Back To The Drawing Board For Portola After Merck Returns Betrixaban
This article was originally published in The Pink Sheet Daily
Executive SummaryMerck & Co. returned the Phase III-ready oral Factor Xa inhibitor; Portola spins the news as an opportunity, but finding a new partner may be challenging.
You may also be interested in...
Portola says that it does not expect it will need to do a second Phase III study to get FDA approval for betrixaban, after missing major endpoint in APEX, but analysts have doubts.
During a year in which biotech IPOs have taken off, the bluebird bio issue calls for special attention. Plus news on recent financings by Quintiles, Portola, Isis and Lumena.
Despite pricing well below its range and trading down, Ambit could raise $90 million in an IPO and a private placement with existing investors. Also this week, gene therapy company bluebird bio filed for an IPO, and hematology play Portola made the rounds on its investor road show.