The following is a roundup of top developments in the biotech space over the last 24 hours.
Scaling The Peaks
(Biotech stocks that struck 52-week highs on Sept. 19.)
- Acceleron Pharma Inc XLRN
- Abbott Laboratories ABT
- AtriCure Inc. ATRC
- Avrobio Inc AVRO
- Champions Oncology Inc CSBR
- Emergent Biosolutions Inc EBS
- Genomic Health, Inc. GHDX
- Myovant Sciences Ltd MYOV
- Novocure Ltd NVCR
- OptimizeRx Corporation OPRX
- Pacira Pharmaceuticals Inc PCRX
- Pfizer Inc. PFE
- Shire PLC SHPG
Down In The Dumps
(Biotech stocks that hit 52-week lows on Sept. 19.)
- Bio-Path Holdings Inc BPTH
- Eidos Therapeutics Inc EIDX
- Neon Therapeutics Inc NTGN
- Reshape Lifesciences Inc RSLS
See also: New Class of Migraine Drug Creates Four-Way Pharma Development Race
Stocks In Focus
Adverum's Eye Drug Snags Fast Track Designation
Adverum Biotechnologies Inc ADVM announced the FDA has granted Fast Track designation for ADVM-022, its novel gene therapy to treat wet age-related macular degeneration.
The designation enables more frequent communication with the FDA throughout the development and review process, and also provides eligibility for Priority Review and Accelerated Approval.
The stock rallied 8.09 percent to $6.35 after-hours Wednesday.
Erytech Begins Patient Enrollment For Pancreatic Cancer Late-Stage Trial
Erytech Pharma SA ERYP said the first three patients have been enrolled in the pivotal Phase 3 trial dubbed TRYbeCA1 that is evaluating its lead product candidate eryapase for the treatment of second-line metastatic pancreatic cancer.
Forward Pharma Posts A Loss In H1
Dutch pharma company Forward Pharma A/S FWP reported a loss of 6 cents per share for the six-month period ended June 30 compared to a profit of $1.67 per share for the year-ago period. The company did not recognize any revenues in the 2018 period, while a year ago it earned revenue of $1.25 billion from a non-recurring, non-refundable fee received in February in connection with the settlement and license agreement with the two wholly owned subsidiaries of Biogen Inc BIIB.
Stock Offerings
Crispr Therapeutics AG CRSP said it is commencing an underwritten public offering of $200 million worth of shares. The company noted that an automatic shelf-registration statement on Form 3-3ASR related to these securities has been filed with the SEC and has become effective.
The stock fell 4.66 percent to $49.53 in after-hours trading Wednesday.
Viking Therapeutics Inc VKTX said it intends to offer and sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. The company said it intends to use the net proceeds to develop its VK2809, VK5211 and VK0214 programs and for general R&A, working capital and general corporate purposes.
The stock slid 0.92 percent to $19.46 after-hours Wednesday.
Molecular Templates Inc MTEM announced its intention to offer $30 million worth of its common stock in an underwritten public offering. All the shares are to be sold by the company.
The company said it intends to the use the proceeds to fund its clinical programs among other uses.
The stock slumped 10.24 percent to $5.61 after-hours Wednesday.
On The Radar
IPO
Elanco Animal Health, a spin-off unit of Eli Lilly And Co LLY's global animal health medicines and vaccines business, priced its 62.9-million-share IPO at $24 per share, above an estimated range of $20-$23. The shares will be listed on the NYSE under the ticker symbol ELAN.
Related Link: The Week Ahead In Biotech (Sept. 16-22): Conferences, PDUFA Dates, Clinical Trial Results And IPOs
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