We are also in advanced discussions with multiple other government bodies and we hope to announce additional supply agreements soon. With its oral delivery mechanism, Gastrointestinal targeted therapies, and women's health tests, the company has potential despite generating meager revenues. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets. This designation was granted based on preliminary data from Phase 1/2 studies that are currently ongoing in the United States and Germany as well as animal immunogenicity studies. The Pfizer agreement comes less than a week after Tempus announced a partnership with Actuate Therapeutics to discover biomarkers of response to a cancer drug. InvestorsObserver's PriceWatch Alerts are based on our proprietary scoring methodology. Premier Inc. (NASDAQ: PINC), through its ProvideGx program, has partnered with Pfizer Inc. to supply five essential medications to healthcare providers, helping to meet the immediate and long-term supply needs of medications necessary to a range of patient care interventions, including some that have been critical during the COVID-19 pandemic. Initiated a follow-on clinical device performance study evaluating the performance of the DDS device in patients with active ulcerative colitis. However, despite losses, the company is moving forward with operations. Clinical collaborators presented patient data exploring potential causes for the 30% of patients who are primary non-responders to anti-TNF therapies during the 17th Congress of ECCO. Thinking aloud, Progenity's approach to partnering with a drug developer, and making use of its own alternative ("drug") delivery mechanism reminds me of TFF Pharmaceuticals (TFFP), which I covered last month. Additionally, the average PROG price target of $3.00 puts the upside potential at 34.5%. Operating expenses were $20.6 million for the three months ended December 31, 2021, compared to $28.5 million for the three months ended December 31, 2020. In some cases, you can identify forward-looking statements by terms such as may, might, will, objective, intend, should, could, can, would, expect, believe, design, estimate, predict, potential, plan or the negative of these terms, and similar expressions intended to identify forward-looking statements. SVB Securities analyst Andrew Berens said Pfizer could divest the bladder cancer therapy Padcev, to avoid anti-trust scrutiny. WebRT @Amref_Worldwide: The need to promote more partnerships and investments in building resilient health systems for Africa has never been more urgent than now. Participated in the fourth annual Inflammatory Bowel Disease (IBD) Innovate Product Development for Crohns & Colitis conference to highlight the important developments achieved so far with the companys Targeted Therapeutics program. Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of more than 4,100 U.S. hospitals and health systems and approximately 200,000 other providers and organizations to transform healthcare. They also achieved a $110 million reduction in annual operating expenses. Progenity also has an ongoing clinical study focused on ulcerative colitis patients, and has published an article in Crohns and Colitis 360. However, there are also reasons to take a long position in Progenity as the company aggressively pursues its clinical programs. Sninsky J. Barnes E. Zhang X. et al. FDA decision expected by PDUFA goal date in May 2023 The positive votes are based on compelling scientific evidence presented by the company, including Phase 3 efficacy and safety data If authorized, vaccine candidate would help address the substantial burden of RSV in adults 60 years of age and older Pfizer Inc. (NYSE: PFE) announced Alarmingly, there are 1.8 million IBD patients in the U.S. alone, and Progenity seeks to provide localized, topical delivery to the colon to address IBD. For this purpose, the company established a partnership with Augmenta Bioworks with the treatment aimed at patients with COVID-19. Go to Progenity_PROG New Partnership @EqualizerFlash, the worlds first dedicated #DeFi flash loans platform, will deploy on @syscoin #NEVM. (Photo credit: Getty Images). Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as the possibility of unfavorable new preclinical or clinical trial data and further analyses of existing preclinical or clinical trial data; risks associated with preliminary data; the risk that clinical trial data are subject to differing interpretations and assessments, including during the peer review/publication process, in the scientific community generally, and by regulatory authorities; whether and when data from the BNT162 mRNA vaccine program will be published in scientific journal publications and, if so, when and with what modifications; whether regulatory authorities will be satisfied with the design of and results from these and future preclinical and clinical studies; whether and when any biologics license applications may be filed in any jurisdictions for any potential vaccine candidates under the collaboration; whether and when any such applications may be approved by regulatory authorities, which will depend on myriad factors, including making a determination as to whether the products benefits outweigh its known risks and determination of the products efficacy and, if approved, whether any such vaccine candidates will be commercially successful; decisions by regulatory authorities impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of any such vaccine candidates, including development of products or therapies by other companies; manufacturing capabilities or capacity, including whether the estimated numbers of doses can be manufactured within the projected time periods indicated; whether and when a future production agreement with the United States will be reached; whether and when other supply agreements will be reached; uncertainties regarding the ability to obtain recommendations from vaccine technical committees and other public health authorities regarding any such vaccine candidates and uncertainties regarding the commercial impact of any such recommendations; and competitive developments. The company generated $7.7 million in revenues during the fourth quarter, out of which $7.2 million came from discontinued operations. The BNT162 vaccine candidates are undergoing clinical studies and are not currently approved for distribution anywhere in the world. Americans will receive the vaccine for free consistent with U.S. governments commitment for free access for COVID-19 vaccines. As part of the deal, the financial details of which were not disclosed, Pfizer has the option of licensing the technology for up to ten vaccines or therapies. I wrote this article myself, and it expresses my own opinions. It has indicated that a non-profit dose costs just $6.75, or 4.98, to produce, InvestorPlace->, InvestorPlace - Stock Market News, Stock Advice & Trading Tips. The company generated $74.3 million in revenues during the year ended December 31, 2020, of which $74.2 million were generated from discontinued operations. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Dr. Bram Verstockt will be presenting Wednesday on On the other hand, its difficult to predict if and when this type of event might occur. News provided by InvestorsObserver Oct 25, 2021, 09:31 ET NEW YORK, Oct. 25, This powerful public-private partnership will focus and expedite R&D activities required to combat COVID-19, says Maria C. Freire, Ph.D., President and Treatment of a disease of the gastrointestinal tract with a pde4 inhibitor CN112789042A (zh) 2018-09-28: 2021-05-11 Pfizer Inc: Pharmaceutical combination US6790856B2 (en) * Got a lot of experience in the 2008/2009 downturn when I lost a lot. Stocks rallied on Monday after pharmaceutical giant Pfizer announced positive results from phase three trials of its Covid-19 vaccine developed in partnership Progenity is transitioning away from molecular testing operations to focus on the development of biotherapeutics. Our partnership with Pfizer will help ensure a sustainable supply of five drugs that are essential not just during the pandemic, but also for routine and elective care longer term.. As a result, investors should keep in mind that this is a very high-risk speculative opportunity before adding any shares. Progenity will host a webcast and conference call to discuss the fourth quarter financial results and answer investment community questions today, Monday, March 28, 2022 at 4:30 p.m. Eastern / 1:30 p.m. Pacific. Just recently, the company made significant headway in this area as the United States Patent and Trademark Office (USPTO) issued several patents related to Progenitys ingestible technologies for the GI-delivered therapeutics. Now, there are diagnostics already available for the disease, but these include a battery of tests. Further data from the ongoing Phase 1/2 clinical trials of the four vaccine candidates will enable the selection of a lead candidate and dose level for an anticipated large, global Phase 2b/3 safety and efficacy study that may begin as early as later this month, pending regulatory approval. These statements involve known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from the forward-looking statements expressed or implied in this press release. Progenity's ingestible capsules have attracted the attention of Ionis Pharmaceuticals (IONS), with its novel antisense therapies designed to target mRNA in a highly specific manner. Pfizer announced an agreement with the U.S. government to supply 10 million treatment courses of its investigational COVID-19 oral antiviral candidate, WebValorisation Recherche Hscm, Limited Partnership: Progenity, Inc. With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. Progenity is making great strides in its transformation into a biotherapeutics company. Disclosure: At the time of publication, Samuel Smith did not have a position in any of the securities mentioned in this article. SAN DIEGO, March 28, 2022 (GLOBE NEWSWIRE) -- Progenity, Inc. (Nasdaq: PROG), an innovative biotechnology company, today provided a corporate update and Pfizer will also collaborate with Canadian biotech Acuitas Therapeutics to license its lipid nanoparticle (LNP) technology, which is used to deliver its mRNA-based Covid-19 vaccine into the body. Type a symbol or company name. https://ahaic.org . Thinking about buying stock in AT&T, Tesla, Pfizer, Progenity, or Energous Corp? From Wall Street analysts, PROG earns a Moderate Buy analyst consensus, based on 1 Buy rating, 1 Hold rating, and 0 Sell ratings in the past 3 months. As the company points out in its investor presentation, direct and noninvasive access to the GI tract could potentially improve the efficacy and safety outcomes. Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Cision Distribution 888-776-0942 For more information, visit www.progenity.com or follow the company on LinkedIn or Twitter. To see how InvestorsObserver's proprietary scoring system rates these stocks, view the InvestorsObserver's PriceWatch Alert by selecting the corresponding link. David Moadel for Beam is a highly promising biotech Its not psychologically easy to invest in a stock thats been trending downward. My aim is to provide differentiated insights, whether it is for investing, trading, or informational reasons. Fourth Quarter and Full Year 2021 Financial Results, Comparison of Three Months Ended December 31, 2021 and September 30, 2021. The company traded as low as $0.14 and last traded at $0.15. As the company points out, the addressable market for GI-targeted topical inflammatory bowel disease (IBD) therapeutic delivery exceeds $15 billion. About Pfizer: Breakthroughs That Change Patients Lives. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments. The Company exploits a wide array of computational discovery and therapeutic drug platforms for the rapid development of novel biopharmaceuticals. The deal cost Pfizer $650 million upfront, as CHARLOTTE, N.C.--(BUSINESS WIRE)-- Clinical collaborators presented patient data on indicators of efficacy in the treatment of GI disorders at the 17th Congress of the European Crohns and Colitis Organization (ECCO), and in an oral presentation during the 34th edition of the Belgian Week of Gastroenterology. This Startup Might Finally Cure Sickle Cell DiseaseAfter A Century Of Racist Neglect (Forbes), This Gene Editing Startup Raised $315 Million For A Next Generation Crispr Tool To Cure Rare Diseases (Forbes), Full coverage and live updates on the Coronavirus, This is a BETA experience. NEW YORK & MAINZ, Germany--(BUSINESS WIRE)-- Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) today announced the execution of an agreement with the U.S. Department of Health and Human Services and the Department of Defense to meet the U.S. governments Operation Warp Speed program goal to begin delivering 300 million doses of a vaccine for COVID-19 in 2021. Amy Rose Weve been committed to making the impossible possible by working tirelessly to develop and produce in record time a safe and effective vaccine to help bring an end to this global health crisis, said Dr. Albert Bourla, Pfizer Chairman and CEO. Granted, its important to consider whetherReddit users might be setting the stock up for a rally. Comparison of Full Year Ended December 31, 2021 and 2020. Fintel data shows the company having 35% of its float short. Progenitys vision is to transform healthcare to become more precise and personal by improving patient outcomes through localized treatment with targeted therapies and improving disease diagnoses. March 1, 2023. Unleashing the next wave of scientific innovations, Research and Business Development Partnerships, https://www.businesswire.com/news/home/20200722005438/en/, Understanding Six Types of Vaccine Technologies. Progenity and Ionis Pharmaceuticals Enter into Agreement. BioNTech has established a broad set of relationships with multiple global pharmaceutical collaborators, including Genmab, Sanofi, Bayer Animal Health, Genentech, a member of the Roche Group, Genevant, Fosun Pharma, and Pfizer. When financial asset traders talk about Progenity(NASDAQ:PROG) stock, oftentimes theyre not discussing the companys merits and challenges. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. Type a symbol or company name. The financial terms of Premiers agreement with Pfizer are not being disclosed. The borrow fee is 74.6% on shares. This includes more than 170 issued patents and pending applications, directed toward 17 inflammatory bowel disease targets. Progenity takes a multi-omics approach, using a combination of genomics, epigenomics, proteomics and metabolomics to improve disease diagnosis. Revolutionizing drug discovery. ET PROG earnings call for the period ending December 31, 2020. There were no safety issues and the plan is to conduct a similar study in UC (ulcerative colitis) patients in the first half of 2022. As an informed investor, you dont have to try to second-guess what social media traders might or might not do. The latest Tweets from progenity (@progenity): "Are you attending the Belgian Week of Gastroenterology #bwge? Forward-looking statements speak only as of the date they are made. No serious adverse events were reported. However, as part of shifting away from molecular testing operations to a development stage biotherapeutics play, there is less emphasis on the revenue generation factor, and, instead, concentrate on managing cash burn and optimizing capital allocation to the innovation pipeline. Investor Contact:Chuck PadalaManaging Director, LifeSci Advisorsir@progenity.com(917) 741-7792, Media Contact:Kristin SchaefferCG Lifemedia@progenity.com(858) 457-2436, Progenity, Inc.Condensed Consolidated Statements of Operations(Unaudited)(In thousands, except share and per share amounts), Net loss per share from continuing operations, basic and diluted, Net loss per share from discontinued operations, basic and diluted, Weighted average shares outstanding, basic and diluted, Net loss attributable to common stockholders, Net loss per share from discontinued operations, basic and diluted, Net loss per share attributable to common stockholders, basic and diluted, Progenity, Inc.Condensed Consolidated Balance Sheets(Unaudited)(In thousands), Prepaid expenses and other current assets, Current assets of disposal group held for sale, Long-term assets of disposal group held for sale, Accrued expenses and other current liabilities, Current portion of mortgages payable and capital lease obligations, Current liabilities of disposal group held for sale, Mortgages payable and capital lease obligations, net of current portion, Long-term liabilities of disposal group held for sale, Total liabilities and stockholders deficit, Musks Tesla Master Plan Disappoints With No Detail on New Cars, TREASURIES-Yields notch fresh highs as inflation threat lingers, UPDATE 1-China's job market better than expected in Jan-Feb: minister, Ukraine Latest: EU to Propose Plan to Boost Kyivs Ammo Supplies, US approves selling Taiwan munitions worth $619 million. 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