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 July 22)

• Bio-Techne Corporation (NASDAQ:TECH)
• BioNTech SE (NASDAQ:BNTX) (announced a collaboration with Biovac to manufacture COVID-19 shots in South Africa)
• Bristol-Myers Squibb Company (NYSE:BMY)
• Cassava Sciences, Inc. (NASDAQ:SAVA)
• Century Therapeutics, Inc. (NASDAQ:IPSC)
• Cortexyme, Inc. (NASDAQ:CRTX) (announced positive data for pipeline asset in periodontal disease)
• Eli Lilly and Company (NYSE:LLY)
• Erasca, Inc. (NASDAQ:ERAS) (IPOed July 16)
• Horizon Therapeutics Public Limited Company (NASDAQ:HZNP)
• Legend Biotech Corporation (NASDAQ:LEGN)
• NeuroMetrix, Inc. (NASDAQ:NURO) (reacted to its second-quarter results)
• Novo Nordisk A/S (NYSE:NVO)
• PLx Pharma Inc. (NASDAQ:PLXP)
• ResMed Inc. (NYSE:RMD)
• Sight Sciences, Inc. (NASDAQ:SGHT) (IPOed July 15)

Down In The Dumps

(Biotech Stocks Hitting 52-week Lows July 22)

Stocks In Focus

Accorda Strikes Distribution Agreement For Parkinson's Disease Drug In Spain

Under the terms of the supply agreement, Acorda will receive a significant double-digit percent of the selling price of Inbrija in Spain in exchange for supply of the product. Esteve will have exclusive distribution rights in the territory and Acorda will supply the product to Esteve.

Esteve expects to launch Inbrija in Spain in the fourth quarter of 2022.

In premarket trading, the stock was soaring 54.33% to $5.88.

Adverum To Stall Study of Gene Therapy In Diabetic Macular Edema Due to Dose-limiting Toxicity

Adverum said it no longer plans future development for DME after a dose-limiting toxicity not seen before in ocular gene therapy or anti-VEGF treatment has been observed at the high dose. The company, however, plans to evaluate ADVM-022, a single intravitreal injection gene therapy, at low doses and with alternative prophylactic regimens in a future Phase 2 clinical trial in wet AMD.

The stock was slipping 20.92% to $2.42 in premarket trading.

Castle Biosciences Announces Positive Study Results For 2 Skin Cancer Gene Expression Profile Tests

Castle Biosciences, Inc. (NASDAQ:CSTL) announced data presentations on two of its skin cancer gene expression profile tests at the Society of Dermatology Physician Assistants Annual Summer Dermatology Conference 2021.

Results from the study of the DecisionDx-Melanoma reinforced its clinical utility of diagnosed with cutaneous melanoma. This study of the company's DecisionDx-SCC demonstrated that the intended use population aligns with the cases that were submitted for clinical testing and that the results can be applied as an adjunct to enhance SCC risk stratification and contribute to risk-appropriate surveillance and treatment decisions.

NGM Biopharma Completes Enrollment Into Phase 2 Study of NGM621 In Geographic Atrophy

The stock was up 4.72% at $22.20 in premarket trading.

Alzamend Announces Positive Toxicology Results From Animal Testing of Alzheimer's Drug Candidate

Alzamend Neuro, Inc. (NASDAQ:ALZN) said it has received positive toxicology results for AL002 in a good laboratory practices toxicology study using a transgenic mouse model of Alzheimer's disease. The study was conducted by Charles River Laboratories.

Al002 is a patented method using a mutant-peptide sensitized cell as a cell-based therapeutic vaccine that seeks to restore the ability of a patient's immunological system to combat Alzheimer's.

In premarket trading, the stock was skyrocketing 72.47% at $9.90.

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

Pfizer-BioNTech To Supply 200M More Doses of COVID-19 Vaccine to U.S.

This brings the total number of doses to be supplied by the companies to the U.S. government under its existing supply agreement to 500 million.

Cyclerion Gains On Announcement Regarding Presentation at Alzheimer's Conference

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) said it will present clinical trial design for a Phase 2a study of its lead development candidate, CY6463, in participants with Alzheimer's disease with vascular pathology at the upcoming Alzheimer's Association International Conference 2021.

The company also said a researcher at the Boston University School of Medicine and Center for Translational and Cognitive Neuroscience will present results from the Cyclerion sponsored study on peak alpha frequency and N200 latency as predictors of neuropsychological performance in a memory disorders clinic.
The stock was adding 9.17% to $3.73 in premarket trading.

NRx Pharma Finds Follow-through Buying On Update On COVID-19 Treatment

The stock was moving up 38.42% at $22.77 in premarket trading.

Ocular Therapeutix Pre-announces Above-consensus Q2 Revenues

Ocular Therapeutix, Inc. (NASDAQ:OCUL) reported preliminary second quarter 2021 total net product revenue of approximately $11.7 million, up 600% year-over-year and 60% higher than in the previous quarter.

Analysts, on average, estimated revenues of $11.6 million for the quarter.

The stock was rising 8% to $13.09 in premarket trading.

Offerings

The stock was sliding 23.11% to 54.45 in premarket trading.

IPOs

Caribou Biomedical, Inc. (NASDAQ:CRBU), a clinical-stage CRISPR genome-editing biopharmaceutical company, priced its upsized IPO of 19 million shares of common stock at $16 per share. All of the shares of common stock are being offered by Caribou. The gross proceeds of the offering are expected to be $304 million.

The shares are expected to begin trading on the Nasdaq Global Select Market on July 23, 2021, under the ticker symbol "CRBU."

Cytek Biosciences, Inc. (NASDAQ:CTKB), a cell analysis solutions company, priced its IPO of an aggregate of 16.75 million shares of its common stock at $17 per share. The gross proceeds to Cytek from the offering are expected to be $200 million.

Cytek is offering 11.77 million shares of common stock and the selling stockholders named in the prospectus are offering 2.8 shares of common stock. Cytek will not receive any proceeds from the sale of shares by the selling stockholders. The shares are expected to begin trading on the Nasdaq under the symbol "CTKB."