Stockwatch: Dynavax, CoLucid Investors Should Beware The Standard Of Care
Dynavax and CoLucid benefited from share price surges last week. But were investors throwing caution to the wind and overlooking the challenges and lessons presented by standard of care therapies? Meanwhile, bluebird bio’s stock soared again.
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In acquiring biotech CoLucid and its Phase III acute migraine candidate lasmiditan for $960m, Lilly gets back an asset it discovered and out-licensed more than a decade ago. The pharma hopes to pair the 5-HT1F agonist with galcanezumab to create a two-drug migraine franchise.
Prospects that CoLucid Pharmaceuticals’ lead asset might offer a viable new class of migraine treatment are brighter following the release of positive Phase III data showing lasmiditan helps twice as many patients to be headache-free after two hours versus a placebo.
FDA calls off November meeting to give 'more time to review and resolve several outstanding issues' with adjuvanted hepatitis B vaccine; Dynavax says agency determined meeting was not necessary to ensure regulatory decision by Dec. 15 goal date.