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The Daily Biotech Pulse: Denali's Parkinson's Candidate Clears Early-Stage Trials, Dexcom's Strong Quarter

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The Daily Biotech Pulse: Denali's Parkinson's Candidate Clears Early-Stage Trials, Dexcom's Strong Quarter
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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 Aug. 1)

  • Bio-Rad Laboratories, Inc. (NYSE: BIO)
  • CAS Medical Systems Inc (NASDAQ: CASM)
  • Chembio Diagnostics Inc (NASDAQ: CEMI)
  • Cardiome Pharma Corp (NASDAQ: CORV)
  • Eli Lilly And Co (NYSE: LLY)
  • Inspire Medical Systems Inc (NYSE: INSP)
  • G1 Therapeutics Inc (NASDAQ: GTHX)
  • Iradimed Corp (NASDAQ: IRMD)
  • Neurocrine Biosciences, Inc. (NASDAQ: NBIX) )(reported above-consensus Q3 results)
  • Natera Inc (NASDAQ: NTRA)
  • Qiagen NV (NYSE: QGEN)(reacted to Q2 results)

Down In The Dumps

(Stocks hitting 52-week lows on Aug. 1)

  • Catabasis Pharmaceuticals Inc (NASDAQ: CATB)
  • ConforMIS Inc (NASDAQ: CFMS)
  • Genocea Biosciences Inc (NASDAQ: GNCA)
  • Midatech Pharma PLC-ADR (NASDAQ: MTP)
  • NewLink Genetics Corp (NASDAQ: NLNK)(reported a narrower loss for Q2)
  • Paratek Pharmaceuticals Inc (NASDAQ: PRTK)
  • Radius Health Inc (NASDAQ: RDUS)
  • Rubius Therapeutics Inc (NASDAQ: RUBY)
  • Verrica Pharmaceuticals Inc (NASDAQ: VRCA)

Stocks In Focus

Denali's Parkinson's Disease Drug Trial Produces Positive Results

Denali Therapeutics Inc (NASDAQ: DNLI) reported positive results for the Phase 1 study of its DNL201, with the Parkinson's disease treatment candidate achieving its safety, pharmacokinetic, and pharmacodynamic objectives. The candidate was well tolerated, with no serious adverse at doses that achieved high levels of cerebrospinal fluid exposure, the company said.

DNL201 is a small molecule inhibitor of leucine-rich repeat kinase 2, or LRRK2 gene. Mutations in the gene are the most frequent cause of Parkinson's disease.

Shares rallied 6.83 percent to $13.60 in after-hours trading.

BioCryst Prices Common Stock Offering

BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) priced its public offering of 9.09 million shares at $5.50 per share, with the offering likely to generate gross proceeds of $50 million.

The stock fell 3.99 percent to $5.30 in after-hours trading.

Adamas To Offer Shares

Adamas Pharmaceuticals Inc (NASDAQ: ADMS) said it intends to offer shares in an underwritten public offering.

The stock fell 7.58 percent to $3.05 in after-hours trading.

Stocks Reacting to Earnings

AxoGen, Inc (NASDAQ: AXGN) – Down 20.09 percent to $37 (reported Q2 loss of 9 cents, in line with estimate/Revenues $20.6 million, also in line; reiterated revenue growth guidance of at least 40 percent and gross margins guidance of over 80 percent)

DexCom, Inc. (NASDAQ: DXCM) – rallied 20.49 percent to $11.15 reported a non-GAAP loss of 10 cents per share, narrower than the consensus loss estimate of 18 cents per share; revenues rose 42 percent to $242.5 million; raised its full-year revenue guidance but lowered gross margin guidance) Separately, the company announced the retirement of its Chairman Kevin Sayer)

DURECT Corporation (NASDAQ: DRRX) – rose 3.33 percent to $1.55 (reported a narrower-than-expected Q2 loss)

EXACT Sciences Corporation (NASDAQ: EXAS) – plunged 20.59 percent to $46.95 (reported a Q2 loss of 30 cents per share, narrower than the 32 cents loss estimated by analyst; Revenues jumped 78 percent to $102.9 million and Cologuard test volume rose 59 percent. The company reiterated its 2018 revenue guidance, which is below the consensus estimate.)

Clovis Oncology Inc (NASDAQ: CLVS) – slipped 3.3 percent to $44.48 (reported a wider-than-expected loss for its Q2)

Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) – rose 6.51 percent to $21.995 (reversed to a profit in Q2, belying expectations for a loss)

On The Radar

Earnings

  • Obalon Therapeutics Inc (NASDAQ: OBLN) Q2 EPS $(0.57) Misses $(0.51) Estimate, Sales $2.732M Miss $3.26M Estimate
  • Insmed Incorporated (NASDAQ: INSM) Q2 EPS $(1) Beats $(1.08) Estimate
  • Seres Therapeutics Inc (NASDAQ: MCRB) Q2 EPS $(0.68) Misses $(0.63) Estimate, Sales $4.6M Miss $6.57M Estimate
  • Curis, Inc. (NASDAQ: CRIS) Q2 EPS $(0.26) Beats $(0.39) Estimate, Sales $2.36M Beat $2.34M Estimate
  • Acorda Therapeutics Inc (NASDAQ: ACOR) Q2 EPS $1.40 Beats $0.72 Estimate, Sales $153.302M Beat $138.31M Estimate
  • Agios Pharmaceuticals Inc (NASDAQ: AGIO) Q2 EPS $(1.19) Beats $(1.55) Estimate, Sales $40.414M Beat $11.28M Estimate
  • Becton Dickinson and Co (NYSE: BDX) Q3 EPS $2.91 Beats $2.86 Estimate, Sales $4.278B Beat $4.24B Estimate
  • Repligen Corporation (NASDAQ: RGEN) (before the market open)
  • Epizyme Inc (NASDAQ: EPZM) Q2 EPS $(0.42) Beats $(0.51) Estimate
  • Zoetis Inc (NYSE: ZTS) Q2 EPS $0.77 Beats $0.70 Estimate, Sales $1.415B Beat $1.38B Estimate
  • Pacira Pharmaceuticals Inc (NASDAQ: PCRX) Q2 EPS $0.24 Beats $0.07 Estimate, Sales $84.1M Beat $78.86M Estimate
  • Regeneron Pharmaceuticals Inc (NASDAQ: REGN) (before the market open)
  • Genomic Health, Inc. (NASDAQ: GHDX) (after the close)
  • Acceleron Pharma Inc (NASDAQ: XLRN) (after the close)
  • AcelRx Pharmaceuticals Inc (NASDAQ: ACRX) (after the close)
  • Arbutus Biopharma Corp (NASDAQ: ABUS) (after the close)
  • Emergent Biosolutions Inc (NYSE: EBS) (after the close)
  • T2 Biosystems Inc (NASDAQ: TTOO) (after the close)
  • BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) (after the close)
  • Pacific Biosciences of California (NASDAQ: PACB) (after the close)
  • Nevro Corp (NYSE: NVRO) (after the close)
  • Cerus Corporation (NASDAQ: CERS) (after the close)
  • TESARO Inc (NASDAQ: TSRO) (after the close)
  • Revance Therapeutics Inc (NASDAQ: RVNC) (after the close)
  • ResMed Inc. (NYSE: RMD)
  • Insulet Corporation (NASDAQ: PODD) (after the close)
  • Glaukos Corp (NYSE: GKOS) (after the close)

Posted-In: Biotech Earnings News Offerings Top Stories Trading Ideas Best of Benzinga

 

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