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The Daily Biotech Pulse: Therapix Extends Merger Deadline, Five Prime Restructures, Gilead-Galapagos Rheumatism Drug Readout

The Daily Biotech Pulse: Therapix Extends Merger Deadline, Five Prime Restructures, Gilead-Galapagos Rheumatism Drug Readout

The following is a roundup of top developments in the biotech space over the last 24 hours. 

Scaling The Peaks

(Biotech stocks that hit 52-week highs Oct. 10.)

  • The Medicines Company (NASDAQ: MDCO)
  • Ra Pharmaceuticals Inc (NASDAQ: RARX) (announced a deal to be bought by Belgium's UCB)

Down In The Dumps

(Biotech stocks that hit 52-week lows Oct. 10.)

  • Adamas Pharmaceuticals Inc (NASDAQ: ADMS)
  • Adamis Pharmaceuticals Corp (NASDAQ: ADMP)
  • Aerie Pharmaceuticals Inc (NASDAQ: AERI)
  • Aerpio Pharmaceuticals Inc (NASDAQ: ARPO)
  • Aileron Therapeutics Inc (NASDAQ: ALRN)
  • Alkermes Plc (NASDAQ: ALKS)
  • Atreca Inc (NASDAQ: BCEL)
  • AzurRx BioPharma Inc (NASDAQ: AZRX) (announced CEO departure)
  • BioNano Genomics Inc (NASDAQ: BNGO)
  • BioTelemetry Inc (NASDAQ: BEAT)
  • Cellectis SA (NASDAQ: CLLS)
  • Cerus Corporation (NASDAQ: CERS)
  • Chimerix Inc (NASDAQ: CMRX)
  • Citius Pharmaceuticals Inc (NASDAQ: CTXR)
  • Clovis Oncology Inc (NASDAQ: CLVS)
  • Cocrystal Pharma Inc (NASDAQ: COCP)
  • CymaBay Therapeutics Inc (NASDAQ: CBAY)
  • DelMar Pharmaceuticals Inc (NASDAQ: DMPI)
  • Dermira Inc (NASDAQ: DERM)
  • Diffusion Pharmaceuticals Inc (NASDAQ: DFFN)
  • Enochian Biosciences Inc (NASDAQ: ENOB)
  • Galmed Pharmaceuticals Ltd (NASDAQ: GLMD)
  • Gemphire Therapeutics Inc (NASDAQ: GEMP)
  • Genprex Inc (NASDAQ: GNPX)
  • Gossamer Bio Inc (NASDAQ: GOSS)
  • Helius Medical Technologies Inc (NASDAQ: HSDT)
  • Homology Medicines Inc (NASDAQ: FIXX)
  • Hoth Therapeutics Inc (NASDAQ: HOTH)
  • Jaguar Health Inc (NASDAQ: JAGX) (announced plans to explore options to license Mytesi in China)
  • Meridian Bioscience, Inc. (NASDAQ: VIVO)
  • Novus Therapeutics Inc (NASDAQ: NVUS)
  • Obalon Therapeutics Inc (NASDAQ: OBLN)
  • Onconova Therapeutics Inc (NASDAQ: ONTX)
  • Orgenesis Inc (NASDAQ: ORGS)
  • PAVmed Inc (NASDAQ: PAVM)
  • Precision BioSciences Inc (NASDAQ: DTIL)
  • Predictive Oncology Inc (NASDAQ: POAI)
  • Plus Therapeutics Inc (NASDAQ: PSTV)
  • Puma Biotechnology Inc (NASDAQ: PBYI)
  • Rexahn Pharmaceuticals, Inc. (NASDAQ: REXN)
  • Salarius Pharmaceuticals Inc (NASDAQ: SLRX)
  • Sophiris Bio Inc (NASDAQ: SPHS)
  • Sorrento Therapeutics Inc (NASDAQ: SRNE)
  • Strongbridge Biopharma plc (NASDAQ: SBBP)
  • Supernus Pharmaceuticals Inc (NASDAQ: SUPN)
  • TRACON Pharmaceuticals Inc (NASDAQ: TCON)
  • Trevi Therapeutics Inc (NASDAQ: TRVI)

See also: The Week Ahead In Biotech: Pfenex And Clinuvel On The Radar Ahead of FDA Decisions, 2 IPOs On Deck

Stocks In Focus

Therapix Extends Due Diligence Deadline For Proposed Merger With Destiny

Therapix Biosciences Ltd – ADR (NASDAQ: TRPX) said it is moving to provide additional time for Destiny Biosciences to complete the due diligence process in a proposed merger between the two companies. According to a letter of intent signed in late July, a definitive agreement was to be signed by the third quarter, with provision for an extension until Oct. 31.

The stock rallied 18.18% to $2.16 in premarket trading.

Gilead, Galapagos Report Positive Data For Rheumatoid Arthritis Drug

Gilead Sciences, Inc. (NASDAQ: GILD) and GALAPAGOS NV/S ADR (NASDAQ: GLPG) released Week 52 data from the registrational Phase 3 FINCH 1 and FINCH 3 trials of filgotinib for the treatment of moderately to severely active rheumatoid arthritis, which showed that the results were consistent with and supported efficacy, safety and tolerability profiles demonstrated in the Week 12 and 24 analyses presented earlier this year.

Eli Lily's Psoriasis Drug Taltz Found Superior to J&J's Tremfya

Eli Lilly And Co (NYSE: LLY) presented at the 5th Annual Maui Derm NP+FA Fall meeting with detailed data from the Phase 4 IXORA-R study that compared its Taltz and Johnson & Johnson (NYSE: JNJ)'s Janssen unit's Tremfya using the Psoriasis Area Severity Index (PASI) 100 score as the primary endpoint.

In the study, Taltz met the primary endpoint of superiority versus Tremfya in the proportion of patients with moderate-to-severe plaque psoriasis achieving complete skin clearance as measured by PASI 100 at Week 12, as well as all key secondary endpoints.

Five Prime Announces Restructuring to Extend Cash Runway, 70 Job Cuts 

Five Prime Therapeutics Inc (NASDAQ: FPRX) announced a corporate restructuring intended to extend its cash runway without impacting or delaying data timelines of its clinical programs.

The company has decided to retain a small research group focused on advancing their wholly owned, late-stage assets and rely on outsourcing and contracted capabilities,

Five Prime plans to eliminate 70 jobs across all functions, with 70% of cuts to be enacted by the end of 2019 and the remainder in 2020. The company is also initiating activities to reduce its corporate facilities footprint by either subletting a significant portion of its leased space or subletting the entirety of its building and relocating to smaller facilities.

The company expects annualized cost savings of about $20 million while incurring $3 million in pretax charges for severance and other costs related to the restructuring, primarily in 2019.

On The Radar

Clinical Trial Readouts

Adverum Biotechnologies Inc (NASDAQ: ADVM) will present additional Phase 1 data for ADVM-022 in wet age-related macular degeneration at the American Academy of Ophthalmology, or AAO, 2019 in San Francisco, California.

Regenxbio Inc (NASDAQ: RGNX) is due to present Phase 1/2a data for RGX-314 in wet AMD at the AAO 2019 meeting.

Kodiak Sciences Inc (NASDAQ: KOD) is scheduled to present Phase 1b data for KSI-301 in diabetic macular edema at the Retina Subspecialty Day.


Vir Biotechnology, a biotech developing immunologic therapies for infectious diseases, priced its IPO of 7.14 million shares at $20, the low end of the estimated price range of $20 to $22 per share. The shares are to be listed on the Nasdaq under the ticker symbol "VIR."

Related Link:

Intersect ENT's Study Of Drug-Coated Balloon For Sinus Dilation Misses Primary Endpoint


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