Shares of Opko Health Inc. (NYSE:OPK) ended Wednesday session in red amid volatile trading. The shares closed down -0.11 points or -1.11% at $9.78 with 3.62 million shares getting traded. Post opening the session at $9.95, the shares hit an intraday low of $9.75 and an intraday high of $10.00 and the price vacillated in this range throughout the day. The company has a market cap of $5.28 billion and the numbers of outstanding shares have been calculated to be 547.44 million shares.
Opko Health Inc. (OPK) announced that senior management will present at the Jefferies Healthcare Conference in New York City on Thursday, June 9, 2016 at 11:30 AM (EDT).
The presentation will be webcast on the OPKO Investor Relations page of the corporate website at www.opko.com. To access the live webcast please log on to the OPKO site approximately fifteen minutes before the presentation to register and download any necessary audio software. The audio presentation will be available at this link for a limited time after the live presentation.
Shares of Biogen Inc (NASDAQ:BIIB) ended Wednesday session in green amid volatile trading. The shares closed up +1.31 points or 0.52% at $254.17 with 3.61 million shares getting traded. Post opening the session at $255.03, the shares hit an intraday low of $251.41 and an intraday high of $256.79 and the price vacillated in this range throughout the day. The company has a market cap of $48.57 billion and the numbers of outstanding shares have been calculated to be 219.05 million shares.
Biogen Inc (BIIB) on June 7, 2016 reported top-line results from the Phase 2 SYNERGY study evaluating opicinumab (anti-LINGO-1), an investigational, fully human monoclonal antibody being developed as a potential neuroreparative therapy in people with relapsing forms of multiple sclerosis (RMS). In the study, opicinumab missed the primary endpoint, a multicomponent measure evaluating improvement of physical function, cognitive function, and disability. However, evidence of a clinical effect with a complex, unexpected dose-response was observed.
“It is only through taking thoughtful, calculated risks that we can bring major advances to patients,” said Alfred Sandrock, M.D., Ph.D., executive vice president and chief medical officer at Biogen. “Achieving repair of the human central nervous system through remyelination would be a substantial achievement, and while we missed the primary endpoint, the SYNERGY study results suggest evidence of a clinical effect of opicinumab. Due to the complex nature of the data set, we continue to analyze the results to inform the design of our next study.”
Opicinumab also did not meet the secondary efficacy endpoint in SYNERGY, which evaluated the slowing of disability progression. Safety and pharmacokinetics (PK) were also assessed as secondary endpoints. Opicinumab was generally well-tolerated and the safety profile was consistent with what has been observed in prior studies. Opicinumab showed a linear, well-behaved PK profile over the studied dose range. SYNERGY results will be presented at future medical meetings.