BioPharm Catalysts (event schedules) Low float bi
Post# of 102052
Low float biotech stocks continued to benefit from the latest biotech mania to hit the market. Tuesday's chief benefactor was Celsion Corporation (NASDAQ:CLSN), which saw its shares soar 301% to $6.06, followed by Endocyte, Inc.(NASDAQ:ECYT) which has surged 317% to $5.88 over the past two trading days.
In other news...
CytomX Therapeutics, Inc., (NASDAQ:CTMX) shares are trading up 36% to $25.77 in the after-hours session following its announcement of a collaboration with Amgen (NASDAQ:AMGN) in immuno-oncology. The companies will co-develop a CytomX Probody T-cell engaging bispecific against the Epidermal Growth Factor Receptor (EGFR). Amgen will make an upfront payment of $40m and purchase $20m of CytomX common stock. CytomX will be eligible to receive up to $455m in milestone payments.
RedHill Biopharma Ltd. (NASDAQ: RDHL) shares slid 13% to $9.39 following mediocre data from its Phase 2 trial of BEKINDA (RHB-102) for the treatment of diarrhea-predominant irritable bowel syndrome (IBS-D). The trial met its primary endpoint, improving the primary efficacy outcome of stool consistency response (55% treated with BEKINDA vs 35% taking placebo). However, a p value of 0.05 was recorded, the bare minimum required for a successful trial.
Rigel Pharmaceuticals, Inc. (Nasdaq:RIGL) announced that its Phase 2 open-label trial of fostamatinib for the treatment of patients with warm antibody AIHA will move to the second of a two-stage trial following sufficient efficacy shown in the first stage. The company also announced after-hours that it intends to offer $40m of shares in an underwritten public offering. Shares have fallen back 7% to $3.02 in the after-hours trading session, following a 4% drop during the normal trading hours.
Allergan plc (NYSE:AGN) announced the FDA approval of BOTOX for its third indication, the temporary improvement in the appearance of moderate to severe forehead lines associated with frontalis muscle activity in adults.
Strongbridge Biopharma plc (NASDAQ:SBBP) announced that it intends to offer and sell its ordinary shares in an underwritten public offering.
NewLink Genetics Corporation (Nasdaq:NLNK) also announced that it intends to offer up to $50m shares of its common stock in an underwritten public offering.
Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) and Dimension Therapeutics, Inc. (NASDAQ
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Other major price movers (stocks priced > $1.00, volume > 50k):
Refer to the BioPharmCatalyst Biotech Stocks page for Top 10 Gainers/Losers/Unusual Volume INCLUDING sub-$1 stocks.
ADVANCERS:
Anthera Pharmaceuticals Inc (NASDAQ:ANTH):
MannKind Corporation (NASDAQ:MNKD):
Cerecor Inc (NASDAQ:CERC):
Benitec Biopharma Ltd (NASDAQ:BNTC):
Arca Biopharma Inc (NASDAQ:ABIO):
DECLINERS:
Aralez Pharmaceuticals Inc (NASDAQ:ARLZ):
PTC Therapeutics, Inc. (NASDAQ
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Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP):
Akari Therapeutics (NASDAQ:AKTX):
Viking Therapeutics Inc (NASDAQ:VKTX): $1.74; -8%.
Pipeline updates below:
DRUG STAGE CATALYST
TICKER: AGN
Botox
Forehead lines
APPROVED Approval (third indication) announced October 3, 2017.
TICKER: RDHL
BEKINDA
IBS-D
PHASE 2 Phase 2 top-line data released October 3, 2017 - primary endpoint met (borderline) - p=0.05.
TICKER: RIGL
Fostamatinib
Autoimmune hemolytic anemia (AIHA)
PHASE 2 Phase 2 data from Stage 1 of trial released October 3, 2017 - sufficient efficacy shown to progress to Stage 2.
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