$ONC

Sector Update: Healthcare Stocks Advance Pre-Bell Friday

Healthcare stocks were advancing pre-bell Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.5% higher and the iShares Biotechnology ETF (IBB) up 0.3%.BeOne Medicines (ONC) stock was up more than 1% after the company said new data for tacabrutideg, a Bruton's tyrosine kinase degrader, showed "durable responses" in pretreated relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma patients and promising activity in BTK inhibitor-naive patients.BioCryst Pharmaceuticals' (BCRX) Orladeyo was associated with "early and sustained reductions" in hereditary angioedema or HAE attacks, demonstrated by new clinical data from the ongoing APeX-P study, the company said. BioCryst Pharmaceuticals shares were up 0.1% premarket.Rocket Pharmaceuticals (RCKT) stock was up nearly 2% after the company closed the $180 million sale of its rare pediatric disease priority review voucher.

Sector Update: Healthcare

Healthcare stocks were mixed pre-bell Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.1% higher and the iShares Biotechnology ETF (IBB) down 0.1%.BeOne Medicines (ONC) stock was up 1.8% after the company said new data for tacabrutideg, a Bruton's tyrosine kinase degrader, showed "durable responses" in pretreated relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma patients and promising activity in BTK inhibitor-naive patients.

BeOne Medicines Solid Tumor Data Boost Confidence in Long-term Growth, RBC Says

BeOne Medicines (ONC) reported encouraging data from three solid tumor programs, strengthening confidence in its competitive potential and long-term growth, RBC Capital Markets said in a note Tuesday.The company on Monday presented "promising" data on a CDK4 inhibitor for breast cancer, a GPC3-4-1BB bispecific antibody for hepatocellular carcinoma, and a B7-H4 antibody-drug conjugate for ovarian cancer.Analyst Leonid Timashev said each therapy appears to be delivering on its promised profile, with potential safety or efficacy advantages that could support best-in-class positioning or at least strong competitiveness over the coming years.Although investors have generally been skeptical of BeOne Medicines' solid tumor portfolio, RBC believes the building blocks for success are becoming increasingly visible. As a result, the firm now estimates that the company could generate up to $4.8 billion in solid tumor sales by 2035."While more data, and in some cases, optimization is still needed, we think the company's commitment to phase 3 trials and initial data is worth paying attention to," the analyst added.RBC raised its price target on BeOne Medicines to $436 from $425 while keeping its outperform rating.Price: $276.76, Change: $-2.92, Percent Change: -1.04%

BeOne Gets FDA Approval for Beqalzi to Treat Mantle Cell Lymphoma

BeOne Medicines (ONC) said Wednesday the US Food and Drug Administration has granted accelerated approval to Beqalzi for the treatment of adults with relapsed or refractory mantle cell lymphoma, after at least two lines of systemic therapy.The company said continued approval for this indication is contingent upon confirmation of clinical benefit in the confirmatory trial, which is underway.Price: $317.94, Change: $+2.87, Percent Change: +0.91%

Wells Fargo Initiates Coverage on BeOne Medicines AG With Overweight Rating

BeOne Medicines Receives US FDA Priority Review for Tevimbra Combination Therapy

BeOne Medicines' (ONC) supplemental biologics license application for Tevimbra, in combination with Ziihera and chemotherapy, was granted priority review designation by the US Food and Drug Administration, the company said Wednesday.This drug is for patients with a specific type of stomach or throat cancer that has spread or cannot be removed by surgery. It specifically targets tumors that test positive for a protein called HER2, which helps the cancer grow.Interim data from a phase 3 trial of the combination therapy supported the application, with the Tevimbra combination demonstrating statistically significant improvement in overall survival and progression-free survival, the company said.The combination therapy's safety findings in the trial were generally consistent with the component's known effects, BeOne Medicines added.Price: $296.42, Change: $-1.74, Percent Change: -0.58%