Healthcare Stock News Buzz: Amgen, Inc (NASDAQ:AMGN)
On Tuesday, Shares of Amgen, Inc (NASDAQ:AMGN) lost -0.21% to $164.55. Trading volume recorded for this company was about 1.63M shares as contrast to its average volume of 4.29M shares. The stock’s intraday range was $ 163.73 to $ 165.36. The company has the total of 736.45M outstanding shares, while its market capitalization is about $ 120.57B.
Amgen (NASDAQ: AMGN) and LabCentral declared that Cocoon Biotech, Torus Therapeutics, and Holobiome are the winners of Golden Ticket awards. Sponsored by Amgen, the Golden Ticket awards underwrite the cost of a lab bench for a scientist from each organization to reside in LabCentral’s open lab for one year. LabCentral is an innovative, shared laboratory space designed as a launchpad for premier high impact life-sciences and biotech startups. Amgen reached a multi-year platinum-level sponsorship with LabCentral in late 2014.
Amgen honored a second Golden Ticket to Cocoon to ensure continuity of working within LabCentral for an additional year and thus carry further progression of the startup’s early development program. Founded in 2013 to bring treatments for arthritis and other debilitating diseases to market, Cocoon’s platform technology is a biocompatible silk protein that can be injected into joints to provide effective long-lasting pain relief and potentially delay the progression of disease. The platform is designed to leverage several unique properties of the silk protein fibroin, counting strength, lubrication and biocompatibility.
“Cocoon is excited to receive a second Golden Ticket from Amgen,” said Ailis Tweed-Kent, chief executive officer and founder of Cocoon Biotech. “In addition to providing lab space, Cocoon has networked with Amgen scientific experts who have been instrumental to Cocoon’s success. The opportunity to interact with world-class bioscience visionaries is priceless and has without a doubt accelerated our progress. We look forward to continuing this progress as we aim to improve the lives of those suffering from osteoarthritis.”
Torus Therapeutics is a seed-stage biotechnology company that is developing transformative gene therapies for severe genetic and rare diseases.
“LabCentral is where we wanted to be: top-notch facilities, surrounded by smart, focused people — puzzling through many of the same science and business challenges that we are,” said Mark D. Angelino, chief operating officer of Torus Therapeutics. “Having our first year covered takes massive pressure off a young company like ours and we are extremely thankful to Amgen to assist makes it possible.”
Holobiome is developing bacteria into therapy for mental health disorders. The company’s lead product is a consortium of neurotransmitter-modulating human gut bacteria, with potential applications beyond mental health.
“It’s an honor to be awarded Amgen’s Golden Ticket,” said Philip Strandwitz, Ph.D., chief executive officer and founder of Holobiome. “Having the expansive support of Amgen and access to LabCentral’s facilities will assist catalyze Holobiome’s rapid entrance into the arena of microbiome therapeutics, with an initial focus on mental health disorders.”
“We are pleased to award three pioneering and forward-looking companies with a Golden Ticket,” said Aine Hanly, vice president of Process Development and site head of Amgen Massachusetts. “The winners align with Amgen’s strategy to encourage scientific innovation within our research focus areas. We look forward to seeing how these companies will thrive within LabCentral and develop solutions that have the potential to address critical patient heath needs.”
“It’s been extremely satisfying to see the marvelous success and popularity of our Golden Ticket program,” said Johannes Fruehauf, M.D., Ph.D., co-founder and president of LabCentral. “Each sponsor has tailored its Golden Ticket sponsorship in its own way to suit its particular company needs. Amgen has really gone all-in − highlighting its support of LabCentral internally and actively encouraging employee participation with us as a key part of its mission of inspiring innovation in next-generation therapeutics.”
Technical Analysis:
The stock price is going up to its 52-week low with 25.05% and lower from its 52-week high with -10.50%. The stock has shown its weekly performance of -2.56% and monthly performance stands at -5.53%. The stock price is moving up from its 200 days moving average with 3.48% and downward from 50 days moving average with -1.65%.
Analyst recommendation for this stock stands at 2.30.