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 Feb. 27)
- Global Cord Blood Corp (NYSE: CO)
- Cleveland BioLabs, Inc. (NASDAQ: CBLI)
- Co-Diagnostics Inc (NASDAQ: CODX)
- Gilead Sciences, Inc. (NASDAQ: GILD)( announced initiation of two Phase 2 studies for remdesivir for treating COVID-19)
- Moderna Inc (NASDAQ: MRNA)
- Regeneron Pharmaceuticals Inc (NASDAQ: REGN)
- Repro-Med Systems, Inc. (NASDAQ: KRMD)
- Vir Biotechnology Inc (NASDAQ: VIR)
Down In The Dumps
(Biotech Stocks Hitting 52-week lows on Feb. 27)
- ABIOMED, Inc. (NASDAQ: ABMD)
- Acasti Pharma Inc. (NASDAQ: ACST)
- Accelerate Diagnostics Inc (NASDAQ: AXDX)
- AcelRx Pharmaceuticals Inc (NASDAQ: ACRX)
- Achieve Life Sciences Inc (NASDAQ: ACHV)
- Acorda Therapeutics Inc (NASDAQ: ACOR)
- Adamis Pharmaceuticals Corp (NASDAQ: ADMP
- Adial Pharmaceuticals Inc (NASDAQ: ADIL)
- Aerie Pharmaceuticals Inc (NASDAQ: AERI)
- Akers Biosciences Inc (NASDAQ: AKER)
- Aldeyra Therapeutics Inc (NASDAQ: ALDX)
- Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN)
- AngioDynamics, Inc. (NASDAQ: ANGO)
- ANCHIANO THERAP/S ADR (NASDAQ: ANCN)
- ANI Pharmaceuticals Inc (NASDAQ: ANIP)(reported below-consensus fourth-quarter results and issued downbeat guidance)
- Aptevo Therapeutics Inc (NASDAQ: APVO)
- Arca Biopharma Inc (NASDAQ: ABIO)(announced common stock offering)
- Arena Pharmaceuticals, Inc. (NASDAQ: ARNA)(reacted to its fourth-quarter results)
- Artelo Biosciences Inc (NASDAQ: ARTL)
- Atara Biotherapeutics Inc (NASDAQ: ATRA)(announced fourth-quarter results)
- Auris Medical Holding Ltd (NASDAQ: EARS)
- Autolus Therapeutics Ltd – ADR (NASDAQ: AUTL)
- AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO)
- Aytu Bioscience Inc (NASDAQ: AYTU)
- BENITEC BIOPHAR/S ADR (NASDAQ: BNTC)
- BioSig Technologies Inc (NASDAQ: BSGM)
- Black Diamond Therapeutics Inc (NASDAQ: BDTX)
- bluebird bio Inc (NASDAQ: BLUE)
- Blueprint Medicines Corp (NASDAQ: BPMC)
- Cara Therapeutics Inc (NASDAQ: CARA)
- CASI Pharmaceuticals Inc (NASDAQ: CASI)
- Chembio Diagnostics Inc (NASDAQ: CEMI)
- Chiasma Inc (NASDAQ: CHMA)
- CNS Pharmaceuticals Inc (NASDAQ: CNSP)
- Codexis, Inc. (NASDAQ: CDXS)
- Cumberland Pharmaceuticals, Inc. (NASDAQ: CPIX)
- Edesa Biotech Inc (NASDAQ: EDSA)
- Ekso Bionics Holdings Inc (NASDAQ: EKSO)
- Eloxx Pharmaceuticals Inc (NASDAQ: ELOX)(announced resignation of CEO Bob Ward and organizational realignment to focus on ELX-02 cystic fibrosis program)
- Enanta Pharmaceuticals Inc (NASDAQ: ENTA)
- Eton Pharmaceuticals Inc (NASDAQ: ETON)
- Evolus Inc (NASDAQ: EOLS)
- Galectin Therapeutics Inc. Common Stock (NASDAQ: GALT)
- GenMark Diagnostics, Inc (NASDAQ: GNMK)
- Genocea Biosciences Inc (NASDAQ: GNCA)
- Geron Corporation (NASDAQ: GERN)
- Global Cord Blood Corp (NYSE: CO)
- Gossamer Bio Inc (NASDAQ: GOSS)
- Heat Biologics Inc (NASDAQ: HTBX)
- HTG Molecular Diagnostics Inc (NASDAQ: HTGM)
- Illumina, Inc. (NASDAQ: ILMN)
- Ionis Pharmaceuticals Inc (NASDAQ: IONS)
- KemPharm Inc (NASDAQ: KMPH)
- KITOV PHARMA LT/S ADR (NASDAQ: KTOV)
- Kura Oncology Inc (NASDAQ: KURA)
- TapImmune Inc. (NASDAQ: MRKR)
- MediciNova, Inc. (NASDAQ: MNOV)
- Medigus Ltd. ADR (NASDAQ: MDGS)
- Mediwound Ltd (NASDAQ: MDWD)
- Menlo Therapeutics Inc (NASDAQ: MNLO)
- Merrimack Pharmaceuticals Inc (NASDAQ: MACK)
- Midatech Pharma PLC-ADR (NASDAQ: MTP)
- Misonix Inc (NASDAQ: MSON)
- Moleculin Biotech Inc (NASDAQ: MBRX)
- Myriad Genetics, Inc. (NASDAQ: MYGN)
- Neurometrix Inc (NASDAQ: NURO)
- Neuronetics Inc (NASDAQ: STIM)
- Novan Inc (NASDAQ: NOVN)
- NuCana PLC (NASDAQ: NCNA)
- Obalon Therapeutics Inc (NASDAQ: OBLN)
- Omeros Corporation (NASDAQ: OMER)
- OncoSec Medical Inc (NASDAQ: ONCS)
- Orthofix Medical Inc (NASDAQ: OFIX)
- Pacific Biosciences of California (NASDAQ: PACB)
- PDS Biotechnology Corp (NASDAQ: PDSB)
- Plus Therapeutics Inc (NASDAQ: PSTV)
- Portola Pharmaceuticals Inc (NASDAQ: PTLA)
- Precigen Inc (NASDAQ: PGEN)
- Precipio Inc (NASDAQ: PRPO)
- Predictive Oncology Inc (NASDAQ: POAI)
- Pulse Biosciences Inc (NASDAQ: PLSE)
- Radius Health Inc (NASDAQ: RDUS)(announced its fourth-quarter results)
- REDHILL BIOPHAR/S ADR (NASDAQ: RDHL)
- SAGE Therapeutics Inc (NASDAQ: SAGE)(reacted to its fourth-quarter results)
- Sangamo Therapeutics Inc (NASDAQ: SGMO)
- Sesen Bio Inc (NASDAQ: SESN)
- Solid Biosciences Inc (NASDAQ: SLDB)
- Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI)
- Stealth BioTherapeutics Corp (NASDAQ: MITO)
- Stemline Therapeutics Inc (NASDAQ: STML)
- SurModics, Inc. (NASDAQ: SRDX)
- Taro Pharmaceutical Industries Ltd. (NYSE: TARO)
- Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH)
- TherapeuticsMD Inc (NASDAQ: TXMD)
- Theratechnologies Inc (NASDAQ: THTX)
- Viking Therapeutics Inc (NASDAQ: VKTX)(reacted to its fourth-quarter results)
- VIVUS, Inc. (NASDAQ: VVUS)
- Voyager Therapeutics Inc (NASDAQ: VYGR)
- Xeris Pharmaceuticals Inc (NASDAQ: XERS)
- Zogenix, Inc. (NASDAQ: ZGNX)(announced extension in review period for seizure drug by three months)
- Zynerba Pharmaceuticals Inc (NASDAQ: ZYNE)
Stocks In Focus
Sangamo to License to Biogen 2 Pre-Clinical Genome-Editing Therapies For Treating Neurological Disorders
Sangamo and Biogen Inc (NASDAQ: BIIB) announced a global licensing collaboration agreement for developing and commercializing ST-501 for tautopathies including Alzheimer's disease, ST-502 for synucleinopathies, including Parkinson's disease, a third undisclosed neuromuscular disease target, and upto nine additional undisclosed neurological disease targets.
Biogen said it will leverage Sangamo's proprietary zinc finger protein technology delivered AAV to modulate the expression of key genes involves in neurological diseases.
Upon closing of the transaction, Sangamo will receive $350 million, comprising $125 million in license fee and $255 million from the sale of 24 million Sangamo stock at $9.21 per share. Sangamo is also eligible to receive up to $2.37 billion in other development, regulatory and commercial milestone payments, and tiered high single-digit to sub-teen double-digit royalties on potential net commercial sales of products arising from the collaboration.
Sangamo shares soared 39.68% to $9.31 in after-hours trading, while Biogen slid 0.57% to $308.30.
Sonoma Strikes $1M Distribution Deal In Eurasia
Sonoma Pharmaceuticals Inc (NASDAQ: SNOA) said it closed an asset purchase agreement with MicroSafe Group for certain wound care, disinfection and animal healthcare products in the Middle East, Australia and Europe for $1.1 million
The stock jumped 11.54% to $5.80 in after-hours trading.
Biohaven Receives FDA Approval For Migraine Drug
Biohaven Pharmaceutical Holding Co Ltd (NYSE: BHVN) said the FDA approved its Nurtec ODT, or rimegepant, for the acute treatment of migraine in adults. The company said its Nurtec ODT is a dissolving tablet, with one tablet having the potential to provide fast relief, helping patients return to normal function within one hour, and deliver sustained efficacy that lasts up to 48 hours.
The stock rallied 10.24% to $45 in after-hours trading.
Illumina Files Patent Lawsuit In US Related to Proprietary Sequencing Chemistry
Illumina said it has filed a patent infringement suit against BGI Genomics, BGI Americas, MGI Tech, MGI Americas and Complete Genomics in the U.S. District Court for the Northern District of California, alleging that plaintiffs infringed three patents covering its proprietary sequencing-by-synthesis chemistry.
Coherus Biosciences Inc's (NASDAQ: CHRS) fourth-quarter net product revenues came in at $123.86 million compared to no revenues a year ago. The earnings per share, or EPS, declined from 92 cents to 53 cents. Analysts estimated EPS of 72 cents per share.
The stock slipped 8.81% to $17.50 in after-hours trading.
Zynex Inc. (NASDAQ: ZYXI) fourth-quarter net revenues climbed 52% to $14.2 million. EPS increased a penny to 9 cents. The company issued above-consensus revenue guidance for the full-year 2020 as well as the first quarter.
The stock jumped 11.58% to $13.30 in after-hours trading.
TRACON Pharmaceuticals Inc (NASDAQ: TCON) reported a loss for its fourth quarter that was narrower than estimates.
The stock rallied 20.34% to $3.55 in after-hours trading.
Mylan NV (NASDAQ: MYL) reported 4% revenue growth to $3.19 billion in the fourth quarter, shy of estimates by some analysts. The adjusted EPS rose from $1.30 to $1.40, while analysts estimated EPS of $1.28. The company lowered the low end of its 2020 revenue guidance and widened its adjusted EBITDA guidance.
The stock moved down 3.64% to $18 in after-hours trading.
Novan priced its previously announced public offering of 18.33 million shares and warrants to purchase an aggregate of 18.33 million shares at a combined effective price of 30 cents per share and accompanying common warrant. The company expects the offering to close on or about March 3. Gross proceeds from the offering are estimated at $5.5 million.
On The Radar
Galera Therapeutics Inc (NASDAQ: GRTX) is scheduled to release Phase 2b data for GC4419 in oral mucositis. The data is to be presented at the Multidisciplinary Head and Neck Cancers Symposium.
Passage Bio, a biotech developing gene therapies for central nervous system disorders, has priced its upsized offering of 12 million shares at $18, the upper bound of the previously estimated price range of $16-$18. The shares are to be listed on the Nasdaq under the ticker symbol PASG.