Rogers Corporation - ROG STOCK NEWS

Genentech has announced the voluntary withdrawal of Tecentriq® (atezolizumab) from the U.S. market for prior-platinum treated metastatic urothelial carcinoma (mUC), following FDA consultation. This decision follows the failure of the IMvigor211 study to meet its primary overall survival endpoint. Genentech emphasizes that other approved indications for Tecentriq remain unaffected. The withdrawal reflects the evolving treatment landscape and aims to uphold the integrity of the FDA's Accelerated Approval Program.

Genentech announced FDA approval for Actemra® (tocilizumab) subcutaneous injection to slow pulmonary function decline in adults with systemic sclerosis-associated interstitial lung disease (SSc-ILD). This marks the first biologic therapy approved for this condition, impacting approximately 75,000 patients in the U.S. Key findings from the focuSSced Phase III trial indicated that Actemra reduced lung function decline compared to placebo, although the primary endpoint related to skin fibrosis was not met.

Common side effects included infections, aligning with Actemra's known safety profile.

Rogers Corporation (NYSE:ROG) has released its inaugural 2021 ESG Report, detailing its environmental, social, and governance strategies. President and CEO Bruce D. Hoechner emphasized the company's commitment to responsible corporate citizenship and sustainability, tracing roots back to the founder's initiatives on recycling. The report adheres to prominent sustainability frameworks and covers topics such as carbon footprint, diversity, and COVID-19 response. It showcases Rogers' contributions to electric vehicles, renewable energy, and medical applications, aiming for a cleaner and safer future.

Genentech, part of the Roche Group, announced publication of Evrysdi™ (risdiplam) data from the pivotal FIREFISH study. The study showed that 90% of infants with symptomatic Type 1 spinal muscular atrophy (SMA) survived without permanent ventilation after 12 months of treatment. Additionally, 33% of infants could sit independently for at least 5 seconds. The data highlights the drug's effectiveness in increasing survival of motor neuron (SMN) protein levels. Evrysdi, FDA-approved in August 2020, has promising implications for treating SMA in infants.

Rogers Corporation (NYSE:ROG) reported Q4 2020 net sales of $210.7 million, marking a 4% increase from Q3 and a 21% rise year-on-year. Gross margin improved to 38.3%, driven by operational efficiencies despite rising costs. For the full year, net sales totaled $802.6 million, a decline of 11% due to pandemic-related challenges. GAAP earnings per diluted share were $0.81 in Q4, up from $0.37 in Q3, while full-year earnings rose to $2.67. The company anticipates Q1 2021 net sales between $215-$225 million, amidst recovery from a facility fire in South Korea.

Rogers Corporation (NYSE: ROG) announced the retirement of CFO Michael M. Ludwig, who will remain until a successor is appointed. The company praised his leadership in enhancing profitability and cash flow. Rogers specializes in engineered materials across sectors like advanced mobility and connectivity, operating globally with multiple manufacturing facilities. The company highlights risks in forward-looking statements related to management retention and employee costs, indicating potential uncertainties ahead.

Genentech has announced positive results from four Phase III studies on its investigational bispecific antibody, faricimab, targeting diabetic macular edema (DME) and wet age-related macular degeneration (nAMD). Faricimab demonstrated non-inferior vision gains compared to aflibercept, with patients able to extend treatment intervals up to four months. Approximately 52.8% of DME patients and 45.7% of nAMD patients achieved four-month dosing in the first year. The studies showed no unexpected safety signals, indicating faricimab may improve treatment adherence and outcomes.

On February 9, 2021, a fire occurred at Rogers Corporation's (NYSE:ROG) UTIS manufacturing facility in Ansan, South Korea. The site was evacuated without injuries, but the facility suffered extensive damage. The fire's cause is under investigation. This site produces eSorba® polyurethane foams, crucial for portable electronics, and will see operational disruptions, though the duration is yet unknown. The UTIS business accounts for less than 4% of Rogers' annual sales and employs about 50 people.

Rogers Corporation (NYSE:ROG) is set to announce its fourth quarter and full year 2020 results on February 18, following market close. This will be accompanied by a conference call at 5:00 pm ET, featuring key executives including President and CEO Bruce Hoechner. Investors can access the live webcast and presentation on Rogers' investor website. The company, with over 180 years of materials science experience, specializes in engineered materials for advanced connectivity, mobility applications, and more, operating globally across multiple countries.