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Hemophilia Fighter Bioverativ Launches On NASDAQ

Hemophilia Fighter Bioverativ Launches On NASDAQ

Bioverativ Inc (NASDAQ: BIVVV) — the NASDAQ's brand-new biotech company that’s focused on treatments for hemophilia and other blood disorders — listed this week with $325 million in hand after spinning off from Biogen Inc (NASDAQ: BIIB).

The company markets treatments such as Eloctate and Alprolix for hemophilia — a rare genetic disorder in which blood doesn’t clot normally due to a lack of proteins known as clotting factors. Bioverativ began trading on the NASDAQ on Thursday.

Goldman Sachs started the biotech stock at Buy in late January, while Cowen & Co. rated Bioverativ at Market Perform. Morgan Stanley initiated the stock at Underweight on Thursday.

“We have a vision to build a great rare disease company that is focused on blood disorders and has the potential to create significant value for shareholders,” CEO John Cox said in a statement.

“We are fortunate to launch in a strong financial position, with two innovative products for hemophilia that are continuing to show strong growth, significant capital to fund investment in future innovation, and a foundation of truly remarkable science on which we hope to develop the next generation of therapies for patients.”

Bioverativ’s existing hemophilia treatments delivered $888 million in revenue in 2016, according to the company.

Blood Disorder Therapies In Development Pipeline

Bioverativ has three hemophilia treatments in the investigational or testing phase, the company said in a release:

    1. A prophylactic treatment for hemophilia A, BIVV 001, is “expected to enter the clinic in the second half” of 2017.
    2. BIVV 002, designed to allow under-the-skin dosage of a clotting factor for hemophilia B, is in preclinical testing.
    3. Bioverativ is collaborating with Sangamo Therapeutics Inc (NASDAQ: SGMO) on a preclinical treatment for beta thalassemia and sickle cell disease.

Image Credit: Courtesy of Bioverativ.

Posted-In: Alprolix Cowen & Co.Biotech Long Ideas Short Ideas Health Care Trading Ideas General Best of Benzinga


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