The Daily Biotech Pulse: EyePoint In-Licenses Eye Disorder Drug, BioMarin CFO Quits, Rockwell Medical To Offer Shares

Here's a roundup of top developments in the biotech space over the last 24 hours:

Scaling The Peaks

(Biotech stocks that hit 52-week highs Feb. 3.)

• Acceleron Pharma Inc XLRN
• Aptose Biosciences Inc APTO
• Catalent Inc CTLT (announced a deal to buy cell and gene therapy CDMO MasTherCell and forecast-beating second quarter results)
• ChemoCentryx Inc CCXI
• Clearside Biomedical Inc CLSD
• Fate Therapeutics Inc FATE
• ITAMAR MED LTD/S ADR ITMR
• Molecular Templates Inc MTEM
• Orgenesis Inc ORGS (announced sale of subsidiary MasTherCell to Catalent)
• Profound Medical Corp PROF
• Reata Pharmaceuticals Inc RETA
• Repligen Corporation RGEN
• Theravance Biopharma Inc TBPH

Down In The Dumps

(Biotech stocks that hit 52-week lows Feb. 3.)

• Alkermes Plc ALKS
• Allogene Therapeutics Inc ALLO
• Avanos Medical Inc AVNS
• BioLife Solutions Inc BLFS
• Blueprint Medicines Corp BPMC
• CASI Pharmaceuticals Inc CASI (moved along with China pharmaceutical stocks due to coronavirus)
• Endologix, Inc. ELGX
• Galectin Therapeutics Inc. GALT
• I-Mab IMAB (went public in mid-January)
• Intec Pharma Ltd NTEC
• TapImmune Inc. MRKR
• Omeros Corporation OMER
• REDHILL BIOPHAR/S ADR RDHL
• Salarius Pharmaceuticals Inc SLRX
• X4 Pharmaceuticals Inc XFOR

See also: The Week Ahead In Biotech: Merck, Bristol-Myers Earnings, Conference Presentations In Focus

Stocks In Focus

Eyepoint In-Licenses Eye Disorder Drug From Equinox

Eyepoint Pharmaceuticals Inc EYPT announced the signing of an exclusive license agreement with Equinox Science for developing vorolanib, a tyrosine kinase inhibitor for the treatment of wet age-related macular degeneration, diabetic retinopathy and retinal vein occlusion.

Vorolanib is developed using Eyepoint's bioreodible Durasert technology, a miniaturized, injectable, sustained-release intravitreal drug delivery system with a six-month duration. The company expects data from a Phase 1 trial in the second half of 2021.

EyePoint is responsible for the development and commercialization of Vorolanib worldwide, excluding the Greater China region.

EyePoint said it will pay Equinox an upfront payment of $1 million, and also pay developmental and regulatory and post-commercialization royalties.

EyePoint stock was rising 10.99% to $2.12 in Tuesday's premarket session.

BioMarin CFO Steps Down

BioMarin Pharmaceutical Inc. BMRN announced the departure of executive VP and CFO Dan Spiegelman, although he will remain as an employee and senior advisor until Sept. 1, 2020. Brian Mueller, SVP, finance and chief accounting officer, has assumed the role of acting CFO, with the company initiating an internal and external search for a permanent replacement.

The stock added 2.37% to $86 in after-hours trading.

Earnings

Takeda Pharmaceutical Co Ltd TAK reported fiscal year third-quarter revenue of 2.53 trillion yen, up 82.6% year-over-year. Its underlying EPS remained little changed at 359 yen. Citing strong business momentum and faster-than-expected realization of integration synergies, the company raised its full-year guidance.

Offerings

Rockwell Medical Inc RMTI announced an underwritten public offering of its common stock. The company said it expects to use the net proceeds for the commercialization of Dialysate Triferic and I.V. Triferic, R&D and general corporate purposes.

The stock was down 10.07% at $2.50 in the premarket session.

Catalent said it has priced its underwritten public offering of its common shares, with the offering expected to raise gross proceeds of $500 million. The company expects the offering to close on or about Feb. 6.

The stock was down 3.8% at $59.31 in premarket trading Tuesday.

BioNTech said it has filed a Form F-1 registration statement with the SEC to offer 6 million ADSs representing its ordinary shares.

On The Radar

Earnings

• Zimmer Biomet Holdings Inc ZBH (before the market open)
• Haemonetics Corporation HAE (before the market open)
• BIO-TECHNE Corp TECH (before the market open)
• Neurocrine Biosciences, Inc. NBIX (after the close)
• Gilead Sciences, Inc. GILD (after the close)
• Qiagen NV QGEN (after the close)

Related Link: Attention Biotech Investors: Mark Your Calendar For These February PDUFA Dates