Here's a roundup of top developments in the biotech space over the last 24 hours.
Scaling the Peaks
(Stocks hitting 52-week highs on Aug. 9)
- Acer Therapeutics Inc (NASDAQ: ACER)(HC Wainwright reiterated its Buy rating and $55 price target)
- AstraZeneca plc (ADR) (NYSE: AZN)
- Becton Dickinson and Co (NYSE: BDX)
- BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX)
- Celgene Corporation (NASDAQ: CELG)
- Crinetics Pharmaceuticals Inc (NASDAQ: CRNX)
- G1 Therapeutics Inc (NASDAQ: GTHX)(reported a narrower loss for its Q2)
- Harvard Bioscience, Inc. (NASDAQ: HBIO)
- Horizon Pharma PLC (NASDAQ: HZNP)
- Medtronic PLC (NYSE: MDT)
- Neurocrine Biosciences, Inc. (NASDAQ: NBIX)
- Neuronetics Inc (NASDAQ: STIM)
- Veracyte Inc (NASDAQ: VCYT)
- Vital Therapies Inc (NASDAQ: VTL)
- Xenon Pharmaceuticals Inc (NASDAQ: XENE)
Down In The Dumps
(Stocks hitting 52-week lows on Aug. 9)
- Adial Pharmaceuticals Inc (NASDAQ: ADIL)
- Chiasma Inc (NASDAQ: CHMA)
- CTI BioPharma Corp (NASDAQ: CTIC)
- OHR Pharmaceutical Inc (NASDAQ: OHRP)
- Osiris Therapeutics, Inc. (NASDAQ: OSIR)
- Sonoma Pharmaceuticals Inc (NASDAQ: SNOA)
- Synlogic Inc (NASDAQ: SYBX)(reacted to Q2 results after the close on Wednesday)
Stocks In Focus
Stocks Reacting To Earnings
Arca Biopharma Inc (NASDAQ: ABIO) reported a loss of 15 cents per share for Q2 compared to a loss of 59 cents per share a year ago. Analysts expected a wider loss of 22 cents per share. As of June 30, cash, cash equivalents and marketable securities totaled $9.6 million.
The stock fell 5.52 percent to $0.65 in after-hours trading.
Asterias Biotherapeutics Inc (NYSE: AST)'s net loss per share narrowed from 18 cents in Q217 to 13 cents in Q218. Analysts had looked ahead to a loss of 10 cents per share for the most recent second quarter. The company said it successfully lowered its cash burn rate, with cash, cash equivalents, and available-for-sale securities totaling $14.8 million as of June 30.
The stock moved up 9.68 percent to $1.70 in after-hours trading.
Regulus Therapeutics Inc (NASDAQ: RGLS) reported a net loss of 13 cents per share for Q2, narrower than the loss of 41 cents reported last year. Analysts, on average, had estimated a loss of 16 cents per share. Cash, cash equivalents and short-term investments totaled $32.9 million as of June 30.
The stock soared 15.81 percent to $0.2549 in after-hours trading.
Caladrius Biosciences Inc (NASDAQ: CLBS)'s Q2 net loss widened from 22 cents per share in Q2'17 to 42 cents per share in Q2'18. Analysts had estimated a wider loss of 64 cents per share.
The stock advanced 7.59 percent to $5.67 in after-hours trading.
Organovo Holdings Inc (NASDAQ: ONVO) said its fiscal-year 2019 first-quarter loss came in at 7 cents per share, wider than the loss of 10 cents per share last year . Revenues fell 30 percent year-over-year to $0.7 million. The loss per share is in line with expectations.
As of June 30, 2018, the Company had a cash and cash equivalents balance of $39.6 million, while it plans a net cash utilization rate of $22 million to $24 million in fiscal 2019
The stock declined 5.11 percent to $1.30 in after-hours trading.
Corcept Therapeutics (NASDAQ: CORT) reported non-GAAP net income of 20 cents per share for Q2, trailing the 24 cents per share estimated by analysts.
The company lowered its FY18 revenue guidance from $275 million to $300 million to $250 million to $275 million.
The stock plunged 19.17 percent to $11.30 in after-hours trading.
Puma Biotechnology Inc (NASDAQ: PBYI) reported a non-GAAP adjusted loss of 59 cents per share for Q2, narrower than the year-ago loss of $1.38 per share. On a GAAP basis the loss was $1.17 per share. Total revenues came in at $50.8 million.
The stock jumped 16.44 percent to $56.65 in after-hours trading.
Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) reported a non-GAAP net loss of 21 cents per share for Q2, while in the year-ago quarter, the company reported a loss of 11 cents per share. The company maintained its FY18 guidance at $95 million to $115 million. The loss was in line with expectations.
The stock climbed 8.67 percent to $21.80 in after-hours trading.
CareDx Inc (NASDAQ: CDNA) reported a 48 percent increase in revenues to $17.8 million. The net loss per share narrowed from 17 cents in Q217 to 4 cents in Q218. The company raised its FY18 revenue guidance from $64 million to $66 million to $68 million to $70 million.
The stock rose 17.03 percent to $17.52 in after-hours trading.
On The Radar
Regeneron Pharmaceuticals Inc (NASDAQ: REGN) awaits FDA decision on its Eylea for treating wet age-related macular degeneration. The PDUFA date is set for Saturday.
Also on Saturday, Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) has a tryst with the FDA regarding the NDA for Patisiran, its investigational RNAi therapeutic targeting transthyretin, or TTR, for treating hATTR amyloidosis. Alnylam uses Arbutus Biopharma Corp (NASDAQ: ABUS)'s intellectual property in RNAi therapeutic products.
See more from Benzinga
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- The Daily Biotech Pulse: FDA Snub For Gemphire, Ligand Earnings, Insmed's Antibiotic Faces FDA Panel
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