The Daily Biotech Pulse: Arsanis Completes X4 Merger, EC Nod For Roche, Axovant Offering

Here's a roundup of top developments in the biotech space over the last 24 hours.

Scaling The Peaks

(Biotech stocks hitting 52-week highs on March 13)

• Abbott Laboratories ABT
• Akari Therapeutics PLC AKTX(reported positive pre-IND meeting with the FDA)
• Array Biopharma Inc ARRY
• Ascendis Pharma A/S ASND
• CareDx Inc CDNA
• Chiasma Inc CHMA
• Denali Therapeutics Inc DNLI
• Edwards Lifesciences Corp EW
• Eli Lilly And Co LLY
• Guardant Health Inc GH(reacted to the fourth-quarter results)
• ITAMAR MED LTD/S ADR ITMR
• Kalvista Pharmaceuticals Inc KALV
• RA Medical Systems Inc RMED
• Tandem Diabetes Care Inc TNDM

Down In The Dumps

(Biotech stocks hitting 52-week lows on March 13)

• Achaogen Inc AKAO
• Aptinyx Inc APTX
• Soleno Therapeutics Inc SLNO

Stock In Focus

Arsanis Completes X4 Merger, To Change Name To X4 Pharma

X4 Pharma announced the completion of its merger with Arsanis Inc ASNS, effective March 13. The holders of X4 received 0.5702 shares of Arsani for each X4 share in the merger. Also, Arsanis effected a 6-for-1 reverse stock split Wednesday.

In connection with the merger, Arsanis will change its name to X4 Pharma and begin trading on the Nasdaq under the ticker symbol XFOR, effective March 14.

Arsanis stock slipped 4 percent to $3.84 in after-hours trading.

Axovant To Offer Shares

Axovant Sciences Ltd AXGT commenced an underwritten public offering of its common shares. All the shares are to be offered by the company.

The stock fell 9.60 percent to $1.60 in after-hours trading.

EC Approves Roche's Hemlibra for Prophylatic Treatment of Bleeding

Roche Holdings AG Basel ADR RHHBY said the European Commission has approved Hemlibra, which is being evaluated for routine prophylaxis of bleeding episodes in people with severe haemophilia A without factor VIII inhibitors.

See Also: Attention Biotech Investors: Mark Your Calendar For These March PDUFA Dates

Earnings

Melinta Therapeutics Inc MLNT reported fourth-quarter revenues of $35.49 million compared to $4.23 million a year ago. The net loss narrowed from $7.40 to $3.94.

For 2019, the company guided 2019 net product sales to about $65 million.

The stock rallied 17.39 percent to $5.67 in after-hours trading.

ADMA Biologics Inc ADMA reported 2018 revenues of $22.8 million, down $5.8 million from last year. The net loss for the year narrowed from $1.91 to $1.45.

The stock climbed 5.85 percent to $4.16 in after-hours trading.

Sophiris Bio Inc SPHS reversed to a fourth-quarter profit of 18 cents per share from a loss of 13 cents per share. Analysts had estimated a loss of 12 cents per share.

The stock jumped 24.22 percent to $1.19 in after-hours trading.

VolitionRX Ltd VNRX said it, along with its partners, have made significant progress, especially with the basics of its Nu Q platform and its expansion into new areas. The company said following the end of 2018, it has further strengthened its balance sheet, with existing investors exercising $6.7 million in outstanding warrants to purchase shares of its common stock.

Cash and cash equivalents as of Dec. 31, 2018 totaled $13.4 million compared to $10.1 million as of the end of 2017.

The stock gained 8.02 percent to $3.50 in after-hours trading.

On The Radar

Earnings

• Neos Therapeutics Inc NEOS (before the market open)
• Catabasis Pharmaceuticals Inc CATB (before the market open)
• Rockwell Medical Inc RMTI (before the market open)
• Avadel Pharmaceuticals PLC AVDL (before the market open)
• Eyepoint Pharmaceuticals Inc EYPT (before the market open)
• Aquestive Therapeutics Inc AQST (before the market open)
• Auris Medical Holding AG EARS (before the market open)
• Axsome Therapeutics Inc AXSM (before the market open)
• Progenics Pharmaceuticals, Inc. PGNX (before the market open)
• Viveve Medical Inc VIVE (after the market close)
• RA Medical Systems Inc RMED (after the market close)
• Tetraphase Pharmaceuticals Inc TTPH (after the market close)
• Zosano Pharma Corp ZSAN (after the market close)
• PDL BioPharma Inc PDLI (after the market close)
• BioDelivery Sciences International, Inc. BDSI (after the market close)
• BioTime, Inc. BTX (after the market close)
• Achieve Life Sciences Inc ACHV (after the market close)
• Athersys, Inc. ATHX (after the market close)
• BioNano Genomics Inc BNGO (after the market close)