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Benzinga's Daily Biotech Pulse: Catabasis Soars On Trial Results, Eloxx Listing, Biomarin Earnings

Benzinga's Daily Biotech Pulse: Catabasis Soars On Trial Results, Eloxx Listing, Biomarin Earnings

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 April 25)

  • Eleven Biotherapeutics Inc (NASDAQ: EBIO)
  • Integra Lifesciences Holdings Corp (NASDAQ: IART) (on a beat-and-raise quarter)

Down In The Dumps

(Stocks hitting 52-week lows on April 25)

ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) shares ended Wednesday's session down over 21 percent following a CNN report that said the FDA has begun to re-examine the safety profile of its Nuplazid, which is approved to treat hallucinations and delusions associated with Parkinson's disease psychosis, at the behest of Congress.

  • Amarin Corporation plc (ADR) (NASDAQ: AMRN)
  • Biocept Inc (NASDAQ: BIOC)
  • Cesca Therapeutics Inc NASDAQ: KOOL)
  • Clovis Oncology Inc (NASDAQ: CLVS)
  • Cocrystal Pharma Inc (NASDAQ: COCP)
  • IntelliPharmaCeutics Intl Inc (USA) (NASDAQ: IPCI)
  • Invivo Therapeutics Holdings Corp (NASDAQ: NVIV)
  • Onconova Therapeutics Inc (NASDAQ: ONTX)
  • Reshape Lifesciences Inc (NASDAQ: RSLS)
  • Synergy Pharmaceuticals Inc (NASDAQ: SGYP)

Stocks In Focus

Eloxx To Begin Trading On Nasdaq

Eloxx Pharmaceuticals Inc (NASDAQ: ELOX) shares, which were trading on the OTC, will begin to trade on the Nasdaq under the ticker symbol "ELOX" on Thursday. The company also announced it has priced its underwritten public offering of 5.13 million shares at $9.75 per share.

Catabasis Releases Positive DMD Phase 2 Trial Results

Catabasis Pharmaceuticals Inc (NASDAQ: CATB), a clinical-stage biopharma company, announced after Wednesday's close new positive magnetic resonance efficacy results for its edasalonexent from a Phase 2 MoveDMD trial. The results showed slowed disease progression in boys with Duchenne muscular dystrophy – a genetic disorder, which manifests as progressive muscle degeneration and weakness.

The stock was up 14 percent at $1.85.

Biomarin Reports Wider-than-Expected Q1 Loss

BioMarin Pharmaceutical Inc. (NASDAQ: BMRN), which specializes in enzyme replacement therapy, reported Q1 loss of 26 cents per share compared to a loss of 9 cents per share a year ago. Analysts, on average, estimated a loss of 18 cents per share. Revenues rose about 23 percent to $373.45 million, and exceeded the consensus estimate. The stock fell 1.39 percent to $18.40.

On The Radar

The following companies report earnings on Thursday:

  • AbbVie Inc NYSE: (NYSE: ABBV) Q1 EPS $1.87 Beats $1.79 Est., Sales $7.93B Beats $7.6B Est.
  • Alkermes Plc (NASDAQ: ALKS) Q1 Adj. EPS $(0.09) Misses $(0.07) Est., Sales $225.2M Beats $219M Est.
  • Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) Q1 Adj. EPS $1.68 Beats $1.50 Est., Sales $930.9M Beats $923M Est.
  • Bristol-Myers Squibb Co (NYSE: BMY) Q1 Adj. EPS $0.94 Beats $0.85 Est., Sales $5.193B Misses $5.24B Est.
  • Zimmer Biomet Holdings Inc (NYSE: ZBH) Q1 Adj. EPS $1.91 Beats $1.89 Est., Sales $2.018B Beats $1.98B Est.
  • Abaxis Inc (NASDAQ: ABAX)
  • Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX)

FDA Tidbits

The FDA is clamping down on e-cigar maker Juul Labs, with Commissioner Scott Gottlieb announcing new enforcement actions and a "Youth Tobacco Prevention Plan" to prevent youth from accessing e-cigars. According to TechCrunch, Juul Labs has about half of the $2 billion market for e-cigars.

Related Links:

The Week Ahead In Biotech: PDUFA Dates, IPOs And More

Baird: Biogen A Buy On M&A Prospects, Underappreciated Franchises

Posted-In: Biotech Earnings News FDA Trading Ideas Best of Benzinga


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