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 on April 24)
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Eleven Biotherapeutics Inc (NASDAQ: EBIO)
Down In The Dumps
(Biotech Stocks Hitting 52-week lows on April 24)
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Acasti Pharma Inc (NASDAQ: ACST) on
announcing pricing of a common stock offering
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BioXcel Therapeutics Inc (NASDAQ: BTAI)
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Conatus Pharmaceuticals Inc (NASDAQ: CNAT)
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Paratek Pharmaceuticals Inc (NASDAQ: PRTK)
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Synergy Pharmaceuticals Inc (NASDAQ: SGYP)
Takeda's Relentless Pursuit For Shire
Shire PLC (ADR) (NASDAQ: SHPG) shares
rallied 5.64 percent to $173.18 after hours Tuesday, adding to their 2.41 percent advance in the regular session. Japan's
Takeda Pharmaceutical Co Ltd (OTC: TKPHF)
sweetened its cash and stock offer for the Irish pharma company for the fifth time, raising the offer this time around from $60
billion to $64.3 billion.
Shire's willingness to consider the proposal, contingent on certain conditions being met, suggest it may be finally coming
around.
Edward Lifesciences Plunges On Weak Guidance
Edwards Lifesciences Corp (NYSE: EW) shares
took a tumble in after hours Tuesday after it reported Q1 adjusted sales of $938 million, up 9.3 percent year-over-year, and
adjusted earnings per share of $1.22, up 29.8 percent.
The company raised its 2018 adjusted earnings per share guidance from $4.43-$4.63 to $4.50-$4.70, while issuing downbeat Q2
guidance.
Sangamo Dips On Common Stock Offering
Sangamo Therapeutics Inc (NASDAQ: SGMO)
shares were off 6.77 percent at $16.60 after hours Tuesday after the company announced a $200-million common stock offering.
Amgen Shares Trip Despite Beat
Amgen, Inc. (NASDAQ: AMGN) fell by 0.55
percent to $171 in after hours after it reported
better-than-expected Q1 results, thanks to strong product sales and a lower tax rate. The company
raised the lower-end of its full-year revenue and earnings per share guidance.
More Trouble For Menlo as Japanese Study Halted
Menlo Therapeutics Inc (NASDAQ: MNLO),
which saw its stock plummet 77 percent on April 9 on a failed Phase 2 study of its skin condition treatment seriopitant, came under
pressure yet again. The stock was down 9.49 percent to $7.25 after its Japanese partner JT Torii decided to halt the recently
initiated Phase 2 study of seriopitant in Japan.
On The Radar
The following companies report earnings on Wednesday:
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Integra Lifesciences Holdings Corp (NASDAQ: IART) - Q1 Adj. EPS $0.58 Beats $0.49 Est., Sales $357.1M Beats $349.1M Est.
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The Medicines Company (NASDAQ: MDCO) -
Q1 EPS $(0.76) Beats $(0.78) Est., Sales $7.77M Misses $7.99M Est.
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BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) – Expectations call for EPS of $(0.18), Sales of $348.57M
Related Links:
The
Week Ahead In Biotech: PDUFA Dates, IPOs And More
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Expect A Quick Resolution': Despite Partial Clinical Hold On Epizyme's Drug Candidate, Wedbush Stays Bullish
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