Special Update – PCYC – A Final Word – It is with bittersweet sorrow that ABBV stepped in to acquire Pharmacyclics at $261.25 per share or $21 billion in a mix of cash and stock. In our 27 years researching biotech stocks, we have never witnessed the creation of wealth in such a short time with the[…]

Special Update - PCYC – Imbruvica’s Flies To Blockbuster Status; Solid Tumor/I-O Potential Even Larger – Raising TARGET PRICE – At the JPM presentation, PCYC surprised everyone with guidance for Imbruvica sales. The Company, one of the most conservative with regards to public forecasts, had not previously provided any number with regards to Imbruvica sales. Moreover,[…]

PCYC – EHA Abstracts & Marketing VP Quits – Can It Get Any Noisier Right Before ASCO? The availability of EHA abstracts and the announcement that Paula Boultbee, a VP of Marketing, has resigned – taken together has led to significant pressure on PCYC stock. After the ASCO abstracts revealed to us that Imbruvica’s competitive[…]

PCYC – Imbruvica Approved For CLL, The Big Market – The FDA has approved Imbruvica for the treatment of relapsed/refractory chronic lymphocytic leukemia (R/R CLL). In our view, CLL approval was highly likely to occur before the 2/28 PDUFA date. However, some believed that a) an FDA advisory panel was needed; and/or b) the RESONATE[…]

 Special Update BioInvest News for PCYC  – Buyout Rumor Lifts Cancer Stocks – Bloomberg’s report today that Pharmacyclics is in play with partner JNJ and Novartis leading the potential bidders sent PCYC stock up 16%.  The story almost immediately lifted the stocks of a slew of biotech names that are developing cancer drugs, as traders quickly pounced on[…]

Special Update – PCYC Scores VA Contract, PCYC Shares Still Undervalued – In breaking news, PCYC has been awarded a large Veterans Affairs (VA) contract for Imbruvica.   Details – VA – A Large Buying Group: The following information was posted today (dated September 4, 2014)   Solicitation Number: VA797P14R0033 Contract Award Date: September 4,[…]

PCYC – Imbruvica Handily Beats Consensus, Co. Issues Ultra-Conservative Guidance, Autoimmune Underway, ASCO Nearing & An MM Signal Note – The Shorts Last Gasp PCYC shares have come under pressure after posting $56 m. in Imbruvica sales ($52 m. end user sales), well above $41 m. consensus. The company issued initial guidance for the rest[…]

PCYC – IMBRUVICA RESONATES – Pharmacyclics has stopped the Phase III RESONATE trial early due to positive efficacy. The trial was discontinued early because the primary and key secondary endpoints of progression-free survival (PFS) and overall survival (O/S) were met. As a reminder, RESONATE is a global Phase III trial testing ibrutinib versus ofatumumab in[…]

Special Update BioInvest News for PCYC  – Comments On The JNJ/NVS Acquisition Article On Bloomberg – For a long time, our view was that Imbruvica was a blockbuster drug, may be the best selling cancer drug ever, and its future continues to get brighter. With $1 billion in U.S. sales alone predicted for its second year on[…]

SPECIAL UPDATE – PCYC – GILD Severely Restrictive Zydelig Label Underscores Imbruvica’s Superior Profile – Reiterate BUY – Gilead received approval midday for Zydelig (idelalisib) for three blood cancers – refractory CLL, indolent FL and SLL – some what ahead of the August/September PDUFA dates.  While the approvals were widely expected, the strict BLACK BOX[…]

PCYC – ASH DATA CONTINUES TO DIFFERENTIATE IBRUTINIB DESPITE THE NOISE – REITERATE BUY – Despite the aggressive stock sell-off, data at the ASH conference this past week further cements ibrutinib as the new standard of care in MCL and CLL. While updated data from GILD (idelalisib, Syk inhibitor), Roche (Rituxan, GA-101), AbbVie (ABT-199), INFI[…]