up 37.5% for one month!
See our past articles on CAR-T and immuno-oncology stocks as well as Mid -Cap leaders.
Other “immuno-oncology” losers: Celldex (CLDX) down 2.98%, Clovis Oncology (CLVS) down 4.82%, Medivation (MDVN) down 3.7%, PUMA Biotechnology (PUMA) a former high flier was down again 13.7% to the $146 level. PUMA still has a hefty $5.5 B market cap. Immunogen (IMGN) which soared yesterday gave a lot back down 9.13% to $14.
Only CLDX and CLVS above are on our focus list.
Rayno Large and Small Cap Motifs
Large caps were slightly down to flat tracking major ETFs.
Alkermes (ALKS) and Seattle Genetics (SGEN) with ASCO data for ADCETRIS were in the green.
Rayno Small Cap Motif
Fibrocell Science (FCSC) up 3.99% to $4.95.
Foundation Medicine (FMI) up 1.31% to $35.46
Ignyta (RXDX) continues to run up 6.24% to $15.83