BPC January 03 update

Leap Therapeutics LPTX license agreement and offering +53%

Price and Volume Movers

Friday saw a quiet day of newsflow with the holiday season drawing to a close. However, expect news volume to return to normal next week, leading up to the J.P.Morgan Healthcare Conference the week after, regarded as the most important healthcare investment conference of the year. Expect to see a number of pipeline updates from presenting companies.

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Leap Therapeutics, Inc. (Nasdaq: LPTX) shares closed up 53% to $1.61 following its announcement it will receive an upfront payment of $3m following a license agreement with BeiGene, Ltd. (Nasdaq: BGNE) for the development of its pipeline candidate DKN-01, in Asia (excluding Japan), Australia, and New Zealand. Leap also announced a $27 million equity financing with BeiGene, Perceptive Advisors and one other institutional investor. The financing consists of convertible preferred stock, which will be automatically be converted into common stock and pre-funded warrants to purchase shares of common stock, upon shareholder approval. Gross proceeds from the offering are expected to be $27m.

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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:

Cassava Sciences, Inc. (SAVA): $9.65; +34%.

Nymox Pharmaceutical Corporation (NYMX): $2.95; +26%.

BioXcel Therapeutics, Inc. (BTAI): $16.71; +23%.

Outlook Therapeutics, Inc. (OTLK): $1.02; +17%.

Acorda Therapeutics, Inc. (ACOR): $2.27; +16%.

DECLINERS:

Trillium Therapeutics Inc. (TRIL): $1.26; -15%.

Mereo BioPharma Group plc (MREO): $2.81; -12%.

Celyad SA (CYAD): $10.13; -10%.

Abeona Therapeutics Inc. (ABEO): $2.90; -10%.

Aprea Therapeutics, Inc. (APRE): $41.00; -9%.

Pipeline updates below:

Pipeline Database Updates

Drug Stage Catalyst Market Cap

CANF – Can-Fite Biopharma Ltd Sponsored ADR (Israel)
Namodenoson (CF102)
Non-alcoholic steatohepatitis (NASH)

Phase 2 Phase 2 endpoints met - April 7, 2020.
$34.7 million