Home / Biopharma / Pfizer Inc. (NYSE:PFE) Sings Partnership With MacroGenics (MGNX) For Advanced A Bispecific Antibody Therapeutic

Pfizer Inc. (NYSE:PFE) Sings Partnership With MacroGenics (MGNX) For Advanced A Bispecific Antibody Therapeutic

Pfizer Inc. (NYSE:PFE) [Trend Analysis] regains street interests, as shares fell -0.06% on Wednesday and it traded at $33.80. MacroGenics (MGNX) declared on Tuesday that its signs partnership with Pfizer (PFE) has advanced a bispecific antibody therapeutic candidate generated by MacroGenics’ Dual-Affinity Re-Targeting, or Dart, platform. Pfizer recently dosed a first patient in the Phase 1 clinical study of PF-06671008, which targets P-cadherin and CD3. Increased levels of the protein P-cadherin have been reported in various tumors, including breast, ovarian, endometrial, colorectal and pancreatic cancers, and is correlated with poor survival of patients according to MacroGenics

On the other hand, Allergan Plc, whose $160B merger with Pfizer Inc dropped apart previous month, released a 48% increase in quarterly revenue, led by a strong performance by its branded drugs business, which includes Botox and the eye drug Restasis. The firm declared that net income attributable to ordinary shareholders of $186.1 million, or 47 cents per share, for the first-quarter ended March 31, compared with a loss of $535.2 million, or $1.85 per share, a year earlier.  When calculating in the EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at -21.50%. Investors looking further ahead will note that the Price to next year’s EPS is 6.63%.

As for as concerns shares volumes, in share capital Pfizer Inc. (NYSE:PFE) has 6190.04 million outstanding shares among them 6183.50 million shares have been floated in market exchange. The firm’s institutional ownership remained 74.20% while insider ownership included 0.10%. The 52-week high of the share price is -4.87% and 52-week low of the share price is 20.88%.

The stock showed weekly upbeat performance of 0.30%, which maintained for the month at 5.99%. Likewise positive performance for the quarter recorded as 16.15% and for the year was 2.13%, while the YTD performance remained at 5.76%.


About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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