Global Blood Therapeutics, Inc. (GBT) (GBT), which is focused on transforming the treatment and care of people living with sickle cell disease, today announced steps the company is taking to support public health efforts to address the COVID-19 pandemic. GBT supports and is aligned with public health strategies designed to stem the spread of COVID-19, including social distancing and other methods. With the health and safety of patients, healthcare professionals and employees as a top priority, GBT is temporarily suspending its field team from all in-person interactions, including visits to physician offices, clinics and hospitals as well as in-person meetings with payers.
Global Blood Therapeutics, Inc. (GBT) (GBT) today announced a commitment of $250,000 to support the sickle cell disease (SCD) community in the United States at a time of immediate and overwhelming need during the novel coronavirus (COVID-19) pandemic. The company has established the GBT Community Fund through which GBT will provide $150,000 in grants for United States non-profit organizations that are supporting the acute needs of patients and their families during the crisis.
Global Blood Therapeutics (GBT) has reported a solid first quarter earnings beat, with Q1 GAAP EPS of -$1.20 beating the Street forecast by $0.31. Meanwhile revenue of $14.12M easily topped Street expectations by $10.47M.Most notably Oxbryta sales for the first quarter were $14.1 million, well above consensus of $3.7 million, and were largely driven by increased clinical experience that drove demand and the number of prescriptions.Oxbryta (voxelotor) is the first sickle cell treatment for patients aged 12 and above that directly inhibits the sickling and destruction of red blood cells that mark sickle cell disease (SCD).“Our first quarter performance exceeded our expectations” commented CEO Ted W. Love, M.D. “We have received positive feedback from patients and physicians, with increased awareness of Oxbryta and many patients responding well.”During the first quarter GBT recorded approximately 1,650 new patient prescriptions of Oxbryta, for a total of approximately 2,000 since launch. The vast majority of new patient prescriptions were enrollments into GBT Source™, the company’s patient support program, the company said.And while GBT did observe a decline in new patient prescriptions beginning in the second half of March due to the COVID-19 pandemic, it “believes this decline is temporary and expects new patient prescriptions to return to pre-COVID levels once the pandemic subsides.”Looking forward GBT plans to expand Oxbryta to other geographies, as well as to children under 12. The company has a meeting with the both the European Medicines Agency (EMA) and the FDA planned for the second quarter to advance these goals.“Overall we are impressed by the initial launch of Oxbryta and expect prescription demand to ramp back up once COVID-19 subsides” cheered William Blair analyst Raju Prasad as he reiterated his GBT buy rating.“We view the company’s progress in achieving 25% patient coverage and the number of healthcare providers prescribing Oxbryta positively. While management noted roughly 60% reduction in new patient starts due to COVID-19, we believe that the sickle cell disease market demand is strong” he said.Based on the strong initial launch and management commentary, Prasad increases his 2020 full-year revenue estimate to $81.6 million and 2021 full year estimate to $207.7 million.Indeed, the stock has a bullish Strong Buy Street consensus with an average analyst price target of $104 (28% upside potential). Shares are currently trading up 3.4% year-to-date. (See GBT stock analysis on TipRanks).Related News: Japan Plans To Approve Gilead’s Remdesivir Today- Report AstraZeneca Wins FDA Approval For Diabetes Drug to Treat Heart Failure Billionaire Bill Ackman Picks up These 2 Stocks as Markets Recover More recent articles from Smarter Analyst: * Buffett’s Berkshire Shaves Off 84% Of Its Goldman Sachs Stake * Apple is Said to Snap Up Startup NextVR For Virtual Reality Content; Top Analyst Sees Buying Opportunity * Carl Icahn Initiates Position in Delek US Holdings, Boosts Occidental Petroleum * Nike Warns Virus Store Closures To Have “Material Impact” On Q4
Purcell Julie & Lefkowitz LLP, a class action law firm dedicated to representing shareholders nationwide, is investigating a potential breach of fiduciary duty claim involving the board of directors of Global Blood Therapeutics, Inc. (NASDAQ: GBT).
Global Blood (GBT) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
SOUTH SAN FRANCISCO, Calif., May 07, 2020 -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on May 1, 2020, the compensation committee of GBT’s board.
Those following along with Global Blood Therapeutics, Inc. (NASDAQ:GBT) will no doubt be intrigued by the recent...
The abstracts include a retrospective analysis of data from the landmark STOP 2 study linking higher hemoglobin levels to lower transcranial Doppler (TCD) flow velocity, a predictor of stroke risk in children with sickle cell disease (SCD), and three encore presentations of the pivotal Phase 3 HOPE Study of Oxbryta® (voxelotor). Oxbryta is the first drug approved by the U.S. Food and Drug Administration that directly inhibits sickle hemoglobin polymerization, the process that causes red blood cells to sickle and break down.
NEW YORK, April 29, 2020 -- Fields Kupka & Shukurov LLP is investigating potential breach of fiduciary duty claims involving the board of directors of Global Blood.
Global Blood Therapeutics (GBT) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
Achieved Oxbryta® (voxelotor) net revenues of $14.1 million in first full quarter of launch Approximately 1,650 new patient prescriptions for Oxbryta during the first quarter.
"They do a lot of good work and I like companies working on cancer," replied Jim Cramer to a caller asking about Global Blood Therapeutics Inc. during the Lightning Round segment of Mad Money Tuesday evening. In the daily bar chart of GBT, below, we can see that prices have corrected down in two legs to the cresting 200-day moving average line. The daily On-Balance-Volume (OBV) line has not declined that much when compared to the price decline in the past two months.
Global Blood Therapeutics (NASDAQ: GBT) plans to report its first quarter earnings on Wednesday, May 6. Importantly, investors will see the first full quarter of sales for Oxbryta, the company's recently approved drug for adults and children age 12 and older with sickle cell disease. The Food and Drug Administration (FDA) approved Oxbryta on Nov. 25., three months before the FDA's Priority Review action date for the decision.
Q4 2019 Global Blood Therapeutics Inc Earnings Call
Global Blood (GBT) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Q1 2020 Global Blood Therapeutics Inc Earnings Call
SOUTH SAN FRANCISCO, Calif., April 29, 2020 -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that it will report first quarter 2020 financial results on.
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Healthcare investors can look past the development risk. Global Blood Therapeutics (NASDAQ: GBT) crushed analyst estimates when it reported its first-quarter results on May 6. In its first full quarter on the market, Global Blood's sickle cell disease drug Oxbryta posted $14.1 million in net sales.
Global Blood (GBT) delivered earnings and revenue surprises of 18.37% and 268.91%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?