Here's a roundup of top developments in the biotech space over the last 24 hours.
Stocks In Focus
Horizon Announces Retirement Of CFO, Beat-and-raise Q3
Horizon Therapeutics plc HZNP announced Paul Hoelscher, executive vice president, chief financial officer, will retire effective May 16, 2022, and continue as an advisor to the company through May 2023. Aaron Cox, who was named executive vice president, finance, will succeed Hoelscher.
Separately, the company reported 63% year-over-year increase in third-quarter sales to $1.037 billion and non-GAAP EPS of $1.75, up from $1.74 a year ago. The company also raised its full-year guidance.
Teva Prices Upsized Sustainability-Linked Senior Notes
Teva Pharmaceutical Industries Ltd. TEVA announced that it successfully upsized and priced approximately $5 billion worth of its debut sustainability-linked senior notes. The principal amount of the offering was increased from the previously announced offering size of $4 billion. Teva expects to use the net proceeds from the offerings for redemption of some of its debt, to fund the repayment of outstanding debt upon maturity, tender offer or earlier redemption, and to the extent of any remaining proceeds, for general corporate purposes.
The stock was down 0.99% at $10.01 in premarket trading.
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Qiagen Announces Launch of Test to Differentiate Seasonal Respiratory Infections and COVID-19
QIAGEN N.V. QGEN announced the launch and CE-marking of the QIAstat-Dx Respiratory 4 Plex Flu A-B/RSV/SARS-CoV-2 test for the QIAstat-Dx system to quickly identify whether patients have common seasonal respiratory infections or SARS-CoV-2.Tyndromic test differentiates between influenza A and B, RSV and SARS-CoV-2, a critical test for upcoming flu seasons.
The stock was up 2.77% to $56.68 in premarket trading.
Cerus Corporation CERS said its third-quarter revenues climbed from $29.19 million in 2020 to $42.10 million in 2021. The net loss per share narrowed from 8 cents to 7 cents. The company raised its net product guidance for 2021.
The stock was up 13% to $7.56 in premarket trading.
Rigel Pharmaceuticals, Inc. RIGL's third-quarter revenues climbed from $18.39 million in 2020 to $21.54 million in 2021. The net loss per share widened from 8 cents to 12 cents. Analysts had estimated a loss of 10 cents per share.
The stock was slipping 10.36% to $3.2 in premarket trading.
Exelixis, Inc. EXEL reported third-quarter revenues of $328.4 million, with Cabozantinib franchise revenues at $263.1 million. Non-GAAP net income per share increased from 4 cents to 20 cents. Analysts, on average, estimated revenues of $354.02 million and EPS of 16 cents.
In premarket trading, the stock was retreating 6.76% to $20.40.
Timber Pharmaceuticals, Inc. TMBR announced that it intends to offer and sell in an underwritten public offering, subject to market and other conditions, shares of its common stock. Each share of common stock will be sold with a warrant to purchase one share of common stock.
The stock was plunging 21.81% to 62.55 cents.
On The Radar
RAPT Therapeutics, Inc. RAPT will present at the Inflammatory Skin Disease Summit additional efficacy results from a Phase 1b monotherapy trial of RPT193 in patients with moderate-to-severe atopic dermatitis
- Agios Pharmaceuticals, Inc. AGIO (before the market open)
- Amneal Pharmaceuticals, Inc. AMRX (before the market open)
- Horizon Therapeutics Public Limited Company HZNP (before the market open)
- Amarin Corporation plc AMRN (before the market open)
- Intercept Pharmaceuticals, Inc. ICPT (before the market open)
- Ionis Pharmaceuticals, Inc. IONS (before the market open)
- Pacira BioSciences, Inc. PCRX (before the market open)
- Syneos Health, Inc. SYNH (before the market open)
- United Therapeutics Corporation UTHR (before the market open)
- Praxis Precision Medicines, Inc. PRAX (before the market open)
- Viking Therapeutics, Inc. VKTX (after the close)
- Outset Medical, Inc. OM (after the close)
- Zymergen Inc. ZY (after the close)
- Heron Therapeutics, Inc. HRTX (after the close)
- Ortho Clinical Diagnostics Holdings plc OCDX (after the close)
- Supernus Pharmaceuticals, Inc. SUPN (after the close)
- Sarepta Therapeutics, Inc. SRPT (after the close)
- QIAGEN N.V. QGEN (after the close)
- Penumbra, Inc. PEN (after the close)
- ICU Medical, Inc. ICUI (after the close)
- Corcept Therapeutics Incorporated CORT (after the close)
- AtriCure, Inc. ATRC (after the close)
- Adaptive Biotechnologies Corporation ADPT (after the close)
- 10x Genomics, Inc. TXG (after the close)
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