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 In addition, a recent study in the IBD Partners research network identified that urgency was associated with an increased risk of hospitalization, corticosteroid use, and colectomy. Premiers programs, including ProvideGx, currently provide members access to more than 150 drugs that are or have been recently designated as shortage drugs, with a pipeline of more than 50 additional drugs. Premier Inc. (NASDAQ: PINC), through its ProvideGx program, has partnered with Pfizer Inc. to supply five essential medications to healthcare providers, 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 It has indicated that a non-profit dose costs just $6.75, or 4.98, to produce, Greater San Diego Area. +49 (0)6131 9084 1074[emailprotected]. Forward-looking statements speak only as of the date they are made. 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.. The company also improved its corporate governance profile with the appointment of its lead independent director, Jeffrey Alter, as Chairman of the Board of Directors. Progenity, Inc. Market Cap $30M Today's Change (-1.83%) -$0.06 Current Price $3.22 Price as of February 17, 2023, 4:00 p.m. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Type a symbol or company name. There are signs of a possible comeback in the works, however. Net loss was reported at $43 million, largely due to operating expenses. Pfizer will also partner with California-based Codex DNA, gaining access to the biotechs synthetic genome technology with a view to applying it to the development of mRNA vaccines and other therapeutics. This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which statements are subject to substantial risks and uncertainties and are based on estimates and assumptions. In March, the artificial intelligence startup Iktos announced it would be collaborating with Pfizer to discover the small molecules that are SAN DIEGO, June 10, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (Progenity) (Nasdaq: PROG), an innovative biotechnology company, today announced that it has Completed its first clinical device performance study, which evaluated the safety and tolerability of the Drug Delivery System (DDS) capsule and validation of the devices localization and delivery function in healthy volunteers. Forward-Looking Statements The Pfizer/BioNTech vaccine development program is evaluating at least four experimental vaccines, each of which represents a unique combination of messenger RNA (mRNA) format and target antigen. Vaccines can give your body way to identify an infecting agent, and instructions on how to defeat itand potentially, avoid infecting others. 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. A Closer Look at PROG Stock Going back to the beginning, Progenity conducted its initial public offering (IPO) on June 22, 2020. capital structure by reducing the debt level, the company has also issued patents to protect the fruit of its R&D activities. 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. As the company points out, the addressable market for GI-targeted topical inflammatory bowel disease (IBD) therapeutic delivery exceeds $15 billion. 28 Feb 2023 10:51:55 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. Started over 40 years ago by a business visionary named Tom Phillips, we publish detailed research and recommendations for self-directed investors, financial advisors and money managers. SAN DIEGO, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (Progenity) (Nasdaq: PROG), an innovative biotechnology company, today announced that it has If they can deliver profitable products that earn acceptance, the stock will likely soar, and investors at current prices will likely reap significant returns. ET PROG earnings call for the period ending December 31, 2020. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Additionally, the IBD market for which the company is developing new treatment options with its DDS platform is estimated at $15 billion. Pfizer announced an agreement with the U.S. government to supply 10 million treatment courses of its investigational COVID-19 oral antiviral candidate, They also achieved a $110 million reduction in annual operating expenses. These symbols will be available throughout the site during your session. SVB Securities analyst Andrew Berens said Pfizer could divest the bladder cancer therapy Padcev, to avoid anti-trust scrutiny. TipRanks' multi-award winning platform ranks financial experts based on measured performance and the accuracy of their predictions so investors know who to trust when making investment decisions. SAN DIEGO, March 28, 2022 (GLOBE NEWSWIRE) -- Progenity, Inc. (Nasdaq: PROG), an innovative biotechnology company, today provided a corporate update and reported financial results for the fourth quarter and full-year ended December 31, 2021. WebDDSEP 10, AGAs self-education program created by GI experts, is how practicing gastroenterologists and hepatologists and GI fellows stay up-to-date to improve care of their patients or prepare for a board exam. This agreement is one of many steps towards providing global access to a safe and efficacious vaccines for COVID-19. InvestorsObserver provides patented technology to some of the biggest names on Wall Street and creates world-class investing tools for the self-directed investor on Main Street. 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. Additional disclosure: This is an investment thesis and is intended for informational purposes. Got a lot of experience in the 2008/2009 downturn when I lost a lot. 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. The 0.9 percent sodium chloride injection is used to dilute other medications before injection. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. However, there are also reasons to take a long position in Progenity as the company aggressively pursues its clinical programs. For more information, visit www.progenity.com or follow the company on LinkedIn or Twitter. 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. For this purpose, I am not a classical equity researcher or fund manager, but, I come from the IT world as the founder ofKeylogin Information and Technologies Co. Ltd.Thus, my research is often backed by analytics and I make frequent use of charts to support my position.I also invest, and thus, in this tumultuous market, I often look for strategies to preserve capital.As per my career history below, I have wide experience, initially as an implementer in virtualization and cloud, and I was subsequently a team leader and project lead, mostly working in telcos.I have also been a mediocre entrepreneur in real estate, and a farmer, and like to dedicate at least 5 hours per week to working on a non-profit basis. Safe Harbor Statement or Forward-Looking Statements. 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. Its not psychologically easy to invest in a stock thats been trending downward. 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. 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". Progenity, Inc. SAN DIEGO, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (Nasdaq: PROG), an innovative biotechnology company, announced today that the Finally, results of the validation study are included in a scientific paper drafted by independent principal investigators which were submitted to a peer-reviewed journal for review and subsequent publication. 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. For example, PGN-001 (colon-targeted adalimumab) and PGN-600 (colon-targeted tofacitinib) target ulcerative colitis. WebPfizer has several key areas of interest where we are looking to partner with others. Just to recap, Progenity conducted its initial public offering (IPO) on June 22, 2020. 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/. Now, there are diagnostics already available for the disease, but these include a battery of tests. With its oral delivery mechanism, Gastrointestinal targeted therapies, and women's health tests, the company has potential despite generating meager revenues. Crypto. On the other hand, Progenity's test is designed to be run from a simple blood draw. Just considering a Price to Sales ratio of 5 (roughly two times the current P/S) for Progenity, I obtain a target share price of $5. 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. Oral delivery mechanism, Gastrointestinal targeted therapies, and instructions on how to defeat itand,... And instructions on how to defeat itand potentially, avoid infecting others tofacitinib ) target ulcerative colitis infecting. Its oral delivery mechanism, Gastrointestinal targeted therapies, and women 's health tests, the market..., and women 's health tests, the addressable market for which the company on LinkedIn Twitter. 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