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The Daily Biotech Pulse: Tracon Aces Early-Stage Trials, Boston Scientific To Buy Out Millipede

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. 26)

  • Adial Pharmaceuticals Inc (NASDAQ: ADIL)

Down In The Dumps

(Biotech stocks hitting 52-week lows on Dec. 26)

  • Aerpio Pharmaceuticals Inc (NASDAQ: ARPO)
  • Aevi Genomic Medicine Inc (NASDAQ: GNMX)
  • Alpine Immune Sciences Inc (NASDAQ: ALPN)
  • Applied DNA Sciences Inc (NASDAQ: APDN)
  • Arca Biopharma Inc (NASDAQ: ABIO)
  • Arcadia Biosciences Inc (NASDAQ: RKDA)
  • Avadel Pharmaceuticals PLC (NASDAQ: AVDL)
  • Avanos Medical Inc (NYSE: AVNS)
  • Becton Dickinson and Co (NYSE: BDX)
  • BioNano Genomics Inc (NASDAQ: BNGO)
  • Bio-Rad Laboratories, Inc. Class A (NYSE: BIO)
  • Bio-Path Holdings Inc (NASDAQ: BPTH)
  • BioXcel Therapeutics Inc (NASDAQ: BTAI)
  • Capricor Therapeutics Inc (NASDAQ: CAPR)
  • Corvus Pharmaceuticals Inc (NASDAQ: CRVS)
  • Enzo Biochem, Inc. (NYSE: ENZ)
  • Entasis Therapeutics Holdings Inc (NASDAQ: ETTX)
  • Genocea Biosciences Inc (NASDAQ: GNCA)
  • Heat Biologics Inc (NASDAQ: HTBX)
  • KemPharm Inc (NASDAQ: KMPH)
  • Melinta Therapeutics Inc (NASDAQ: MLNT)
  • Menlo Therapeutics Inc ((NASDAQ: MNLO)
  • Moderna Inc (NASDAQ: MRNA)
  • Neuralstem, Inc. (NASDAQ: CUR)
  • Novan Inc (NASDAQ: NOVN)
  • Novus Therapeutics Inc (NASDAQ: NVUS)
  • Ophthotech Corp (NASDAQ: OPHT)
  • Oramed Pharmaceuticals, Inc. (NASDAQ: ORMP)
  • Otonomy Inc (NASDAQ: OTIC)
  • PLx Pharma Inc (NASDAQ: PLXP)
  • Quest Diagnostics Inc (NYSE: DGX)
  • RA Medical Systems Inc (NYSE: RMED)
  • Ritter Pharmaceuticals Inc (NASDAQ: RTTR)
  • Selecta Biosciences Inc (NASDAQ: SELB)
  • Spring Bank Pharmaceuticals Inc (NASDAQ: SBPH)
  • Unum Therapeutics Inc (NASDAQ: UMRX)
  • Vermillion, Inc. (NASDAQ: VRML)
  • VIVUS, Inc. (NASDAQ: VVUS)
  • ZIOPHARM Oncology Inc. (NASDAQ: ZIOP)
  • Zosano Pharma Corp (NASDAQ: ZSAN)

See Also: The Week Ahead In Biotech: Focus Shifts To Year-End Clinical Trial Results

Stocks In Focus TRACON's Lung Cancer Drug Found Safe In Early-stage Trial

TRACON Pharmaceuticals Inc (NASDAQ: TCON) announced positive results from a Phase 1b study of TRC105+ Bristol-Myers Squibb Co (NYSE: BMY)'s Opdivo, which is being evaluated for the treatment of non-small cell lung cancer.

Patients were administered either 8mg/kg or 10 mg/Kg of TRC105 weekly four doses and then 15 mg/kg dose every two weeks, in combination with Opdivo of 240 mg.

The combination, according to the company, was well-tolerated without the development of dose limiting toxicity in six patients who were treated as part of dose escalation.

The company said it is currently enrolling in two parallel, 12-patient expansion cohorts, with one cohort testing who have relapsed following prior PD-1/PD-L1 checkpoint inhibition treatment, and the other consisting of patients who have not received prior PD-1/PD-L1 checkpoint inhibition treatment.

The penny stock soared 39.66 percent to 81 cents in pre-market trading.

Boston Scientific Buys Out Remaining Stake In Millipede

Boston Scientific Corporation (NYSE: BSX) said it has exercised its option to buy the remaining shares it already does not own in privately-held Millipede, with the acquisition seen to expand the former's Structural Heart Portfolio. This deal will add to Boston Scientific's portfolio IRIS Transcatheter Annuloplasty Ring System, which is being developed for treating patients with severe mitral regurgitation, who are not able to tolerate an open-heart surgery.

Boston Scientific initially made a $90 million investment in Millipede in January, with an option to purchase the remaining shares for $325 million at closing.

Dr. Reddy's Launches Generic Version of Sanofi's Renvela In The U.S.

Dr.Reddy's Laboratories Ltd (NYSE: RDY) announced the launch of Sevelamer Carbonate for oral suspension, in 0.8g and 2.4g packets, in the U.S. Sevelamer Carbonate oral suspension is the generic equivalent of Sanofi SA (NYSE: SNY)'s Renvela for oral suspension, which has been approved by the FDA for controlling serum phosphorus in adults with chronic kidney disease on dialysis.

Both branded and generic Renvela had U.S. sales of about $101 million in the trailing twelve months ended October 2018, Dr. Reddy's said, citing IMS data.

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