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Here's a roundup of top developments in the biotech space over the last 24 hours.
(Biotech Stocks Hitting 52-week Highs May 4)
(Biotech Stocks Hitting 52-week Lows May 4)
Amryt (NASDAQ:AMYT) announced the signing of a definitive agreement to acquire Chiasma, Inc. (NASDAQ:CHMA) in an all-stock combination. The transaction has been approved and recommended by the boards of both Amryt and Chiasma.
Under the terms of the transaction, each share of Chiasma common stock will be exchanged for 0.396 Amryt ADSs, each representing five Amryt ordinary shares. As of the close of trading on May 4, Amryt's ordinary shares on AIM were 2 pounds ($2.78) per share and Amryt's ADS's on Nasdaq were $12.95 per ADS.
The acquisition, according to the companies, leverages Amryt's proven commercial execution ability, global infrastructure and integration capabilities to accelerate Mycapssa launch in the U.S. and international markets
Athenex announced that it has acquired Kuur Therapeutics, Inc., a developer of off-the-shelf CAR-NKT cell immunotherapies for the treatment of solid and hematological malignancies.
Under the terms of the agreement, Athenex will pay $70 million upfront to Kuur shareholders and certain of its former employees and directors, comprised primarily of equity in Athenex common stock. Additionally, they are eligible to receive up to $115 million of milestone payments, which may be paid, at Athenex's sole discretion, in either cash or additional Athenex common stock, or a combination of both.
The stock was up 24.26% to $4.61 in after-hours trading.
Related Link: Attention Biotech Investors: Mark Your Calendar For May PDUFA Dates
NeoGenomics, Inc. (NASDAQ:NEO), a provider of cancer-focused genetic testing services, announced it has agreed to acquire Inivata Ltd, a commercial-stage liquid biopsy platform company headquartered in Cambridge, England.
The acquisition follows a $25 million minority equity investment by NeoGenomics in Inivata in May 2020, at which time NeoGenomics was granted a fixed price option to purchase the remainder of Inivata for $390 million prior to Dec. 31, 2021.
The cash purchase price will be funded with balance sheet cash and through a private placement of equity. The acquisition is subject to satisfaction of certain customary closing conditions and is expected to close concurrently with the private placement in June 2021.
Tiziana Life Sciences plc (NASDAQ:TLSA) said it has executed an agreement with Takanawa Japan for a strategic business development plan to Identify a clinical partner in Japan and other Asian countries for further clinical development of Milciclib for treatment in advanced hepatocellular carcinoma patients.
Tiziana shares were adding 1.96% to $2.6 in premarket trading.
Roche Holding AG (OTC:RHHBY) said the European Commission has approved Tecentriq as a first-line treatment for adults with metastatic non-small cell lung cancer, whose tumors have high PD-L1 expression, with no epidermal growth factor receptor or anaplastic lymphoma kinase genomic tumour aberrations.
Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) said the FDA has accepted its investigational new Drug application for TP-05, an oral, non-vaccine therapeutic for the prevention of Lyme disease.
With this IND acceptance, the company expects to initiate a Phase 1 single ascending dose and multiple ascending dose study to evaluate the safety, tolerability, and pharmacokinetics of TP-05 in healthy volunteers. Study initiation is anticipated in July.
Esperion Therapeutics, Inc. (NASDAQ:ESPR) reported first-quarter revenues of $8 million, up from $1.8 million in the year-ago period. The net loss per share widened from $2.84 from $3.50. Analysts, on average, estimated a loss of $2.52 per share.
The stock fell 20.28% to $20.40 in after-hours trading.
Cytosorbents Corporation's (NASDAQ:CTSO) first-quarter revenues increased 10% year-over-year to $10.6 million. The loss per share remained flat at 10 cents per share. The consensus estimate had called for a loss of 3 cents per share.
In after-hours trading, the stock was down 6.49% to $8.50.
Inspire Medical Systems, Inc. (NYSE:INSP) reported first-quarter revenues of $40.4 million, up 89% year-over-year. The loss per share narrowed from 67 cents to 60 cents. Citing positive trends, the company raised its full-year guidance.
The stock lost 6.19% to $212.50 in after-hours trading.
Cocrystal Pharma announced that it has entered into an underwriting agreement with H.C. Wainwright & Co, under which the underwriter has agreed to purchase on a firm commitment basis 26 million shares of common stock at a price to the public of $1.54 per share. The closing of the offering is expected to occur on or about May 7, subject to satisfaction of customary closing conditions.
The stock plunged 19.16% to $1.73 in after-hours trading.
Veru Inc. (NASDAQ:VERU) will present at the European Society for Medical Oncology Breast Cancer Virtual Congress 2021, clinical results from the Phase 2 clinical study of enobosarm in heavily pretreated women with AR+ER+HER2- advanced breast cancer.
Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) (before the market open)
EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) (before the market open)
Editas Medicine, Inc. (NASDAQ:EDIT) (before the market open)
United Therapeutics Corporation (NASDAQ:UTHR) (before the market open)
Clovis Oncology, Inc. (NASDAQ:CLVS) (before the market open)
Vericel Corporation (NASDAQ:VCEL) (before the market open)
10x Genomics, Inc. (NASDAQ:TXG) (before the market open)
Passage Bio, Inc. (NASDAQ:PASG) (before the market open)
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) (before the market open)
NeoGenomics, Inc. (NEO) (before the market open)
OraSure Technologies, Inc. (NASDAQ:OSUR) (after the close)
Ampio Pharmaceuticals, Inc. (NYSE:AMPE) (after the close)
Arbutus Biopharma Corporation (NASDAQ:ABUS) (after the close)
Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) (after the close)
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) (after the close)
Aeglea BioTherapeutics, Inc. (NASDAQ:AGLE) (after the close)
Allogene Therapeutics, Inc. (NASDAQ:ALLO) (after the close)
Adaptive Biotechnologies Corporation (NASDAQ:ADPT) (after the close)
AxoGen, Inc. (NASDAQ:AXGN) (after the close)
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) (after the close)
Global Blood Therapeutics, Inc. (NASDAQ:GBT) (after the close)
Synthetic Biologics, Inc. (NYSE:SYN) (after the close)
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) (after the close)
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) (after the close)
REGENXBIO Inc. (NASDAQ:RGNX) (after the close)
Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) (after the close)
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) (after the close)
Ocular Therapeutix, Inc. (NASDAQ:OCUL) (after the close)
Glaukos Corporation (NYSE:GKOS) (after the close)
Celcuity Inc. (NASDAQ:CELC) (after the close)
CareDx, Inc (NASDAQ:CDNA) (after the close)
Nevro Corp. (NYSE:NVRO) (after the close)
Tandem Diabetes Care, Inc. (NASDAQ:TNDM) (after the close)
OrthoPediatrics Corp. (NASDAQ:KIDS) (after the close)
DiaMedica Therapeutics Inc. (NASDAQ:DMAC) (after the close)
Turning Point Therapeutics, Inc. (NASDAQ:TPTX) (after the close)
Outset Medical, Inc. (NASDAQ:OM) (after the close)
TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) (after the close)
Lumos Pharma, Inc. (NASDAQ:LUMO) (after the close)
NuVasive, Inc. (NASDAQ:NUVA) (after the close)
Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) (after the close)
Posted In: ABBV ABUS ACAD ADPT ADVM AERI AFIB AGLE AGRX AKYA ALLO AMPE AMYT AMZN APTX AQST ARNA ASMB ATNX AVIR
