Here's a roundup of top developments in the biotech space over the last 24 hours.
Scaling the Peaks
(Stocks hitting 52-week highs on May 23)
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ABIOMED, Inc. (NASDAQ: ABMD)
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ArQule, Inc. (NASDAQ: ARQL)
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Crispr Therapeutics AG (NASDAQ: CRSP)
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Evolus Inc (NASDAQ: EOLS)
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Immunomedics, Inc. (NASDAQ: IMMU)
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Merit Medical Systems, Inc. (NASDAQ: MMSI)
-
Mersana Therapeutics Inc (NASDAQ: MRSN)
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Mirati Therapeutics Inc (NASDAQ: MRTX)
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Momenta Pharmaceuticals, Inc. (NASDAQ: MNTA)
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Novus Therapeutics Inc (NASDAQ: NVUS)
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Retrophin Inc (NASDAQ: RTRX)
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SurModics, Inc. (NASDAQ: SRDX)
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Tecogen Inc (NASDAQ: TGEN)
-
Xencor Inc (NASDAQ: XNCR)
Down In The Dumps
(Stocks hitting 52-week lows on May 23)
-
Ardelyx Inc (NASDAQ: ARDX) (following
its capital raising program)
-
Cellectar Biosciences Inc (NASDAQ: CLRB)
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Edge Therapeutics Inc (NASDAQ: EDGE)
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PAVmed Inc (NASDAQ: PAVM)
-
Soligenix, Inc. Common Stock (NASDAQ: SNGX)
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Unity Biotechnology Inc (NASDAQ: UBX)
See Also: Cesca
Therapeutics Snags Bullish HC Wainwright Initiation On CAR-T Opportunity
Stocks In Focus
Novartis Unit Gets EC Approval For Autoimmune Disease Therapy
Novartis AG (ADR) (NYSE: NVS)'s Sandoz unit
announced
that the European Commission has approved its Zessly for use in Europe. Zessly is approved for several indications such as
rheumatoid arthritis, adult Crohn's disease, pediatric ulcerative colitis, ankylosing spondylitis, psoriatic arthritis and plaque
psoriasis.
Melinta Prices Common Stock Offering
Melinta Therapeutics, Inc. (NASDAQ: MLNT) said it has priced its 22 million common stock offering at $5 per share.
Melinta's
shares fell 2.82 percent to $6.05 after hours.
Cytori Begins to Trade On Split-adjusted Basis
Cytori Therapeutics Inc (NASDAQ: CYTX)
announced
that it effected a 10-for-1 reverse stock split on May 23, and shares will begin trading on a post-split basis, beginning on May
24.
Following the reverse split, the number of outstanding shares was reduced from 61.6 million to 6.2 million.
Eiger Announces Common Stock Offering
Eiger Biopharmaceuticals Inc (NASDAQ: EIGR) announced
an underwritten common stock offering, with all shares to be sold by the company.
The company said it intends to use the proceeds to fund the Phase 3 clinical trial of lonafarnib in Hepatitis Delta Virus
infection, regulatory development of lonafarnib related to the treatment of Hutchison-Gilford Progeria Syndrome, and for working
capital and other general corporate purposes.
The stock fell 4.30 percent to $13.35 after hours.
Ultragenyx Releases Results of X-linked Hypophosphatemia Drug Trial
Ultragenyx Pharmaceutical Inc (NASDAQ: RARE) and its Japanese partner Kyowa Hakko Kirin announced a Phase 2 trial that
evaluated their crysvita for treating X-linked hypophosphatemia, or XLH, in children aged 5-12 years showed improvement in rickets
severity, growth, pain and physical function, and increased serum phosphorus and renal phosphate reabsorption.
The results were published in the New England Journal of Medicine. Previously, top-line results from the study were published in
April 2017.
Apellis, Marinus Up On Sell-Side Initiations
Apellis Pharmaceuticals Inc (NASDAQ: APLS) shares were up 8.85 percent at $21.40 after hours while Marinus
Pharmaceuticals Inc (NASDAQ: MRNS) rallied 7.07
percent $5.60.
Cantor Fitzgerald initiated coverage of Apellis with an Outperform rating and a $52 price target. Marinus was started with an
Outperform rating and a $15 price target, with the optimism premised on the impending release of mid-stage trial data for its
post-partum depression treatment candidate.
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