Chimerix (NASDAQ:CMRX) shares rallied to close up 69% to $8.42 on news it has acquired Oncoceutics, Inc., a privately-held, clinical-stage biotechnology company. Oncoceutics’ lead product candidate, ONC201, is currently in a pivotal Phase 2 trial for recurrent H3 K27M-mutant glioma with data due later this year. Chimerix will pay Oncoceutics shareholders $78m, of which $39m is payable in Chimerix stock and $39m in cash.
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shares closed Friday down 51% to $82.29. Investors sold down shares in response to data released late-Thursday from its Phase 2 trial of SRP-9001 (Study 102) in patients with Duchenne muscular dystrophy (DMD). The trial did not meet the primary functional endpoint of a significant increase in NSAA total score (a muscle function test score) compared to placebo (P=0.37).
Solid Biosciences Inc. (NASDAQ:SLDB), which is also developing treatments for DMD, saw its shares also sell off on the news, closing down 21% to $6.70.
Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) shares closed up 22% to $10.31, adding to Thursday’s gain of 26%. The company released data from the run-in cohort of the Phase 3 TRANQUILITY clinical trial in patients with dry eye disease. The main cohort of the Tranquility trial is expected to commence enrolment next month with data from the trial due in the second half of 2021.
Neoleukin Therapeutics, Inc., (NASDAQ:NLTX) announced that the FDA issued a clinical hold for its Phase 1 Investigational New Drug (IND) Application of NL-201. The FDA noted that the company needs to develop a new assay that measures the amount of protein being administered and to accurately deliver the intended dose of NL-201. Shares fell 11% to $14.05.
KemPharm, Inc. (NASDAQ:KMPH) announced a public offering of 7,692,307 shares of its common stock with attached warrants to purchase a further 7,692,307 shares at a combined public offering price of $6.50 for gross proceeds of $50m. Shares closed down 32% to $5.60.
-
Major price movers (stocks priced > $1.00, volume > 50k listed on NASDAQ/NYSE):
Refer to the BioPharmCatalyst Biotech Stocks page for Top 10 Gainers/Losers/Unusual Volume:
ADVANCERS:
Jaguar Health, Inc. (JAGX): $4.00; +49%.
Merus N.V. (MRUS): $20.73; +28%.
Dyne Therapeutics, Inc. (DYN): $27.13; +17%.
Seneca Biopharma, Inc. (SNCA): $1.24; +16%.
Alimera Sciences, Inc. (ALIM): $5.80; +16%.
DECLINERS:
Cerecor Inc. (CERC): $2.50; -14%.
Endo International plc (ENDP): $7.06; -11%.
Larimar Therapeutics, Inc. (LRMR): $19.15; -10%.
BioDelivery Sciences International, Inc. (BDSI): $4.49; -8%.
Anika Therapeutics, Inc. (ANIK): $42.86; -7%.
Pipeline updates below: