The Daily Biotech Pulse: Zafgen Executive Departs; Adamas, Acceleron Accelerate On 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 Aug. 2)

• Akcea Therapeutics Inc AKCA
• Arbutus Biopharma Corp ABUS
• AtriCure Inc. ATRC
• Cytosorbents Corp CTSO
• Eli Lilly And Co LLY
• Glaukos Corp GKOS
• Illumina, Inc. ILMN
• LivaNova PLC LIVN
• Masimo Corporation MASI
• Replimune Group Inc REPL
• Tandem Diabetes Care Inc TNDM
• Vanda Pharmaceuticals Inc. VNDA
• Zoetis Inc ZTS

Down In The Dumps

(Stocks hitting 52-week lows on Aug. 2)

• Aerpio Pharmaceuticals Inc ARPO
• Avenue Therapeutics Inc ATXI
• Bioblast Pharma Ltd ORPN
• Catabasis Pharmaceuticals Inc CATB
• CELLECT BIOTECH/S ADR APOP
• Clovis Oncology Inc CLVS
• Constellation Pharmaceuticals Inc CNST
• Cue Biopharma Inc CUE
• Epizyme Inc EPZM
• Flex Pharma Inc FLKS
• Fortress Biotech FBIO
• IntelliPharmaCeutics Intl Inc (USA) IPCI
• Midatech Pharma PLC-ADR MTP
• Radius Health Inc RDUS
• Vascular Biogenics Ltd VBLT
• Verrica Pharmaceuticals Inc VRCA

Stocks In Focus

Zafgen's Chief Scientific Officer Quits

Zafgen Inc ZFGN said its President and chief scientific officer Thomas Hughes has resigned from the role to take up the CEO position at a privately-held biotech company.

The stock fell 5.69 percent to $9.78 in after-hours trading.

Stocks Reacting to Earnings

TESARO Inc TSRO – plunged 12.45 percent to $31 (reported a loss of $3.04 per share and revenues of $53.89 million, missing the consensus estimates for a loss of $2.65 per share and revenues of $63.34 million)

Acceleron Pharma Inc XLRN – rallied 9.96 percent to $48.02 (reported a Q2 loss of 63 cents, narrower than the 64 cents per share last year)

Adamas Pharmaceuticals Inc ADMS – jumped 13.32 percent to $28.25 (reported a loss of $1.26 compared to the loss of $1.41 per share estimated by analyst; revenues of $7.57 million also trumped the consensus estimate of $4.86 million.

T2 Biosystems Inc TTOO – climbed 9.93 percent to $6.20 (reported Q2 revenues of $3.9 million and an in-line loss of 32 cents per share; The company reiterated its expectations for the full year.)

Pacific Biosciences of California PACB – slumped 9.02 percent to $3.53 (reported below-consensus revenues for Q2 and an in-line loss)

CytoSorbents – rallied 8.14 percent to $13.95 (reported Q2 revenues of $5.8 million, up 61 percent year-over-year and exceeding the consensus estimate; loss was 19 cents per share compared to the year-ago loss of 6 cents per share.)

Tetraphase Pharmaceuticals Inc TTPH – rose 2.47 percent to $2.90 (reported a narrower loss of 18 cents per share compared to the consensus expectations for a loss of 37 cents per share; Revenues climbed to $11.6 million, also coming in ahead of the $2.19 million consensus estimate.)

Aratana Therapeutics Inc PETX – rose 3.79 percent to $4.66 (reported a loss of 14 cents per share on revenues of $4.9 million for Q2; Analysts, on average, estimated a loss of 19 cents per share on revenues of $5.06 million.)

Genomic Health, Inc. GHDX – gained 2.19 percent to $55.50 (reported Q2 EPS of 23 cents, sharply higher than the 6 cents per share estimated by analysts; revenues of $95.6 million also beat the $92.11 million consensus estimate.)