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The Daily Biotech Pulse: Galapagos-Evotec Forge Fibrosis Partnership, Sanofi Earnings, Alector To Debut

Shanthi Rexaline

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 Feb. 6)

  • Array Biopharma Inc (NASDAQ: ARRY)
  • Millendo Therapeutics Inc (NASDAQ: MLND)
  • Melinta Therapeutics Inc (NASDAQ: MLNT)
  • XBiotech Inc (NASDAQ: XBIT)
  • Zai Lab Ltd (NASDAQ: ZLAB) ( reacted to announcement from MacroGenics Inc (NASDAQ: MGNX) that a Phase 3 clinical trial evaluating its margetuximab in HER2-positive metastatic breast cancer patients turned in positive results. Zai Labs holds the development and commercialization rights to the pipeline asset in Greater China under a November 2018 agreement)

Down In The Dumps

(Biotech stocks hitting 52-week lows on Feb. 6)

  • CELLECT BIOTECH/S ADR (NASDAQ: APOP)
  • Stock In Focus

Galapagos, Evotec to Collaborate For Fibrotic Disease Drug Program

Evotec AG (OTC: EVTCY) and GALAPAGOS NV/S ADR (NASDAQ: GLPG) announced a global collaboration focused on a small-molecule program, currently in pre-clinical development, for treating fibrotic disease of the liver and other organs.

"The target has been identified and validated using Evotec's proprietary platforms for fibrotic diseases and NASH," the companies said.

Evotec stands to receive an upfront payment and potential milestone and royalty payments, while Galapagos gets the right for all further development of the program.

View more earnings on IBB

See Also: Attention Biotech Investors: Mark Your Calendar For These February PDUFA Dates

Earnings

Sanofi SA (NASDAQ: SNY) reported fourth-quarter sales and earnings that exceeded most estimates by a small margin, thanks to strong performance by its Genzyme unit. The

Taro Pharmaceutical Industries Ltd. (NYSE: TARO) reported third-quarter net sales of $176.38 million compared to $155.46 million a year ago. Earnings per share climbed year-over-year from 45 cents to $2.40. On an adjusted basis, the year-ago EPS would have been $1.37. The results exceeded estimates.

Enanta Pharmaceuticals Inc (NASDAQ: ENTA) reported Q1 revenues of $69.9 million compared to $38.1 million in the year-ago period. EPS rose from 59 cents to $1.25. The results trailed expectations.

On The Radar Clinical Trial Results

Protalix Biotherapeutics Inc (NYSE: PLX) will release Phase 3 pharmacokinetic data for Pegunigalsidase alfa, its Fabry disease treatment candidate, at the WORLDSymposium.

Sangamo Therapeutics Inc (NASDAQ: SGMO) is set to release Phase 1/2 preliminary safety and biochemical measurements for SB-318, its treatment candidate for MPS Type 1, at the WORLDSymposium. The company will also release biochemical and safety data for SB-913, its MPS Type 2 treatment candidate, at the symposium.

Earnings

Arrowhead Pharmaceuticals Inc (NASDAQ: ARWR) (after the close)
Twist Bioscience Corp (NASDAQ: TWST) (after the close)
Organovo Holdings Inc (NASDAQ: ONVO) (after the close)
Seattle Genetics, Inc. (NASDAQ: SGEN) (after the close)
Ligand Pharmaceuticals Inc. (NASDAQ: LGND) (after the close)

IPO

California-based clinical-stage biotech Alector, which develops treatments for neurodegeneration, said it has priced its IPO of 9.25 million shares at $19, within the estimated price range of $18-$20. The company's shares will be listed on the Nasdaq under the ticker symbol ALEC.

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