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The Daily Biotech Pulse: Jazz Goes Shopping, Portola Offering, Novelion Delays Quarterly Results

The Daily Biotech Pulse: Jazz Goes Shopping, Portola Offering, Novelion Delays Quarterly Results

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 Aug. 12)


Down In The Dumps

(Biotech stocks hitting 52-week lows on Aug. 13)

  • Acer Therapeutics Inc (NASDAQ: ACER)
  • Aclaris Therapeutics Inc (NASDAQ: ACRS)
  • Adaptimmune Therapeutics PLC – ADR (NASDAQ: ADAP)
  • Adial Pharmaceuticals Inc (NASDAQ: ADIL) Advaxis, Inc. (NASDAQ: ADXS)
  • AnaptysBio Inc (NASDAQ: ANAB)
  • Autolus Therapeutics Ltd – ADR (NASDAQ: AUTL)
  • BioMarin Pharmaceutical Inc. (NASDAQ: BMRN)
  • Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC)
  • Fulcrum Therapeutics Inc (NASDAQ: FULC)
  • Gamida Cell Ltd (NASDAQ: GMDA)
  • Hemispherx BioPharma, Inc (NYSE: HEB)
  • Homology Medicines Inc (NASDAQ: FIXX)
  • INmune Bio Inc (NASDAQ: INMB)(reacted to second quarter results)
  • Innovate Biopharmaceuticals Inc (NASDAQ: INNT)
  • Mallinckrodt PLC (NYSE: MNK)(was accused by Humana Inc (NYSE: HUM) of manipulating prices of Achtar)
  • Mersana Therapeutics Inc (NASDAQ: MRSN)
  • Novavax, Inc. (NASDAQ: NVAX)(reported new data from the Phase 3 trial dubbed PREPARE that evaluated its ResVax )
  • Obalon Therapeutics Inc (NASDAQ: OBLN)
  • Pfizer Inc. (NYSE: PFE)
  • Plus Therapeutics Inc (NASDAQ: PSTV)
  • Proteostasis Therapeutics Inc (NASDAQ: PTI)
  • Psychemedics Corp. (NASDAQ: PMD)
  • Sierra Oncology Inc (NASDAQ: SRRA)
  • Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH)
  • Wright Medical Group NV (NASDAQ: WMGI)

Stocks In Focus

Jazz Buys Neurologic Drug Maker Cavion For Upto $312.5M

Jazz Pharmaceuticals PLC (NASDAQ: JAZZ) announced the acquisition of Cavion for $52.5 million in upfront payment and a potential $260 million in regulatory and commercial milestones. Cavion is a clinical-stage biotech creating therapies aimed at modulating the T-type calcium channel for the treatment of chronic and rare neurological diseases.

Cavion's lead candidate CX-8998 is being evaluated in a Phase 2 study in patients with essential tremor.

Portola To Offer $30M Worth of Shares

Portola Pharmaceuticals Inc (NASDAQ: PTLA) announced plans to offer $200 million worth of its common stock in an underwritten public offering. All the shares are to be sold by the company.

The stock shed 3.75% to $29.48 in after-hours trading.

Novelion to Delay Quarterly Filing Due to Time Needed to Deconsolidate Financials Of Bankrupt Subsidiary

Novelion Therapeutics Inc (NASDAQ: NVLN) announced a delay in the filing of its quarterly report on Form 10-Q for the quarter ended June 30 by the filing deadline date of Aug. 14. The company also said it will not be able to file the Interim Disclosure within the subsequent five-day extension permitted by the rules of the SEC.

The company attributed the delay to the significant work involved in deconsolidation of the financials of Aegerion – its subsidiary which filed for Chapter 11 bankruptcy in May – from its financial statements.

Novelion said it plans to delay any earnings release for the quarter ended June 30 until preparation of the Interim Disclosure is completed.

The stock declined 10% to 63 cents in pre-market trading.


OptiNose Inc (NASDAQ: OPTN) reported second-quarter revenues of $6.68 million – all stemming from Xhance sales - up from $1.27 million in the year-ago period. The company's net loss per share widened from 64 cents to 66 cents. The results were ahead of expectations that called for a loss of 74 cents per share on revenues of $6.56 million.

For 2019, the company expects Xhance net revenues of $29 million to $34 million, in line with the $32.3 million.

The stock gained 6.42% to $5.97 in after-hours trading.

On The Radar


  • Biostage Inc (OTC: BSTG) (before the market open)
  • Elanco Animal Health Inc (NYSE: ELAN) (before the market open)
  • Rubius Therapeutics Inc (NASDAQ: RUBY) (before the market open)
  • Brainstorm Cell Therapeutics Inc (NASDAQ: BCLI) (before the market open)
  • Vascular Biogenics Ltd (NASDAQ: VBLT) (before the market open)
  • Matinas BioPharma Holdings Inc (NYSE: MTNB) (before the market open)
  • Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC) (after the close)
  • Cesca Therapeutics Inc (NASDAQ: KOOL) (after the close)
  • Myriad Genetics, Inc. (NASDAQ: MYGN) (after the close)
  • Urovant Sciences Ltd (NASDAQ: UROV) (after the close)
  • PhaseBio Pharmaceuticals Inc (NASDAQ: PHAS)

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