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

Down In The Dumps

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

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

Stocks In Focus

Zafgen's Chief Scientific Officer Quits

Zafgen Inc (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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. (NASDAQ: 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.)