BPC June 02 update

Constellation CNST +66% to be acquired by ​MorphoSys MOR -13%

Price and Volume Movers

MorphoSys AG (NASDAQ:MOR) announced it will acquire Constellation Pharmaceuticals, Inc., (NASDAQ:CNST) for $34.00 per share in cash, which represents a total equity value of $1.7 billion. Constellation shares closed up 66% to $33.61 on the news, while MorphoSys shares fell 13% to $19.25.

Novavax, Inc. (NASDAQ: NVAX) shares closed up 18% to $171.30. Investors are awaiting imminent data from their Phase 3 COVID-19 vaccine trial. The company announced in their earnings release last month that data would be released this quarter.

Scynexis, Inc. (NASDAQ: SCYX) announced that the FDA approved BREXAFEMME (ibrexafungerp tablets), for oral use in patients with vulvovaginal candidiasis (VVC), also known as vaginal yeast infection. Shares, however, sold off on the news, closing down 15% to $8.48.

Soleno Therapeutics, Inc. (NASDAQ:SLNO) shares closed up 29% to $1.32 following news the FDA has granted Orphan Drug Designation for its DCCR (diazoxide choline) tablets for the treatment of Glycogen Storage Disease Type 1a (GSD 1a), or von Gierke disease.

Protalix BioTherapeutics (NYSE:PLX) shares closed down 17% to $2.46. The company reported data from their Phase 3 BALANCE trial of pegunigalsidase alfa (PRX–102) for the proposed treatment of Fabry disease. The initial data showed changes in eGFR when compared with agalsidase beta (Fabrazyme), were below the non-inferiority margin pre-specified for the interim analysis in the intention to treat population. eGFR, or Estimated glomerular filtration rate, measures the level of kidney function. The company also noted that one patient discontinued due a related treatment emergent adverse event. Final data are due in 2Q 2022. Based on these data and from previous trials, the company intends to submit a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) for the review of PRX–102.

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Other 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:

BriaCell Therapeutics Corp. (BCTX): $6.18; +94%. 

Stealth BioTherapeutics Corp (MITO): $1.77; +22%.

Brooklyn ImmunoTherapeutics, Inc. (BTX): $20.30; +22%.

Kronos Bio, Inc. (KRON): $27.29; +12%.

Aerpio Pharmaceuticals, Inc. (ARPO): $1.90; +12%.

DECLINERS:

Progenity, Inc. (PROG): $2.19; -23%.

Orphazyme A/S (ORPH): $4.82; -14%.

Inhibrx, Inc. (INBX): $19.45; -12%.

Tarsus Pharmaceuticals, Inc. (TARS): $32.35; -9%.

Phathom Pharmaceuticals, Inc. (PHAT): $32.66; -9%.

Pipeline updates below:

Pipeline Database Updates

Drug Price Stage Catalyst Market Cap

ABUS – Arbutus Biopharma Corporation
AB-729
Hepatitis B (HBV)

$3.10
-0.05  -2%
Phase 1 Phase 1a/b data due at EASL meeting June 26, 2021.
$302.4 million

ACIU – AC Immune SA
ACI-24
Alzheimer’s disease (AD)

$7.87
-0.24  -3%
Phase 2 Phase 2 interim analysis June 2, 2021. Good safety confirmed.
$571.8 million

CLSD – Clearside Biomedical Inc.
XIPERE (Suprachoroidal CLS-TA)
Macular edema associated with uveitis

$4.54
+0.03  +1%
PDUFA CRL received October 18, 2019. New PDUFA date October 30, 2021.
$261.4 million

KZR – Kezar Life Sciences Inc.
KZR-616 (MISSION)
Lupus

$5.33
-0.01  -0%
Phase 2 Phase 2 interim data due late-2021 and top-line data are expected 1H 2022. Phase 1b final data presented at EULAR June 2, 2021.
$256.3 million

LIXT – Lixte Biotechnology Holdings Inc.
LB-100
Small Cell Lung Cancer

$2.89
-0.01  -0%
Phase 1 Phase 1 commencement of enrollment announced June 2, 2021.
$39.5 million

LOGC – LogicBio Therapeutics Inc.
LB-001 - (SUNRISE)
Methylmalonic Acidemia (MMA)

$4.03
-0.14  -3%
Phase 1/2 Phase 1/2 commencement of dosing announced June 2, 2021. Interim data due YE 2021.
$129.6 million

LQDA – Liquidia Corporation
LIQ861
Pulmonary arterial hypertension

$2.64
+0.11  +4%
PDUFA CRL announced November 25, 2020. New PDUFA date November 7, 2021.
$137.2 million

MTCR – Metacrine Inc.
MET409 with JARDIANCE (empagliflozin)
Type 2 Diabetes and Nonalcoholic steatohepatitis (NASH)

$4.00
-0.24  -6%
Phase 2a Phase 2 top-line data due 4Q 2021.
$105.7 million

PLX – Protalix BioTherapeutics Inc. (DE)
Pegunigalsidase alfa (PRX-102) - BALANCE
Fabry disease

$1.88
-0.05  -3%
Phase 3 Phase 3 interim data released June 2, 2021. Change in eGFR was below pre-specified non-inferiority margin in the ITT (intend to treat) group when compared with Fabrazyme. Final data due 2Q 2022. MAA filing due.
$85.3 million

SCYX – SCYNEXIS Inc.
BREXAFEMME (ibrexafungerp)
Vulvovaginal candidiasis (VVC)

$7.22
+0.10  +1%
Approved FDA approval announced June 2, 2021.
$149 million

TVTX – Travere Therapeutics Inc.
Sparsentan (PROTECT)
IgA nephropathy

$14.90
-0.11  -1%
Phase 3 Phase 3 data due August 2021.
$900.8 million