BPC February 08 update

Regeneron (REGN) Sanofi (SNY) win stay of order blocking Praluent; Tesaro (TSRO) spikes on acquisition chatter; GALE tumbles on pricing of offering

Price and Volume Movers

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Sanofi (SNY) announced that the United States Court of Appeals for the Federal Circuit has stayed the permanent injunction for their cholesterol drug, Praluent. Sanofi and Regeneron will now be permitted to continue marketing, selling and manufacturing Praluent during the appeal process. This follows a decision in early January when the companies were ordered to remove Praluent from the market following a patent lawsuit with Amgen’s (NASDAQ:AMGN) Repatha. Shares of Regeneron are up $3.75% to $366.49 in the after-hours session while Amgen shares are trading 1.92% lower at $168.12.

Shares of Tesaro (NASDAQ: TSRO) jumped during the morning session following reports that the company is weighing up options with investment banks following acquisition approaches. Shares closed up 12% to $182.68. Confirmation has yet to be released by the company.

Portola Pharmaceuticals, Inc.(Nasdaq:PTLA) noted in a release today that the FDA informed the company that it does not plan to hold an Advisory Committee meeting for its New Drug Application (NDA) for betrixaban. The PDUFA date under priority review is June 24, 2017. Shares closed down 3.3% to $27.35 after initially jumping up over 5% early in the session.

Galena Biopharma, Inc. (NASDAQ:GALE) announced the pricing of its $17m public offering consisting of one share and warrants to purchase one share, priced at $1 per unit. Shares slumped 40% to $0.834.

Coherus BioSciences, Inc. (Nasdaq:CHRS) also announced the pricing of its offering of 5,154,640 shares at a price to the public of $24.25 per share. Shares fell 11% to $23.60.

Sierra Oncology, Inc. (NASDAQ: SRRA) also announced that it intends to offer shares of its common stock in an underwritten public offering. Shares are currently trading down 7% in the after-hours session at $1.33.


Other price movers:

ADVANCERS:

Ocera Therapeutics Inc (NASDAQ:OCRX): $0.729; +33%.

Atossa Genetics Inc (NASDAQ:ATOS): $1.73; +21%.

Cerulean Pharma Inc (NASDAQ:CERU): $1.33; +15%.

ContraVir Pharmaceuticals Inc (NASDAQ:CTRV): $1.62; +14%.

OncoSec Medical Inc (NASDAQ:ONCS): $1.33; +13%.

Puma Biotechnology Inc (NASDAQ:PBYI): $37.25; +10%.

DECLINERS:

Acura Pharmaceuticals, Inc. (NASDAQ:ACUR): $0.92; -29%.

Concordia International Corp (NASDAQ:CXRX): $2.69; -23%.

Moleculin Biotech Inc (NASDAQ:MBRX): $1.50; -17%.

Gilead Sciences, Inc. (NASDAQ:GILD): $66.83; -9%.

Galectin Therapeutics Inc (NASDAQ:GALT): $1.17; -8%.


Full pipeline updates:

Pipeline Database Updates

Drug Stage Catalyst

ALNY
Patisiran APOLLO
Familial Amyloidotic Polyneuropathy (FAP) in Patients with ATTR

Phase 3 Phase 3 data due mid-2017.

CANF
CF101
Rheumatoid arthritis

Phase 3 Phase 3 enrollment to commence 3Q 2017.

JAZZ
JZP-110
Excessive Sleepiness in Parkinson's Disease

Phase 2 Phase 2 enrollment initiation announced February 8, 2017.

MEIP
Pracinostat in combination with Vidaza
High-risk Myelodysplastic Syndrome (MDS)

Phase 2 Phase 2 commencement of dosing announced June 14, 2017 - data from first stage due 1Q 2018.