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Benzinga's Daily Biotech Pulse: Vascular Biogenics Soars On Positive Platform Data, Axovant Licenses Parkinson's Candidate

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Benzinga's Daily Biotech Pulse: Vascular Biogenics Soars On Positive Platform Data, Axovant Licenses Parkinson's Candidate

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 June 5)

  • Haemonetics Corporation (NYSE: HAE)
  • Athersys, Inc. (NASDAQ: ATHX)
  • BIO-TECHNE Corp (NASDAQ: TECH)
  • CareDx Inc (NASDAQ: CDNA)
  • Champions Oncology Inc (NASDAQ: CSBR)
  • CONMED Corporation (NASDAQ: CNMD)
  • Deciphera Pharmaceuticals Inc (NASDAQ: DCPH)
  • Inogen Inc (NASDAQ: INGN)
  • Intuitive Surgical, Inc. (NASDAQ: ISRG)
  • Ligand Pharmaceuticals Inc. (NASDAQ: LGND)
  • Madrigal Pharmaceuticals Inc (NASDAQ: MDGL)
  • MEI Pharma Inc (NASDAQ: MEIP)
  • Mesa Laboratories, Inc. (NASDAQ: MLAB)
  • Oncolytics Biotech, Inc. (USA) (NASDAQ: ONCY)
  • Xencor Inc (NASDAQ: XNCR)

Down In The Dumps

(Stocks hitting 52-week lows on June 5)

  • DENTSPLY SIRONA Inc (NASDAQ: XRAY)
  • Puma Biotechnology Inc (NASDAQ: PBYI)
  • TrovaGene (NASDAQ: TROV)

Stocks In Focus

Vascular Biogenics Reports Positive Data On Platform

Vascular Biogenics Ltd (NASDAQ: VBLT) presented data on its novel MOSPD2 program in oncology and inflammation at the 2018 BIO International Convention, which showed that MOSPD2 plays a key role in the regulation of cell motility.

"We continue to advance our exciting VB-600 series of antibodies as drug candidates for oncology and inflammatory indications," the company said.

The company is developing the VB-600 platform of biologic drug candidates for oncology and inflammation, with an IND filing expected by year-end 2019.

The stock jumped 44.19 percent to $3.10 in after-hours trading Tuesday.

Related Link: Attention Biotech Investors: Mark Your Calendar For These June PDUFA Dates

Immunogen, Madrigal Announce Common Stock Offering

ImmunoGen, Inc. (NASDAQ: IMGN) said it intends to offer 12 million shares in an underwritten common stock offering, with the entire shares being sold by the company.

The stock fell 4.27 percent to $10.98 in after-hours trading.

Separately, Madrigal announced the commencement of a common stock offering of $200 million of its common stock.

Madrigal lost 1.77 percent to $5.33 in after-hours trading.

Axovant Licenses Parkinson's disease Gene Therapy Candidate

Axovant Sciences Ltd (NASDAQ: AXON) announced it has licensed the exclusive worldwide rights to develop and commercialize investigational gene therapy for Parkinson's disease OXB-102 – now renamed as AXO-Lenti-PD from Oxford BioMedica. Axovant said it plans to initiate a Phase 1/2 dose escalation study by the end of 2018.

The terms of the licensing deal calls for Axovant paying Oxford BioMedica $30 million in cash, potential milestone payments in excess of $812 million and tiered royalty on net sales, if AXO-Lenti-PD is approved.

The company also announced the appointment of Fraser Wright, an industry veteran, as the CTO for gene therapy programs.

EXACT Sciences Identifies Biomarker For Diagnosing Liver Cancer

EXACT Sciences Corporation (NASDAQ: EXAS) and Mayo Clinic have developed a panel of blood-based DNA biomarkers, which would help in detecting hepatocellular carcinoma, according to a presentation made at the Digestive Disease Week.

The stock was up 4.95 percent to $65.55 in after-hours trading.

Akcea Announces Addition to Board

Akcea Therapeutics Inc (NASDAQ: AKCA) said Richard Moscicki, who had a tenure in the FDA as well as pharma companies, has been appointed to its board.

The stock rose 3.26 percent to $23.79 in after-hours trading.

Posted-In: Biotech News Health Care Top Stories Pre-Market Outlook Trading Ideas General Best of Benzinga

 

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