Kindred Biosciences, Inc. KIN, Aprea Therapeutics, Inc. APRE, Catabasis Pharmaceuticals, Inc. CATB and Inhibikase Therapeutics, Inc. IKT are among the biggest biopharma movers on Wednesday.
Kindred Flies On Buyout: Kindred announced an agreement to be bought by Elanco Animal Health Incorporated ELAN for $9.25 per share, or approximately $440 million. The per-share value represents a premium of roughly 46% to Kindred's closing price Tuesday.
Kindred Biosciences is a biopharma developing innovative biologics focused on saving and improving the lives of pets.
Kindred shares were jumping 44.87% to $9.19 and Elanco was up 2.53% to $35.69.
Aprea Soars On Positive Phase 1/2 Data For Combo Therapy Study In AML With Specific Mutation: Aprea said a Phase 1/2 trial evaluating eprenetapopt with AbbVie, Inc.'s ABBV venetoclax and Bristol-Myers Squibb Company's BMY azacitidine in patients with TP53 mutant acute myeloid leukemia has met the pre-specified primary efficacy endpoint of complete remission rate.
In 30 evaluable patients, the CR rate was 37% and the composite response rate of CR plus CR with incomplete hematologic recovery was 53%, the company said.
"We are pleased with these results from the combination of eprenetapopt with venetoclax and azacitidine in this very difficult-to-treat TP53 mutant AML population, a patient group with significant unmet medical need," said Eyal Attar, chief medical officer of Aprea.
Boston, Massachusetts-based Aprea is a biopharma developing novel cancer therapeutics that reactivate mutant tumor suppressor protein, p53.
Aprea shares were advancing 37.73% to $6.68.
Catabasis Moves On Disclosure Institutional Stake: Catabasis disclosed in a filing that healthcare-focused hedge fund RA Capital Management, L.P. owns 5.75 million shares in the company, giving it a 7.5% stake.
Catabasis' lead program, QLS-215 is a monoclonal antibody inhibitor of plasma kallikrein in preclinical development for the treatment of Hereditary Angioedema.
The shares were rallying 14.95% to $2.3450.
Inhibikase Wilts On Pricing Common Stock Offering at Discount: Inhibikase priced an underwritten public offering of 15 million shares of its common stock at a public offering price of $3 per share for total gross proceeds of approximately $45 million.
The pricing is at a 25.6% discount from the $4.03 at which the shares closed Tuesday's session.
Inhibikase is a clinical-stage pharma company developing therapeutics for Parkinson's disease and related disorders.
Shares were sliding 24.66% to $3.04.
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