Intrexon Corporation ($XON) Stock | Company Announces Joint Effort with Janssen

2282

Intrexon Corporation (NYSE: XON)

 

Intrexon Corporation (XON), a biotechnology company yesterday announced an agreement with Janssen Pharmaceutica NV, to develop ActoBiotics therapies targeting type 2 diabetes. Diabetes is one of the major causes of health problems, affecting more than 387 million people worldwide. Type 2 Diabetes is a chronic syndrome from irregular blood sugar levels. Most current treatments target only one aspect of the disease, while the ActoBiotics therapy platform is an oral delivery system targeting multiple aspects of Type 2 Diabetes, and looks to improve in maintaining  glycemic control for the long term.

 

Intrexon Corporation Senior VP’s Comments

Samuel Broder, M.D., SVP and Head of Intrexon’s Health Sector stated, “I am very pleased we are partnering with Janssen to address Type 2 diabetes and related conditions. Through the use of Intrexon’s proprietary ActoBiotics® platform, we believe this collaboration will make a significant contribution to this substantial global health issue. The breadth of opportunity to treat an array of diseases with our versatile ActoBiotics® technology continues to expand.”  PR Newswire

 

XON Technical Analysis

XON Chart

XON gapped up in price yesterday to $32.96, up from the prior day’s close of $31.81, which is a 4% increase on favorable news. Taking a look at the daily chart, we can see the last time XON traded above this price level was on December 16th when it traded at $32.97. Taking a further look down the daily chart we can see that XON has been on an overall decline dating back to August 5th when it traded at $68.71. XON has a float of 53.92 million shares and is trading below the normal trading volume. XON did reach pre market highs of $34, but gave back $1.04 at the open, or equivalent to 3%. For trading purposes, my entry point would have been $33 looking for a run to $34. My stop loss would have been $32.80, fearing anything below that and the stock would start to fill in the gap up.

 

Company Profile

Intrexon Corporation, a biotechnology company, operates in the synthetic biology field in the United States. The company, through a suite of proprietary and complementary technologies, designs, builds, and regulates gene programs, which are DNA sequences that consist of key genetic components. Its technologies include UltraVector gene design and fabrication platform, and its associated library of modular DNA components; cell systems informatics; RheoSwitch inducible gene switch; AttSite Recombinases; protein engineering; mAbLogix; and laser-enabled analysis and processing. Intrexon Corporation has collaboration agreements with ZIOPHARM Oncology, Inc.; Synthetic Biologics, Inc.; Oragenics, Inc.; Fibrocell Science, Inc.; Genopaver, LLC; AquaBounty Technologies, Inc.; S & I Ophthalmic, LLC; Biological & Popular Culture, Inc.; OvaXon, LLC; Intrexon Energy Partners, LLC; and Persea Bio, LLC; and strategic collaboration and licensing agreement with Merck Serono S.A. The company was formerly known as Genomatix Ltd. and changed its name to Intrexon Corporation in 2005. Intrexon Corporation was founded in 1998 and is based in Germantown, Maryland.  Yahoo Finance

 

IMAGE CREDIT

NO COMMENTS

LEAVE A REPLY