Here's a roundup of top developments in the biotech space over the last 24 hours:
Scaling The Peak
(Biotech stocks hitting 52-week highs on Jan. 22)
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Veracyte Inc (NASDAQ: VCYT)
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Down In The Dumps
(Biotech stocks hitting 52-week lows on Jan. 22)
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Amneal Pharmaceuticals Inc (NYSE: AMRX)
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China SXT Pharmaceuticals Inc (NASDAQ: SXTC)
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Neon Therapeutics Inc (NASDAQ: NTGN)
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Neuronetics Inc (NASDAQ: STIM)
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Selecta Biosciences Inc (NASDAQ: SELB)
- Translate Bio Inc (NASDAQ:TBIO)
Stock In Focus
FDA Permits Biohaven To Proceed With Late-Stage Trial Of Drug It In-Licensed From AstraZeneca
Biohaven Pharmaceutical Holding Co Ltd (NYSE: BHVN) said the FDA has given it the greenlight to proceed with the Phase 3 trial of
BHV-3241, which it had licensed from AstraZeneca plc (NYSE: AZN). This followed Biohaven's reactivation of the IND initially filed by
AstraZeneca.
BHV-3241, a novel myeloperoxidase inhibitor being developing as a potential treatment for multiple system atrophy (MSA), a
neurodegenerative disease.
Offerings
PTC Therapeutics, Inc. (NASDAQ: PTCT)
has commenced a public offering of $200 million worth of shares. All shares are to be sold by the company.
PTC Therapeutics shares slipped 7.03 percent to $30.7 in after-hours trading.
Selecta Biosciences said
its plans to offer shares of its common stock in an underwritten public offering. The company intends to use the net proceeds from
the offering to advance the development of SEL-212, including the completion of a head-to-head superiority trial of SEL-212
compared to the current FDA-approved uricase therapy, completion of the Phase trial and preparations of a Phase 3 trial, among
others.
Select Biosciences shares plummeted 18.42 percent to $1.55 in after-hours trading.
Mirati Therapeutics Inc (NASDAQ: MRTX)
announced the closing of a previously announced underwritten public offering of 1.86 million shares of its common stock at a price
of $62 per share. The company said it expects to mobilize gross proceeds of $115 million from the offering.
Mirati gained 2.41 percent to $65.50 in after-hours trading.
Urogen Pharma Ltd (NASDAQ: URGN)
announced plans to offer $150 million worth of its common shares in an underwritten public offering.
See Also: Searching
For A Treatment: NASH Investigational Drugs With Catalysts This Year
Unity Biotech Expands Phase 1 Study Of Osteoporosis Drug
Unity Biotechnology Inc (NASDAQ: UBX) is
further expanding the Phase 1 study of UBX0101, which is being evaluated to treat moderate to severe osteoarthritis of the knee,
adding a cohort of additional 24 patients to be treated at the highest evaluated dose of 4mg as Part B of the study.
"Part B is intended to supplement the initial Phase 1 trial (Part A) by further evaluating the impact of UBX0101 on specific
pro-inflammatory and extracellular matrix modifying factors within the Senescence-Associated Secretory Phenotype (SASP)," the
company
said.
The company expects to release top-line results of both the Part A and Part B study in the second quarter of 2019.
Aslan Publishes New Pre-Clinical Data For Breast Cancer Drug
ASLAN PHARMACEU/ADR (NASDAQ: ASLN)
announced publication of new preclinical data for its varlitinib in treating negative breast cancer, or TNBC, cell lines.
"The data suggest that HER-family signalling plays an important role in TNBC progression and that pan-HER inhibition is
potentially an effective treatment for TNBC patients," the company said.
Varlitinib had earlier shown positive results in clinical study of patients with HER2 positive metastatic breast cancer, and it
is also being evaluated in global studies in biliary tract cancer.
On The Radar
Earnings
Abbott Laboratories (NYSE: ABT)
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