Woodford forced to write down values of holdings; Novartis showcases positive PhIII MS data
→ Neil Woodford‘s investment trust was forced to write down the value of one its holdings today by just under $40 million, another tumble in what’s become a long-running landslide for the once marquee firm. Once one of Britain’s most successful stock pickers and a prominent supporter of the nation’s biotech industry, Woodford has found himself in the crosshairs since he suspended the Equity Income Fund after years of underperformance and months of massive withdrawals. The name of the written-down holding is yet to be announced.
→ Novartis $NVS presented positive results from its Phase III ASCLEPIOS I and II studies, which compared the efficacy of ofatumumab (a fully human anti-CD20 monoclonal antibody) to Aubagio in patients with multiple sclerosis (MS) — results showed ofatumumab was superior.
“Ofatumumab showed high efficacy and a favorable safety profile in people with RMS, offering a potential first B-cell therapy that can be self-administered in the home,” said John Tsai, head of global drug development and CMO, Novartis.
→ o2h Discovery and Third Rock backed-Cedilla Therapeutics have announced an expansion to their synthetic chemistry collaboration. Cedilla is focused on generating therapeutics that degrade protein targets as their primary mechanism of action.