BPC December 19 update

Conatus (CNAT) shares rocket 140% following partnership with Novartis

Price and Volume Movers

Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) shares have surged over 140% in the after-hours session following its announcement that it has entered into a license agreement for emricasan with Novartis (NYSE:NVS). Conatus will receive $50m upfront in addition to milestone payments and double digit royalties on any sales of emricasan. In addition, Novartis will pay 50% of its Phase 2b emricasan development costs. Novartis will assume full responsibility for emricasan's Phase 3 development.

Clovis Oncology, Inc. (NASDAQ:CLVS) today announced that the FDA approved Rubraca (rucaparib) tablets as monotherapy for the treatment of patients with deleterious BRCA mutation (germline and/or somatic) associated advanced ovarian cancer. The original PDUFA date under priority review was February 23, 2017. Shares closed up 9% on 7x average volume.

Loxo Oncology Inc (NASDAQ:LOXO) shares surged to close up 26% on 17x average volume following a pipeline update today for larotrectinib (LOXO-101). The company noted that it is due to report top-line data from its Phase 2 basket trial in 2H 2017 and expects to submit a New Drug Application (NDA) in late 2017 or early 2018.

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) closed up 17% on 17x average volume following news that the company was granted Breakthrough Therapy designation to TNX-102 SL for the treatment of posttraumatic stress disorder (PTSD). It is expected to initiate Phase 3 trials in 1Q 2017.


Other major price movers (10%+):

ADVANCERS:

MannKind Corporation (NASDAQ:MNKD): +28%; 3x average volume.

Zosano Pharma Corp (NASDAQ:ZSAN): +20%; 4x average volume.

Pulmatrix Inc (NASDAQ:PULM): +19%; 10x average volume.

Dipexium Pharmaceuticals Inc (NASDAQ:DPRX): +19%.

Neuralstem, Inc. (NASDAQ:CUR): +16%; 7x average volume.

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX): +11%; 5x average volume.

DECLINERS:

Catalyst Biosciences Inc (NASDAQ:CBIO): -16%; 1.5x average volume.

Prima BioMed Ltd (ADR) (NASDAQ:PBMD): -14%; 9x average volume.

aTyr Pharma Inc (NASDAQ:LIFE): -10%; 2x average volume.

 

Full pipeline updates below:

Pipeline Database Updates

Drug Stage Catalyst

CLVS
Rucaparib ARIEL2
Cancer - ovarian second line

Approved Approved December 19, 2016. Original PDUFA date under priority review was February 23, 2017.

LOXO
Larotrectinib (LOXO-101) - NAVIGATE
Solid tumors that harbor a TRK fusion.

Phase 2 Announced February 21, 2017 that trial enrollment has been completed with Phase 2 data due 2H 2017. NDA filing late 2017 or early 2018. Late breaker ASCO June 3, 2017. Abstract LBA2501.

BCLI
NurOwn
Amytrophic lateral sclerosis (ALS)

Phase 3 Phase 2 data released July 2016. Phase 3 trial to be initiated 2Q 2017.

RPRX
Proellex
Endometriosis

Phase 2 Phase 2 data released September 2016. Announced December 19, 2016 that a meeting with the FDA has been requested - likely during 1H 2017.

RDHL
YELIVA
Refractory or relapsed multiple myeloma - cancer

Phase 1/2 Phase 1/2 trial initiation announced September 8, 2016. Announced that dosing has commenced - December 19, 2016.

TBPH
Closed Triple - CAPTAIN
Asthma

Phase 3 Phase 3 study completion due 2018.

SAGE
SAGE-217
Major Depressive Disorder (MDD)

Phase 2 Phase 2 initiation announced December 19, 2016. Part B data due 1H 2018.

MNOV
MN-166
Progressive multiple sclerosis (progressive MS)

Phase 2b Phase 2b final data due 2H 2017.