Today’s Research Reports on Stocks to Watch: Valeant Pharmaceuticals and Celsion Corporation
Valeant may be selling off more units soon to pay off its nearly $29 billion debt. The company just recently closed on its sale of its Dendreon subsidiary to Sanpower Group. Celsion shares exploded yesterday after the company revealed positive data from its Phase lb dose escalating trial that combines its GEN-1 immunotherapy with neoadjuvant chemotherapy.
RDI Initiates Coverage on:
Valeant Pharmaceuticals Intl Inc.
Valeant Pharmaceuticals’ shares declined 3.15 percent to close at $16.60 a share on Thursday. The stock traded between $16.57 and $17.31 on volume 18.72 million shares traded. There was no significant news but with last month’s announcement that the company would be closing the sale of its equity interests in its former subsidiary Dendreon Pharmaceuticals LLC, there could be more sell off of business units to pay off the company’s $29 billion debt. The company sold Dendreon Pharmaceuticals to Sanpower Group Co. Ltd. for almost $820 million. Last month the company also announced that it would be selling its iNova Pharmaceuticals business to a company owned by funds managed by Pacific Equity Partners and The Carlyle Group for $930 million in cash.
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Celsion’s shares were on a rampage on Wednesday, closing up 19.21% on roughly 10 million shares more traded than usual. The biotech company broke out after it was revealed an update on its Phase lb dose escalating clinical trial which combined the company’s IL-12 gene mediated immunotherapy GEN-1, with neoadjuvant chemotherapy for the treatment of newly-diagnosed patients with Stage III and IV ovarian cancer followed by interval de-bulking surgery. The company announced that out of seven patients who had received GEN-1 treatment over a year ago and are being followed, "only one patient’s cancer has progressed after 11.7 months." The company remarked, "This compares favorably to the historical median progression free survival (PFS) of 12 months for newly-diagnosed patients with Stage III and IV ovarian cancer who undergo neoadjuvant chemotherapy followed by interval de-bulking surgery." Shares soared nearly 25% yesterday after traders learned of the results.
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Our Actionable Research on Celsion Corporation (NASDAQ: CLSN) and Valeant Pharmaceuticals Intl Inc. (NYSE: VRX) can be downloaded free of charge at Research Driven Investing.
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