U.S. Markets closed

The Daily Biotech Pulse: Legal Victory For Boston Scientific, Alder Gets New CFO, FDA Go-Ahead For BioXcel

Shanthi Rexaline

Here's a roundup of top developments in the biotech space over the last 24 hours.

Scaling The Peak

(Biotech stocks hitting 52-week highs on Dec. 11)

  • Imprimis Pharmaceuticals Inc (NASDAQ: IMMY)
  • OvaScience Inc (NASDAQ: MLND)
  • Osiris Therapeutics, Inc. (NASDAQ: OSIR)

Down In The Dumps

(Biotech stocks hitting 52-week lows on Dec. 11)

  • Aptevo Therapeutics Inc (NASDAQ: APVO)
  • Biocept Inc (NASDAQ: BIOC)
  • BIOLASE Inc (NASDAQ: BIOL)
  • Cidara Therapeutics Inc (NASDAQ: CDTX)
  • Corvus Pharmaceuticals Inc (NASDAQ: CRVS)
  • Curis, Inc. (NASDAQ: CRIS)
  • Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC)
  • DURECT Corporation (NASDAQ: DRRX)
  • IntelliPharmaCeutics Intl Inc(NASDAQ: IPCI)
  • Jaguar Health Inc (NASDAQ: JAGX)
  • Melinta Therapeutics Inc (NASDAQ: MLNT)
  • Mesoblast limited (NASDAQ: MESO)
  • Midatech Pharma PLC-ADR (NASDAQ: MTP)
  • Nemaura Medical Inc (NASDAQ: NMRD)
  • NewLink Genetics Corp (NASDAQ: NLNK)
  • Ophthotech Corp (NASDAQ: OPHT)
  • Ovid Therapeutics Inc (NASDAQ: OVID)
  • Pluristem Therapeutics Inc. (NASDAQ: PSTI)
  • Prana Biotechnology Limited (NASDAQ: PRAN)
  • Psychemedics Corp. (NASDAQ: PMD)
  • Reshape Lifesciences Inc (NASDAQ: RSLS)
  • SCYNEXIS Inc (NASDAQ: SCYX)
  • Sierra Oncology Inc (NASDAQ: SRRA)
  • Tenax Therapeutics Inc (NASDAQ: TENX)
  • TherapeuticsMD Inc (NASDAQ: TXMD)

See Also: The Week Ahead In Biotech: Conferences, Clinical Trials And Earnings

Stocks In Focus Alder Appoints Industry Veteran Campoy as CFO

Alder Biopharmaceuticals Inc (NASDAQ: ALDR) announced it appointed Carlos Campoy as its CFO, effective Dec. 12. Campoy is an industry veteran, with over 20 years of experience in the biopharma and healthcare sectors.

"His contributions to our management team will be highly valuable as we continue to build our commercial infrastructure in anticipation of the potential launch of eptinezumab in the first quarter of 2020," CEO Bob Azelby said in a statement.

BioXcel Says FDA Accepts IND Application For Drug To Treat Agitation

BioXcel Therapeutics Inc (NASDAQ: BTAI) said the FDA has accepted its investigational new drug, or IND, application for its lead candidate BXCL501 that is being tested for acute agitation. The company said it would evaluate BXCL501, a proprietary sublingual thin-film formulation of dexmedetomidine, in first-in-human pharmacokinetic and safety studies in healthy volunteers.

The company said, with the FDA acceptance of the IND, it is on track to dose subjects by year-end, with data expected in the first-half of 2019.

The stock was seen rallying 1.98 percent to $4.64 in pre-market trading.

Arrowhead Q3 Loss Widens

Arrowhead Pharmaceuticals Inc (NASDAQ: ARWR) reported Q3 revenues of $16.14 million, down from $31.41 million a year-ago period. The net loss widened from 47 cents to 65 cents.

Boston Scientific Wins Medical Device Patent Litigation With Edwards

Boston Scientific Corporation (NYSE: BSX) said a U.S. district court determined that Edwards Lifesciences Corp (NYSE: EW) Sapien 3 Aortic Valve infringed its U.S. patent 8,992,608, and that Edwards owes Boston Scientific infringement damages through the end 2016.

Boston Scientific said additional damages and interest incurred from 2017-18 will be determined by the court in post-trial motions.

Also, the jury determined that Boston Scientific's LOTUS Aortic Valve System does not infringe Edwards' Spenser patents. Edwards said it plans to appeal.

Common Stock Offerings/Pricings

Marinus Pharmaceuticals Inc (NASDAQ: MRNS) said it intends to offer 12 million shares of its common stock in an underwritten public offering. All shares are earmarked for the offering are sold by the company. The company said it intends to use the net proceeds for its pre-clinical and clinical program for ganaxolone, among other things.

The stock fell 11.18 percent to $4.53 in after-hours trading.

NeoGenomics, Inc. (NASDAQ: NEO) announced a secondary offering of 10.835 million shares of its common stock, with the shares to be sold by GE Medical Systems Information Technologies.

See more from Benzinga

© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.