BPC February 13 update

​XBiotech XBIT shares fall on Dutch auction update; Revolution RVMD IPO listing

Price and Volume Movers

XBiotech Inc. (NASDAQ: XBIT) shares closed down 24% to $16.53 following the release of preliminary results of its “modified Dutch auction” tender offer. The company noted that investors will only be able to tender 31.9% of their shares. The news follows its announcement in January that it would return $420m via a Dutch auction from proceeds of the sale of its drug bermekimab to Johnson and Johnson. A total of 41,164,725 common shares were tendered for by investors. However, the company announced today this amount would be prorated so that investors receive payment for only 31.9% of shares tendered.

Revolution Medicines Inc. (NASDAQ: RVMD) shares closed at $28.90, 70% above its IPO listing price today of $17 per share. The company sold 14m shares to raise $238m. Revolution has partnerships with Amgen and Sanofi as part of its early stage pre-clinical and Phase 1 oncology portfolio.

Inovio Pharmaceuticals, Inc. (NASDAQ:INO) shares closed up 16% to $3.86. No news was released by the company, which suggests the move was on the back of an increase in the number of coronavirus cases in China.

AVROBIO, Inc. (NASDAQ:AVRO) announced the pricing of 4,350,000 shares at a public offering price of $23 per share for gross proceeds from the underwritten public offering of $100m. Shares closed down 15% to $23.00.

Catalyst Biosciences, Inc. (NASDAQ:CBIO) shares closed down 19% to $6.50. The company announced the pricing of 4,615,385 shares of its common stock, at a price of $6.50 for proceeds of $30m.

Deciphera Pharmaceuticals, Inc. (NASDAQ:DCPH) shares also fell, closing down 16% to $58.44, following news released after hours Wednesday that it intends to raise $250m in a public offering of its shares.

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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:

Genprex, Inc. (GNPX): $2.74; +51%.

BioXcel Therapeutics, Inc. (BTAI): $23.85; +26%.

Brainstorm Cell Therapeutics Inc. (BCLI): $5.40; +14%.

Sol-Gel Technologies Ltd. (SLGL): $14.00; +14%.

Surface Oncology, Inc. (SURF): $3.36; +12%.

DECLINERS:

NeuroBo Pharmaceuticals, Inc. (NRBO): $23.50; -22%.

InVivo Therapeutics Holdings Corp. (NVIV): $7.16; -12%.

TrovaGene, Inc. (TROV): $1.94; -11%.

Evelo Biosciences, Inc. (EVLO): $4.39; -11%.

IMV Inc. (IMV): $3.90; -10%.

Pipeline updates below:

Pipeline Database Updates

Drug Stage Catalyst Market Cap

AGIO – Agios Pharmaceuticals Inc.
AG-348 - Mitapivat (ACTIVATE)
Pyruvate Kinase Deficiency

Phase 3 Phase 3 data due by the end of 2020.
$3.4 billion

ANVS – Annovis Bio Inc.
ANVS401
Alzheimer’s disease

Phase 2a Phase 2a interim data due 4Q 2020.
$35.1 million

ARQT – Arcutis Biotherapeutics Inc.
ARQ-151
Plaque psoriasis

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

BCEL – Atreca Inc.
ATRC-101
Solid tumors

Phase 1b Phase 1b initiation of dosing announced February 13, 2020. Initial data due 2H 2020.
$598.1 million

BMY – Bristol-Myers Squibb Company
liso-cel (JCAR017) - TRANSCEND NHL-001
Relapsed or refractory (R/R) large B-cell lymphoma

PDUFA priority review PDUFA date under priority review August 17, 2020.
$150 billion

CRTX – Cortexyme Inc.
COR388 - GAIN
Alzheimer’s disease

Phase 2/3 Phase 2/3 interim analysis to occur 4Q 2020. Final data due 4Q 2021.
$1.6 billion

FBIO – Fortress Biotech Inc.
Intravenous (IV) tramadol
Postoperative pain following bunionectomy surgery

PDUFA PDUFA date October 10, 2020.
$181.9 million

GNCA – Genocea Biosciences Inc.
GEN-009 vaccine
Various cancers

Phase 1/2 Phase 1/2 data due 2Q/3Q 2020
$58.3 million

KPTI – Karyopharm Therapeutics Inc.
Selinexor - BOSTON
Multiple myeloma

Phase 3 Phase 3 data due by the end of April 2020.
$928.7 million

OVID – Ovid Therapeutics Inc.
OV101 (ROCKET)
Fragile X syndrome

Phase 2 Phase 2 top-line data due early 2Q 2020.
$165.4 million

RGLS – Regulus Therapeutics Inc.
RGLS4326
Autosomal dominant polycystic kidney disease (ADPKD)

Phase 1 Phase 1 initiation of dosing of the second cohort announced February 13, 2020. To be completed mid-2020 with data thereafter.
$16.7 million

SCYX – SCYNEXIS Inc.
SCY-078 - oral ibrexafungerp - VANISH 306
Vulvovaginal candidiasis (VVC)

Phase 3 Phase 3 data due early 2Q 2020.
$102.1 million

SGEN – Seattle Genetics Inc.
(Tucatinib ONT-380) + Herceptin and Xeloda - HER2CLIMB trial
HER2+ Metastatic Breast Cancer (MBC)

PDUFA priority review PDUFA date August 20, 2020 under priority review.
$20 billion

SLGL – Sol-Gel Technologies Ltd.
VERED (Epsolay)
Papulopustular rosacea

NDA Filing NDA filing due 2Q 2020.
$228.7 million