Aug. 5 Quick Takes: Strong quarterly sales of Horizon’s Tepezza, Global Blood’s Oxbryta; plus a setback for DBV and news from Point, Karuna, Evotec-Secarna, Red
Horizon raising cash after Tepezza beats sales estimate
Shares of Horizon Therapeutics plc (NASDAQ:HZNP) rose 24% Wednesday, adding nearly $2.9 billion to the company’s market cap after a 2Q20 earnings report that showed that sales of Tepezza teprotumumab handily beat analysts’ consensus. Tepezza revenues came in at $165.9 million, compared with the Street’s estimate of $68.7 million. FDA approved the mAb targeting IGF1R in January to treat thyroid eye disease.