Daily Brief Health Care: Eisai Co Ltd, Illumina Inc, Arrowhead Pharmaceuticals , Baxter International, Biora Therapeutics , Cardinal Health, Cocrystal Pharma , Imunon , Iqvia Holdings, Abeona Therapeutics and more

• Eisai Co Ltd (4523 JP) has guided for FY25 Leqembi revenue of ¥56.5B (~$366M), with ¥43.5B from U.S., and ¥10.0B from Japan. In FY24, Leqembi reported worldwide revenue of ¥4.2B.
• Leqembi is expected to grow significantly due to increase in prescriptions following the progress in the development of AD diagnosis and treatment pathways in the U.S. and Japan.
• The current rally can be short lived, as the competitor drug is expected to get FDA approval in 3Q24.

• Illumina Inc. has had a strong first quarter of 2024, which included an encouraging performance from its high throughput consumables, increased revenue from strategic partnerships, and the delivery of a number of NovaSeq X instruments.
• However, Chief Executive Officer Jacob Thaysen has warned about the persisting uncertain global economic environment and cited customer concerns affecting purchasing decisions.
• The year’s results were particularly promising considering the challenges posed by the Coronavirus pandemic.

• On May 9, 2024, Arrowhead Pharmaceuticals, Inc. (ARWR) announced financial results for the second quarter of fiscal year 2024 that ended March 31, 2024.
• The company currently has 14 clinical stage programs, with 10 of them being wholly owned.
• We expect a total of 18 clinical programs by the year end.

• Baxter International’s first quarter 2024 earnings report revealed that the company exceeded its guidance for that term, with 2% growth on a reported basis and 3% at constant currency rates compared to an initial projection of approximately 1% growth.
• This performance was underpinned by strong demand and favorable pricing for a broad range of Baxter’s products.
• The firm’s performance illustrates the benefits of its recent strategic transformation, with improved global visibility, enhanced accountability, and functional verticalization contributing to its success.

• Biora is a drug-device company developing smart pills for GI diseases and enabling oral delivery of biologics.
• Its pipeline features two assets: NaviCap, for targeted drug delivery in GI diseases & BioJet, for oral delivery of biologics.
• NaviCap is poised for IND clearance and BioJet may advance into the clinic through the efforts of pharmaceutical partners.

• Cardinal Health, Inc., a provider of healthcare products and services, reported its Q3 FY2024 financial performance.
• The quarter displayed broad-based growth as the company worked on its four strategic priorities, eventually leading to growth and raised outlook for the fiscal year ’24.
• The pharmaceutical and specialty solutions business showed strong growth, riding on ongoing stability in pharmaceutical demand.

• On May 1, 2024, Cocrystal Pharma, Inc. (COCP) announced the completion of enrollment of 78 subjects in the randomized, double blind, placebo controlled Phase 2a human challenge trial of CC-42344.
• Study subjects were infected with influenza A and then treated with CC-42344 or placebo.
• We anticipate topline results in the second half of 2024.

• On May 13, 2024, Imunon, Inc. (IMNN) announced financial results for the first quarter of 2024 and provided a business update.
• The company is on track to report topline results from the OVATION 2 trial of IMNN-001, a DNA-based interleukin-12 (IL-12) immunotherapy as a first-line treatment of locally advanced ovarian cancer, in mid-2024.
• In addition, the company announced it has activated the first site for patient recruitment for the Phase 1 study of IMNN-101, a seasonal COVID-19 vaccine candidate.

• On the positive side, the company delivered top and bottom-line numbers either on or slightly above the expectations.
• The favorable demand for the industry continued to surge as IQVIA’s revenue grew by 6%.
• The clinical side of the business, in particular, saw solid demands from R&DS clients, which boosted their backlog to a new record, growing almost 8% compared to the prior year.

• Abeona is developing a cell therapy for the rare disease RDEB, with FDA review ongoing and a target action date of May 25th
• The therapy is expected to have a significant impact on RDEB patients, who face severe skin and GI issues due to a lack of specific collagen
• With a niche business model focused on treating a small patient population, Abeona anticipates generating over $100 million in free cash flow and potentially offering significant upside for investors.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.