Here's a roundup of top developments in the biotech space over the last 24 hours.
Scaling the Peaks
(Stocks hitting 52-week highs on July 10)
- Bio-Rad Laboratories, Inc. (NYSE: BIO)
- BioXcel Therapeutics Inc (NASDAQ: BTAI)(announced the formation of a Clinical Advisory Board to provide strategic counsel)
- Inspire Medical Systems Inc (NYSE: INSP)( announced Aetna Inc (NYSE: AET) will provide coverage for its Inspire therapy)
- ResMed Inc. (NYSE: RMD)
- IDEXX Laboratories, Inc. (NASDAQ: IDXX)
- Intuitive Surgical, Inc. (NASDAQ: ISRG)
- Iradimed Corp (NASDAQ: IRMD)
- MORPHOSYS AG/S ADR (NASDAQ: MOR)
- Vital Therapies Inc (NASDAQ: VTL)
Down In The Dumps
(Stocks hitting 52-week lows on July 10)
- Biocept Inc (NASDAQ: BIOC)
- Nemaura Medical Inc (NASDAQ: NMRD)
- Oramed Pharmaceuticals, Inc. (NASDAQ: ORMP)
- Regulus Therapeutics Inc (NASDAQ: RGLS)
- Sellas Life Sciences Group Inc (NASDAQ: SLS)
- Titan Medical Inc. (NASDAQ: TMD)
Stocks In Focus MORPHOSYS' Partner Initiates Late-stage Trial For Crohn's Disease Candidate
MORPHOSYS said Janssen, a unit of Johnson & Johnson (NYSE: JNJ), to which it has licensed its proprietary HuCAL antibody technology, has initiated a privotal Phase 2/3 clinical trial to evaluate the efficacy of the latter's Crohn's disease treatment candidate Tremfya developed using the former's technology.
The study dubbed GALAXI, consists of three separate studies, a Phase 2, followed by two Phase 3 studies.
Idera Terminates Merger Agreement With BioCryst
Idera Pharmaceuticals Inc (NASDAQ: IDRA) announced its proposed merger agreement with BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) has been cancelled following BioCryst shareholders voting against the transaction.
Idera shareholders had favored the combination. Due to the termination, BioCryst will pay Idera $6 million.
"As we move forward independently, we will remain focused on the development of tilsotolimod in anti-PD-1 refractory melanoma, a significant unmet need, as well as begin to explore the role of tilsotolimod in improving outcomes in patients suffering from additional solid tumor cancers," Idera said.
Idera shares fell 8.03 percent to $1.26 in after-hours trading, while BioCryst stock rose 3.42 percent to $6.35.
ArQule, Assembly Biosciences Announce Common Stock Offering
ArQule, Inc. (NASDAQ: ARQL) said it has commenced an underwritten common stock offering, with all shares in question to be sold by the company. The company intends to use the proceeds for funding its core clinical programs and for general corporate purposes.
ArQule shares fell 5.61 percent to $5.81 and Assembly Biosciences stock slid 2.03 percent to $39.
Pfizer Defers Price Increases
Pfizer Inc. (NYSE: PFE) announced its decision to defer the price increases that became effective July 1 following discussions with President Donald Trump in a bid to help the president draw up his blueprint to strengthen the healthcare system.
On The Radar
Medical device maker AngioDynamics, Inc. (NASDAQ: ANGO) is scheduled to report Q4 results before the market open. Analysts, on average, estimate earning of 21 cents per share on revenues of $89.3 million. (Editor's note: The company announced EPS of 20 cents and sales of $88.31 million.)
The FDA announced it has asked for safety labelling changes for fluoroquinolones, strengthening warnings about the risks of mental health side effects and serious blood sugar disturbances. The update is based on a comprehensive review of the FDA's adverse event reports and case reports published in medical literature.
The agency said in a separate release it has granted an emergency use authorization to the U.S. Department of Defense to enable the emergency use of Pathogen-Reduced Leukocyte-Depleted Freeze-Dried Plasma. This authorization allows treatment of hemorrhage or coagulopathy of U.S. military personnel during an emergency involving agents of military combat, when plasma isn't available for use or when the use of plasma isn't practical.
See more from Benzinga
- Benzinga's Daily Biotech Pulse: Biogen And Eisai's Alzheimer's Drug Meets End Points In Mid-Stage Trial, Obseva To List Shares On Swiss Exchange
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