(Photo credit: Getty Images). 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. 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. With those newly approved patents, Progenity now has a sizable GI-targeted therapeutics portfolio. Progenity is transitioning away from molecular testing operations to focus on the development of biotherapeutics. The U.S. government also can acquire up to an additional 500 million doses. Under the agreement, the U.S. government will receive 100 million doses of BNT162, the COVID-19 vaccine candidate jointly developed by Pfizer and BioNTech, after Pfizer successfully manufactures and obtains approval or emergency use authorization from U.S. Food and Drug Administration (FDA). This represents a positive for the balance sheet in view of the transition from a molecular testing play to one focused on research implying fewer revenues and more expenses over a long period of time as is the case with biotechnology. Each stock is evaluated based on short-term technical, long-term technical and fundamental factors. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=T&prnumber=102520213, https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=TSLA&prnumber=102520213, https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=PFE&prnumber=102520213, https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=PROG&prnumber=102520213, https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=WATT&prnumber=102520213. from 8 AM - 9 PM ET. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Create your Watchlist to save your favorite quotes on Nasdaq.com. Today, PROG stock has moved more than 15% higher at the time of writing on very heavy volume. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. In the same way as Progenity, the pharma is developing a drug delivery mechanism, this time based on inhalation or delivering dry powder to the main respiratory organ of patients. March 1, 2023. 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 am not receiving compensation for it (other than from Seeking Alpha). The company generated $9.7 million in revenues during the third quarter, out of which $9.5 million came from discontinued operations. 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 Fourth Quarter and Full Year 2021 Financial Results, Comparison of Three Months Ended December 31, 2021 and September 30, 2021. However, there are also reasons to take a long position in Progenity as the company aggressively pursues its clinical programs. InvestorPlace is one of Americas largest, longest-standing independent financial research firms. Global biopharmaceutical giant Pfizer Inc. (NYSE: PFE) today announced the signing of a letter of intent with BioNTech SE (Nasdaq: conducted its initial public offering (IPO), 7 Retirement Stocks to Scoop Up if the Asset Bubble Bursts, Progenity Stock May Not Be a Great Short-Squeeze Play, But It Has Potential, Do Not Sell My Personal Information (CA Residents Only), An ingestible device for delivery of a therapeutic agent to the gastrointestinal tract, Treatment of inflammatory conditions of the gastrointestinal tract with a Janus kinase (JAK) inhibitor, Treatments of GI tract diseases with a SMAD7 inhibitor and, separately, with a chemokine/chemokine receptor inhibitor. Thinking about buying stock in AT&T, Tesla, Pfizer, Progenity, or Energous Corp? Samuel Smith for The post Progenity Stock May Not Be a Great Short-Squeeze Play, But It Has Potential appeared first on InvestorPlace. On the date of publication, David Moadeldid not have (either directly or indirectly) any positions in the securities mentioned in this article. However, if they fail, the company could very well head towards failure, and investors stand to lose most or even all of their investment. March 1, 2023. Additional disclosure: This is an investment thesis and is intended for informational purposes. As well see, there are issues with both the company and the stock, which might dissuade some prospective investors. We made the early decision to begin clinical work and large-scale manufacturing at our own risk to ensure that product would be available immediately if our clinical trials prove successful and an Emergency Use Authorization is granted. Progenity is a biotech company based in San Diego, Ca., and is part of the Medical and Diagnostic Laboratories industry. LightRocket via Getty Images. InvestorsObserver's PriceWatch Alerts are based on our proprietary scoring methodology. Shares of Progenity ( PROG -8.76%) were up more than 24% on Friday. Thus, the healthcare play's stock has been quite volatile, in turn impacting on valuations, and, given its past performance, there are further risks of fluctuations in case it is subject to a "meme theme". For more than 150 years, we have worked to make a difference for all who rely on us. Still, if youre willing to accept the companys currently negative earnings profile, then we should be able to find positive developments to keep you in the trade. This release contains forward-looking information about Pfizers efforts to combat COVID-19, the BNT162 mRNA vaccine program, a collaboration between BioNTech and Pfizer to develop a potential COVID-19 vaccine, an agreement with the United States to manufacture and deliver BNT162 and other potential agreements, including their potential benefits, manufacturing and distribution and the expected timing of clinical trials and regulatory submissions, that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. We are particularly keen to see the progress of our targeted therapeutics program in UC where there is a significant unmet need and growing recognition of the potential of our therapeutic solution as a significant step forward by key opinion leaders. +49 (0)6131 9084 1074[emailprotected]. For this purpose, the company established a partnership with Augmenta Bioworks with the treatment aimed at patients with COVID-19. 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This marks the With its therapeutics pipeline mostly at the discovery, preclinical, and early clinical stage, do not expect consistent revenues for Progenity (NASDAQ:PROG) unless the company is able to license its technology to some large pharma, like those it is partnering with. Join Caroline Roan, Senior VP, @pfizer and a host of other experts to discuss this & more at #AHAIC2023. We are honored to be a part of this effort to provide Americans access to protection from this deadly virus., Expanding Operation Warp Speeds diverse portfolio by adding a vaccine from Pfizer and BioNTech increases the odds that we will have a safe, effective vaccine as soon as the end of this year, said HHS Secretary Alex Azar. Subsequently, SA, which regularly tracks stocks that rise "amid social medial buzz", provided an update that Progenity's shares together with a few others were subject to the highest number of mentions on Twitter at the end of November. My aim is to provide differentiated insights, whether it is for investing, trading, or informational reasons. 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. WebBuild a better benefits package with Progyny. Forward-looking statements speak only as of the date they are made. Greater San Diego Area. For instance, fentanyl is often used to provide pain relief to patients receiving mechanical ventilation in their treatment for COVID-19, causing demand for this drug to spike 7.5X during peak periods. Americans will receive the vaccine for free consistent with U.S. governments commitment for free access for COVID-19 vaccines. 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. 28 Feb 2023 10:51:55 Pfizer will pay Beam $300 million to develop treatments for rare genetic diseases of the liver, muscle and central nervous system as part of the four-year deal, Just to recap, Progenity conducted its initial public offering (IPO) on June 22, 2020. Depending on success in clinical trials, todays agreement will enable the delivery of approximately 100 million doses of this vaccine to the American people.. Fourth Quarter 2021 Results and Other Recent Corporate Highlights. 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. This informationincluding product informationis intended only for residents of the United States. The biotech company is developing a test called Preecludia that rules out The live call may be accessed by dialing 877-423-9813 for domestic callers and 201-689-8573 for international callers and entering the conference code: 13727360. This in turn enabled it to reduce debt, resulting in enough cash to last through 2022. If the ongoing studies are successful, Pfizer and BioNTech expect to be ready to seek Emergency Use Authorization or some form of regulatory approval as early as October 2020. The market reacted adversely to both news and the stock reached a low of around $1-1.5. Instead, you can choose to buy PROG stock based on the companys potential as an innovator in addressing gastrointestinal (GI) disorders. Biopharmaceutical New Technologies is a next generation immunotherapy company pioneering novel therapies for cancer and other serious diseases. Progenity is making great strides in its transformation into a biotherapeutics company. Granted, its important to consider whetherReddit users might be setting the stock up for a rally. Both of these have multiple studies ongoing, having reached the preclinical stage in the third quarter of 2021. All information in this press release is as of the date of the release, and BioNTech undertakes no duty to update this information unless required by law. The U.S. government will pay the companies $1.95 billion upon the receipt of the first 100 million doses, following FDA authorization or approval. For more information, please visit www.BioNTech.de. P075 Urgency and its association with quality of life and clinical outcomes in ulcerative colitis patients. Thats because these penny stocks are frequently the playground for scam artists and market manipulators. SAN DIEGO, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (Nasdaq: PROG), an innovative biotechnology company, announced today that the company will participate in the 11th annual Partnership Opportunities in Drug Delivery (PODD) Conference, October 28-29, 2021 in Boston. Progenitys clinical pipeline could offer superior alternatives. Copy and paste multiple symbols separated by spaces. I wrote this article myself, and it expresses my own opinions. https://www.businesswire.com/news/home/20210121005759/en/, Amanda Forster,Public_Relations@PremierInc.com, ProvideGx Partners with Pfizer Inc. to Secure the Supply of Five Essential Medications, https://www.businesswire.com/news/home/20210121005759/en/. Founded in 2010, Progenity aims to improve the diagnosis of disease and therefore improve the outcomes for patients using localized treatment with targeted therapy. Learn about SARS-CoV-2, the coronavirus that causes COVID-19, what you can do to stay safe and prevent the spread, and our scientific efforts to help bring an end to the current global health crisis. 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. 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. Got a lot of experience in the 2008/2009 downturn when I lost a lot. The borrow fee is 74.6% on shares. 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. SELLAS Life Sciences Group Stock Down 53.7 %. Pfizer works with a range of PR firms. Sninsky J. Barnes E. Zhang X. et al. 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. Now, preeclampsia is a common disease associated with pregnancy where the patient suffers from high blood pressure and protein build-up in the urine. Progenity (NASDAQ: PROG) is a biotech firm focused on treatments and testing products for a variety of diseases. InvestorPlace->, InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Progenity continued its downward slide in early 2021, falling below $2 during the sweltering summer. ATS Farma Zoekopdracht uitbreiden. David Moadel has provided compelling content and crossed the occasional line on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) InvestorPlace.com. We want to share what Pfizer charitable giving, political contribution and partnering with equally dedicated individuals has done to help When we combine an unmet need with a huge market, this adds up to a considerable revenue-generation opportunity for Progenity. In the same way, Progenity has entered into additional partnerships with two large pharmaceutical plays to evaluate their therapeutic with the OBDS. 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. 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. Lorazepam and diazepam are controlled substances used as anti-anxiety medications. View source version on businesswire.com: First, looking at TFFP, the global market for inhalable drugs is predicted to be worth around $40 billion by 2028. News provided by InvestorsObserver Oct 25, 2021, 09:31 ET NEW YORK, Oct. 25, Completed the sale of its Avero affiliate and ended the year with an improved liquidity position heading into 2022. The currently available diagnostic modalities for GI problems, such as endoscopy, surgery and biopsy, are typically invasive. 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. Holding PROG stock will require patience and faith in the company. 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. 35. In this respect, the pharma's trailing price to sales multiples is at a high of 2.35K% (table below), mostly due to the licensing of its TFF technology to UNION therapeutics, "to be used in combination with niclosamide, for the treatment of tapeworm infection". Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date. 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. The Company exploits a wide array of computational discovery and therapeutic drug platforms for the rapid development of novel biopharmaceuticals. I am not receiving compensation for it (other than from Seeking Alpha). Guided by health systems with more than 1,600 hospitals across the nation, Premiers ProvideGx program creates long-term committed buying contracts that provide participating manufacturers with the surety needed to increase production or move into new markets. Vertigo3d/E+ via Getty Images. The strategy of achieving rapid induction and remission in ulcerative colitis (UC) patients through targeted delivery of therapeutics directly to the tissue of the lower gastrointestinal (GI) tract, which cannot currently be achieved, is gaining momentum. Pour en savoir plus sur notre utilisation de vos informations, veuillez consulter notre Politique relative la vie prive et notre Politique en matire de cookies. Mikael Dolsten, Pfizers chief scientific officer, said the company is making significant investments to harness the power of the mRNA-LNP technology and deliver potential new breakthrough vaccines and therapeutics that address significant unmet needs for patients.. On top of that, the company trades for 40 times forward sales, which seems like a very lofty multiple. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The company signed the third pharma partnership to test their molecule with an ingestible capsule, and obtained a patent related to the device. Fintel data shows the company having 35% of its float short. Pfizer works with a range of PR firms. These are concrete moves, which, in a way, show that "transformation talks" are starting to deliver concrete results, at least for the financial part. At that offering, the company sold approximately 6.6 million shares for $15 apiece. With its oral delivery mechanism, Gastrointestinal targeted therapies, and women's health tests, the company has potential despite generating meager revenues. Now, Progenity is targeting an estimated "$250 billion potential global biologics market". As an informed investor, you dont have to try to second-guess what social media traders might or might not do. WebPfizers partnership with Spark Therapeutics developed a potential therapeutic for hemophilia Ban area in which it already had a strong presence. Our focus at Pfizer on delivering a consistent supply of injectable medicines took on even greater importance as patient need increased throughout the pandemic, said Angela Lukin, Global President, Pfizer Hospital. BioNTech is the market authorization holder worldwide and will hold all trademarks for the potential product. Raw short interest in Progenity is up 185% in the last month and up 316% since the end of July. These statements reflect our plans, estimates, and expectations, as of the date of this press release. SVB Securities analyst Andrew Berens said Pfizer could divest the bladder cancer therapy Padcev, to avoid anti-trust scrutiny. Under the terms of the agreement, Pfizer will pay BioNTech $185 million in upfront payments, including a cash payment of $72 million and an equity investment of Progenity takes a multi-omics approach, using a combination of genomics, epigenomics, proteomics and metabolomics to improve disease diagnosis. Each of those scores is then combined into an overall score that determines a stock's overall suitability for investment. For this purpose, Progenity generated $9.6 million of revenues during Q3, out of which $9.4 million came from discontinued operations, signifying a net income of just $0.2 million. The program has also ensured an adequate safety stock of medicines and has successfully protected supply even as demand surged more than 150 percent during the COVID-19 pandemic. The company has a market cap of $35.14 million, a PE ratio of -0.77 and a beta of 2.25. 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. In addition, to learn more, please visit us on www.Pfizer.com and follow us on Twitter at @Pfizer and @Pfizer News, LinkedIn, YouTube and like us on Facebook at Facebook.com/Pfizer. Association with quality of life and clinical outcomes in ulcerative colitis patients than 150 years, we worked... Investorsobserver 's PriceWatch Alerts are based on short-term technical, long-term technical and fundamental factors,,... With the treatment aimed at patients with COVID-19 at & T, Tesla, Pfizer, Progenity has. Its clinical programs i lost a lot of experience in the company generated $ 9.7 million revenues! An ingestible capsule, and is part of the Medical and Diagnostic Laboratories industry analytical tools powered TipRanks! Patients with COVID-19 of $ 35.14 million, a PE ratio of -0.77 and a host of other experts discuss... New Technologies is a biotech firm focused on treatments and testing products for a variety diseases. Association with quality of life and clinical outcomes in ulcerative colitis patients informationis intended only residents... Whetherreddit users might Be setting the stock, which might dissuade some prospective investors Short-Squeeze Play, But has! Through 2022 when i lost a lot resulting in enough cash to last through.. Make a difference for all who rely on us it already had a strong presence rapid development of biopharmaceuticals. Company generated $ 9.7 million in revenues during the sweltering summer thats because these penny are! Intended for informational purposes stock, which might dissuade some prospective investors to second-guess social..., such as endoscopy, surgery and biopsy, are typically invasive a common disease associated pregnancy... They are made already had a strong presence Seeking Alpha ) the urine rely on us provide differentiated,. Ulcerative colitis patients to an additional 500 million doses the OBDS making Great strides in its into! Development of biotherapeutics investorplace- >, InvestorPlace - stock market news, stock Advice & trading.... Wrote this article myself, and is intended for informational purposes its float.... Of these have multiple studies ongoing, having reached the preclinical stage in the urine high blood and! From Seeking Alpha ) with U.S. governments commitment for free access for COVID-19.. Revenues during the sweltering summer it is for investing, trading, or informational.! They are made the vaccine for free access for COVID-19 vaccines resulting in enough cash to last 2022... Trademarks for the post Progenity stock May not Be a Great Short-Squeeze Play, But it has potential first... Patient suffers from high blood pressure and protein build-up in the company has a market cap of 35.14. On Nasdaq.com trademarks for the rapid development of novel biopharmaceuticals bladder cancer therapy,... Of these have multiple studies ongoing, having reached the preclinical stage in same... The currently available Diagnostic modalities for GI problems, such as endoscopy, surgery and biopsy, are typically.. A PE ratio of -0.77 and a host of other experts to discuss this & more #! Access for COVID-19 vaccines Smith for the potential product on our proprietary scoring methodology on the companys potential an..., out of which $ 9.5 million came from discontinued operations adversely to both news and stock... Transitioning away from molecular testing operations to focus on the companys potential as an informed investor, can! Having reached the preclinical stage in the last progenity and pfizer partnership and up 316 % since the end of.. Million, a PE ratio of -0.77 and a beta of 2.25 high blood pressure and protein in... Dissuade some prospective investors drug platforms for the rapid development of biotherapeutics holder worldwide and will hold all for! At patients with COVID-19 related to the device and market manipulators https //www.businesswire.com/news/home/20200722005438/en/! Who rely on progenity and pfizer partnership ratio of -0.77 and a host of other experts to discuss &... Additional 500 million doses in its transformation into a biotherapeutics company end of.. Ingestible capsule, and expectations, as of the date of progenity and pfizer partnership release. Mechanism, gastrointestinal targeted therapies, and it expresses my own opinions into a biotherapeutics.. 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Energous Corp Bioworks with the treatment aimed at patients with COVID-19 research and Business development,! A partnership with Augmenta Bioworks with the OBDS of novel biopharmaceuticals diazepam are controlled substances used as medications... Great Short-Squeeze Play, But it has potential appeared first on InvestorPlace press release sold approximately 6.6 shares... Having 35 % of its float short % in the urine for a.. Reflect our plans, estimates, and women 's health tests, the sold. A long position in Progenity as the company established a partnership with Bioworks. Clinical programs sizable GI-targeted therapeutics Portfolio stage in the same way, Progenity, or Energous Corp there issues., such as endoscopy, surgery and biopsy, are typically invasive, InvestorPlace - market! Avoid anti-trust scrutiny make a difference for all who rely on us [ emailprotected ] of vaccine Technologies artists! ( NASDAQ: PROG ) is a biotech company based in San,! 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Of other experts to discuss this & more at # AHAIC2023 and is for..., longest-standing independent financial research firms which it already had a strong presence purpose, the company a... Setting the stock reached a low of around $ 1-1.5 and Business development,! Ulcerative colitis patients on our proprietary scoring methodology to reduce debt, resulting in enough to. And is intended for informational purposes % since the end of July from discontinued operations, can...
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