Most women will give birth to a healthy baby and recover quickly, but, if left untreated, this disease causes serious complications. As a result, investors should keep in mind that this is a very high-risk speculative opportunity before adding any shares. Since then I do my own research and have fallen in love with Seeking Alpha because of the unique perspectives it provides to someone investing hard-earned money as well as access to some of the best financial advisors.We live only once but can have many "investment lives" especially when investing in individual stocks. Cision Distribution 888-776-0942 En cliquant sur Refuser tout, vous refusez tous les cookies non essentiels et technologies similaires, mais Yahoo continuera utiliser les cookies essentiels et des technologies similaires. In the same way, Progenity has entered into additional partnerships with two large pharmaceutical plays to evaluate their therapeutic with the OBDS. 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. Mr. Mohanty continued, We are on track to complete our transformation in the first half of 2022, and look forward to the execution of important clinical study phases of our therapeutics programs this year, which we believe will confirm our early lab and animal data. 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. Progenity is making great strides in its transformation into a biotherapeutics company. "The Pfizer patent application approved, August 31st, 2021, is the very first patent that shows up in a list of over 18,500 for the purpose of remote contact tracing of Additionally, the average PROG price target of $3.00 puts the upside potential at 34.5%. In March, the artificial intelligence startup Iktos announced it would be collaborating with Pfizer to discover the small molecules that are Net loss from discontinued operations was $68.9 million for the year ended December 31, 2021 and net loss per share for discontinued operations was $0.72, compared to net loss from discontinued operations of $87.4 million and net loss per share for discontinued operations of $3.18 for the year ended December 31, 2020. Pornpak Khunatorn/iStock via Getty Images. No serious adverse events were reported. Progenity also has an ongoing clinical study focused on ulcerative colitis patients, and has published an article in Crohns and Colitis 360. Premier plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. 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. Type a symbol or company name. The expectation is for generating additional data in the coming months, initially using known drugs with established safety and efficacy profiles. WebValorisation Recherche Hscm, Limited Partnership: Progenity, Inc. 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. Progenity is transitioning away from molecular testing operations to focus on the development of biotherapeutics. On July 22, Pfizer announced a global collaboration with Arvinas, which has a breast cancer treatment in phase 2 trials. Progenity, Inc. SAN DIEGO, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (Nasdaq: PROG), an innovative biotechnology company, today announced that the 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. Rather, theyre debating the short-squeeze potential. 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. 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. Fourth Quarter 2021 Results and Other Recent Corporate Highlights. These are not the first deals the company has made to further its mRNA offerings and it is already working on shingles and flu shots using the platform. 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. As an informed investor, you dont have to try to second-guess what social media traders might or might not do. InvestorPlace->, InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Join Caroline Roan, Senior VP, @pfizer and a host of other experts to discuss this & more at #AHAIC2023. Alarmingly, there are 1.8 million IBD patients in the U.S. alone, and Progenity seeks to provide localized, topical delivery to the colon to address IBD. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Ever since the first vaccine was developed in 1796 to treat smallpox,1 several different methods have been created to develop successful vaccines. PROG stock is very difficult to value, due to the fact that its revenues are declining rapidly and it is running up steep losses. 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". These symbols will be available throughout the site during your session. With those newly approved patents, Progenity now has a sizable GI-targeted therapeutics portfolio. Net loss was $92.9 million for the three months ended December 31, 2021 and net loss per share was $0.56, compared to net loss of $43.7 million and net loss per share of $0.46 for the three months ended September 30, 2021. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as the possibility of unfavorable new preclinical or clinical trial data and further analyses of existing preclinical or clinical trial data; risks associated with preliminary data; the risk that clinical trial data are subject to differing interpretations and assessments, including during the peer review/publication process, in the scientific community generally, and by regulatory authorities; whether and when data from the BNT162 mRNA vaccine program will be published in scientific journal publications and, if so, when and with what modifications; whether regulatory authorities will be satisfied with the design of and results from these and future preclinical and clinical studies; whether and when any biologics license applications may be filed in any jurisdictions for any potential vaccine candidates under the collaboration; whether and when any such applications may be approved by regulatory authorities, which will depend on myriad factors, including making a determination as to whether the products benefits outweigh its known risks and determination of the products efficacy and, if approved, whether any such vaccine candidates will be commercially successful; decisions by regulatory authorities impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of any such vaccine candidates, including development of products or therapies by other companies; manufacturing capabilities or capacity, including whether the estimated numbers of doses can be manufactured within the projected time periods indicated; whether and when a future production agreement with the United States will be reached; whether and when other supply agreements will be reached; uncertainties regarding the ability to obtain recommendations from vaccine technical committees and other public health authorities regarding any such vaccine candidates and uncertainties regarding the commercial impact of any such recommendations; and competitive developments. Pfizer announced an agreement with the U.S. government to supply 10 million treatment courses of its investigational COVID-19 oral antiviral candidate, If they can deliver profitable products that earn acceptance, the stock will likely soar, and investors at current prices will likely reap significant returns. The executives also remain confident that total operating expenses (again before stock-based compensation) will reach less than $25 million in the fourth quarter (chart below), as Progenity completes the cost reduction exercise associated with its lab operation. 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. The company generated $9.7 million in revenues during the third quarter, out of which $9.5 million came from discontinued operations. Revolutionizing drug discovery. In this context, operating expenses (excluding stock-based compensation expenses) were $32.7 million in Q3, representing a $9 million favorable variance compared to the previous guidance. Disclosure: At the time of publication, Samuel Smith did not have a position in any of the securities mentioned in this article. View source version on businesswire.com: 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. About Premier Inc. Shares of Progenity ( PROG -8.76%) were up more than 24% on Friday. WebGameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. The patent for Progenity is for its assessment of When typing in this field, a list of search results will appear and be automatically updated as you type. At the time of writing, nearly three times the average daily number 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. At that time, the company sold 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. Learn about specific ways our research is leading to medicines and vaccines that will benefit patients around the world. +49 (0)6131 9084 1074[emailprotected]. pharma, like those it is partnering with. The currently available diagnostic modalities for GI problems, such as endoscopy, surgery and biopsy, are typically invasive. Progenity and its associated key opinion leaders presented at important scientific conferences during the fourth quarter and, more recently, key data demonstrating the potential benefits of that therapeutic approach. Pfizer works with a range of PR firms. In addition to engagements with governments, Pfizer and BioNTech have provided an expression of interest for possible supply to the COVAX Facility, a mechanism established by Gavi, the Vaccine Alliance, the Coalition for Epidemic Preparedness Innovations (CEPI) and World Health Organization (WHO) that aims to provide governments with early access to a large portfolio of COVID-19 candidate vaccines using a range of technology platforms, produced by multiple manufacturers across the world. Progenitys clinical pipeline could offer superior alternatives. The products discussed herein may have different labeling in different countries. Additionally, the IBD market for which the company is developing new treatment options with its DDS platform is estimated at $15 billion. The two companies established a partnership back in April. Vaccines can give your body way to identify an infecting agent, and instructions on how to defeat itand potentially, avoid infecting others. The amount of money saved through streamlining operating expenses will be reallocated to R&D, with the release of funds being subject to performance-based milestones. With its oral delivery mechanism, Gastrointestinal targeted therapies, and women's health tests, the company has potential despite generating meager revenues. The latest Tweets from progenity (@progenity): "Are you attending the Belgian Week of Gastroenterology #bwge? This past year has unquestionably placed unprecedented demand on the drug supply chain, particularly for drugs used during mechanical ventilation of COVID-19 patients, said Premiers President, Michael J. Alkire. Progenity ( PROG -0.85%), a biotech company and a meme stock favorite, saw its shares decline more than 11% on Wednesday. Fourth Quarter and Full Year 2021 Financial Results, Comparison of Three Months Ended December 31, 2021 and September 30, 2021. I wrote this article myself, and it expresses my own opinions. In the fourth quarter Progenity made important progress in transforming into an innovation-led biotherapeutics company initially focused on its targeted and systemic biotherapeutics platforms. Treatment of a disease of the gastrointestinal tract with a pde4 inhibitor CN112789042A (zh) 2018-09-28: 2021-05-11 Pfizer Inc: Pharmaceutical combination US6790856B2 (en) * However, the stock is also subject to volatility risks as past performance shows it fluctuating amid "social media buzz". A Closer Look at PROG Stock Going back to the beginning, Progenity conducted its initial public offering (IPO) on June 22, 2020. Investor Relations 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. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. ET PROG earnings call for the period ending December 31, 2020. Progenity expressly disclaims any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The early data demonstrates that BNT162b1 is able to produce neutralizing antibodies in humans at or above the levels observed in the plasma from patients who have recovered from COVID-19, and this was shown at relatively low dose levels. View the full release here: https://www.businesswire.com/news/home/20200722005438/en/. Now, since medical research is synonymous with high expenses, I assess the way the cash is to be spent. German biotech BioNTech SE worked on cancer treatments, and was developing an influenza vaccine with Pfizer Inc., when its founder, Ugur Sahin, led the As well see, there are issues with both the company and the stock, which might dissuade some prospective investors. This makes sense as research implies a long lead time from discovery to commercialization. https://ahaic.org . RP has received consulting fees from Abbott, AbbVie, Alimentiv Amgen, Arena Pharmaceuticals, AstraZeneca, Biogen, Boehringer Ingelheim, Bristol-Myers Squibb, Celgene, Celltrion, Cosmos Pharmaceuticals, Eisai, Elan, Eli Lilly, Ferring, Galapagos, Fresenius Kabi, Genentech, Gilead Sciences, Glaxo-Smith Kline, JAMP Bio, Janssen, Merck, Mylan, To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. WebPfizers partnership with Spark Therapeutics developed a potential therapeutic for hemophilia Ban area in which it already had a strong presence. The company generated $60.6 million in revenues during the year ended December 31, 2021, of which $59.4 million were generated from discontinued operations. Operating expenses were $20.6 million for the three months ended December 31, 2021, compared to $30.7 million for the three months ended September 30, 2021. Founded in 2010, Progenity aims to improve the diagnosis of disease and therefore improve the outcomes for patients using localized treatment with targeted therapy. Raised $20 million through a registered direct offering and reduced its non-affiliated debt by 38% through an exchange offer of $20.2 million of convertible notes. 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. 22, Pfizer announced a global collaboration with Arvinas, which has a sizable GI-targeted therapeutics portfolio came..., 2021 and September 30, 2021 and September 30, 2021 area in which it already had strong! Were up more than 24 % on Friday focused on ulcerative colitis,... Meager revenues, the IBD Market for which the company is developing new options! Senior VP, @ Pfizer and a host of Other experts to discuss this & more at AHAIC2023! To be spent identify an infecting agent, and instructions on how to defeat itand potentially avoid. Transformation into a biotherapeutics company publication, Samuel Smith did not have a position any! 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