The Daily Biotech Pulse: Mesoblast To Test Candidate On Coronavirus Symptoms, Proxy Battle Ahead For Rockwell Medical, Glaukos to Join S&P SmallCap 600 Index

Loading...
Loading...

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 March 9.)

  • Arcutis Biotherapeutics Inc ARQT
  • Enzo Biochem, Inc. ENZ
  • Centogene NV CNTG
  • Inovio Pharmaceuticals Inc INO
  • Spherix Inc SPEX (added to Friday's advance on clinching an option agreement for coronavirus treatment)

Down In The Dumps

(Biotech stocks that hit 52-week lows March 9.)

  • ABIOMED, Inc. ABMD
  • Acasti Pharma Inc ACST
  • Achieve Life Sciences Inc ACHV
  • Acorda Therapeutics Inc ACOR
  • Adamas Pharmaceuticals Inc ADMS
  • Adaptive Biotechnologies Corp ADPT
  • ADMA Biologics Inc ADMA
  • Aeglea Bio Therapeutics Inc AGLE
  • Aerie Pharmaceuticals Inc AERI
  • AEterna Zentaris Inc. AEZS
  • Affimed NV AFMD
  • Akers Biosciences Inc AKER
  • Akorn, Inc. AKRX
  • Aldeyra Therapeutics Inc ALDX
  • Alexion Pharmaceuticals, Inc. ALXN
  • Allena Pharmaceuticals Inc ALNA
  • Amarin Corporation plc AMRN
  • Amphastar Pharmaceuticals Inc AMPH
  • ANCHIANO THERAP/S ADR ANCN
  • AngioDynamics, Inc. ANGO
  • ANI Pharmaceuticals Inc Common Stock ANIP
  • Anixa Biosciences Inc ANIX
  • Aptevo Therapeutics Inc APVO
  • Aptinyx Inc APTX
  • Arena Pharmaceuticals, Inc. ARNA
  • Artelo Biosciences Inc ARTL
  • Atossa Therapeutics Inc ATOS
  • Auris Medical Holding Ltd EARS
  • Autolus Therapeutics Ltd – ADR AUTL
  • AVEO Pharmaceuticals, Inc. AVEO
  • Aytu Bioscience Inc AYTU
  • Bausch Health Companies Inc BHC
  • Bellicum Pharmaceuticals Inc BLCM
  • BENITEC BIOPHAR/S ADR BNTC
  • Bio-Path Holdings Inc BPTH
  • BioCardia Inc BCDA
  • BioLife Solutions Inc BLFS
  • BioSig Technologies Inc BSGM
  • bluebird bio Inc BLUE
  • Boston Scientific Corporation BSX
  • Elanco Animal Health Inc ELAN
  • Glaukos Corp GKOS
  • Black Diamond Therapeutics Inc BDTX
  • Capricor Therapeutics Inc CAPR
  • Celcuity Inc CELC
  • CELYAD SA/ADR CYAD
  • Cerecor Inc CERC
  • Chembio Diagnostics Inc CEMI
  • Corbus Pharmaceuticals Holdings Inc CRBP
  • Eagle Pharmaceuticals Inc EGRX
  • Edesa Biotech Inc EDSA
  • Eiger Biopharmaceuticals Inc EIGR
  • Ekso Bionics Holdings Inc EKSO
  • Endologix, Inc. ELGX
  • Enlivex Therapeutics Ltd ENLV
  • Enochian Biosciences Inc ENOB
  • Eton Pharmaceuticals Inc ETON
  • Evogene Ltd EVGN
  • Evolus Inc EOLS
  • EXACT Sciences Corporation EXAS
  • Eyepoint Pharmaceuticals Inc EYPT
  • Geron Corporation GERN
  • Glaukos Corp GKOS
  • Gossamer Bio Inc GOSS
  • Heron Therapeutics Inc HRTX
  • HTG Molecular Diagnostics Inc HTGM
  • Idera Pharmaceuticals Inc IDRA
  • ImmuCell Corporation ICCC
  • Incyte Corporation INCY
  • Invivo Therapeutics Holdings Corp NVIV
  • Ionis Pharmaceuticals Inc IONS
  • Iradimed Corp IRMD
  • Jaguar Health Inc JAGX
  • Jazz Pharmaceuticals PLC JAZZ
  • KemPharm Inc KMPH
  • KITOV PHARMA LT/S ADR KTOV
  • Kura Oncology Inc KURA
  • Lantheus Holdings Inc LNTH
  • MacroGenics Inc MGNX
  • Medigus ADR MDGS
  • Mediwound Ltd MDWD
  • Midatech Pharma PLC-ADR MTP
  • Misonix Inc MSON
  • Moleculin Biotech Inc MBRX
  • Myriad Genetics, Inc. MYGN
  • Mylan NV MYL
  • Neovasc Inc NVCN
  • Neurometrix Inc NURO
  • Neuronetics Inc STIM
  • Obalon Therapeutics Inc OBLN
  • Oncternal Therapeutics Inc ONCT
  • Organogenesis Holdings Inc ORGO
  • Orthofix Medical Inc OFIX
  • Oxford Immunotec Global PLC OXFD
  • Passage Bio Inc PASG
  • PDS Biotechnology Corp PDSB
  • Pieris Pharmaceuticals Inc PIRS
  • Pluristem Therapeutics Inc. PSTI
  • Plus Therapeutics Inc PSTV
  • Polarityte Inc PTE
  • Portola Pharmaceuticals Inc PTLA
  • PPD Inc PPD
  • Precigen Inc PGEN
  • Predictive Oncology Inc POAI
  • Radius Health Inc RDUS
  • Rhythm Pharmaceuticals Inc RYTM
  • SAGE Therapeutics Inc SAGE
  • Spero Therapeutics Inc SPRO
  • Stemline Therapeutics Inc STML
  • STRATA Skin Sciences Inc SSKN
  • Supernus Pharmaceuticals, Inc. SUPN
  • SurModics, Inc. SRDX
  • Synlogic Inc SYBX
  • Tcr2 Therapeutics Inc TCRR
  • Teligent Inc (NEW JERSEY) TLGT
  • Tenax Therapeutics Inc TENX
  • TFF Pharmaceuticals Inc TFFP
  • TherapeuticsMD Inc TXMD
  • Titan Medical Inc. TMDI
  • TRACON Pharmaceuticals Inc TCON
  • Translate Bio Inc TBIO
  • Unity Biotechnology Inc UBX
  • Unum Therapeutics Inc UMRX
  • Vanda Pharmaceuticals Inc. VNDA
  • Vericel Corp VCEL
  • Viking Therapeutics Inc VKTX
  • VIVUS, Inc. VVUS
  • Voyager Therapeutics Inc VYGR
  • Xenetic Biosciences Inc XBIO
  • Xeris Pharmaceuticals Inc XERS
  • X T L Biopharmaceuticals Ltd XTLB
  • Zynerba Pharmaceuticals Inc ZYNE
  • Zimmer Biomet Holdings Inc ZBH
  • See also: Attention Biotech Investors: Mark Your Calendar For These March PDUFA Dates

    Stocks In Focus

    Mesoblast Plans To Evaluate Stem Cell Therapy Candidate For Coronavirus Respiratory Distress 

    Mesoblast limited MESO said it plans to evaluate its allogenic mesenchymal stem cell product candidate remestemcel-L in patients with acute respiratory distress syndrome caused by COVID-19 in the U.S., Australia, China and Europe.

    The company said it is in active discussions with various government and regulatory authorities, medical institutions and pharma companies.

    In premarket trading Tuesday, the shares were surging 28.35% to $7.90.

    Emergent Biosolutions To Provide Manufacturing Support For Novavax's COVID-19 Program

    Emergent Biosolutions Inc EBS said it has entered into an agreement with Novavax, Inc. NVAX, under which the former will use its molecule-to-market contract development and manufacturing service to support bringing into the latter's vaccine candidate to protect against COVID-19 into the clinic. 

    Emergent will produce the COVID-19 experimental vaccine candidate developed using Novavax's proprietary recombinant protein nanoparticle technology platform. Emergent said it has initiated work and anticipates commencement of a Phase 1 study within the next four months.

    Separately, Novavax said the Coalition for Epidemic Preparedness awarded it an initial funding of $4 million to support its COVID-19 vaccine program.

    In premarket trading Tuesday, Emergent shares were adding 0.95% to $53.02 and Novavax shares were surging up 24.35% to $12.46.

    Genmab Appoints Anthony Mancini As Chief Operating Officer

    GENMAB A/S/S ADR GMAB announced the appointment of Anthony Mancini as EVP and COO effective March 23. Mancini's role calls for him to oversee the company's commercial, corporate development, business development and information technology functions.

    Glaukos Set To Join S&P SmallCap 600 Index

    Ophthalmic medtech and pharma company Glaukos is set to join the S&P SmallCap 600 Index, effective prior to the open of trading March 13, replacing AK Steel Holding Corporation AKS, which has agreed to be acquired by Cleveland-Cliffs Inc CLF.

    Glaukos shares were trading 7.5% higher at $38.49 in the premarket session. 

    MediciNova Plans Clinical Study Of Ibudilast In Pneumonia, Acute Respiratory Distress Syndrome

    MediciNova, Inc. MNOV said it plans to initiate the development of MN-166 for severe pneumonia and acute respiratory distress syndrome following positive results in a recent preclinical study in an animal model. The animal study showed treatment with the investigational candidate reversed histological changes, including inflammation, hemorrhage, alveolar congestion and alveolar edema.

    Rockwell Medical Faces Pressure From Activist Investor

    Medical Resources Acquisition said on Feb. 25 it offered Rockwell Medical Inc RMTI $15 million in equity investment for three board seats currently held by John Cooper, Mark Ravich and Lisa Colleran.

    The investment firm said Rockwell's board has failed to provide appropriate governance, resulting in reckless spending, a cash deficiency and a lack of operational controls that have impacted stock performance.

    Rockwell acknowledged receiving an email from Medical Resources Acquisition in a press release.

    "The Board of Directors is in the process of reviewing the materials submitted by MRAG. Stockholders do not need to take any action at this time," the company said. 

    The stock was trading 9.37% higher at $3.50 in Tuesday's premarket session. 

    Acceleron Discontinues Midstage Neurological Disorder Drug Study

    Acceleron Pharma Inc XLRN said treatment with ACE-083 in patients with Charcot-Marie-Tooth disease did not demonstrate functional improvement in a Phase 2 trial.

    The company said it is discontinuing the development of ACE-083.

    Earnings

    Organogenesis Holdings Inc's ORGO fourth-quarter revenues climbed 17% to $74.6 million. The net loss per share narrowed from 12 cents to 4 cents. For 2020, the company guided to revenues of $273 million to $277 million. The results as well as the guidance were above consensus.

    The stock jumped 14.56% to $3.54 in after-hours trading.

    Aduro BioTech Inc ADRO said its fourth-quarter revenues increased from $2.8 million in 2018 to $3.6 million in 2019. The loss per share narrowed from 33 cents to 24 cents, while analysts expected a narrower loss of 21 cents per share.

    The stock slipped 4.89% to $2.92 in after-hours trading.

    Assertio Therapeutics Inc ASRT reported fourth-quarter revenues of $59.23 million and a loss of $2.65 per share. In the year-ago quarter, the company reported revenues of $42.6 million and a loss of 38 cents per share. On a non-GAAP basis, the company reported a loss of 14 cents per share for the recent quarter compared to expectations for a profit of 14 cents per share.

    The stock fell 11.21% to 95 cents in after-hours trading.

    On The Radar

    PDUFA Dates

    The FDA is set to rule on Bristol-Myers Squibb Co's BMY sBLA for Opdivo + Yervoy as treatment option for patients with advanced hepatocellular carcinoma who were previously treated with Bayer AG BAYRY and Onyx Pharma's Nexavar.

    Earnings

    • Precision BioSciences Inc DTIL (before the market open)
    • Akebia Therapeutics Inc AKBA (before the market open)
    • Catabasis Pharmaceuticals Inc CATB (before the market open)
    • InspireMD Inc NSPR (before the market open)
    • ChemoCentryx Inc CCXI (after the close)
    • CV Sciences Inc CVSI (after the close)
    • Fulgent Genetics Inc FLGT (after the close)
    • Sunesis Pharmaceuticals, Inc. SNSS (after the close)
    • RA Medical Systems Inc RMED (after the close)
    • Protagonist Therapeutics Inc PTGX (after the close)
    • Castle Biosciences Inc CSTL (after the close)
    • Constellation Pharmaceuticals Inc CNST (after the close)

    Related Link: The Week Ahead In Biotech (March 8-14): Bristol-Myers Awaits FDA Nod For Liver Cancer Combo Therapy, Earnings Flow Continues

Loading...
Loading...
Date
▲▼
ticker
▲▼
name
▲▼
Actual EPS
▲▼
EPS Surprise
▲▼
Actual Rev
▲▼
Rev Surprise
▲▼
Posted In: BiotechEarningsNewsGuidanceContractsFDATrading IdeasCoronavirusCovid-19
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...