Kite Pharma Inc (NASDAQ:KITE) announced that it has appointed Shawn Tomasello to the newly created position of Chief Commercial Officer. With over 30 years of experience in the life sciences industry, Ms. Tomasello has led commercial and medical affairs efforts at Pharmacyclics and commercial efforts at Celgene and Genentech. In her new role, Ms. Tomasello will build Kite’s commercial and medical affairs operations, reporting to Arie Belldegrun, M.D., FACS, Chairman, President, and Chief Executive Officer, and Cynthia M. Butitta, Chief Operating Officer and Chief Financial Officer.
“Shawn’s tremendous record of accomplishment, including her leadership of three of the most successful programs in hematology-oncology, will be invaluable as we advance our lead product candidate, KTE-C19, in the clinic and prepare for commercialization,” said Dr. Belldegrun. “We are thrilled that she is joining our team at this important time for Kite.”
Prior to joining Kite, Ms. Tomasello served as Chief Commercial Officer at Pharmacyclics, Inc., during which time the brand Imbruvica® was awarded the prestigious 2015 Prix Galien Award for Best Pharmaceutical Agent. Previously, she held senior leadership positions at Celgene Corporation, including President of the Americas, Hematology and Oncology, in which she oversaw over $4 billion in product revenues. During her tenure at Celgene, Ms. Tomasello was responsible for all aspects of commercial sales and marketing for six brands encompassing 11 indications. One of these brands, Revlimid®, was awarded the Prix Galien USA 2008 Award for Special Therapeutic Development. Prior to this, she was National Director of Hematology for Rituxan® at Genentech, representing the most significant portion of the company’s product revenue during her tenure. Earlier in her career, Ms. Tomasello held positions at Pfizer Laboratories, Miles Pharmaceuticals and Proctor & Gamble. She currently serves on the Boards of Oxford BioTherapeutics and Diplomat Rx. Ms. Tomasello received her BS degree in marketing from the University of Cincinnati and her MBA degree from Murray State University, KY.
“I am excited about this unique opportunity to join the talented team at Kite, a company dedicated to changing the paradigm of cancer treatment,” said Ms. Tomasello. “As we advance towards commercialization, I look forward to building and leading our commercial organization to bring Kite’s potentially curative therapies to patients with a significant unmet need.”(Original Source)
Shares of Kite Pharma Inc closed last Friday at $63.03, down $0.84 or -1.32%. KITE has a 1-year high of $89.84 and a 1-year low of $44.01. The stock’s 50-day moving average is $75.55 and its 200-day moving average is $65.98.
On the ratings front, Kite Pharma has been the subject of a number of recent research reports. In a report issued on December 15, Standpoint Research analyst Ronnie Moas upgraded KITE to Buy. Separately, on December 7, FBR’s Edward White maintained a Hold rating on the stock and has a price target of $72.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ronnie Moas and Edward White have a total average return of 6.9% and -25.1% respectively. Moas has a success rate of 69.0% and is ranked #22 out of 3633 analysts, while White has a success rate of 25.0% and is ranked #3460.
The street is mostly Bullish on KITE stock. Out of 8 analysts who cover the stock, 7 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $111.00, which implies an upside of 76.1% from current levels.
Kite Pharma Inc is a clinical-stage bio pharmaceutical company focused on the development and commercialization of novel cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells.