Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Benzinga's Biotech Pulse: Takeda Sweetens Shire Offer Again, Menlo's Woes Abound, Earnings Fail to Boost Amgen

SGMO, EW, TKPHF, GRCE, VYNE

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)

  • Eleven Biotherapeutics Inc (NASDAQ: EBIO)

Down In The Dumps

(Biotech Stocks Hitting 52-week lows on April 24)

  • Acasti Pharma Inc (NASDAQ: ACST) on announcing pricing of a common stock offering
  • BioXcel Therapeutics Inc (NASDAQ: BTAI)
  • Conatus Pharmaceuticals Inc (NASDAQ: CNAT)
  • Paratek Pharmaceuticals Inc (NASDAQ: PRTK)
  • 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:

  • Integra Lifesciences Holdings Corp (NASDAQ: IART) - Q1 Adj. EPS $0.58 Beats $0.49 Est., Sales $357.1M Beats $349.1M Est.
  • The Medicines Company (NASDAQ: MDCO) - Q1 EPS $(0.76) Beats $(0.78) Est., Sales $7.77M Misses $7.99M Est.
  • 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

'We Expect A Quick Resolution': Despite Partial Clinical Hold On Epizyme's Drug Candidate, Wedbush Stays Bullish



Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today