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

Down In The Dumps

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

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

Offerings

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.

Earnings

Ascendis Pharma A/S 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 PIRS is scheduled to present at its R&D event, Phase 1 dose escalation data for PRS-343 in combination with Roche's RHHBY Tecentriq in HER2-positive solid tumor.

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

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

Earnings

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