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Here's a roundup of top developments in the biotech space over the last 24 hours.
Scaling the Peaks
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(Stocks hitting 52-week highs on Sept. 6)
- Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR)(announced positive Phase 1 data for its hepatitis B treatment ARO-HBV)
- Insulet Corporation (NASDAQ:PODD)
- Kiniksa Pharmaceuticals Ltd (NASDAQ:KNSA)
- Repligen Corporation (NASDAQ:RGEN)
Down In The Dumps
(Stocks hitting 52-week lows on Sep. 6)
- Amicus Therapeutics, Inc. (NASDAQ:FOLD)
- Chimerix Inc (NASDAQ:CMRX)
- Constellation Pharmaceuticals Inc (NASDAQ:CNST)
- Kala Pharmaceuticals Inc (NASDAQ:KALA)
- REALM THERAPEUTICS ADR (NASDAQ:RLM)
- XBiotech Inc (NASDAQ:XBIT)
Stocks In Focus
Amgen-AstraZeneca Combo's Asthma Drug Gets Breakthrough Designation Status
Amgen, Inc. (NASDAQ:AMGN) and AstraZeneca plc (ADR) (NYSE:AZN) announced that their telepelumab to treat patients with severe asthma without an eosinophilic phenotype has been granted breakthrough designation status by the FDA.
The status was accorded based on the Phase 2b PATHWAY study that showed a significant reduction in the annual asthma exacerbation rate compared with placebo. The candidate is currently in the Phase 3 PATHFINDER clinical trial program.
Dicerna Prices Follow-On Offering
Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) priced its underwritten public offering of 7.68 million shares at $13.02, the level at which they closed Thursday following a 18.11 percent plunge in reaction to the announcement concerning the offering.
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The stock slid an incremental 1.31 percent to $12.85 in after-hours trading.
See Also: The Week Ahead In Biotech: Conferences, PDUFA Dates, Clinical Trials And Earnings
Advaxis To Offer Common Stock And Warrants
Advaxis, Inc. (NASDAQ:ADXS) intends to offer and sell shares of its common stock, with each share to be sold together in a fixed combination with a warrant to purchase common stock. The company said it will use the proceeds for expanding its product pipeline and for other general corporate purposes.
The stock slumped 18.18 percent to $1.17 in after-hours trading.
Boston Scientific To Buy Augmenix
Boston Scientific Corporation (NYSE:BSX) announced a deal to buy privately-held Augmenix, the developer of the SpaceOAR System, a therapy to reduce side effects men experience after prostate cancer radiotherapy.
The deal provides for Boston Scientific paying an upfront cash payment of $500 million, and up to $100 million for reaching sales-based milestones.
Zealand Pharma to Sell Royalty and Milestones for $205 Million
ZEALAND PHARMA/S ADR (NASDAQ:ZEAL) has agreed to sell future royalty streams and $85 million of potential commercial milestones for Soliqua, Suliqua and Lyxumia to Royalty Pharma for $205 million, with the sales proceeds realizable following the close of the transaction expected later this month.
Zealand also said it will redeem outstanding Royalty bonds valued at $24.7 million after which it will be debt free. The transaction will immediately provide substantial value and secure funding for the development of its fully-owned product pipeline.
The stock rose 7.86 percent to $15.50 in after-hours trading.
On The Radar
The FDA is set to rule on GlaxoSmithKline plc (ADR) (NYSE:GSK)'s sBLA Mepolizumab for treating Chronic obstructive pulmonary disease, or COPD, with an eosinophilic phenotype. A FDA committee, which met in late July to discuss the sBLA, had voted against the approval by a 16-3 margin.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.