BPC August 30 update

Genmab GMAB and Novartis NVS announce positive MS data; Alexion ALXN falls on patent review

Price and Volume Movers

Genmab A/S (Nasdaq: GMAB) and Novartis (NYSE: NVS) announced that their Phase 3 trial of ofatumumab (OMB157) versus teriflunomide, in adults with relapsing forms of multiple sclerosis (RMS), met the primary endpoints where ofatumumab showed a highly significant and clinically meaningful reduction in the number of confirmed relapses. Key secondary endpoints of delaying the time to confirmed disability progression were also met. Data will be presented as a late-breaker presentation on September 13 at the European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS) meeting.

Alexion Pharmaceuticals (NASDAQ: ALXN) shares closed down 10% to $100.76 on news the U.S. Patent and Trademark Office (PTO) will review patents of its blood disorder treatment, Soliris, following a challenge by Amgen Inc (NASDAQ: AMGN).

Vical Incorporated (Nasdaq:VICL) announced that it is expected to close its merger with Brickell Biotech and will trade on a 1:7 reverse split adjusted basis under the new ticker of “BBI” from Tuesday September 3.

Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) shares closed up 10% to $3.74. The company announced The Lancet Infectious Diseases published data from the OASIS-2 Phase 3 clinical trial of Nuzyra (omadacycline), for the treatment of acute bacterial skin and skin structure infections (ABSSSI). The data led to the approval of Nuzyra by the FDA in October 2018.

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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:

OptiNose, Inc. (OPTN): $7.66; +12%.

Anchiano Therapeutics Ltd (ANCN): $2.47; +10%.

Evolus, Inc. (EOLS): $17.24; +9%.

UroGen Pharma Ltd. (URGN): $33.95; +9%.

Akari Therapeutics, Plc (AKTX): $2.08; +8%.

DECLINERS:

Mallinckrodt Public Limited Company (MNK): $2.59; -16%.

Abeona Therapeutics Inc. (ABEO): $1.54; -15%.

Kezar Life Sciences, Inc. (KZR): $3.38; -13%.

Cortexyme, Inc. (CRTX): $19.85; -10%.

Liquidia Technologies Inc. (LQDA): $4.06; -10%.


Pipeline updates below:

Pipeline Database Updates

Drug Stage Catalyst Market Cap

NVS – Novartis AG
OMB157 (ofatumumab)
Relapsing multiple sclerosis

Phase 3 Phase 3 data met endpoints - August 30, 2019. Data presented at ECTRIMS September 13, 2019 noted reduction in annualized relapse rate (ARR) by 50.5% and 58.8% compared to Aubagio.
$198.4 billion