BPC January 10 update

Sarepta (SRPT) provides positive update +21%; Recent reverse split stocks surge - ETRM 4-day 1225% gain

Price and Volume Movers

Biotech stocks which enforced recent reverse splits continued to garner attention from traders today while Sarepta Therapeutics Inc (NASDAQ:SRPT) and Illumina Inc. (NASDAQ: ILMN) were two companies to attract positive investor reaction following updates at the J.P. Morgan Health Conference.

Shares of Illumina, Inc. (NASDAQ:ILMN) closed up 17% to $165.04 on 4x average volume. The company announced sales revenue slightly above consensus and also unveiled its new NovaSeq sequencing technology, which is hoped to enable a $100 genome in the future. Leerink Partners increased their price target from $114 to $132.

Sarepta Therapeutics Inc (NASDAQ:SRPT) provided an update of its Exondys 51 launch for the treatment of Duchenne muscular dystrophy (DMD). The company noted that more than 250 start forms have been verified since the launch. Shares immediately spiked on the news before closing the session up 21% to $37.89 on 7x average volume. Shares of Summit Therapeutics PLC (ADR) (NASDAQ:SMMT) also reacted positively to the news, closing up 20% to $10.70 on 3x average volume. The company is also developing a candidate for DMD, with data from its proof of concept trial due in 2Q or 3Q 2017.

EnteroMedics Inc (NASDAQ:ETRM), which was noted yesterday for its 740%+ gain over three trading days, surged a further 57% today to close at $27.70. The stock closed last Wednesday’s session at $2.09 for a four-day gain of 1225%. Volume was relatively heavy, at 9x relative volume but down on sessions earlier in the week.

Neuralstem, Inc. (NASDAQ:CUR), which in its second trading day since it announced a 1:13 reverse split, saw its shares surge by 59% to $6.06 on 55x average volume. News of a patent filing appears to have provided the catalyst for the move.

GenVec Inc (NASDAQ:GNVC), which enforced a 1:10 reverse split last month saw its shares surge 77% to $8.79 on 170x average volume, while ImmunoCellular Therapeutics (NYSEMKT:IMUC) shares soared late in the session to close up 93% to $4.20 on 18x average volume. Diffusion Pharmaceuticals Inc. (NASDAQ: DFFN), a recent entrant to NASDAQ was another reverse split runner, closing up 46% to $8.35 after spiking over 100% during intra-day trading.

Egalet Corporation (Nasdaq: EGLT) shares dropped 22% to $6.52 on 5x average volume following a disappointing label for ARYMO ER (morphine sulfate), which was approved by the FDA yesterday. As noted in Monday’s newsletter, shares of the company were under pressure following news that there would not be an oral abuse deterrence on the label.


Other major price movers (+20%):

ADVANCERS:

CEL-SCI Corporation (NYSEMKT:CVM): $0.16; +39%; 16x average volume.

Onconova Therapeutics Inc (NASDAQ:ONTX): $3.18; +32%; 10x average volume.

Moleculin Biotech Inc (NASDAQ:MBRX): $2.67; +27%

ContraVir Pharmaceuticals Inc (NASDAQ:CTRV): $1.63; +22%; 2x average volume.

Apricus Biosciences Inc (NASDAQ:APRI): $1.57; +20%; 2x average volume.

Aradigm Corporation (NASDAQ:ARDM): $2.05; +17%; 4x average volume.


Similar to Monday’s pipeline updates, given the large number of presentations at J.P. Morgan and at the Biotech Showcase, only companies with notable changes to their pipelines are listed below.

Pipeline Database Updates

Drug Stage Catalyst

ADXS
Axalimogene filolisbac - AIM2CERV Trial
High-risk, locally advanced cervical cancer

Phase 3 Announced Phase 3 first patient dosed - February 6, 2017.

ALKS
ALKS 3831 - ENLIGHTEN-1
Schizophrenia

Phase 3 Pivotal trial initiated December 2015. Completion of enrollment announced May 1, 2017. Data due mid-2017.

APRI
Vitaros
Erectile dysfunction

NDA Filing NDA resubmission planned for 3Q 2017.

CHRS
CHS-1420
Psoriasis

Phase 3 Phase 3 top-line data met endpoints August 2016. Full data due released January 10, 2016. BLA filing due towards the end of 2Q 2017.

FPRX
Cabiralizumab (FPA008)
Pigmented Villonodular Synovitis (PVNS)

Phase 1/2 Phase 2 dose expansion phase initiated May 2016. Completion of enrollment announced April 10, 2017. Data due at ASCO June 4, 2017. Abstract 11078.

NKTR
NKTR-181
Lower back pain

Phase 3 Phase 3 data released March 20, 2017 - endpoints met.

NKTR
Cipro DPI
Bronchiectasis

Phase 3 Phase 3 data due 1H 2017.

NKTR
Inhaled Amikacin Solution (BAY41-6551T)
Gram-Negative Pneumonia (INHALE 1)

Phase 3 Phase 3 data due mid-2017.

NKTR
NKTR-214
Solid tumors - cancer

Phase 1/2 Phase 1/2 initial data due at ASCO investor event June 3, 2017. Abstract 2545 (June 5 poster).

ONCE
SPK-9001
Hemophilia B

Phase 1/2 Phase 1/2 updated data at ASH 2016. Further update released April 6, 2017.

PSTI
PLX-PAD (stem cells)
Critical limb ischemia (CLI)

Phase 3 Phase 3 enrollment to commence 1H 2017.

PBYI
Neratinib monotherapy with high dose loperamide prophylaxis - CONTROL
Extended adjuvant treatment of early stage HER2-positive breast cancer

Phase 2 Phase 2 additional data released December 8 2016 and April 4, 2017. Noted high rates of diarrhea.

PBYI
Neratinib SUMMIT
HER2 non-amplified breast cancer that has a HER2 mutation

Phase 2 Phase 2 preliminary data released December 8, 2016 with further data presented April 2, 2017.

RDHL
RHB-105
H. pylori

Phase 3 Phase 3 final data released March 2016. Additional Phase 3 trial planned to be 2Q 2017.

RARE
UX007 (triheptanoin)
Glut1 DS patients with the movement disorder phenotype

Phase 3 Phase 3 to be initiated 1H 2017.