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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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(Biotech stocks hitting 52-week highs on Oct. 9)
- Aprea Therapeutics Inc (NASDAQ:APRE) (IPOed Oct. 3)
Down In The Dumps
(Biotech stocks hitting 52-week lows on Oct. 9)
- ABIOMED, Inc. (NASDAQ:ABMD)
- Adamas Pharmaceuticals Inc (NASDAQ:ADMS)
- Aerie Pharmaceuticals Inc (NASDAQ:AERI)
- Aerpio Pharmaceuticals Inc (NASDAQ:ARPO)
- AEterna Zentaris Inc. (NASDAQ:AEZS)
- Agios Pharmaceuticals Inc (NASDAQ:AGIO)
- Albireo Pharma Inc (NASDAQ:ALBO)
- Arbutus Biopharma Corp (NASDAQ:ABUS)
- Assembly Biosciences Inc (NASDAQ:ASMB)
- Aurinia Pharmaceuticals Inc (NASDAQ:AUPH)
- BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX)
- BioNano Genomics Inc (NASDAQ:BNGO)
- BridgeBio Pharma Inc (NASDAQ:BBIO)
- Caladrius Biosciences Inc (NASDAQ:CLBS)
- Calithera Biosciences Inc (NASDAQ:CALA)
- Citius Pharmaceuticals Inc (NASDAQ:CTXR)
- Clovis Oncology Inc (NASDAQ:CLVS)
- CymaBay Therapeutics Inc (NASDAQ:CBAY)
- CytomX Therapeutics Inc (NASDAQ:CTMX)
- DelMar Pharmaceuticals Inc (NASDAQ:DMPI)
- Enanta Pharmaceuticals Inc (NASDAQ:ENTA)
- Erytech Pharma SA (NASDAQ:ERYP)
- Exagen Inc (NASDAQ:XGN)
- Fulcrum Therapeutics Inc (NASDAQ:FULC)
- Galmed Pharmaceuticals Ltd (NASDAQ:GLMD)
- Gossamer Bio Inc (NASDAQ:GOSS)
- Heat Biologics Inc (NASDAQ:HTBX)
- Homology Medicines Inc (NASDAQ:FIXX)
- INmune Bio Inc (NASDAQ:INMB)
- Intellia Therapeutics Inc (NASDAQ:NTLA)
- Intercept Pharmaceuticals Inc (NASDAQ:ICPT)
- Iterum Therapeutics PLC (NASDAQ:ITRM)
- IVERIC bio Inc (NASDAQ:ISEE)
- Kiniksa Pharmaceuticals Ltd (NASDAQ:KNSA)
- Neuralstem, Inc. (NASDAQ:CUR)
- Neurometrix Inc (NASDAQ:NURO)
- Neurotrope Inc (NASDAQ:NTRP)
- Novus Therapeutics Inc (NASDAQ:NVUS)
- Obalon Therapeutics Inc (NASDAQ:OBLN)
- Onconova Therapeutics Inc (NASDAQ:ONTX)
- Orgenesis Inc (NASDAQ:ORGS)
- Phio Pharmaceuticals Corp (NASDAQ:PHIO)
- Puma Biotechnology Inc (NASDAQ:PBYI)
- Satsuma Pharmaceuticals Inc (NASDAQ:STSA) Sierra Oncology Inc (NASDAQ:SRRA)
- Sorrento Therapeutics Inc (NASDAQ:SRNE)
- Trevi Therapeutics Inc (NASDAQ:TRVI)
- TrovaGene Inc (NASDAQ:TROV)
- Urogen Pharma Ltd (NASDAQ:URGN)
- Viela Bio Inc (NASDAQ:VIE)
- Viking Therapeutics Inc (NASDAQ:VKTX)
Stocks In Focus
Ra Pharma Agrees to be Acquired By UCB For $2.5B In Cash
Ra Pharmaceuticals Inc (NASDAQ:RARX) announced an agreement to be acquired by Belgian biopharma UCB for $48 per share in cash or $2.5 billion in total. The boards of both companies approved the transaction,
The addition of Ra Pharma's Phase 3 asset zilucoplan to UCB's anti-FcRn rozanolixizumab, according to the companies, provide an opportunity to give better treatment options for people living with myasthenia gravis. Additionally, the Ra Pharma deal enables UCB to offer new treatment opportunities for several rare diseases in neurology and immunology as well as different delivery forms, including extended release and orally available product.
Ra Pharma shares were surging 107.36% to $47.06 in pre-market trading.
Reata Reacquires Rights to Nrf2 Activators From AbbVie
Reata Pharmaceuticals Inc (NASDAQ:RETA) has reacquired the development, manufacturing and commercialization rights covering its proprietary Nrf2 activator product platform originally licensed to AbbVie Inc (NYSE:ABBV) for territories outside of the U.S., with respect to bardoxolone methyl, and worldwide with respect to omaveloxolone and other next-generation Nrf2 activators.
For the reacquisition of rights, Reata has agreed to pay AbbVie a total of $330 million in cash. AbbVie will also receive low single-digit, tiered royalties from worldwide sales of omaveloxolone and certain next-generation Nrf2 activators, and no royalties on bardoxolone.
On The Radar
Clinical Trial Readouts
Akari Therapeutics PLC (NASDAQ:AKTX) is scheduled to present additional Phase 2 data for Coversin in bullous pemphigoid at the 28th European Academy of Dermatology and Venereology, or EADV, Congress being held in Madrid, Spain.
AbbVie Inc (NYSE:ABBV) is due to present Phase 3 data for Risankizumab in psoriasis at the EADV Congress.
ProQR Therapeutics NV (NASDAQ:PRQR) will present Phase 1/2 data for sepofarsen in Leber's Congenital Amaurosis (LCA), an inherited eye disorder that primarily affects the retina. The presentation will be made ahead of the American Academy of Ophthalmology's annual meeting to be held in San Francisco, California.
IPOs
"BioNTech," a German biotech developing individualized monotherapies for cancer, priced at its downsized offering of 10 million shares at $15 per share, below the estimated price range of $18-$20. The company's shares are to be to listed on the Nasdaq under the ticker symbol "BNTX."
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.