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The Daily Biotech Pulse: Revance Common Stock Offering, Adcom Catalyst For Amgen

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 Jan. 15)

  • Adial Pharmaceuticals Inc (NASDAQ: ADIL)
  • Avenue Therapeutics Inc (NASDAQ: ATXI)
  • SI-Bone Inc (NASDAQ: SIBN)

Down In The Dumps

(Biotech stocks hitting 52-week lows Jan. 15)

  • Bio-Path Holdings Inc (NASDAQ: BPTH)(priced 8.59 million common stock offering at 13 cents per share)
  • Neuronetics Inc (NASDAQ: STIM)
  • Selecta Biosciences Inc (NASDAQ: SELB)

Stock In Focus Revance to Offer $100M Worth Shares

Revance Therapeutics Inc (NASDAQ: RVNC) said it will sell $100 million shares in an underwritten common stock offering. The company intends to use the net proceeds for working capital and general corporate purposes, including clinical trial and related expenses, research and development expenses, general and administrative expenses, and capital investments.

The stock fell 4.41 percent to $19.30 in after-hours trading.

ContraVir, Trovagene Adjourn Shareholder Meetings

ContraVir Pharmaceuticals Inc (NASDAQ: CTRV) said its 2018 annual stockholders meeting originally scheduled for Jan. 15 stands adjourned due to a lack of quorum on the proposals to be approved,

Separately, TrovaGene Inc (NASDAQ: TROV) announced adjournment of its annual shareholders meetings, scheduled for Jan. 15, to Feb. 12.

"At the meeting, it was deemed that the holders of a sufficient number of Trovagene's outstanding common stock have not yet submitted proxies to indicate how their shares should be voted and additional time was needed to collect the required votes," the company said.

In after-hours trading, ContraVir rose 2.48 percent to 34 cents and Trovagene climbed 2.88 percent to 55 cents.

On The Radar Adcom Meeting

The Bone, Reproductive and Urologic Drugs Advisory Committee is scheduled to discuss Amgen, Inc. (NASDAQ: AMGN)'s BLA for romosozumab injection for treating osteoporosis in postmenopausal women at high risk of fracture.

Related Link:

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

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