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The Daily Biotech Pulse: Mylan Ramps Up Manufacturing Of Potential COVID-19 Drug, Lexicon Stops Study Early, Masimo To Buy German Ventilation Company

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The Daily Biotech Pulse: Mylan Ramps Up Manufacturing Of Potential COVID-19 Drug, Lexicon Stops Study Early, Masimo To Buy German Ventilation Company

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 19.)

  • Biomerica, Inc. (NASDAQ: BMRA)
  • Centogene NV (NASDAQ: CNTG)
  • Gilead Sciences, Inc. (NASDAQ: GILD)
  • Imara Inc (NASDAQ: IMRA)
  • Regeneron Pharmaceuticals Inc (NASDAQ: REGN)

Down In The Dumps

(Biotech stocks that hit 52-week lows March 19.)

  • Acasti Pharma Inc (NASDAQ: ACST)
  • Accelerate Diagnostics Inc (NASDAQ: AXDX)
  • Acer Therapeutics Inc (NASDAQ: ACER)
  • Aclaris Therapeutics Inc (NASDAQ: ACRS)
  • Aerpio Pharmaceuticals Inc (NASDAQ: ARPO)
  • Aikido Pharma Inc (NASDAQ: AIKI)
  • Alpine Immune Sciences Inc (NASDAQ: ALPN)
  • Amphastar Pharmaceuticals Inc (NASDAQ: AMPH)
  • Anika Therapeutics Inc (NASDAQ: ANIK)
  • Anixa Biosciences Inc (NASDAQ: ANIX)
  • AnPac Bio-Medical Science Co Ltd – ADR (NASDAQ: ANPC)
  • Antares Pharma Inc (NASDAQ: ATRS)
  • Apyx Medical Corp (NASDAQ: APYX)
  • Arca Biopharma Inc (NASDAQ: ABIO)
  • Aridis Pharmaceuticals Inc (NASDAQ: ARDS)
  • aTyr Pharma Inc (NASDAQ: LIFE)
  • AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO)
  • Axonics Modulation Technologies Inc (NASDAQ: AXNX)
  • Bellerophon Therapeutics Inc (NASDAQ: BLPH)
  • BioCardia Inc (NASDAQ: BCDA)
  • Brickell Biotech Inc (NASDAQ: BBI)
  • Cabaletta Bio Inc (NASDAQ: CABA)
  • Caladrius Biosciences Inc (NASDAQ: CLBS)
  • Cara Therapeutics Inc (NASDAQ: CARA)
  • Cancer Genetics Inc (NASDAQ: CGIX)
  • Catalyst Biosciences Inc (NASDAQ: CBIO)
  • Celldex Therapeutics, Inc. (NASDAQ: CLDX)
  • Chiasma Inc (NASDAQ: CHMA)
  • Chimerix Inc (NASDAQ: CMRX)
  • DarioHealth Corp (NASDAQ: DRIO)
  • DelMar Pharmaceuticals Inc (NASDAQ: DMPI)
  • Exicure Inc (NASDAQ: XCUR)
  • Eyenovia Inc (NASDAQ: EYEN)
  • Eyepoint Pharmaceuticals Inc (NASDAQ: EYPT)
  • FibroGen Inc (NASDAQ: FGEN)
  • Galmed Pharmaceuticals Ltd (NASDAQ: GLMD)
  • GlaxoSmithKline plc (NYSE: GSK)
  • Happiness Biotech Group Ltd (NASDAQ: HAPP)
  • Hoth Therapeutics Inc (NASDAQ: HOTH)
  • HTG Molecular Diagnostics Inc (NASDAQ: HTGM)
  • Kura Oncology Inc (NASDAQ: KURA)
  • MEI Pharma Inc (NASDAQ: MEIP)
  • Merrimack Pharmaceuticals Inc (NASDAQ: MACK)
  • Merus NV (NASDAQ: MRUS)
  • Mesoblast limited (NASDAQ: MESO)
  • Miragen Therapeutics Inc (NASDAQ: MGEN)
  • Morphosys Ag (NASDAQ: MOR)
  • Nabriva Therapeutics PLC – ADR (NASDAQ: NBRV)
  • Natus Medical Inc (NASDAQ: NTUS)
  • Neovasc Inc (NASDAQ: NVCN)
  • Novus Therapeutics Inc (NASDAQ: NVUS)
  • Opiant Pharmaceuticals Inc (NASDAQ: OPNT)
  • OptiNose Inc (NASDAQ: OPTN)
  • PLx Pharma Inc (NASDAQ: PLXP)
  • PRA Health Sciences Inc (NASDAQ: PRAH)
  • Precipio Inc (NASDAQ: PRPO)
  • Psychemedics Corp. (NASDAQ: PMD)
  • Quest Diagnostics Inc (NYSE: DGX)
  • Replimune Group Inc (NASDAQ: REPL)
  • resTORbio, Inc. (NASDAQ: TORC)
  • Rexahn Pharmaceuticals, Inc. (NASDAQ: REXN)
  • Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL)
  • Salarius Pharmaceuticals Inc (NASDAQ: SLRX)
  • Silk Road Medical Inc (NASDAQ: SILK)
  • Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI)
  • STRATA Skin Sciences Inc (NASDAQ: SSKN)
  • Sutro Biopharma Inc (NASDAQ: STRO)
  • TELA Bio Inc (NASDAQ: TELA)
  • Titan Medical Inc. (NASDAQ: TMDI)
  • Trinity Biotech plc (NASDAQ: TRIB)
  • TrovaGene Inc (NASDAQ: TROV)
  • Vericel Corp (NASDAQ: VCEL)
  • Xenetic Biosciences Inc (NASDAQ: XBIO)
  • Xeris Pharmaceuticals Inc (NASDAQ: XERS)
  • Y-mAbs Therapeutics, Inc (NASDAQ: YMAB)
  • Zafgen Inc (NASDAQ: ZFGN)

See also: 8 Biotechs With Coronavirus Vaccines In Development

Stocks In Focus

Mylan Ramps Up Production Of Malaria Medication To Potentially Treat COVID-19

Generic drugmaker Mylan NV (NASDAQ: MYL) said it has restarted production of hydrochloroquine sulfate tablets at a West Virginia manufacturing facility to meet the potential for increased demand due to its potential effectiveness in treating COVID-19.

These tablets are approved by the FDA to treat malaria, lupus erythematosus and rheumatoid arthritis.

The product, though not currently approved for use in treating COVID-19, is listed by the WHO as a drug under investigation for efficacy against the coronavirus.

Mylan said it can begin supplying the product by mid-April, and with the active pharmaceutical ingredient it currently has, it can ramp up manufacturing to provide 50 million tablets to potentially treat more than 1.5 million patients.

The stock was trading 16.14% higher to $17.27 in Friday's premarket session.

Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus special edition newsletter.

Lexicon Closes Out 2 Long-Term Zynquista Studies Due To Resource Crunch, COVID-19

Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) said it will close out early two long-term outcome studies of Type 1 diabetes drug Zynquista, dubbed SCORED and SOLOIST, citing the unlikelihood of the materialization of a near-term partnership that was expected to fund the studies and the uncertainties related to the effects of the COVID-19 pandemic on trial results.

These two studies were meant to assess the benefits of the drug and support labeling for heart failure and chronic kidney disease.

Lexicon said it hopes it has has sufficient exposure data and cardiovascular events to satisfy all requirements for Type 2 diabetes. This shift, according to the company, will help conserve financial resources and prioritize its portfolio to advance pipeline drugs such as telotristat ethyl in biliary tract cancer and LX9211 in neuropathic pain.

Masimo Exercises Option To Buy Ventilation Company TNI Medical

Masimo Corporation (NASDAQ: MASI) said it has entered into a definitive agreement to acquire German ventilation company TNI medical AG. In August 2019, Masimo disclosed an investment in TNI that included an exclusive option to buy the company.

"Due to COVID-19, there has been increasing demand for TNI's softFlow technology," Masimo CEO Joe Kiani said in a statement. 

"We believe this technology will provide clinicians with important additional tools to address the growing number of people affected by pulmonary diseases and respiratory-related illnesses, including those suffering from COVID-19."

Earnings

Moleculin Biotech Inc (NASDAQ: MBRX) reported a narrower loss of 32 cents per share in the fourth quarter of 2019. The company said its cash reserves at the end of 2019 and additional funding received subsequent to the end of the year will suffice to meet it operating expenses through the third quarter of 2020.

In premarket trading Friday, Moleculin shares were gaining 13.85% to 74 cents.

Vaxart Inc's (NASDAQ: VXRT) fourth-quarter loss narrowed from 69 cents in 2018 to 13 cents in 2019, in line with the consensus estimate. Revenues rose from $1.77 million to $3.92 million.

The stock was trading 15.1% higher at $2.21 in Friday's premarket session.

Related Link:

The Week Ahead In Biotech: COVID-19 Updates, Tapering Earnings Flow, Eton's Seizure Drug Review

 

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