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 Oct. 1)
- Boston Scientific Corporation (NYSE: BSX)
- Eli Lilly And Co (NYSE: LLY)
- Masimo Corporation (NASDAQ: MASI)
- Merck & Co., Inc. (NYSE: MRK)
- Merit Medical Systems, Inc. (NASDAQ: MMSI)
- Trevena Inc (NASDAQ: TRVN)
- Urovant Sciences Ltd. (Nasdaq: UROV)
Down In The Dumps
(Biotech stocks hitting 52-week lows on Oct. 1)
- Arvinas Inc (NASDAQ: ARVN)
- Avrobio Inc (NASDAQ: AVRO)
- Genprex Inc (NASDAQ: GNPX)
- Gritstone Oncology, Inc. (NASDAQ: GRTS)
- GTx, Inc. (NASDAQ: GTXI)
- Kala Pharmaceuticals Inc (NASDAQ: KALA)
- La Jolla Pharmaceutical Company (NASDAQ: LJPC)
- Magenta Therapeutics Inc (NASDAQ: MGTA)
- OptiNose Inc (NASDAQ: OPTN)
- REALM THERAPEUTICS ADR (NASDAQ: RLM)
- Sonoma Pharmaceuticals Inc (NASDAQ: SNOA)
- Titan Pharmaceuticals, Inc. (NASDAQ: TTNP)
- Vital Therapies Inc (NASDAQ: VTL)
Stocks In Focus Endologix Expects Q3 Revenues Above Consensus; Raises Low-End Of FY18 Revenue Guidance
Endologix, Inc. (NASDAQ: ELGX) announced preliminary third-quarter results, expecting revenues in the range of $34.3 million to $34.7 million, ahead of the $31.13 million consensus estimate. Citing the current business trends, the company raised the low-end of its 2018 revenue guidance to $150 million from $145 million, while maintaining the high-end at $155 million.
The stock soared 37.21 percent to $2.36 in after-hours trading.
Novartis Out-Licenses 3 Anti-Infectives
Novartis AG (NYSE: NVS) said it licensed three novel anti-infective drug candidates to Boston Pharma. These pipeline assets have the potential to treat antibiotic-resistant Gram-negative infections.
Obseva Reports Additional Positive Data For Nolasiban
Obseva SA (NASDAQ: OBSV) released additional positive Phase 3 data from the IMPLANT 2 trial of its oral, oxytocin receptor antagonist Nolasiban in patients undergoing IVF procedures. The data showed that the candidate significantly increased live birth rate following IVF treatment.
An additional Phase 3 trial is set to begin prior to the end of 2018 and is expected to generate primary endpoint, 10-week ongoing pregnancy data, in about 12 months, allowing for a planned MAA submission in Europe by the end of 2019.
Epizyme Inc (NASDAQ: EPZM) priced its underwritten public offering of 8.33 million shares of its common stock at $9 per share, a discount to Tuesday's closing price of $9.71. All the shares are to be sold by the company. The company expects gross proceeds of $75 million from the offering.
The stock shed 7.31 percent to $9 in after-hours trading.
GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH) priced its previously announced offering of 1.90 million ADSs, representing 22.8 million ordinary shares, at a price of $158 per ADS. The company expects to raise gross proceeds of about $300 million from the offering.
Kala Pharma said it commenced an underwritten public offering of 7.50 million shares. Separately, the company said it closed its $110 million credit facility with funds managed by Athyrium Capital Management.
The stock fell 9.48 percent to $8.40 in after-hours trading.
See more from Benzinga
- The Daily Biotech Pulse: TransEnterix's Positive Pre-Announcement, Merit Medical Opens Wallet, GW Pharma To Offer ADS Shares
- The Week Ahead In Biotech: Conferences, PDUFA Dates, Clinical Trial Results And IPOs
- The Daily Biotech Pulse: FDA Nods For Adamis, Eli Lilly, Pfizer; Spero, Obseva Report Positive Trial Results
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