BPC April 10 update

WVE announces trial delay - shares -19%; ​​Outlook OTLK -45% on stock offering

Price and Volume Movers

Wave Life Sciences Ltd. (NASDAQ: WVE) shares closed down 19% to $33.91 following news of a delay in readouts from its two ongoing Phase 1b/2a clinical trials evaluating WVE-120101 and WVE-120102 for patients with Huntington’s disease (HD). In its most recent earnings update just last month, the company had noted that data were on track for release this quarter. However, it now expects data to be released by the end of this year due to slower than anticipated patient enrolment.

Outlook Therapeutics, Inc. (NASDAQ: OTLK) announced an underwritten public offering of 10,340,000 shares of its common stock, 15-month warrants to purchase up to 10,340,000 shares and 5-year warrants to purchase up to an additional 10,340,000 shares. Gross proceeds are expected to be approximately $28.4m. Shares closed down 45% to $1.73.

BioDelivery Sciences International, Inc. (Nasdaq: BDSI) announced that it is commencing an underwritten public offering of shares of its common stock. Shares are trading down 4% to $4.85 after hours.

Rexahn Pharmaceuticals, Inc. (NYSE American: RNN) announced that a 1-for-12 reverse stock split of its common stock will become effective on Friday, April 12, 2019.

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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:

AzurRx BioPharma, Inc. (AZRX): $2.60; +12%.

Palatin Technologies, Inc. (PTN): $1.18; +11%.

Aerpio Pharmaceuticals, Inc. (ARPO): $1.13; +11%.

Catabasis Pharmaceuticals, Inc. (CATB): $9.64; +11%.

Syndax Pharmaceuticals, Inc. (SNDX): $6.30; +10%.

DECLINERS:

PhaseBio Pharmaceuticals, Inc. (PHAS): $12.88; -12%.

Flexion Therapeutics, Inc. (FLXN): $11.00; -11%.

AVROBIO, Inc. (AVRO): $22.09; -10%.

Caladrius Biosciences, Inc. (CLBS): $3.00; -9%.

Autolus Therapeutics Plc (AUTL): $24.30; -9%.


Pipeline Database Updates

Drug Stage Catalyst Market Cap

CANF – Can-Fite Biopharma Ltd Sponsored ADR (Israel)
Namodenoson (CF102)
Cancer - advanced liver cancer second line

Phase 2 Phase 2 data did not meet primary endpoint - March 27, 2019.
$10.1 million

CNCE – Concert Pharmaceuticals Inc.
CTP-692
Schizophrenia

Phase 1 Phase 2 trial to be initiated 4Q 2019.
$269.4 million

SBPH – Spring Bank Pharmaceuticals Inc.
Inarigivir and Vemlidy - ACHIEVE
Hepatitis B (HBV)

Phase 2a Phase 2 data presented at EASL April 12, 2019.
$78.4 million

WVE – Wave Life Sciences Ltd.
WVE-120101
Huntington’s disease

Phase 1/2 Phase 1b/2a top line data due by YE 2019.
$926.9 million

WVE – Wave Life Sciences Ltd.
WVE-120102
Huntington’s disease

Phase 1/2 Phase 1b/2a top line data due by YE 2019.
$926.9 million