U.S. Markets close in 5 hrs 59 mins

The Daily Biotech Pulse: Pfizer-Glaxo Set Up Consumer Health Care Venture, New Patent For Adamas

Shanthi Rexaline

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

No biotech stocks hit 52-week highs Tuesday.

Down In The Dumps

(Biotech stocks hitting 52-week lows on Dec. 18)

  • Accelerate Diagnostics Inc (NASDAQ: AXDX)
  • Achieve Life Sciences Inc (NASDAQ: ACHV)
  • Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN)
  • Aclaris Therapeutics Inc (NASDAQ: ACRS)
  • Adamas Pharmaceuticals Inc (NASDAQ: ADMS)
  • Advaxis, Inc. (NASDAQ: ADXS)
  • Agios Pharmaceuticals Inc (NASDAQ: AGIO)
  • Aileron Therapeutics Inc (NASDAQ: ALRN)
  • Akebia Therapeutics Inc (NASDAQ: AKBA)
  • Akers Biosciences Inc (NASDAQ: AKER)
  • Alkermes Plc (NASDAQ: ALKS)
  • Allena Pharmaceuticals Inc (NASDAQ: ALNA)
  • AnaptysBio Inc (NASDAQ: ANAB)
  • Anavex Life Sciences Corp (NASDAQ: AVXL)
  • ANI Pharmaceuticals Inc Common Stock (NASDAQ: ANIP)
  • Applied Genetic Technologies Corp (NASDAQ: AGTC)
  • Apricus Biosciences Inc (NASDAQ: APRI)
  • Aptevo Therapeutics Inc (NASDAQ: APVO)
  • Aquestive Therapeutics Inc (NASDAQ: AQST)
  • Aravive Inc (NASDAQ: ARAV)
  • AxoGen, Inc Common Stock (NASDAQ: AXGN)
  • AzurRx BioPharma Inc (NASDAQ: AZRX)
  • BioXcel Therapeutics Inc (NASDAQ: BTAI)
  • BIOLINERX LTD/S ADR (NASDAQ: BLRX)
  • Celldex Therapeutics, Inc. (NASDAQ: CLDX)
  • Cellectar Biosciences Inc (NASDAQ: CLRB)
  • Chembio Diagnostics Inc (NASDAQ: CEMI)
  • Chimerix Inc (NASDAQ: CMRX)
  • Conatus Pharmaceuticals Inc (NASDAQ: CNAT)
  • Corvus Pharmaceuticals Inc (NASDAQ: CRVS)
  • CytRx Corporation (NASDAQ: CYTR)
  • Diffusion Pharmaceuticals Inc (NASDAQ: DFFN)
  • Dova Pharmaceuticals Inc (NASDAQ: DOVA)
  • DURECT Corporation (NASDAQ: DRRX)
  • Dynavax Technologies Corporation (NASDAQ: DVAX)
  • Edge Therapeutics Inc (NASDAQ: EDGE)
  • Endologix, Inc. (NASDAQ: ELGX)
  • Enzo Biochem, Inc. (NYSE: ENZ)
  • Flex Pharma Inc (NASDAQ: FLKS)
  • Forward Pharma A/S (NASDAQ: FWP)
  • Gemphire Therapeutics Inc (NASDAQ: GEMP)
  • Genocea Biosciences Inc (NASDAQ: GNCA)
  • Geron Corporation (NASDAQ: GERN)
  • Idera Pharmaceuticals Inc (NASDAQ: IDRA)
  • ImmunoGen, Inc. (NASDAQ: IMGN)
  • Insmed Incorporated (NASDAQ: INSM)
  • Insys Therapeutics Inc (NASDAQ: INSY)
  • Intellia Therapeutics Inc (NASDAQ: NTLA)
  • Intra-Cellular Therapies Inc (NASDAQ: ITCI)
  • Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD)
  • Jaguar Health Inc (NASDAQ: JAGX)
  • La Jolla Pharmaceutical Company (NASDAQ: LJPC)
  • Leap Therapeutics Inc (NASDAQ: LPTX)
  • LeMaitre Vascular Inc (NASDAQ: LMAT)
  • Melinta Therapeutics Inc (NASDAQ: MLNT)
  • Mersana Therapeutics Inc (NASDAQ: MRSN)
  • Menlo Therapeutics Inc (NASDAQ: MNLO)
  • Mesoblast limited (NASDAQ: MESO)
  • Miragen Therapeutics Inc (NASDAQ: MGEN)
  • Nabriva Therapeutics PLC – ADR (NASDAQ: NBRV)
  • Nemaura Medical Inc (NASDAQ: NMRD)
  • Neovasc Inc (NASDAQ: NVCN)
  • Neurometrix Inc (NASDAQ: NURO)
  • Nymox Pharmaceutical Corp (NASDAQ: NYMX)
  • Oncolytics Biotech, Inc. (NASDAQ: ONCY)
  • Onconova Therapeutics Inc (NASDAQ: ONTX)
  • OncoSec Medical Inc (NASDAQ: ONCS)
  • OpGen Inc (NASDAQ: OPGN)
  • Ophthotech Corp (NASDAQ: OPHT)
  • OptiNose Inc (NASDAQ: OPTN)
  • Otonomy Inc (NASDAQ: OTIC)
  • Phio Pharmaceuticals Corp (NASDAQ: PHIO)
  • Pieris Pharmaceuticals Inc (NASDAQ: PIRS)
  • Portola Pharmaceuticals Inc (NASDAQ: PTLA)
  • Precipio Inc (NASDAQ: PRPO)
  • Progenics Pharmaceuticals, Inc. (NASDAQ: PGNX)
  • Prothena Corporation PLC (NASDAQ: PRTA)
  • Psychemedics Corp. (NASDAQ: PMD)
  • Revance Therapeutics Inc (NASDAQ: RVNC)
  • Seres Therapeutics Inc (NASDAQ: MCRB)
  • Sienna Biopharmaceuticals Inc (NASDAQ: SNNA)
  • Sophiris Bio Inc (NASDAQ: SPHS)
  • Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI)
  • Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS)
  • Synlogic Inc (NASDAQ: SYBX)
  • Taro Pharmaceutical Industries Ltd. (NYSE: TARO)
  • Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH)
  • Titan Medical Inc. (NASDAQ: TMDI)
  • Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP)
  • Trevena Inc (NASDAQ: TRVN)
  • TrovaGene Inc (NASDAQ: TROV)
  • Urovant Sciences Ltd (NASDAQ: UROV)
  • Unum Therapeutics Inc (NASDAQ: UMRX)
  • Vascular Biogenics Ltd (NASDAQ: VBLT)
  • Vermillion, Inc. (NASDAQ: VRML)
  • Verrica Pharmaceuticals Inc (NASDAQ: VRCA)
  • VERONA PHARMA P/S ADR (NASDAQ: VRNA)
  • Vital Therapies Inc (NASDAQ: VTL)
  • Yield10 Bioscience Inc (NASDAQ: YTEN)
  • Zynerba Pharmaceuticals Inc (NASDAQ: ZYNE)

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

Stocks In Focus Pfizer, Glaxo To Combine Consumer Health Care Business With an Eye On Spinoff

Pfizer Inc. (NYSE: PFE) and GlaxoSmithKline plc (NYSE: GSK) announced an agreement to create a joint venture focusing on consumer health care that would boast of the iconic brands of both companies. The joint venture will unite Pfizer's consumer health care business to Glaxo's existing consumer healthcare business, with the former receiving a 32 percent stake in the venture and the right to receive pro rata share of the venture's earnings and dividends.

The venture, to be named GSK Consumer Healthcare, will eventually lead to its separation as an independent company and a listing on the U.K. stock market.

Eli Lilly Licenses Aduro's Program For Developing Immunotherapies

Aduro BioTech Inc (NASDAQ: ADRO) and Eli Lilly And Co (NYSE: LLY) announced a research collaboration and exclusive license agreement for the former's cGAS-STING Pathway Inhibitor program that is being used to develop immunotherapies for autoimmune and other inflammatory diseases.

The agreement provides for Aduro receiving an upfront payment of $12 million and also potential development and commercial milestone payments up to $620 million, as well as royalties in the single-to-low-double digits, if Eli Lilly succeeds in commercializing a therapy from the collaboration.

Aduro shares rallied 29.55 percent to $3.20 in after-hours trading.

Adamas Parkinson's Drug Gets New Patent

Adamas said the U.S. Patent and Trademark Office has issued a new patent covering its Gocovri extended released capsules.

Gocovri was approved in Aug. 2017 as a treatment option for dyskinesia in patients with Parkinson's disease, who receive levodopa-based therapy, with or without concomitant dopaminergic medications.

The newly-issued patent pertains to a method of reducing OFF time in patients with Parkinson's disease.

The shares advanced 4.94 percent to $8.50 in after-hours trading.

Surface Oncology to Reduce Investment In Early-stage Immuno-oncology Candidate

Issuing an update on its product pipeline, Surface Oncology Inc (NASDAQ: SURF) said it plans to significantly reduce investment in and scope of its SRF231 program and file two investigational new drug applications, or INDs, in 2019.

SRF231 is a fully human antibody that inhibits the activity of CD47 protein, which is overexpressed in many types of cancer cells.

The decision to trim investment in SRF231 program was attributed to initial data from the ongoing Phase 1 trial, the CD47 competitive landscape and continued emergence and prioritization of the company's CD39 and IL-27 program.

Based on the reprioritization, the company expects projected cash runaway through 2021.

The stock plunged16.6 percent to $6.18 in after-hours trading.

Novartis Unit Dry Eye Treatment Device Maker Tear Film

Novartis AG (NYSE: NVS)'s Alcon unit announced the acquisition of privately-held Tear Film Innovations, which manufactures iLux, a device to treat Meibomain Gland Dysfunction that causes dry eye.

Alcon said it plans to expand the availability of this technology throughout the U.S. and Canada in early 2019.

Amgen In-licenses a New Class of Immuno-oncology Drug

Amgen, Inc. (NASDAQ: AMGN) said it has agreed to in-license Molecular Partner's MP0310, a pre-clinical molecule designed to locally activate immune cells in the tumor by binding to FAP on tumor stromal cells and co-stimulating T cells via 4-1BB. Amgen has agreed to pay Molecular Partner an upfront payment of $50 billion and potential development, regulatory and commercial milestone payments up to $497 million.

Takeda to List On NYSE

Japanese pharma company Takeda, which has agreed to acquire Shire PLC (NASDAQ: SHPG), said its ADSs will be listed on the NYSE, with the securities to commence trading Dec. 24 under the ticker symbol TAK.

Ligand Raises FY18 Guidance; Initiated FY19 Guidance

Ligand Pharmaceuticals Inc. (NASDAQ: LGND) announced 2019 guidance, expecting revenues of at least $212 million, with $40 million in potential milestone and license payment, and adjusted EPS of $5.50.

Citing higher material sales, the company raised its previous 2018 guidance from $240 million to $244 million, and adjusted EPS guidance from $6.52 to $6.63.

Sanofi Transfers U.S. Listing to Nasdaq

Sanofi SA (NYSE: SNY) announced transfer of its U.S. listing from the NYSE to the Nasdaq, effective Dec. 31, after the close.

See more from Benzinga

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