BPC January 31 update

Aimmune AIMT peaunt allergy FDA Approval; Syndax SNDX shares climb 41% on capital raise

Price and Volume Movers

Aimmune Therapeutics, Inc. (Nasdaq: AIMT) announced that the FDA approved Palforzia, the first approved treatment for patients with peanut allergy. Initial dose escalation may be administered to patients aged 4 through 17 years. Shares are currently trading up 20% to $37.41 after hours.

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) announced that it has entered into an agreement with five life sciences investors for the purchase of common stock at $8 per share for gross proceeds of $35m. The pricing represents a premium of 20% to the share price as of market close on Thursday, January 30, which investors reacted positively to, sending shares up 41% to $9.38.

Aduro Biotech (NASDAQ: ADRO) shares closed up 24% to $1.68. Analysts at SVB Leerink raised their price target of the stock from $3 to $7 and maintained an Outperform rating.

Reata Pharmaceuticals, Inc. (NASDAQ: RETA) shares closed up 13% to $218.79. The move appears to be in reaction to rumors that the company might be acquired by Amgen, with investors making the link from Amgen’s conference call late-Thursday where the CEO, Bob Bradway noted it will be looking for business opportunities in the area of nephrology (kidney disease), an indication that Reata specializes in.

“We have not found in our own discovery research efforts that we've been able to find the kinds of game changing innovation that we want to invest in from a discovery standpoint. So we're not investing in discovery research in nephrology right now, but we are going to look for business development opportunities there and in general our strategy when it comes to the business development is to look for medicines that make a big difference for patients suffering from these diseases.”

A number of companies continue to put out coronavirus-related press releases, with the vast majority of small-cap examples taking advantage of the outbreak in order to boost their stock price in the short term. Today, Vaxart, Inc. (Nasdaq:VXRT) joined the list, announcing it has initiated a program to develop a coronavirus vaccine candidate based on its proprietary oral vaccine platform, VAAST. Shares closed up 72% to $1.25.

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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:

Cleveland BioLabs, Inc. (CBLI): $4.23; +34%.

Selecta Biosciences, Inc. (SELB): $3.60; +20%.

Adial Pharmaceuticals, Inc. (ADIL): $1.82; +14%.

Vir Biotechnology, Inc. (VIR): $26.63; +13%.

Soligenix, Inc. (SNGX): $2.73; +11%.

DECLINERS:

Miragen Therapeutics, Inc. (MGEN): $1.75; -14%.

Evelo Biosciences, Inc. (EVLO): $5.87; -13%.

89bio, Inc. (ETNB): $26.72; -12%.

Cortexyme, Inc. (CRTX): $46.99; -9%.

Cerecor Inc. (CERC): $3.95; -9%.

Pipeline updates below:

Pipeline Database Updates

Drug Stage Catalyst Market Cap

AIMT – Aimmune Therapeutics Inc.
PALFORZIA - AR101
Peanut Allergy

Approved FDA approval announced January 31, 2020.
$1.7 billion

ARQT – Arcutis Biotherapeutics Inc.
ARQ-151
Plaque psoriasis

Phase 3 Phase 3 data due 1H 2021.
$1.1 billion

ARQT – Arcutis Biotherapeutics Inc.
ARQ-151
Atopic dermatitis

Phase 2b Phase 2b trial to be initiated 2H 2020 with data due 2H 2021.
$1.1 billion

ARQT – Arcutis Biotherapeutics Inc.
ARQ-154
Seborrheic dermatitis

Phase 2 Phase 2 data due 2H 2020.
$1.1 billion

ARQT – Arcutis Biotherapeutics Inc.
ARQ-154
Scalp psoriasis

Phase 2b Phase 2b data due 4Q 2020/ 1Q 2021.
$1.1 billion