Here's a roundup of top developments in the biotech space over the last 24 hours.
None of the NYSE/Nasdaq-listed biotech stocks hit 52-week highs on Oct. 1.
Down In The Dumps
(Biotech stocks hitting 52-week lows on Oct. 1)
- 10X Genomics Inc TXG
- ABIOMED, Inc. ABMD
- Adamas Pharmaceuticals Inc ADMS
- Adamis Pharmaceuticals Corp ADMP
- Adaptive Biotechnologies Corp ADPT
- Aduro BioTech Inc ADRO
- Akcea Therapeutics Inc AKCA
- Albireo Pharma Inc ALBO
- Alkermes Plc ALKS
- AnaptysBio Inc ANAB(reported Phase 2 readout for drug to treat generalized pustular psoriasis)
- Artelo Biosciences Inc ARTL
- Assembly Biosciences Inc ASMB
- Assertio Therapeutics Inc ASRT
- AxoGen, Inc Common Stock AXGN
- BioMarin Pharmaceutical Inc. BMRN
- bluebird bio Inc . BLUE(Stifel initiated the shares at a Hold)
- Catalyst Biosciences Inc CBIO
- Concert Pharmaceuticals Inc CNCE
- Corbus Pharmaceuticals Holdings Inc CRBP
- Corvus Pharmaceuticals Inc CRVS
- Dermira Inc DERM
- Eloxx Pharmaceuticals Inc ELOX
- Five Prime Therapeutics Inc FPRX
- Gemphire Therapeutics Inc GEMP
- Genprex Inc GNPX
- Gossamer Bio Inc GOSS
- Inovio Pharmaceuticals Inc INO
- Inflarx NV IFRX
- Intra-Cellular Therapies Inc ITCI
- Karuna Therapeutics Inc KRTX
- KemPharm Inc KMPH
- Miragen Therapeutics Inc MGEN
- Myovant Sciences Ltd MYOV
- Neuronetics Inc STIM
- NewLink Genetics Corp NLNK(announced a merger agreement with Lumos)
- Obseva SA OBSV
- Oncolytics Biotech, Inc. ONCY
- PDL BioPharma Inc PDLI
- PDS Biotechnology Corp PDSB( announced decision to no longer start a Phase 2 study of PDS0101 monotherapy in CIN2/3)
- Precision BioSciences Inc DTIL
- Qiagen NV QGEN
- Retrophin Inc RTRX
- Rexahn Pharmaceuticals, Inc. REXN
- Surface Oncology Inc SURF
- Titan Medical Inc. TMDI
- Trinity Biotech plc TRIB
- Taro Pharmaceutical Industries Ltd. TARO
- Unum Therapeutics Inc UMRX
- TrovaGene Inc TROV(reacted to ESMO 2019 presentation)
- Urogen Pharma Ltd URGN
- Xenetic Biosciences Inc XBIO
- X T L Biopharmaceuticals Ltd XTLB
Stocks In Focus
Teligent Explores Strategic Alternatives For Non-Core Assets
Specialty generic pharma company Teligent Inc TLGT has initiated a process to explore a broad range of strategic alternatives of assets non-core to its long-term strategy. The company said the decision was in response to inbound interest and evolving market conditions based in the U.S. and Canada.
In the eventuality of the materialization of one or more of the strategic alternatives, the company intends to use the proceeds to improve liquidity, optimize the capital structure, and fund efforts to unlock the full potential of its newly constructed sterile-injectable manufacturing facility in Buena, New Jersey.
The stock rallied 6.03% to $1 in after-hours trading.
J&J To Ohio Opioid Litigation For $20.4M
Johnson & Johnson JNJ announced a settlement agreement with the Ohio counties of Cuyahoga and Summit that would resolve all of the claims of these counties with no admission of liability. This removes the company from the federal trial set to begin Oct. 21.
The company has agreed to pay a combined $10 million payment to the counties, reimburse $5 million in legal fees and direct $5.4 million to nonprofits for opioid-related programs in these communities.
Novartis's Cosentyx Aces Late-Stage Study In Sondyloarthritis
Novartis AG NVS announced additional positive data from the PREVENT trial that's evaluating the safety and efficacy of Cosentyx in patients with non-radiographic spondyloarthritis, or nx-axSpA. The late-stage met the primary endpoint of ASAS40 at Week 52, showing significant and clinically meaningful reduction in disease activity for patients treated with Cosentyx versus placebo.
"The trial demonstrated a sustained response and a safety profile consistent with previous clinical trials," the company said.
Aimmune Reportedly Receives Positive Results For Allergists' Survey On Peanut Allerget Drug
Aimmune Therapeutics Inc AIMT's peanut allergy drug, which recently cleared the FDA hurdle, is likely to see strong sales, as allergists showed increasing awareness and willingness to prescribe Palforzi, the Seeking Alpha reported, citing Piper Jaffray's proprietary survey.
The stock rallied 9.62% to $22.44 in after-hours trading.
On The Radar
Clinical Trial Readouts
Savara Inc SVRA is due to present already-released Phase 3 data for molgradex in autoimmune pulmonary alveolar proteinosis at the European Respiratory Society 2020 International Congress being held in Madrid, Spain.
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