On Monday, Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), added 0.48% and closed at $85.45 in the last trading session. BMRN stock opened its last trade at $84.83 and after floating in a range of $82.19 to $85.60. The company’s Market capitalization is $14.29 Billion with the total Outstanding Shares of 170.78 million. During the 52-week trading session the minimum price at which share price traded, registered at $62.12 and reached to max level of $118.48. BioMarin Pharmaceutical Inc. (BMRN) declared recently that the Medicines and Healthcare Products Regulatory Agency (MHRA) in the United Kingdom approved continued enrollment into the open-label Phase 1/2 study of BMN 270, an investigational gene therapy treatment for severe hemophilia A. BioMarin had formerly declared that after enrolling the first 9 patients in the study, that dosing of patients had been suspended because of observed increases in alanine aminotransferase (ALT) levels that exceeded a pre specified threshold set by the company. Following study suspension, the company reviewed safety and efficacy data on the 9 patients with the MHRA, and based on its review, the MHRA approved resumption of the study. The agency also approved the company’s projected amendments to the study, which included eliminating the requirement for prophylactic corticosteroids and increasing potential additional enrollment from up to three additional patients to up to six additional patients.
BioMarin intends to resume enrollment in the Phase I/2 study before the end of 2016. Based on protocol amendments, three patients will be enrolled at a dose of 4 x 1013 vg/kg, and an additional three may be enrolled at this dose or the formerly tested high dose of 6 x 1013 vg/kg. In the up to six additional patients, the requirement for prophylactic corticosteroids has been removed and the threshold for starting therapeutic corticosteroids has been raised. Safety and efficacy data from these patients will inform the Phase 2b study planned to begin in the second half of 2017.
Diamondback Energy Inc (NASDAQ:FANG), dropped -0.43% and closed at $100.47 in the last trading session. FANG stock opened its last trade at $100.98 and after floating in a range of $55.48 to $106.84. The company’s Market capitalization is $7.64 Billion with the total Outstanding Shares of 78.03 million. During the 52-week trading session the minimum price at which share price traded, registered at $55.48 and reached to max level of $106.84. Diamondback Energy, Inc. (FANG) (“Diamondback” or the “Company”) recently offered an operational update for the quarter ended September 30, 2016, raised 2016 production outlook and introduced preliminary guidance for the full year of 2017.
“Diamondback’s continued strong well performance and raised completion cadence during the third quarter reflects our ability to turn our growth engine back on into a rising commodity price after reducing completion activity in early 2016. We are now operating four rigs with a fifth rig to be added in the coming weeks and a sixth rig to be added early next year,” stated Travis Stice, Chief Executive Officer of Diamondback.
Mr. Stice continued, “We have raised 2016 production guidance and introduced 2017 production guidance which shows production growth of more than 30% at the midpoint contrast to updated 2016 expectations. Our existing asset base allows us to drive production growth within cash flow into 2017 and beyond at the current forward strip prices. The ability to drive multi-year organic growth, within cash flow on our existing asset base represents the standard we have always sought to achieve. We believe we are ideally positioned to pursue additional transactions offered they drive exceptional shareholder value while maintaining our disciplined approach to acquisitions. As has been rumored, we were engaged in negotiations involving an acquisition but are not actively pursuing further negotiations at this time.”