Mylan N.V. (NASDAQ:MYL) [Trend Analysis] tries to capture market sentiments, shares moved up 0.21% to $37.58. Mylan N.V. (NASDAQ:MYL) and Biocon Ltd. (BIOCON) reported that the results of the HERITAGE study have been published in the Journal of the American Medical Association (JAMA). Study results confirm the efficacy, safety and immunogenicity of MYL-1401O, the proposed biosimilartrastuzumab co-developed by Mylan and Biocon, in comparison to branded trastuzumab.
The results of the trial were first presented at this year’s American Society of Clinical Oncology (ASCO) Annual Meeting and the European Society for Medical Oncology (ESMO) Congress. Branded trastuzumab is indicated to treat certain HER2-positive breast and gastric cancers.
Dr. Hope S. Rugo, professor of medicine at the University of California, San Francisco, commented: “We are encouraged by the confirmatory efficacy and safety results of the HERITAGE study recently published in JAMA. This study was the last major step of a multiple-phased program to demonstrate that proposed biosimilartrastuzumab meets the criteria for equivalence in comparison to branded trastuzumab. Published study results showed an overall response rate of 69.6% for MYL-1401O compared to 64% for branded trastuzumab. Tumor progression, progression-free survival and overall survival was not statistically different between proposed biosimilartrastuzumab and branded trastuzumab at week 48.”
When calculating EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at -31.50%. Investors looking further ahead will note that the Price to next year’s EPS is 13.23%. (What Market Forces Produce Volatility in NASDAQ:MYL Share? Find Free Report Here)
As for as concerns shares volumes, in share of capital Mylan N.V. (NASDAQ:MYL) has 532.39 million outstanding shares among them 439.91 million shares have been floated in market exchange. MYL institutional ownership remained 65.00% while insider ownership included 0.20%. The firm attains analyst recommendation of 2.00 with week’s performance of 0.24%
Ophthotech Corporation (NASDAQ:OPHT) [Trend Analysis] shows fluctuation in active trade, on Wednesday shares plunged -3.34% to $4.92.
The 52-week high of the share price is -93.85% and 52-week low of the share price is 8.61%. Current stock price is in the upbeat territory taking into account of 20 days moving average with -75.39% and continued bullish run for 50 days moving average with -83.18%. To take look on ration of tradable shares being shorted in market, float short ration was 11.41%, as compared to sentiment indicator; Short Ratio was 2.10. Taking notice in average true range, it was 2.54.
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