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The Daily Biotech Pulse: PTC Therapeutics, Select Biosciences Offering, Unity Biotech Expands Early-Stage Osteoarthritis Drug Study

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 Jan. 22)

  • Veracyte Inc (NASDAQ: VCYT)
  • Down In The Dumps

(Biotech stocks hitting 52-week lows on Jan. 22)

  • Amneal Pharmaceuticals Inc (NYSE: AMRX)
  • China SXT Pharmaceuticals Inc (NASDAQ: SXTC)
  • Neon Therapeutics Inc (NASDAQ: NTGN)
  • Neuronetics Inc (NASDAQ: STIM)
  • Selecta Biosciences Inc (NASDAQ: SELB)
  • Translate Bio Inc (NASDAQ:TBIO)

Stock In Focus FDA Permits Biohaven To Proceed With Late-Stage Trial Of Drug It In-Licensed From AstraZeneca

Biohaven Pharmaceutical Holding Co Ltd (NYSE: BHVN) said the FDA has given it the greenlight to proceed with the Phase 3 trial of BHV-3241, which it had licensed from AstraZeneca plc (NYSE: AZN). This followed Biohaven's reactivation of the IND initially filed by AstraZeneca.

BHV-3241, a novel myeloperoxidase inhibitor being developing as a potential treatment for multiple system atrophy (MSA), a neurodegenerative disease.

Offerings

PTC Therapeutics, Inc. (NASDAQ: PTCT) has commenced a public offering of $200 million worth of shares. All shares are to be sold by the company.

PTC Therapeutics shares slipped 7.03 percent to $30.7 in after-hours trading.

Selecta Biosciences said its plans to offer shares of its common stock in an underwritten public offering. The company intends to use the net proceeds from the offering to advance the development of SEL-212, including the completion of a head-to-head superiority trial of SEL-212 compared to the current FDA-approved uricase therapy, completion of the Phase trial and preparations of a Phase 3 trial, among others.

Select Biosciences shares plummeted 18.42 percent to $1.55 in after-hours trading.

Mirati Therapeutics Inc (NASDAQ: MRTX) announced the closing of a previously announced underwritten public offering of 1.86 million shares of its common stock at a price of $62 per share. The company said it expects to mobilize gross proceeds of $115 million from the offering.

View more earnings on XBI

Mirati gained 2.41 percent to $65.50 in after-hours trading.

Urogen Pharma Ltd (NASDAQ: URGN) announced plans to offer $150 million worth of its common shares in an underwritten public offering.

See Also: Searching For A Treatment: NASH Investigational Drugs With Catalysts This Year

Unity Biotech Expands Phase 1 Study Of Osteoporosis Drug

Unity Biotechnology Inc (NASDAQ: UBX) is further expanding the Phase 1 study of UBX0101, which is being evaluated to treat moderate to severe osteoarthritis of the knee, adding a cohort of additional 24 patients to be treated at the highest evaluated dose of 4mg as Part B of the study.

"Part B is intended to supplement the initial Phase 1 trial (Part A) by further evaluating the impact of UBX0101 on specific pro-inflammatory and extracellular matrix modifying factors within the Senescence-Associated Secretory Phenotype (SASP)," the company said.

The company expects to release top-line results of both the Part A and Part B study in the second quarter of 2019.

Aslan Publishes New Pre-Clinical Data For Breast Cancer Drug

ASLAN PHARMACEU/ADR (NASDAQ: ASLN) announced publication of new preclinical data for its varlitinib in treating negative breast cancer, or TNBC, cell lines.

"The data suggest that HER-family signalling plays an important role in TNBC progression and that pan-HER inhibition is potentially an effective treatment for TNBC patients," the company said.

Varlitinib had earlier shown positive results in clinical study of patients with HER2 positive metastatic breast cancer, and it is also being evaluated in global studies in biliary tract cancer.

On The Radar Earnings

Abbott Laboratories (NYSE: ABT)

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