Here's a roundup of top developments in the biotech space over the last 24 hours.
Scaling The Peaks
(Biotech stocks hitting 52-week highs on Sept. 18)
- 10X Genomics Inc (NASDAQ: TXG) (listed its shares on Nasdaq on Sept. 12)
- Alder Biopharmaceuticals Inc (NASDAQ: ALDR)
- Eidos Therapeutics Inc (NASDAQ: EIDX)
- IGM Biosciences Inc (NASDAQ: IGMS) (debuted on Wednesday and ended with a gain of 51.87%)
- Neubase Therapeutics Inc (NASDAQ: NBSE)
- XOMA Corp (NASDAQ: XOMA)
- ZEALAND PHARMA/S ADR (NASDAQ: ZEAL)
Down In The Dumps
(Biotech stocks hitting 52-week lows on Sept. 18)
- Catalyst Biosciences Inc (NASDAQ: CBIO)
- Endologix, Inc. (NASDAQ: ELGX)
- Kalvista Pharmaceuticals Inc (NASDAQ: KALV)
- Mirum Pharmaceuticals Inc (NASDAQ: MIRM)
- Onconova Therapeutics Inc (NASDAQ: ONTX) (announced termination of common stock offering)
- Sarepta Therapeutics Inc (NASDAQ: SRPT)
- Sophiris Bio Inc (NASDAQ: SPHS)
- Viveve Medical Inc (NASDAQ: VIVE)(announced reverse stock split in the ratio 1:100)
Stocks In Focus China Biologics Receives A Buyout Offer
China Biologic Products Holdings Inc (NASDAQ: CBPO) said it has received a preliminary non-binding proposal from a consortium of buyers, including Beachhead Holdings Limited and CITIC Capital China Partners IV, L.P., to buy out all the outstanding shares the buyer group does not already own for $120 per share.
The per share offer price represented a 16.4% premium over the closing price of the shares Wednesday.
The stock climbed 6.65% to $110 in after-hours trading.
Novartis' AveXis Unit Reports Additional Positive Zolgensma Data
Novartis AG (NYSE: NVS)'s AveXis unit announced new interim data from the Phase 3 SPRINT trial in pre-symptomatic patients as well as interim data from the ongoing Phase 3 STRIVE trial of Zolgensma, which demonstrated positive outcomes, showing age-appropriate milestone gain with pre symptomatic treatment and prolonged event-free survival in patients with SMA Type 1.
The presentation was made at the 2019 European Paediatric Neurology Society Congress.
The company also said patients in START long-term follow-up study, who are an average of 4.2 years old, continue to achieve developmental milestones.
Castle Biosciences To Be Added To US Small-Cap R2K Index
Castle Biosciences Inc (NASDAQ: CSTL) said it will be added to the U.S. small-cap Russell 2000 Index, effective after the U.S. markets opens Sept. 23. The addition was for a year due to its membership in the broader-market Russell 3000 Index.
Aerie Submits PAS For Manufacturing Ocular Hypertension Drug In Ireland
Aerie Pharmaceuticals Inc (NASDAQ: AERI) said it has submitted a prior approval supplement, or PAS to the FDA, which if approved will permit production of Rocklatan 0.02%/0.005%, for sale in the U.S. in its new manufacturing plant in Athlone in Ireland. The company expects the PAS review to be completed within 60 days, with the final review in four months.
Following FDA approval in March, Rocklatan was commercially launched on May 1.
Provention Bio Inc (NASDAQ: PRVB) priced its previously announced underwritten registered public offering of 5 million shares of its common stock at $8 per share for raising gross proceeds of $40 million. The offering is expected to close on or about Sept. 23.
The company said it has also entered into a subscription agreement with Amgen, Inc. (NASDAQ: AMGN) for the large-cap pharma company purchasing in a private placement 2.5 million shares of its common stock at $8 per share for total gross proceeds of $20 million.
The stock fell 12.01% to $8.50 in after-hours trading.
VBI Vaccines Inc (NASDAQ: VBIV) said it has commenced an underwritten public offering of its common shares. The company expects to use the net proceeds for the progress of its pipeline programs, as well as for general corporate purposes.
The stock moved down 12.31% to 59 cents in after-hours trading.
On The Radar IPO
Exagen, a company that sells blood tests for diagnosing, prognosing or monitoring autoimmune diseases, priced its upsized offering of 3.60 million shares at $14, the lower bound of the estimated price range of $14-$16. The company's shares will be listed on the Nasdaq under the ticker symbol XGN.
See more from Benzinga
- The Daily Biotech Pulse: NewLink Genetics Rallies, Breakthrough Designation For Roche, IGM Biosciences Debuts
- The Daily Biotech Pulse: Acceleron Shelves Muscular Dystrophy Drug Trial, Aclaris Aces Late-Stage Study
- The Week Ahead In Biotech: Novo Nordisk And Merck Await FDA Rulings, 2 IPOs On Deck
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