BPC November 18 update

Dicerna DRNA Acquisition by NVO; Cardiff CRDF Equity investment from PFE

Pre-Market Updates

Dicerna Pharmaceuticals, Inc. (NASDAQ: DRNA) announced that it has entered into a definitive agreement with Novo Nordisk under which Novo Nordisk will acquire Dicerna for $38.25 per share in cash, which represents a total equity value of $3.3 billion and a premium of 80% to Dicerna's closing price on November 17, 2021.

Cardiff Oncology, Inc. (NASDAQ: CRDF) announced that Pfizer Inc. (NYSE: PFE) made a $15 million equity investment in the company as part of the Pfizer Breakthrough Growth Initiative. Pfizer purchased 2.4 million shares of Cardiff Oncology's common stock at $6.22 per share.

AstraZeneca (NASDAQ: AZN) released new data from its AZD7442 COVID-19 PROVENT prevention and TACKLE outpatient treatment Phase 3 trials, noting that both showed robust efficacy from a one-time intramuscular (IM) dose of the long-acting antibody (LAAB) combination.

Gilead Sciences, Inc. (NASDAQ: GILD) and Arcus Biosciences, Inc. (NYSE: RCUS) announced that Gilead exercised its options to three programs in Arcus's clinical-stage portfolio, including both anti-TIGIT molecules, domvanalimab and AB308, as well as etrumadenant and quemliclustat. The parties expect the transaction to close by year-end, and Arcus will receive option payments totaling $725 million.

Heron Therapeutics, Inc. (NASDAQ: HRTX) announced the submission of its New Drug Application (NDA) to the FDA for HTX-019 (aprepitant) to treat postoperative nausea and vomiting (PONV) in adults.

BridgeBio Pharma, Inc. (NASDAQ: BBIO) announced that it has executed a definitive credit facility agreement with a syndicate of lenders for up to $750.0 million in financing. This facility, combined with its existing cash balance as of September 30, 2021, provides access to over $1.2 billion.

Pre-Market Advancers

CompanyPriceChange
PTN
Palatin Technologies Inc.
$0.79+0.2324  +41.68%
STSA
Satsuma Pharmaceuticals Inc.
$5.96+0.71  +13.52%
BYSI
BeyondSpring Inc.
$16.25+1.9  +13.24%
ACHL
Achilles Therapeutics plc
$5.39+0.55  +11.36%
OGEN
Oragenics Inc.
$0.60+0.0488  +8.87%
DRMA
Dermata Therapeutics Inc.
$2.93+0.23  +8.52%
UNCY
Unicycive Therapeutics Inc.
$3.16+0.24  +8.22%
WDNA
WisdomTree BioRevolution Fund
$26.00+1.8493  +7.66%
LOGC
LogicBio Therapeutics Inc.
$3.15+0.21  +7.14%
URGN
UroGen Pharma Ltd.
$13.00+0.86  +7.08%

Pre-Market Decliners

CompanyPriceChange
NAVB
Navidea Biopharmaceuticals Inc.
$1.15-0.15  -11.54%
IKT
Inhibikase Therapeutics Inc.
$1.91-0.15  -7.28%
PSTI
Pluristem Therapeutics Inc.
$2.52-0.17  -6.32%
BPTS
Biophytis SA
$5.40-0.36  -6.25%
APVO
Aptevo Therapeutics Inc.
$12.26-0.81  -6.20%
ANGN
Angion Biomedica Corp.
$3.54-0.2099  -5.60%
PBLA
Panbela Therapeutics Inc.
$1.86-0.11  -5.58%
VLON
Vallon Pharmaceuticals Inc.
$5.05-0.26  -4.90%
RVPH
Reviva Pharmaceuticals Holdings Inc.
$3.60-0.18  -4.76%
CRNX
Crinetics Pharmaceuticals Inc.
$23.25-1.15  -4.71%