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

Scaling the Peaks

(Stocks hitting 52-week highs on May 1)

• ABIOMED, Inc. (NASDAQ:ABMD)
• AveXis Inc (NASDAQ:AVXS) (announced expiry of Anti-trust waiting period for its proposed acquisition by Novartis AG (ADR) (NYSE:NVS))
• CareDx Inc (NASDAQ:CDNA)
• Eleven Biotherapeutics Inc (NASDAQ:EBIO)
• Eloxx Pharmaceuticals Inc (NASDAQ:ELOX) (announced completion of common stock offering)
• Inogen Inc (NASDAQ:INGN)(on beat-and-raise Q1)
• Novocure Ltd (NASDAQ:NVCR)
• Sophiris Bio Inc (NASDAQ:SPHS)

Down In The Dumps

(Stocks hitting 52-week lows on May 1)

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

Stocks In Focus

FDA Panel Backs SIGA's Pediatric Smallpox Treatment

The stock rallied 11.37 percent to $6.56 in after hours, Tuesday.

Rigel Rallies On In-line Q1 Loss, Tavalisse Update

The stock rallied after hours and was up more than 12 percent Wednesday morning.

Gilead Earnings Doesn't Soothe Investors

Gilead Sciences, Inc. (NASDAQ:GILD) said its Q1 non-GAAP earnings per share and revenues declined year-over-year. Both metrics trailed expectations. The stock fell 6 percent to $68.20.

Novartis Secures Second FDA Approval for Kymriah

Novartis announced it has received second approval for kymriah, its CAR-T therapy for treating adult patients with relapsed or refractory large B-cell lymphoma after two or more lines of systemic therapy.

Kymriah is an immunocellular therapy meant to be a one-time treatment, manufactured individually for each patient using his own T cells.

On The Radar

The following companies report earnings on Wednesday:

Other Events

FDA's Antimicrobial Drugs Advisory Committee is scheduled to deliberate on Achaogen Inc (NASDAQ:AKAO)'s plazomicin for complicated urinary tract infections and blood stream infections in adults. The stock was halted Wednesday morning.

FDA Tidbits

The FDA and FTC announced on Tuesday they would initiate action against companies, including manufacturers, distributors and retailers who sell e-liquids used in e-cigars, with labeling and advertising that mislead children into thinking they are juice boxes, candies or cookies.