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 March 2)
- Forty Seven Inc (NASDAQ: FTSV)( announced a deal to be bought by Gilead Sciences, Inc. (NASDAQ: GILD))
- IGM Biosciences Inc (NASDAQ: IGMS)
- Iovance Biotherapeutics Inc (NASDAQ: IOVA)
- Karyopharm Therapeutics Inc (NASDAQ: KPTI)(announced positive late-stage results for selinexor)
- Passage Bio Inc (NASDAQ: PASG)(IPOed Friday)
- Syneos Health Inc (NASDAQ: SYNH)
- Trillium Therapeutics Inc (NASDAQ: TRIL)(moved in sympathy with Forty Seven, as it has a similar drug in the pipeline for solid tumor)
- Zynex Inc. (NASDAQ: ZYXI)
Down In The Dumps
(Biotech Stocks Hitting 52-week lows on March 2)
- Aerie Pharmaceuticals Inc (NASDAQ: AERI)
- AEterna Zentaris Inc. (NASDAQ: AEZS)
- Akorn, Inc. (NASDAQ: AKRX)
- ANI Pharmaceuticals Inc (NASDAQ: ANIP)(moved lower despite FDA nod for a generic version of Teva Pharmaceutical Industries Ltd's (NYSE: TEVA) Alzheimer's related dementia drug)
- Autolus Therapeutics Ltd – ADR (NASDAQ: AUTL)
- Axovant Gene Therapies Ltd (NASDAQ: AXGT)
- Black Diamond Therapeutics Inc (NASDAQ: BDTX)
- Eagle Pharmaceuticals Inc (NASDAQ: EGRX) (reacted to its fourth-quarter results)
- Evolus Inc (NASDAQ: EOLS)
- EXACT Sciences Corporation (NASDAQ: EXAS)
- GenMark Diagnostics, Inc (NASDAQ: GNMK)
- Imv Inc (NASDAQ: IMV)
- Neurometrix Inc (NASDAQ: NURO)
- Portola Pharmaceuticals Inc (NASDAQ: PTLA)
- Precigen Inc (NASDAQ: PGEN)
- Taro Pharmaceutical Industries Ltd. (NYSE: TARO)
- Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH)
- TherapeuticsMD Inc (NASDAQ: TXMD)
- Vanda Pharmaceuticals Inc. (NASDAQ: VNDA)
- Viking Therapeutics Inc (NASDAQ: VKTX)
Stocks In Focus GenMark Starts Shipping COVID-19 Test Kits
GenMark said it has begun shipping ePlex Research Use Only, or RUO, test kits to detect COVID-19 virus. The initial shipment will go to its Hong Kong distributor as well as several U.S. customers having access to clinical samples.
Separately, the company reported fourth-quarter results, showing 24% year-over-year revenue growth and a narrower loss of 17 cents per share, while analysts estimated a loss of 16 cents per share.
The stock jumped 21.65% to $4.27 in after-hours trading.
Novartis' Sandoz Unit Agrees For $195M Settlement In Generics Price Fixing Probe
Novartis AG's (NYSE: NVS) Sandoz unit said it has reached a resolution with the U.S. DoJ in a 3-year-long antitrust investigation carried out by the agency into the U.S. generic drug industry. Sandoz said the settlement pertains to instances of misconduct by the company between 2013 and 2015 with certain generic drugs sold in the U.S. As part of the agreement, Sandoz will pay $195 million.
Unity Biotech Taps Former Biogen Executive as CEO
Unity Biotechnology Inc (NASDAQ: UBX) announced the appointment of Anirvan Ghosh as CEO and member of the board, effective March 30. Ghosh was previously with as Biogen Inc (NASDAQ: BIIB) as SVP, Head of Research and Early Development.
The company said current CEO Keith Leonard will step down from the role due to personal circumstances.
KemPharm Filed Regulatory Application For ADHD Drug
KemPharm Inc (NASDAQ: KMPH) said it has submitted a NDA for KP415, its investigational asset to treat attention deficit hyperactivity disorder, or ADHD. KP415 contains serdexmethylphenidate and KemPharm's prodrug d-methylphenidate.
The stock jumped 37.61% to 45 cents in after-hours trading.
CanFite Submits Safety Report Showing Favorable Safety Snd Risk-Benefit Ratios
CAN FITE BIOPHARMA ADR REP 30 ORD (NYSE: CANF) announced submission of annual Drug Safety Update Reports to health regulatory agencies concerning Piclidenoson and Namodenoson, which show both investigational-stage drugs have favorable safety profiles and risk-benefit ratios in more than 1,500 patients.
In premarket trading Tuesday, the shares were surging up 29.92% to $1.65.
Thermo Fisher To Buy Qiagen For $10B In Cash
In premarket trading Tuesday, Qiagen shares were rallying 16.06% to $41.92 and Thermo Fisher shares were moving up 3.26% to $314.90,
Alnylam Says Inherited Liver Enzyme Deficiency Drug Approved In Europe
Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) said the European Commission has granted marketing authorization for GIVLAARI, an injection for subcutaneous use targeting aminolevulinic acid synthase 1 for the treatment of acute hepatic porphyria in adults and adolescents aged 12 years and older
Lily Assuages COVID-19 Concerns
Eli Lilly And Co (NYSE: LLY) issued an update alleviating any potential impact from COVID-19, stating that it does not anticipate shortages for any of its products, including all forms of insulin. It also said it does not source any of its approved medicines from China, and that its insulin manufacturing sites in the United States and Europe have not been impacted by coronavirus.
In pre-market trading Tuesday, the shares were adding 0.87% to $134 .
Omeros Corporation's (NASDAQ: OMER) fourth-quarter revenues rose 12% to $33.4 million and the net loss widened from 48 cents per share to 58 cents per share.
The stock added 17% to $14.73 in after-hours trading.
Zogenix, Inc. (NASDAQ: ZGNX) reported fourth-quarter revenues of $1.95 million compared to no revenues a year ago. The net loss per share widened from 53 cents to $1.26. Analysts estimated a loss of $1.06 per share.
The stock slipped 6.93% to $23.50 in after-hours trading.
Precigen reported fourth-quarter revenues of $17 million, sharply lower than $41.19 million a year ago. The net loss, however, narrowed from $2.59 per share to $1.09 per share. Analysts expected a loss of 27 cents per share on 23.4 million.
The stock declined 7.93% to $3.60 in after-hours trading.
Close on the heels of reporting positive late-stage data for selinexor, Karyopharm announced the commencement of a registered underwritten public offering of $150 million worth of its common shares.
The stock moved down 6.17% to $26.01 in after-hours trading.
On The Radar Earnings
- Antares Pharma Inc (NASDAQ: ATRS) (before the market open)
- Autolus Therapeutics Ltd – ADR (NASDAQ: AUTL) (before the market open)
- Neuronetics Inc (NASDAQ: STIM) (before the market open)
- TG Therapeutics Inc common stock (NASDAQ: TGTX) (before the market open)
- Sierra Oncology Inc (NASDAQ: SRRA) (before the market open)
- Infinity Pharmaceuticals Inc. (NASDAQ: INFI) (after the close)
- Syndax Pharmaceuticals Inc (NASDAQ: SNDX) (after the close)
- VIVUS, Inc. (NASDAQ: VVUS) (after the close)
- Voyager Therapeutics Inc (NASDAQ: VYGR) (after the close)
- DURECT Corporation (NASDAQ: DRRX) (after the close)
- Cytokinetics, Inc. (NASDAQ: CYTK) (after the close)
See more from Benzinga
- Attention Biotech Investors: Mark Your Calendar For These March PDUFA Dates
- The Week Ahead In Biotech: COVID-19 Stocks In The Spotlight, Earnings Taper Off
- The Daily Biotech Pulse: Sangamo In Genome-Editing Therapy Deal With Biogen, FDA Nod For Biohaven, Passage Bio IPO
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