Why did BELLUS Health stock fall 69% on Monday?
Shares of Bellus Health ( NASDAQ:BLU) ( TSX:BLU) were falling 69.2% at 2:40 p.m. EST on Monday following its announcement that a phase 2 trial of BLU-5937 as a treatment for refractory chronic cough has missed its mark.
Is BELLUS Health a winner in the race to deliver a cough drug?
Research Capital Corporation analyst André Uddin thinks Bellus Health ( Bellus Stock Quote, Chart, News, Analysts, Financials TSX:BLU) could be a winner in the race to deliver a chronic cough drug.
What is BELLUS Health?
Based in Laval, Quebec, Bellus Health is a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of chronic cough and other hypersensitization-related disorders.
Does bellus have a drug here?
The Laval, Que., company did report some promising data and committed to continue in its race against several pharmaceutical giants to get similar drugs to market. “We are very much reassured we have a drug here,” Bellus director Clarissa Desjardins said.
Is Bellus Health stock a good buy?
BELLUS Health has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 5 buy ratings, no hold ratings, and no sell ratings.
Will Bellus Health stock go up?
The 8 analysts offering 12-month price forecasts for BELLUS Health Inc have a median target of 15.50, with a high estimate of 20.00 and a low estimate of 14.00. The median estimate represents a +91.36% increase from the last price of 8.10.
What is the blue gas stock?
Performance OutlookPrevious Close0.0509Day's Range0.0550 - 0.056652 Week Range0.0258 - 0.0806Volume48,000Avg. Volume35,1483 more rows
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How to buy shares in Blue EnergyCompare share trading platforms. To buy shares listed in Australia, you'll need to sign up to a broker with access to the ASX. ... Open and fund your brokerage account. ... Search for Blue Energy. ... Purchase now or later. ... Decide on how many to buy. ... Check on your investment.
Who is the CEO of Bellus?
While Bellus CEO Roberto Bellini acknowledged the latest results were disappointing, he said in an interview: “I don’t put this in the failure column. We think there’s benefit for patients here. As we dug in [to the data], we got more and more encouraged.”
What is Bellus known for?
Bellus, once known as Neurochem Inc., previously failed to develop treatments for Alzheimer’s disease and a rare kidney ailment, spending more than $300-million in the process. Bellus licensed global rights to the cough drug – which pharma giant AstraZeneca had attempted to develop as a pain medication – in 2017, reviving its prospects.
How much did Bellus trial cost?
That trial is expected to cost US$20-million. Bellus had US$78-million in cash and short term investments at the end of March. Francesco Bellini, the chairman of Bellus, reiterated his optimism despite Monday’s setback. “The first thing I did this morning was I bought 100,000 shares,” he said in an interview.
Who is the chairman of Bellus?
Francesco Bellini, the chairman of Bellus, reiterated his optimism despite Monday’s setback. “The first thing I did this morning was I bought 100,000 shares,” he said in an interview. “I don’t understand why experienced people, expert analysts or investors don’t see the same [opportunity] like I see … I see now a good opportunity to buy a lot of shares at a very cheap price.”
Is Bellus safe for humans?
In addition, the Bellus drug was found to be safe for humans, showing no serious adverse side effects, while only two patients experienced partial taste loss. That’s in contrast to Merck’s rival drug, which causes a significant amount of loss in taste among test subjects – a key advantage Bellus is hoping to exploit if both its drugs makes it to market.
A phase 2 trial with the company's chronic-cough candidate hit its primary endpoint
Cory is a long-term minded analyst focused on the Healthcare Sector. He genuinely enjoys cutting through the complexity to help everyday investors make better decisions. Follow @coryrenauer
What happened
Shares of Bellus Health ( NASDAQ:BLU), a clinical-stage biotechnology company, are soaring in response to positive clinical-trial data. Investors excited about the company's lead candidate BLU-5937 drove the stock 58.4% higher as of 10:30 a.m. ET on Monday.
So what
Bellus Health's lead candidate is a potential first-in-class P2X3 inhibitor for the treatment of refractory chronic cough (RCC) and eczema-related itching. The biotech stock is up sharply today because 28 days of treatment with BLU-5937 led to a significant improvement to RCC patients' daily cough frequency during the phase 2 Soothe trial.
Now what
Bellus Health's next step will be an end of phase 2 meeting with the Food and Drug Administration (FDA) to discuss the design of an upcoming phase 3 RCC trial with its lead candidate. That means the company could have phase 3 data in hand before the end of 2022.
What is Bellus Health?
BELLUS Health develops treatments for chronic cough, hypersensitization disorders, and chronic pruritus or chronic itch. The company's product candidate is BLU-5937. The product consists of an oral small molecule designed to be an antagonist of the P2X3 receptor, which most experts link to hypersensitivity.
How much is BLU worth in 2020?
BLU reports what most healthcare investors look for cash and R&D assets. As of March 31, 2020, the company had 60 million in short-term investments, and $17 million in cash. Besides, it reported in-process research and development worth $50 million and $131 million in total assets.
