BPC December 28 update

OPK shares +25% on settlement with SEC; ReShape RSLS to delist from NASDAQ

Price and Volume Movers

The final Friday of 2018 was bereft of any major biotech news flow with much the same expected for New Year’s Eve on Monday.

OPKO Health, Inc (NASDAQ: OPK) was the main mover off news, with shares closing up 25% to $3.16 on news after hours Thursday that the company and its CEO, Dr. Phillip Frost, have agreed with the Securities and Exchange Commission to settle allegations that they violated certain SEC laws. As part of the settlement, Frost will pay $5.5m while the company has been penalised $100,000. Frost will also be prohibited, with certain exceptions, from trading in penny stocks. 

ReShape Lifesciences Inc (RSLS) received notice that it has been delisted from NASDAQ and will trade on the OTC Market from December 31, 2018.

vTv Therapeutics Inc. (NASDAQ: VTVT) shares closed up 120% to $2.27. While no news was released by the company, the speculative move appears to be in reaction to a purchase of $1.5m of the company’s stock by a major shareholder.

The company noted in its SEC filing:

On December 27, 2018, vTv Therapeutics Inc. (the “Company”) exercised its right to cause MacAndrews & Forbes Group LLC (the “Investor”) to purchase 815,217 shares of the Company’s Class A common stock at a per share price of $1.84 pursuant to the terms of the letter agreement between the Company and the Investor dated December 11, 2018 (the “December 2018 Letter Agreement”).  The Investor funded $1.5 million to the Company in exchange for 815,217 shares of Class A common stock following the execution of definitive documentation by and between the Company and the Investor.

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Major price movers (stocks priced > $1.00, volume > 50k):

Refer to the BioPharmCatalyst Biotech Stocks page for Top 10 Gainers/Losers/Unusual Volume

ADVANCERS:

PLx Pharma Inc. (PLXP): $1.65; +31%.

Zosano Pharma Corporation (ZSAN): $2.27; +23%.

Unum Therapeutics Inc. (UMRX): $4.52; +22%.

Proteon Therapeutics, Inc. (PRTO): $2.25; +22%.

Anavex Life Sciences Corp. (AVXL): $1.52; +22%.

DECLINERS:

Novus Therapeutics, Inc. (NVUS): $1.79; -11%.

Scholar Rock Holding Corporation (SRRK): $21.34; -10%.

Replimune Group, Inc. (REPL): $9.97; -10%.

BioXcel Therapeutics, Inc. (BTAI): $3.94; -10%.

Kodiak Sciences Inc. (KOD): $6.62; -9%.


Pipeline update below:

Pipeline Database Updates

Drug Stage Catalyst Market Cap

CTIC – CTI BioPharma Corp.
Pacritinib - PAC203
Myelofibrosis

Phase 2/3 Phase 2 completion of enrolment announced December 28, 2018, top-line data due 3Q 2019, with Phase 3 to commence 3Q 2019.
$64.4 million