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 May 15)
- Inspire Medical Systems Inc (NYSE: INSP)
- Aptevo Therapeutics Inc (NASDAQ: APVO)
- BioLife Solutions Inc (NASDAQ: BLFS)
- Ligand Pharmaceuticals Inc. (NASDAQ: LGND)
- MEI Pharma Inc (NASDAQ: MEIP)
- OptiNose Inc (NASDAQ: OPTN)
- ProPhase Labs Inc (NASDAQ: PRPH)
- Regenxbio Inc (NASDAQ: RGNX)
- Sophiris Bio Inc (NASDAQ: SPHS) (reported Q1 results after Monday's close)
- Vericel Corp (NASDAQ: VCEL)
- Xenon Pharmaceuticals Inc (NASDAQ: XENE) (positive Phase 1 interim data for its epilepsy treatment XEN1101)
Down In The Dumps
(Stocks hitting 52-week lows on May 15)
- aTyr Pharma Inc (NASDAQ: LIFE)
- BIOLASE Inc (NASDAQ: BIOL)
- Cesca Therapeutics Inc (NASDAQ: KOOL) (reported Q1 results after Monday's close)
- Immune Pharmaceuticals Inc (NASDAQ: IMNP) (presented updated data from the Phase 2 study of its bertilimumab in patients with moderate-to-extensive bullous pemphigoid; filed an 8-K for selling up to $2.225 million of original discount convertible debentures)
Stocks In Focus Verastem Announces $35 Million Stock Offering
The stock fell 11.07 percent to $4.66 in after-hours trading Tuesday.
Celyad Announces Global Offering
The stock slid 3.32 percent to $29.70 after hours.
Titan Posts Better-Than-Expected Q1
Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) reported Q1 revenues of $1.1 million, sharply higher than the $40,000 reported for the year-ago period. The company's net loss narrowed from 14 cents per share to 12 cents per share.
Analysts, on average, estimated a loss of 13 cents per share on revenues of $70,000.
The micro-cap stock jumped 25 percent after hours.
Zomedica Reports A Flat Loss For Q1
The stock rallied 6.25 percent to $2.04 after hours.
Biocept Q1 Misses Estimates
Biocept Inc (NASDAQ: BIOC) said its Q1 loss per share narrowed from 21 cents to 11 cents, while revenues came in at $1.68 million. The year-ago revenues included a one-time revenue of $874,000 related to the conversion from cash-based to accrual-based revenue recognition.
The consensus estimates had called for a loss of 9 cents per share on revenues of $1.1 million.
The stock slumped 18.18 percent to $0.18 after hours.
Altimmune Q1 Loss Narrows, Revenues Surge
Altimmune Inc (NASDAQ: ALT) reported a net loss of 25 cents per share, excluding non-cash goodwill impairment charges, compared to a loss of 68 cents in the year-ago period.
Revenues climbed from the year-ago's $0.3 million to $2.7 million.
The micro-cap stock gained 16.19 percent.
Other Stocks That Reacted to Earnings
(Tuesday's after-hours quote)
- Ritter Pharmaceuticals Inc (NASDAQ: RTTR) – Up 1.38 percent to $2.94
- Imprimis Pharmaceuticals Inc (NASDAQ: IMMY) – Up 5.44 percent to $2.52
- CorMedix Inc. (NYSE: CRMD) – Down 2.35 percent to $0.1953
- Eleven Biotherapeutics Inc (NASDAQ: EBIO) – Up 1.89 percent to $2.70
- Zosano Pharma Corp (NASDAQ: ZSAN) – Up 2.97 percent to $4.86
On The Radar
The following companies report earnings on Wednesday:
Voyager Therapeutics Inc (NASDAQ: VYGR) will release final Phase 1b data for its advanced Parkinson's disease treatment VY-AADC01 at the American Society of Gene & Cell Therapy, or ASGCT, 2018 Annual Meeting at 6 p.m. ET.
Audentes Therapeutics Inc (NASDAQ: BOLD) is due to release final Phase 1/2 data for its X-linked Myotubular myopathy treatment AT132 at the ASGCT meeting at 11:30 a.m. ET.
See more from Benzinga
- Benzinga's Daily Biotech Pulse: Aytu Rallies On Earnings, Evolus Awaits FDA Verdict, BofA Conference Underway
- The Week Ahead In Biotech: PDUFA Dates, Earnings, IPOs And More
- Benzinga's Daily Biotech Pulse: FDA Panel Nod For Akcea, Synergy's Revenue Miss, FDA Warns E-Liquid Makers Again
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