Market Overview

The Daily Biotech Pulse: Ampio Slides On Offering, Sangamo's Positive Trial Results, Insys Earnings

The Daily Biotech Pulse: Ampio Slides On Offering, Sangamo's Positive Trial Results, Insys Earnings
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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. 8)

  • AstraZeneca plc (ADR) (NYSE: AZN)
  • Bio-Rad Laboratories, Inc. (NYSE: BIO)(reported forecasting-beating results for Q2)
  • Endo International PLC (NASDAQ: ENDP)(reacted to a beat-and-raise quarter)
  • Inspire Medical Systems Inc (NYSE: INSP)(reported a narrower-than-expected Q2 loss and forecast 50-54 percent revenue growth for FY18)
  • Horizon Pharma PLC (NASDAQ: HZNP)(reacted to quarterly results)
  • Inogen Inc (NASDAQ: INGN)(reported above-consensus EPS for Q2 and raised its FY18 guidance)
  • Medtronic PLC (NYSE: MDT)
  • OptimizeRx Corporation (NASDAQ: OPRX)(reacted to Q2 results)
  • Pfizer Inc. (NYSE: PFE)
  • SurModics, Inc. (NASDAQ: SRDX)

Zoetis Inc (NYSE: ZTS)

Down In The Dumps

(Biotech Stocks Hitting 52-week lows on Aug. 8)

  • Aileron Therapeutics Inc (NASDAQ: ALRN)(reported a wider-than-expected Q2 loss)
  • Cesca Therapeutics Inc (NASDAQ: KOOL)
  • Citius Pharmaceuticals Inc (NASDAQ: CTXR)
  • Clovis Oncology Inc (NASDAQ: CLVS)
  • CTI BioPharma Corp (NASDAQ: CTIC)
  • Cytori Therapeutics Inc (NASDAQ: CYTX)
  • Enzo Biochem, Inc. (NYSE: ENZ)
  • Flex Pharma Inc (NASDAQ: FLKS)
  • OHR Pharmaceutical Inc (NASDAQ: OHRP)
  • Pain Therapeutics, Inc. (NASDAQ: PTIE)
  • Provention Bio Inc (NASDAQ: PRVB)
  • Pulmatrix Inc (NASDAQ: PULM)
  • Reshape Lifesciences Inc (NASDAQ: RSLS)
  • Sonoma Pharmaceuticals Inc (NASDAQ: SNOA)
  • Synlogic Inc (NASDAQ: SYBX)
  • Titan Medical Inc. (NASDAQ: TMDI)(announced pricing of offering)

Stocks In Focus

Ampio, Regenxbio Slip On News of Common Stock Offering

Ampio Pharmaceuticals Inc (NYSE: AMPE) announced its intention to offer shares and accompanying warrants to purchase shares of common stock in an underwritten public offering. The stock plunged 26.08 percent to $0.45 in after-hours trading.

Regenxbio Inc (NASDAQ: RGNX) said it intends to offer $175 million worth of its common stock in an underwritten public offering. The stock declined 3.68 percent to $68 in after-hours session.

Sangamo Blood Disorder Drug Trial Produces Positive Results

Sangamo Therapeutics Inc (NASDAQ: SGMO) announced positive preliminary data from the Phase 1/2 trial that evaluates its SB-525, a cDNA gene therapy candidate for Hemophilia A. The candidate has been developed under a collaboration between Sangamo and Pfizer Inc. (NYSE: PFE).

"In the Alta study, SB-525 has been generally well tolerated to date with no treatment-related serious adverse events and no use of tapering courses of oral steroids," Sangamo said.

Separately, the company reported a wider-than-expected loss for its Q2.

The stock rose 3.57 percent to $14.345 in after-hours trading.

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

Stocks Reacting To Earnings

Teligent Inc (NASDAQ: TLGT) said Q2 revenues fell 9 percent year-over-year to $16.8 million. The loss per share also came in wider than expectations. The stock slumped 11.84 percent to $3.50 in after-hours trading.

Insys Therapeutics Inc (NASDAQ: INSY) reported a decline in revenues from $42.6 million in Q2'17 to $23.5 million in Q2, dragged by lower gross revenue and returns of expired product. The loss per share widened from 11 cents to 37 cents. The stock fell 6.01 percent to $7.35 in after-hours trading.

Akebia Therapeutics Inc (NASDAQ: AKBA) said its Q2 loss per share widened from 53 cents to 60 cents, while analysts estimated a narrower loss of 51 cents per share. Collaboration revenues rose from $28.52 million to $48.79 million. The stock plunged 12.55 percent to $8.50 in after-hours trading.

Rigel Pharmaceuticals, Inc (NASDAQ: RIGL) reported a Q2 loss of 16 cents per share, flat with last year and also in line with estimates. The company reported revenues of $1.79 million. The stock rallied 7.81 percent to $2.90 in after-hours trading.

TRACON Pharmaceuticals Inc (NASDAQ: TCON) reported a wider loss of 33 cents per share for Q2, while analysts estimated a loss of 31 cents per share. The stock rallied 19.59 percent to $2.90 in after-hours trading.

On The Radar


Before the Market Open

  • Aldeyra Therapeutics Inc (NASDAQ: ALDX) Q2 EPS $(0.46) Misses $(0.43) Estimate
  • Loxo Oncology Inc (NASDAQ: LOXO) Q2 Adj. EPS $(1.68) Misses $(0.54) Estimate, Sales $42.601M Beat $28.91M Estimate
  • Amneal Pharmaceuticals Inc (NYSE: AMRX) Q2 EPS $0.24 Beats $0.22 Estimate, Sales $413.787M Miss $460.81M Estimate
  • Catabasis Pharmaceuticals Inc (NASDAQ: CATB) Q2 EPS $(0.20) Beats $(0.23) Estimate
  • Jounce Therapeutics Inc (NASDAQ: JNCE) Q2 EPS $(0.14) Beats $(0.37) Estimate, Sales $19.378M Beat $12.91M Estimate
  • Pieris Pharmaceuticals Inc (NASDAQ: PIRS) Q2 Sales $11.691M Miss $12.71M Estimate, EPS $0.00 vs $(0.01) Est.
  • BioLife Solutions Inc (NASDAQ: BLFS) Q2 EPS $0.05 Beats $0.04 Estimate, Sales $5.178M Beat $5.15M Estimate
  • Fibrocell Science Inc (NASDAQ: FCSC) Q2 EPS $(1.03) Misses $(0.42) Estimate
  • Portola Pharmaceuticals Inc (NASDAQ: PTLA) Q2 EPS $(1.61) Misses $(1.49) Estimate, Sales $4.011M Miss $6.35M Estimate

After the Market Close

  • BioDelivery Sciences International, Inc. (NASDAQ: BDSI)
  • Puma Biotechnology Inc (NASDAQ: PBYI)
  • Kindred Biosciences Inc (NASDAQ: KIN)
  • CareDx Inc (NASDAQ: CDNA)
  • Interpace Diagnostics Group Inc (NASDAQ: IDXG)
  • Dova Pharmaceuticals Inc (NASDAQ: DOVA)
  • Endologix, Inc. (NASDAQ: ELGX)
  • Pernix Therapeutics Holdings Inc (NASDAQ: PTX)
  • Organovo Holdings Inc (NASDAQ: ONVO)
  • ICU Medical, Incorporated (NASDAQ: ICUI)
  • Caladrius Biosciences Inc (NASDAQ: CLBS)
  • CymaBay Therapeutics Inc (NASDAQ: CBAY)
  • Zosano Pharma Corp (NASDAQ: ZSAN)
  • KemPharm Inc (NASDAQ: KMPH)
  • Taro Pharmaceutical Industries Ltd. (NYSE: TARO)
  • Viking Therapeutics Inc (NASDAQ: VKTX)

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


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