News Press Releases

The Daily Biotech Pulse: Arsanis Completes X4 Merger, EC Nod For Roche, Axovant Offering

ABT, ACHV, ADMA, ARRY, AXSM, ERNA, ATXS, CDNA | March 14, 2019

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 March 13)

Abbott Laboratories (NYSE: ABT)
Akari Therapeutics PLC (NASDAQ: AKTX)(reported positive pre-IND meeting with the FDA)
Array Biopharma Inc (NASDAQ: ARRY)
Ascendis Pharma A/S (NASDAQ: ASND)
CareDx Inc (NASDAQ: CDNA)
Chiasma Inc (NASDAQ: CHMA)
Denali Therapeutics Inc (NASDAQ: DNLI)
Edwards Lifesciences Corp (NYSE: EW)
Eli Lilly And Co (NYSE: LLY)
Guardant Health Inc (NASDAQ: GH)(reacted to the fourth-quarter results)
ITAMAR MED LTD/S ADR (NASDAQ: ITMR)
Kalvista Pharmaceuticals Inc (NASDAQ: KALV)
RA Medical Systems Inc (NYSE: RMED)
Tandem Diabetes Care Inc (NASDAQ: TNDM)

Down In The Dumps

(Biotech stocks hitting 52-week lows on March 13)

Achaogen Inc (NASDAQ: AKAO)
Aptinyx Inc (NASDAQ: APTX)
Soleno Therapeutics Inc (NASDAQ: SLNO)

Stock In Focus

Arsanis Completes X4 Merger, To Change Name To X4 Pharma

X4 Pharma announced the completion of its merger with Arsanis Inc (NASDAQ: ASNS), effective March 13. The holders of X4 received 0.5702 shares of Arsani for each X4 share in the merger. Also, Arsanis effected a 6-for-1 reverse stock split Wednesday.

In connection with the merger, Arsanis will change its name to X4 Pharma and begin trading on the Nasdaq under the ticker symbol XFOR, effective March 14.

Arsanis stock slipped 4 percent to $3.84 in after-hours trading.

Axovant To Offer Shares

Axovant Sciences Ltd (NASDAQ: AXGT) commenced an underwritten public offering of its common shares. All the shares are to be offered by the company.

The stock fell 9.60 percent to $1.60 in after-hours trading.

EC Approves Roche's Hemlibra for Prophylatic Treatment of Bleeding

Roche Holdings AG Basel ADR (OTC: RHHBY) said the European Commission has approved Hemlibra, which is being evaluated for routine prophylaxis of bleeding episodes in people with severe haemophilia A without factor VIII inhibitors.

Earnings

Melinta Therapeutics Inc (NASDAQ: MLNT) reported fourth-quarter revenues of $35.49 million compared to $4.23 million a year ago. The net loss narrowed from $7.40 to $3.94.

For 2019, the company guided 2019 net product sales to about $65 million.

The stock rallied 17.39 percent to $5.67 in after-hours trading.

ADMA Biologics Inc (NASDAQ: ADMA) reported 2018 revenues of $22.8 million, down $5.8 million from last year. The net loss for the year narrowed from $1.91 to $1.45.

The stock climbed 5.85 percent to $4.16 in after-hours trading.

Sophiris Bio Inc (NASDAQ: SPHS) reversed to a fourth-quarter profit of 18 cents per share from a loss of 13 cents per share. Analysts had estimated a loss of 12 cents per share.

The stock jumped 24.22 percent to $1.19 in after-hours trading.

VolitionRX Ltd (NYSE: VNRX) said it, along with its partners, have made significant progress, especially with the basics of its Nu Q platform and its expansion into new areas. The company said following the end of 2018, it has further strengthened its balance sheet, with existing investors exercising $6.7 million in outstanding warrants to purchase shares of its common stock.

Cash and cash equivalents as of Dec. 31, 2018 totaled $13.4 million compared to $10.1 million as of the end of 2017.

The stock gained 8.02 percent to $3.50 in after-hours trading.

On The Radar

Earnings

Neos Therapeutics Inc (NASDAQ: NEOS) (before the market open)
Catabasis Pharmaceuticals Inc (NASDAQ: CATB) (before the market open)
Rockwell Medical Inc (NASDAQ: RMTI) (before the market open)
Avadel Pharmaceuticals PLC (NASDAQ: AVDL) (before the market open)
Eyepoint Pharmaceuticals Inc (NASDAQ: EYPT) (before the market open)
Aquestive Therapeutics Inc (NASDAQ: AQST) (before the market open)
Auris Medical Holding AG (NASDAQ: EARS) (before the market open)
Axsome Therapeutics Inc (NASDAQ: AXSM) (before the market open)
Progenics Pharmaceuticals, Inc. (NASDAQ: PGNX) (before the market open)
Viveve Medical Inc (NASDAQ: VIVE) (after the market close)
RA Medical Systems Inc (NYSE: RMED) (after the market close)
Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH) (after the market close)
Zosano Pharma Corp (NASDAQ: ZSAN) (after the market close)
PDL BioPharma Inc (NASDAQ: PDLI) (after the market close)
BioDelivery Sciences International, Inc. (NASDAQ: BDSI) (after the market close)
BioTime, Inc. (NYSE: BTX) (after the market close)
Achieve Life Sciences Inc (NASDAQ: ACHV) (after the market close)
Athersys, Inc. (NASDAQ: ATHX) (after the market close)
BioNano Genomics Inc (NASDAQ: BNGO) (after the market close)