Market Overview

The Daily Biotech Pulse: Obseva Sinks On Adverse Clinical Readout, BioNano Surges On Saphyr Adoption, 2 IPOs

Share:
The Daily Biotech Pulse: Obseva Sinks On Adverse Clinical Readout, BioNano Surges On Saphyr Adoption, 2 IPOs

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 Nov. 6)

  • Agile Therapeutics Inc (NASDAQ: AGRX)(follow-on rally following positive Adcom verdict for Twirla)
  • Constellation Pharmaceuticals Inc (NASDAQ: CNST)(announced positive results from a Phase 2 trial of CPI-0610 in combination with Jakafi in myelofibrosis)
  • Exagen Inc (NASDAQ: XGN)
  • Invest in IPO shares before the stock hits the market with ClickIPO. Check it out here

  • INNATE PHARMA S/S ADR (NASDAQ: IPHA)
  • Momenta Pharmaceuticals, Inc. (NASDAQ: MNTA)
  • Repro-Med Systems, Inc. (NASDAQ: KRMD)
  • TFF Pharmaceuticals Inc (NASDAQ: TFFP)
  • Viela Bio Inc (NASDAQ: VIE) (IPOed Oct. 3)
  • ZEALAND PHARMA/S ADR (NASDAQ: ZEAL)

Down In The Dumps

(Biotech stocks hitting 52-week lows on Nov. 6)

  • AcelRx Pharmaceuticals Inc (NASDAQ: ACRX)
  • Achieve Life Sciences Inc (NASDAQ: ACHV)
  • AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO)
  • Biocept Inc (NASDAQ: BIOC)
  • bluebird bio Inc (NASDAQ: BLUE)
  • Cocrystal Pharma Inc (NASDAQ: COCP)
  • Corbus Pharmaceuticals Holdings Inc (NASDAQ: CRBP)
  • Cyclerion Therapeutics Inc (NASDAQ: CYCN)
  • Diffusion Pharmaceuticals Inc (NASDAQ: DFFN)
  • Exelixis, Inc. (NASDAQ: EXEL)
  • Helius Medical Technologies Inc (NASDAQ: HSDT)
  • Homology Medicines Inc (NASDAQ: FIXX)
  • Iterum Therapeutics PLC (NASDAQ: ITRM)
  • Midatech Pharma PLC-ADR (NASDAQ: MTP)
  • Morphic Holding Inc (NASDAQ: MORF)
  • Neuronetics Inc (NASDAQ: STIM)
  • Oyster Point Pharma Inc (NASDAQ: OYST) (IPOed on Oct. 31)
  • Rockwell Medical Inc (NASDAQ: RMTI)
  • Salarius Pharmaceuticals Inc (NASDAQ: SLRX)
  • Supernus Pharmaceuticals Inc (NASDAQ: SUPN)( announced a negative clinical readout for ADHD drug and disappointing third-quarter results)
  • Ultragenyx Pharmaceutical Inc (NASDAQ: RARE)(reported wider-than-expected loss for the third quarter)
  • Unum Therapeutics Inc (NASDAQ: UMRX)

Stocks In Focus

Obseva's Drug To Boost Pregnancy Following Invitro Fertilization Fails In Late-Stage Study

Obseva SA (NASDAQ: OBSV) said the results from the Phase 2 European confirmatory study of nolasiban in women undergoing embryo transfer following in-vitro fertilization did not meet the primary endpoint of an increase in ongoing pregnancy rate at 10 weeks.

Nosiblan is an oral oxycontin receptor antagonist licensed from Germany's MERCK KGAA/S ADR (OTC: MKKGY). The company has decided to discontinue the current development of nolasiban for IVF and will explore potential repositioning of the product.

The company also reported third-quarter results showing a wider loss for the quarter.

Shares were declining 25.75% to $5.97 in pre-market trading.

InflaRx Reports Positive Results From Open-Label Extension Phase 2 Study Of Drug To Treat Skin Inflammation

Inflarx NV (NASDAQ: IFRX) reported positive results for the open label extension part of the international Phase 2b study dubbed SHINE that is evaluating the safety and efficacy of IFX-1, an anti-human complement factor C5a monoclonal antibody, in patients with moderate to severe hidradenitis suppurativa, or HS. HS is a painful and debilitating chronic inflammatory skin disease with limited treatment options.

The shares are jumping 44.40% to $3.74 in pre-market trading.

Bionano's Saphyr System To Be Used By Novogene For Genome Imaging

BioNano Genomics Inc (NASDAQ: BNGO) said Novogene has adopted the Saphyr system for genome imaging and incorporated it into the latter's genomic analysis technology services.

BioNano's Saphyr system automates the imaging of extremely long, high-molecular-weight DNA in its native state in proprietary NanoChannel arrays on the Saphyr Chip.

The stock jumped 54.62% to $1.39 in after-hours trading.

See Also: Analysts Remain Upbeat On GW Pharma's Optionality With Epidiolex

Coherus Acquires U.S. Rights To Lucentis Biosimilar

Coherus Biosciences Inc (NASDAQ: CHRS) has acquired exclusive rights from Bioeq to commercialize the latter's Lucentis biosimilar in the U.S. Bioeq said it plans to file a BLA with the FDA for the biosimilar in the fourth quarter and launch the product in 2021.

Coherus will pay a mid-single digit million-dollar upfront payment as well as other regulatory and launch milestone payments, while both companies will share profits equally.

Lucentis is Roche Holdings AG Basel ADR's (OTC: RHHBY) Genentech unit's drug to treat wet age-related macular degeneration.

Separately, Coherus reported better-than-expected third-quarter results.

The stock gained 2.37% to $16.85 in after-hours trading.

Offerings

Evolus Inc (NASDAQ: EOLS) said it has priced its secondary offering of 5.217 million shares at $13 per share. The company expects to get net proceeds of $63.5 million from the offering. The offering is expected to close Nov. 12.

The stock fell 5.36% to $13.25 in after-hours trading.

Sierra Oncology Inc (NASDAQ: SRRA) said it intends to offer shares of Series A convertible preferred stock together with Series A warrants and Series B warrants, each to purchase shares of common stock, in an underwritten public offering. All the shares are to be offered by the company.

The company said it intends to use the net proceeds primarily to fund its Phase 3 trial of momelotinib.

The stock plunged 20.57% to 28 cents in after-hours trading.

Agios Pharmaceuticals Inc (NASDAQ: AGIO) said it's planning a 7.5-million follow-on offering, with all shares earmarked for the offering to be sold by the company.

The stock declined 5.27% to $32 in after-hours trading.

Earnings

Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) reported third-quarter net product sales of $59.5 million compared to $49.1 million in the year-ago period. The earnings per share jumped to $1.84 from 13 cents, notably ahead of the 7-cent per share consensus estimate.

The stock jumped 19.86% to $15.75 in after-hours trading.

DexCom, Inc.'s (NASDAQ: DXCM) third-quarter revenues jumped 49% to $396.3 million. The company raised its full-year revenue as well margin guidance. The non-GAAP EPS jumped from 18 cents to 65 cents. Analysts had estimated EPS of 20 cents.

The stock rose 19.51% to $183 in after-hours trading.

TherapeuticsMD Inc (NASDAQ: TXMD) said third-quarter net revenues climbed from $3.47 million in 2018 to $23.72 million in 2019. The loss per share narrowed from 16 cents to 13 cents. Analysts had estimated a wider loss of 19 cents per share.The company reaffirmed its 2019 guidance.

The stock gained 10.69% to $2.90 in after-hours trading.

Aerie Pharmaceuticals Inc (NASDAQ: AERI) reported a narrowed adjusted net loss per share for the third quarter. The company reduced its full-year net revenue guidance.

The stock declined 18.98% to $19.30 in after-hours trading.

Puma Biotechnology Inc's (NASDAQ: PBYI) third quarter revenues fell about 10% to $56.4 million and its net loss per share widened from 37 cents to 44 cents. Analysts had estimated a loss of 71 cents per share for the quarter.

The stock slipped 17.95% to $5.85 in after-hours trading.

Bellicum Pharmaceuticals Inc (NASDAQ: BLCM) reported a decline in its third-quarter grant revenues from $292,000 in 2018 to $103,000 in 2019. The net loss per share widened to 68 cents to 55 cents. Analysts had estimated a loss of 53 cents per share for the quarter.

The stock moved down 10.16% to $1.15 in after-hours trading.

Nektar Therapeutics' (NASDAQ: NKTR) third-quarter revenues climbed about 5% to $29.22 million and the loss per share remained unchanged at 56 cents, narrower than the consensus estimate for a loss of 73 cents.

The stock added 5.52% to $19.10 in after-hours trading.

OpGen Inc's (NASDAQ: OPGN) third-quarter revenues rose 17.4% to $648,000 and the loss per share narrowed from $10.67 to $3.95.

The stock slipped 11.36% to $1.17 in after-hours trading.

On The Radar

Earnings

 

 

Clovis Oncology Inc (NASDAQ: CLVS) (before the market open)
Athenex Inc (NASDAQ: ATNX) (before the market open)
Aldeyra Therapeutics Inc (NASDAQ: ALDX) (before the market open)
Atara Biotherapeutics Inc (NASDAQ: ATRA) (before the market open)
Autolus Therapeutics Ltd – ADR (NASDAQ: AUTL) (before the market open)
Aileron Therapeutics Inc (NASDAQ: ALRN) (before the market open)
Pacira Biosciences Inc (NASDAQ: PCRX) (before the market open)
Protalix Biotherapeutics Inc (NYSE: PLX) (before the market open)
Meridian Bioscience, Inc. (NASDAQ: VIVO) (before the market open)
Strongbridge Biopharma plc (NASDAQ: SBBP) (before the market open)
Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) (before the market open)
Kala Pharmaceuticals Inc (NASDAQ: KALA) (before the market open)
Zoetis Inc (NYSE: ZTS) (before the market open)
Jounce Therapeutics Inc (NASDAQ: JNCE) (before the market open)
X4 Pharmaceuticals Inc (NASDAQ: XFOR) (before the market open)
Corbus Pharmaceuticals Holdings Inc (NASDAQ: CRBP) (before the market open)
Eyepoint Pharmaceuticals Inc (NASDAQ: EYPT) (before the market open)
GlycoMimetics Inc (NASDAQ: GLYC) (before the market open)
Catabasis Pharmaceuticals Inc (NASDAQ: CATB) (before the market open)
Concert Pharmaceuticals Inc (NASDAQ: CNCE) (before the market open)
Axsome Therapeutics Inc (NASDAQ: AXSM) (before the market open)
Viveve Medical Inc (NASDAQ: VIVE) (after the market close)
Sarepta Therapeutics Inc (NASDAQ: SRPT) (after the market close)
Pfenex Inc (NYSE: PFNX) (after the market close)
10X Genomics Inc (NASDAQ: TXG) (after the market close)
Audentes Therapeutics Inc (NASDAQ: BOLD) (after the market close)
Adverum Biotechnologies Inc (NASDAQ: ADVM) (after the market close)
Adamas Pharmaceuticals Inc (NASDAQ: ADMS) (after the market close)
Aclaris Therapeutics Inc (NASDAQ: ACRS) (after the market close)
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) (after the market close)
Amphastar Pharmaceuticals Inc (NASDAQ: AMPH) (after the market close)
Pulse Biosciences Inc (NASDAQ: PLSE) (after the market close)
Navidea Biopharmaceuticals Inc (NYSE: NAVB) (after the market close)
Viveve Medical Inc (NASDAQ: VIVE) (after the market close)
ZIOPHARM Oncology Inc. (NASDAQ: ZIOP) (after the market close)
Shockwave Medical Inc (NASDAQ: SWAV) (after the market close)
Penumbra Inc (NYSE: PEN) (after the market close)
Syndax Pharmaceuticals Inc (NASDAQ: SNDX) (after the market close)
Sarepta Therapeutics Inc (NASDAQ: SRPT) (after the market close)
NovaBay Pharmaceuticals, Inc. (NYSE: NBY) (after the market close)
Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) (after the market close)
Novavax, Inc. (NASDAQ: NVAX) (after the market close)
Zogenix, Inc. (NASDAQ: ZGNX) (after the market close)
Oncternal Therapeutics Inc (NASDAQ: ONCT) (after the market close)
Savara Inc (NASDAQ: SVRA) (after the market close)
Miragen Therapeutics Inc (NASDAQ: MGEN) (after the market close)
Pfenex Inc (NYSE: PFNX) (after the market close)
Dicerna Pharmaceuticals Inc (NASDAQ: DRNA) (after the market close)
Guardant Health Inc (NASDAQ: GH) (after the market close)
Flexion Therapeutics Inc (NASDAQ: FLXN) (after the market close)
Corcept Therapeutics Incorporated (NASDAQ: CORT) (after the market close)
Capricor Therapeutics Inc (NASDAQ: CAPR) (after the market close)
CytomX Therapeutics Inc (NASDAQ: CTMX) (after the market close)
Orthopediatrics Corp (NASDAQ: KIDS) (after the market close)

IPO

Galera Therapeutics priced its 5-million share IPO at $12, below the estimated price range of $14-$16. The company's shares are to be listed on the Nasdaq under the ticker symbol "GRTX."

Gene testing company Centogene priced its IPO of 4 million shares at $14, the lower bound of the estimated price range of $14-$16. The shares are to be listed on the Nasdaq under the ticker symbol "CNTG."

Posted-In: Biotech Earnings News Offerings Contracts FDA IPOs Top Stories Best of Benzinga

 

Related Articles (ACRS + ACHV)

View Comments and Join the Discussion!

Bionano Genomics Wins Contract, Stock Up 50%

This Day In Market History: The 2000 Presidential Election