Yahoo Finance 4 Biotech Stocks Making Moves on Thursday December 20, 2018
CORAL GABLES, FL / ACCESSWIRE / December 20, 2018 / The biotech industry has shown tremendous growth over the course of the last several months, as medical experts and professionals have sought to test the limits of technology for the purpose of engineering state-of-the-art products to improve quality of care for consumers on a global scale. From data and analytics, to improved treatment options for patients, advancements in the health care sector may indicate the industry is on the precipice of massive success. Premier Health Group (OTC:PHGRF) (CSE:PHGI), Agenus, Inc (AGEN), Rite Aid Corporation (RAD), and Teladoc Health (TDOC) are 4 biotech stocks that could test their November highs this week.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) is a company well-prepared to meet the demands and expectations of the biotech industry. After a strong month of bullish trading, the Company's shares have soared over 30% over the course of the last 30 days. The Company's shares closed at $0.68 per share after Monday trading, undoubtedly riding out the momentum from their announcement earlier in the week. In recognition of the importance of keeping up with the times, in terms of using the best possible technology for its patient network, Premier signed a binding LOI to acquire all of the outstanding secures of Cloud Practice Inc.
Dr. Essam Hamza , CEO of Premier Health, said ''We are ecstatic at the opportunity to build on our patient centric technology platform through the integration of Cloud Practice's suite of software solutions. They have a strong team of developers who are just as enthusiastic as we are about the future of healthcare. We believe that this partnership will help facilitate our vision of integrating telemedicine, online booking and other premium services with our electronic medical record (EMR) system.''
Last week, Premier Health Group (OTC:PHGRF) (CSE:PHGI) signed another binding Letter of Intent to acquire a Vancouver-based pharmacy. According to reports, for the FY2017-2018, the aforementioned pharmacy reported revenues of approximately $1MM.
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Agenus, Inc. (AGEN) announced early on Thursday morning that it will be entering into an immune-oncology partnership with Gilead Sciences, Inc., with the collaborative efforts focused on the development and commercialization of up to five novel immune-oncology therapies. According to the official announcement, Agenus will receive $150 million upon closing, which includes a $120 million upfront cash payment and a $30 million equity investment. The agreement also included approximately $1.7 billion in potential future fees and milestones.
''Gilead is an ideal partner for Agenus for the rapid advancement of our pipeline,'' said Garo Armen, PhD, Chairman and CEO, Agenus. ''By year end, our discovery platforms will have resulted in six INDs in 2018 and 13 INDs by the 1H2019. Gilead's established global presence and commitment to disruptive therapies, combined with ourtrack-record in building a broad pipeline in I-O, has the potential to yield breakthrough I-O treatments for patients with cancer.''
For More Information On Agenus, Inc, Click Here
Rite Aid Corporation (RAD) has been struggling to make ends meat, announcing yet another money-losing quarter earlier this week. The Company attempted to shift the tides by merging with grocery chain Albertsons, but alas, this was all for naught. However, the Company made global headlines on Wednesday when it announced that an agreement had been reached between Rite Aid and McKesson Corporation to continue the companies' pharmaceutical sourcing and distribution partnership for an additional 10 years.
''After a careful and comprehensive review of our drug purchasing options, continuing our partnership with McKesson will provide our company with a combination of competitive drug pricing and operational flexibility that creates the most value to all Rite Aid stakeholders," said John Standley, chief executive officer of Rite Aid. "McKesson has been a valued partner of Rite Aid for more than 20 years, and we're excited to continue our partnership under new terms that will leverage the strengths of both organizations to help drive future growth."
For More Information on Rite Aid Corp, Click Here
Teladoc Health (TDOC) has seen impressive gains over the course of the last fewmonth as the telemedicine has become more widely accepted in both the field and its related industries. At the tail end of November, the company announced the launch of Best Doctors Special Pharmacy Services, an analytics-driven virtual care solution designed to improve the quality of care for Teladoc patients.
According to their press release regarding the matter:
''We already know that Best Doctors services havelife changing results for our plan members -over half that access Best Doctors end up seeing a change in diagnosis or treatment,'' said Brad Fedorchuk, Senior Vice-President, Group Customer Experience & Marketing, Great-West Life. ''What makes this program so exciting is that we can now leverage the power of our claims data and data analytics to proactively bring these life changing services to our members that need them most, and at the same time, help our plan sponsors lower the cost of their benefit programs.''
For More Information On Teladoc Health, Click Here
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