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The Daily Biotech Pulse: Therapix To Reverse Merge With CBD Company, Crispr Gene Editing Therapy Readout

The Daily Biotech Pulse: Therapix To Reverse Merge With CBD Company, Crispr Gene Editing Therapy Readout

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. 18)

  • 10X Genomics Inc (NASDAQ: TXG)(IPOed Sept. 12)
  • 89bio Inc (NASDAQ: ETNB) (IPOed Nov. 11)
  • Antares Pharma Inc (NASDAQ: ATRS)
  • Arvinas Inc (NASDAQ: ARVN)
  • Bio-Rad Laboratories, Inc. Class A Common Stock (NYSE: BIO)
  • Cabaletta Bio Inc (NASDAQ: CABA)
  • Crispr Therapeutics AG (NASDAQ: CRSP)
  • DexCom, Inc. (NASDAQ: DXCM
  • Dicerna Pharmaceuticals Inc (NASDAQ: DRNA) )(announced a partnership with Novo Nordisk A/S (NYSE: NVO) for developing RNAi therapies)
  • Frequency Therapeutics Inc (NASDAQ: FREQ)(reacted to its third-quarter results)
  • IGM Biosciences Inc (NASDAQ: IGMS)
  • Insulet Corporation (NASDAQ: PODD)
  • Karuna Therapeutics Inc (NASDAQ: KRTX)( announced positive results for its mid-stage schizophrenia drug)
  • Karyopharm Therapeutics Inc (NASDAQ: KPTI)
  • Kodiak Sciences Inc (NASDAQ: KOD)
  • Krystal Biotech Inc (NASDAQ: KRYS)
  • The Medicines Company (NASDAQ: MDCO)(announced full results of its ORION-9 Phase 3 study of inclisiran at the American Heart Association 2019 annual meeting)
  • Medtronic PLC (NYSE: MDT)
  • Neurocrine Biosciences, Inc. (NASDAQ: NBIX)
  • Qiagen NV (NYSE: QGEN)(moved on reports of talks for potential sale)
  • Seattle Genetics, Inc. (NASDAQ: SGEN)
  • Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX)
  • XBiotech Inc (NASDAQ: XBIT)
  • Zimmer Biomet Holdings Inc (NYSE: ZBH)

Down In The Dumps

(Biotech stocks hitting 52-week lows on Nov. 18)

  • Aethlon Medical, Inc. (NASDAQ: AEMD)
  • Biocept Inc (NASDAQ: BIOC)
  • Brickell Biotech Inc (NASDAQ: BBI)
  • Cancer Genetics Inc (NASDAQ: CGIX)
  • China SXT Pharmaceuticals Inc (NASDAQ: SXTC)
  • Cleveland BioLabs, Inc. (NASDAQ: CBLI)
  • Cumberland Pharmaceuticals, Inc. (NASDAQ: CPIX)
  • Cyclerion Therapeutics Inc (NASDAQ: CYCN)
  • CytomX Therapeutics Inc (NASDAQ: CTMX)
  • Diffusion Pharmaceuticals Inc (NASDAQ: DFFN)
  • Five Prime Therapeutics Inc (NASDAQ: FPRX)
  • Guardion Health Sciences Inc (NASDAQ: GHSI)
  • Helius Medical Technologies Inc (NASDAQ: HSDT)
  • Interpace Biosciences Inc (NASDAQ: IDXG)
  • Invivo Therapeutics Holdings Corp (NASDAQ: NVIV)(announced a common stock offering)
  • Kezar Life Sciences Inc (NASDAQ: KZR)
  • Marker Therapeutics (NASDAQ: MRKR)
  • Neon Therapeutics Inc (NASDAQ: NTGN)
  • Neuronetics Inc (NASDAQ: STIM)
  • Novavax, Inc. (NASDAQ: NVAX)
  • Ocugen Inc (NASDAQ: OCGN)
  • Phio Pharmaceuticals Corp (NASDAQ: PHIO)(priced its common stock offering)
  • Pluristem Therapeutics Inc. (NASDAQ: PSTI)
  • Ritter Pharmaceuticals Inc (NASDAQ: RTTR)
  • Salarius Pharmaceuticals Inc (NASDAQ: SLRX)
  • Sellas Life Sciences Group Inc (NASDAQ: SLS)
  • Seneca Biopharma Inc (NASDAQ: SNCA)
  • Sensus Healthcare Inc (NASDAQ: SRTS)
  • Sierra Oncology Inc (NASDAQ: SRRA)
  • Synlogic Inc (NASDAQ: SYBX)
  • Syros Pharmaceuticals Inc (NASDAQ: SYRS)
  • TELA Bio Inc (NASDAQ: TELA) (IPOed on Nov. 8)
  • Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP)
  • Ultragenyx Pharmaceutical Inc (NASDAQ: RARE)
  • Unum Therapeutics Inc (NASDAQ: UMRX)
  • Verastem Inc (NASDAQ: VSTM)
  • Vir Biotechnology Inc (NASDAQ: VIR)
  • Viveve Medical Inc (NASDAQ: VIVE)
  • Xenetic Biosciences Inc (NASDAQ: XBIO)

See Also: Analyst: Peak Sales Potential Of Amarin's Vascepa Underappreciated

Stocks In Focus

Therapix Pursues Reverse Merger With CBD Wellness Company Heavenly Rx

Therapix Biosciences Ltd(NASDAQ: TRPX) announced the signing of a memorandum of understanding with consumer hemp CBD company Heavenly Rx Ltd to pursue a reverse merger with the latter. The transaction between the two companies is subject to the striking of a definitive agreement and securing of shareholder and other regulatory approvals.

Under the agreement signed, Therapix will issue up to 20% of its outstanding ADSs to buy from certain shareholders, an interest in Heavenly Rx. The share exchange is likely to close within 30 days and represents the first step toward the proposed combination.
The announcement follows an early November decision by Therapix to end merger talks with Canadian cannabis company Destiny Biosciences.

Shares of Therapix rallied 29.25% to $1.90 in after-hours trading.

Antares Enters Agreement With Idorsia For Drug-device Combo to Treat Heart Attack

Antares announced an agreement with Idorsia Pharma for developing a drug-device product combining Idorsia's selatogrel with the Antares subcutaneous QuickShot auto injector.

Selatogrel is Idorsia's mid-stage asset being developed for the treatment of a suspected acute myocardial infarction in adult patients with a history. Idorsia will assume responsibility for pay for the development and also apply for and obtain regulatory approvals for the combination product.

Crispr, Vertex Announce Positive Results For Mid-Stage Gene Editing Therapy

Crispr Therapeutics AG (NASDAQ: CRSP) and Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) announced positive interim data from the first two patients with severe hemoglobinopathies treated with investigational CRISPR/Cas9 gene editing therapy CTX001 in an ongoing Phase 1/2 trial.

"The data we announced today are remarkable and demonstrate that CTX001 has the potential to be a curative CRISPR/Cas9-based gene-editing therapy for people with sickle cell disease and beta thalassemia," said CEO Jeffrey Leiden.

In pre-market trading, Crispr shares were slipping 2.63% to $56.99.


Karuna Therapeutics said it has commenced an underwritten public offering of 2.6 million shares of its common stock. All the shares earmarked for the offering are being offered by the company.

The stock slipped 6.47% to $89.79 in after-hours trading.


Ascendis Pharma A/S (NASDAQ: ASND) reported a loss of 53 euro cents per share for the third quarter compared to a loss of 81 euro cents per share in the year-ago period. Revenues climbed from 20,000 euros to 2.2 million euros.

The stock rose 5.52% to $112.88 in after-hours trading.

On The Radar

Clinical Trial Readouts

Pieris Pharmaceuticals Inc (NASDAQ: PIRS) is scheduled to present at its R&D event, Phase 1 dose escalation data for PRS-343 in combination with Roche's (OTC: RHHBY) Tecentriq in HER2-positive solid tumor.

Myovant Sciences Ltd (NYSE: MYOV) will present Phase 3 data for relugolix in advanced prostate cancer.

Heat Biologics Inc (NASDAQ: HTBX) is due to present Phase 2 data for HS-110 and Bristol-Myers Squibb Co's (NYSE: BMY) Opdivo in non-small cell lung cancer.


Affimed NV (NASDAQ: AFMD) (before the market open)
Medtronic (before the market open)


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