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

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

Down In The Dumps

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

  • Alkermes Plc (NASDAQ: ALKS)
  • Allogene Therapeutics Inc (NASDAQ: ALLO)
  • Avanos Medical Inc (NYSE: AVNS)
  • BioLife Solutions Inc (NASDAQ: BLFS)
  • Blueprint Medicines Corp (NASDAQ: BPMC)
  • CASI Pharmaceuticals Inc (NASDAQ: CASI) (moved along with China pharmaceutical stocks due to coronavirus)
  • Endologix, Inc. (NASDAQ: ELGX)
  • Galectin Therapeutics Inc. (NASDAQ: GALT)
  • I-Mab (NASDAQ: IMAB) (went public in mid-January)
  • Intec Pharma Ltd (NASDAQ: NTEC)
  • TapImmune Inc. (NASDAQ: MRKR)
  • Omeros Corporation (NASDAQ: OMER)
  • REDHILL BIOPHAR/S ADR (NASDAQ: RDHL)
  • Salarius Pharmaceuticals Inc (NASDAQ: SLRX)
  • X4 Pharmaceuticals Inc (NASDAQ: 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 (NASDAQ: 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. (NASDAQ: 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 (NYSE: 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 (NASDAQ: 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 (NYSE: ZBH) (before the market open)
  • Haemonetics Corporation (NYSE: HAE) (before the market open)
  • BIO-TECHNE Corp (NASDAQ: TECH) (before the market open)
  • Neurocrine Biosciences, Inc. (NASDAQ: NBIX) (after the close)
  • Gilead Sciences, Inc. (NASDAQ: GILD) (after the close)
  • Qiagen NV (NYSE: QGEN) (after the close)

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

 

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