BPC April 04 update

​Recro REPH restructuring - shares +28%; Merrimack MACK -12% on halt of early stage program

Price and Volume Movers

Recro Pharma, Inc. (NASDAQ: REPH) shares closed up 28% to $8.34 on restructuring news which will result in the reduction of approximately 50 employees.

Palatin Technologies, Inc. (NYSE American: PTN) announced it met primary and secondary endpoints in its Phase 1 trial of PL-8177, which is indicated for the treatment of ulcerative colitis and other inflammatory bowel diseases. Shares closed up 6% to $1.04.

DBV Technologies (Nasdaq Stock Market: DBVT) shares closed up 12% to $8.76 .The company announced an offering of its shares for gross proceeds of $70.4m.

Pulmatrix, Inc. (NASDAQ: PULM) announced the pricing of its previously announced underwritten public offering of 10,666,666 units at a price to the public of $1.35 per unit. Each unit is comprised of one share and one warrant to purchase one share of common stock. Shares closed down 23% to $1.20.

AVEO Pharmaceuticals, Inc. (Nasdaq: AVEO) shares closed down 29% to $0.93 following Wednesday’s offering after hours.

Merrimack Pharmaceuticals, Inc. (Nasdaq: MACK) announced it is discontinuing development of MM-310, for the treatment of solid tumors. The decision was based on findings its Phase 1 trial would not be able to reach an optimal therapeutic index. Shares are trading down 12% to $6.35 after hours.

Acceleron Pharma Inc. (NASDAQ:XLRN) shares are trading down 4% after hours to $44.40 on news it is discontinuing development of ACE-2494, for the potential treatment of neuromuscular disorders, due to “the frequency of anti-drug antibodies (ADAs) observed among participants” in its Phase 1 trial.

Syros Pharmaceuticals (NASDAQ: SYRS) announced a public offering of common and preferred stock together with warrants. Shares are trading down 21% to $7.70 after hours.

Axovant Gene Therapies Ltd. (NASDAQ: AXGT) announced it will effect a 1-for-8 reverse split in May 2019. Shares are trading down 6% after hours to $1.18.

Vital Therapies, Inc. (Nasdaq: VTL) provided an update noting it will merge and change its name to Immunic, Inc. with shares trading under the ticker “IMUX” from mid-April.

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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:

Tonix Pharmaceuticals Holding Corp. (TNXP): $2.81; +21%.

Sunesis Pharmaceuticals, Inc. (SNSS): $1.70; +12%.

Liquidia Technologies Inc. (NASDAQ: LQDA): $11.39; +12%.

Kodiak Sciences Inc. (KOD): $6.85; +9%.

Moderna, Inc. (MRNA): $23.08; +8%.

DECLINERS:

Atossa Genetics Inc. (ATOS): $3.09; -9%.

Citius Pharmaceuticals, Inc. (CTXR): $1.20; -8%.

Adaptimmune Therapeutics plc (ADAP): $4.96; -8%.

Mersana Therapeutics, Inc. (MRSN): $4.79; -8%.

DiaMedica Therapeutics Inc. (DMAC): $3.75; -7%.


Pipeline Database Updates

Drug Stage Catalyst Market Cap

AZN – Astrazeneca PLC
Fasenra
Hypereosinophilic Syndrome

Phase 2 Phase 2 trial met primary endpoint - noted April 4, 2019.
$105.5 billion

CFRX – ContraFect Corporation
CF-301
Serious infections caused byStaph aureus including MRSA

Phase 2 Phase 2 trial noted clinically meaningful data but not statistically significant. Phase 3 trial planned.
$40.3 million

MACK – Merrimack Pharmaceuticals Inc.
MM-310
Solid tumors

Phase 1 Announced April 4, 2019 discontinuation of development.
$75.4 million

NGM – NGM Biopharmaceuticals Inc.
NGM120
Cachexia syndrome

Phase 1 Phase 1a/1b trial to be initiated 2H 2019.
$915.4 million

NGM – NGM Biopharmaceuticals Inc.
NGM313 / MK-3655
Non-alcoholic steatohepatitis (NASH) and Type 2 diabetes

Phase 2 Phase 2 trial to be initiated 2020.
$915.4 million

NGM – NGM Biopharmaceuticals Inc.
NGM621
Geographic atrophy

Phase 1 Phase 1 trial to be initiated 2H 2019.
$915.4 million

NGM – NGM Biopharmaceuticals Inc.
NGM282
Non-alcoholic steatohepatitis (NASH)

Phase 2 Phase 2 interim cohort 4 data 4Q 2019.
$915.4 million

PFE – Pfizer Inc.
IBRANCE (palbociclib)
HR+/HER2- advanced breast cancer in men

Approved FDA approval of sNDA announced April 4, 2019.
$236.5 billion

PTN – Palatin Technologies Inc.
PL-8177
Non-infectious uveitis

Phase 2 Phase 2 trial to commence 4Q 2019.
$219.9 million

TNXP – Tonix Pharmaceuticals Holding Corp.
TNX-102 SL
Fibromyalgia

Phase 3 Phase 3 data September 6, 2016 did not meet primary endpoint - program discontinued. However company noted April 4, 2019 intention to initiate a Phase 3 trial.
$3.6 million

XLRN – Acceleron Pharma Inc.
ACE-2494
Healthy volunteers

Phase 1 Announced April 4, 2019 intention to discontinue development.
$2.2 billion

ZLAB – Zai Lab Limited
ETX2514SUL
Acinetobacter baumannii infections

Phase 3 Phase 3 top-line data due 2H 2020.
$2.1 billion