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The Daily Biotech Pulse: Endologix's Q3 Sales, Obseva's Positive Trial Results, Kala To Offer Shares

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The Daily Biotech Pulse: Endologix's Q3 Sales, Obseva's Positive Trial Results, Kala To Offer Shares
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Here's a roundup of top developments in the biotech space over the last 24 hours.

Scaling the Peaks

(Biotech stocks hitting 52-week highs on Oct. 1)

  • Boston Scientific Corporation (NYSE: BSX)
  • Eli Lilly And Co (NYSE: LLY)
  • Masimo Corporation (NASDAQ: MASI)
  • Merck & Co., Inc. (NYSE: MRK)
  • Merit Medical Systems, Inc. (NASDAQ: MMSI)
  • Trevena Inc (NASDAQ: TRVN)
  • Urovant Sciences Ltd. (Nasdaq: UROV)

Down In The Dumps

(Biotech stocks hitting 52-week lows on Oct. 1)

  • Arvinas Inc (NASDAQ: ARVN)
  • Avrobio Inc (NASDAQ: AVRO)
  • Genprex Inc (NASDAQ: GNPX)
  • Gritstone Oncology, Inc. (NASDAQ: GRTS)
  • GTx, Inc. (NASDAQ: GTXI)
  • Kala Pharmaceuticals Inc (NASDAQ: KALA)
  • La Jolla Pharmaceutical Company (NASDAQ: LJPC)
  • Magenta Therapeutics Inc (NASDAQ: MGTA)
  • OptiNose Inc (NASDAQ: OPTN)
  • REALM THERAPEUTICS ADR (NASDAQ: RLM)
  • Sonoma Pharmaceuticals Inc (NASDAQ: SNOA)
  • Titan Pharmaceuticals, Inc. (NASDAQ: TTNP)
  • Vital Therapies Inc (NASDAQ: VTL)

See Also: Attention Biotech Investors: Mark Your Calendar For These October PDUFA Dates

Stocks In Focus

Endologix Expects Q3 Revenues Above Consensus; Raises Low-End Of FY18 Revenue Guidance

Endologix, Inc. (NASDAQ: ELGX) announced preliminary third-quarter results, expecting revenues in the range of $34.3 million to $34.7 million, ahead of the $31.13 million consensus estimate. Citing the current business trends, the company raised the low-end of its 2018 revenue guidance to $150 million from $145 million, while maintaining the high-end at $155 million.

The stock soared 37.21 percent to $2.36 in after-hours trading.

Novartis Out-Licenses 3 Anti-Infectives

Novartis AG (NYSE: NVS) said it licensed three novel anti-infective drug candidates to Boston Pharma. These pipeline assets have the potential to treat antibiotic-resistant Gram-negative infections.

Obseva Reports Additional Positive Data For Nolasiban

Obseva SA (NASDAQ: OBSV) released additional positive Phase 3 data from the IMPLANT 2 trial of its oral, oxytocin receptor antagonist Nolasiban in patients undergoing IVF procedures. The data showed that the candidate significantly increased live birth rate following IVF treatment.

An additional Phase 3 trial is set to begin prior to the end of 2018 and is expected to generate primary endpoint, 10-week ongoing pregnancy data, in about 12 months, allowing for a planned MAA submission in Europe by the end of 2019.

Offerings

Epizyme Inc (NASDAQ: EPZM) priced its underwritten public offering of 8.33 million shares of its common stock at $9 per share, a discount to Tuesday's closing price of $9.71. All the shares are to be sold by the company. The company expects gross proceeds of $75 million from the offering.

The stock shed 7.31 percent to $9 in after-hours trading.

GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH) priced its previously announced offering of 1.90 million ADSs, representing 22.8 million ordinary shares, at a price of $158 per ADS. The company expects to raise gross proceeds of about $300 million from the offering.

Kala Pharma said it commenced an underwritten public offering of 7.50 million shares. Separately, the company said it closed its $110 million credit facility with funds managed by Athyrium Capital Management.

The stock fell 9.48 percent to $8.40 in after-hours trading.

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

 

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