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The Daily Biotech Pulse: Alzheimer's Conference Underway, Biogen's Aducanumab Briefing Doc, Supernus Earnings

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The Daily Biotech Pulse: Alzheimer's Conference Underway, Biogen's Aducanumab Briefing Doc, Supernus Earnings

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 Nov. 3)

  • Bio-Rad Laboratories, Inc. (NYSE: BIO)
  • Biohaven Pharmaceutical Holding Co Ltd (NYSE: BHVN)
  • BioLife Solutions Inc (NASDAQ: BLFS)
  • BioLineRx ADR Representing 15 Ord Shs (NASDAQ: BLRX)(reacted to positive readout for its stem cell therapy to treat cancer)
  • Halozyme Therapeutics, Inc. (NASDAQ: HALO)(reacted to its quarterly results)
  • Idera Pharmaceuticals Inc (NASDAQ: IDRA)
  • Inspire Medical Systems Inc (NYSE: INSP) ( reported strong results for the third quarter)
  • Immunovant Inc (NASDAQ: IMVT)
  • Scholar Rock Holding Corp (NASDAQ: SRRK)
  • Ultragenyx Pharmaceutical Inc (NASDAQ: RARE)
  • United Therapeutics Corporation (NASDAQ: UTHR)

Down In The Dumps

(Biotech Stocks Hitting 52-week Lows Nov. 3)

  • Abeona Therapeutics Inc (NASDAQ: ABEO)
  • Aprea Therapeutics Inc (NASDAQ: APRE)
  • Bellicum Pharmaceuticals Inc (NASDAQ: BLCM)
  • Benitec Biopharma Inc (NASDAQ: BNTC)
  • Esperion Therapeutics Inc (NASDAQ: ESPR) (reacted to its quarterly results)
  • Happiness Biotech Group Ltd (NASDAQ: HAPP)
  • Jaguar Health Inc (NASDAQ: JAGX)
  • Liminal BioSciences Inc (NASDAQ: LMNL)
  • Nabriva Therapeutics PLC – ADR (NASDAQ: NBRV)
  • Neovasc Inc (NASDAQ: NVCN)
  • Opthea Spon (NASDAQ: OPT)
  • Silence Therapeutics ADR (NASDAQ: SLN)
  • Titan Pharmaceuticals, Inc (NASDAQ: TTNP)

Stocks In Focus

Bristol-Myers Squibb Says Antitrust Waiting Period For Proposed Myokardia Acquisition Expires

Bristol-Myers Squibb Co (NYSE: BMY) said the waiting period under the HSR Act in connection with its previously announced tender offer to acquire all outstanding shares of Myokardia Inc (NASDAQ: MYOK) expired.

This satisfies one of the conditions necessary for the consummation of the transaction, and the consummation is now contingent on the tender of a majority of the outstanding shares of MyoKardia's common stock, as well as other customary closing conditions.

The tender is scheduled to expire by Nov. 16 at 11:59 pm.

Soleno Presents Positive Body Composition Data From a Late-stage Prader-Willi Syndrome Study

Soleno Therapeutics Inc (NASDAQ: SLNO) announced presentation of positive body composition data from its Phase 3 trial, evaluating once-daily diazoxide choline controlled-release tablets for patients with Prader-Willi Syndrome at the Obesity Society's ObesityWeek 2020 meeting.

The results showed significant reductions in fat mass after 13 weeks of double-blind treatment, a significant reduction in leptin and an increase in adiponectin, a cardioprotective hormone.

"The data presented to date show that DCCR has the potential to manage both behavioral and co-morbid metabolic components of PWS," said Parisa Salehi, a clinician at Seattle Children's Hospital.

Earnings

Supernus Pharmaceuticals Inc (NASDAQ: SUPN) reported third-quarter revenues of $155.14 million, higher than $102.14 million last year. The earnings per share climbed from 54 cents to 74 cents, notably higher than the 30-cent per share consensus estimate. The company raised its guidance for full-year 2020.

The stock rallied 20.88% to $21.94 in after-hours trading.

Five Prime Therapeutics Inc's (NASDAQ: FPRX) third-quarter revenues fell from $2.984 million to $2.048 million. The loss per share, though narrowing from $1.03 to 74 cents, was wider than the consensus loss estimate of 60 cents per share.

The stock was down 10.79% to $4.30 in after-hours trading.

On The Radar

Clinical Readouts

vTv Therapeutics Inc (NASDAQ: VTVT) will make an oral presentation at the CTAD, providing a general study update and data on the baseline characteristics of patients enrolled in the ongoing phase 2 Elevage Study of azeliragon as a potential treatment for mild-probable Alzheimer's disease in adult patients who also have type 2 diabetes.

Earnings

Haemonetics Corporation (NYSE: HAE) (before the market open)
Aquestive Therapeutics Inc (NASDAQ: AQST) (after the close)
Anika Therapeutics Inc (NASDAQ: ANIK) (after the close)
Axonics Modulation Technologies Inc (NASDAQ: AXNX) (after the close)
ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) (after the close)
T2 Biosystems Inc (NASDAQ: TTOO) (after the close)
OraSure Technologies, Inc. (NASDAQ: OSUR) (after the close)
Hologic, Inc. (NASDAQ: HOLX) (after the close)
Otonomy Inc (NASDAQ: OTIC) (after the close)
SurModics, Inc. (NASDAQ: SRDX) (after the close)
Sangamo Therapeutics Inc (NASDAQ: SGMO) (after the close)
PRA Health Sciences Inc (NASDAQ: PRAH) (after the close)
Cytosorbents Corp (NASDAQ: CTSO) (after the close)
Lineage Cell Therapeutics Inc (NYSE: LCTX) (after the close)
Insulet Corporation (NASDAQ: PODD) (after the close)
Cytokinetics, Inc. (NASDAQ: CYTK) (after the close)
MannKind Corporation (NASDAQ: MNKD) (after the close)
Flexion Therapeutics Inc (NASDAQ: FLXN) (after the close)
DiaMedica Therapeutics Inc (NASDAQ: DMAC) (after the close)
Orthopediatrics Corp (NASDAQ: KIDS))
Ionis Pharmaceuticals Inc (NASDAQ: IONS)
G1 Therapeutics Inc (NASDAQ: GTHX)
Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI)

Other Events

The FDA is due to release the briefing document related to Biogen Inc's (NASDAQ: BIIB) BLA for aducanumab for the treatment of Alzheimer's disease.

 

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