BPC February 19 update

Evolus EOLS reaches settlement with AbbVie ABBV for wrinkles treatment +72%

Price and Volume Movers

Vaccinex, Inc. (NASDAQ:VCNX) announced deals with two “prominent” pharmaceutical companies using ActivMAb, its antibody discovery and novel viral display platform. Their press release was light on detail, however, with neither the names of the other partnered companies, nor the financial terms of the deals disclosed. Despite this, shares closed up 70% to $4.87.

Novavax, Inc. (NASDAQ:NVAX) shares closed up 5% to $277.88. The company announced Thursday a Memorandum of Understanding (MOU) with Gavi, the Vaccine Alliance, to provide 1.1b doses of its COVID-19 vaccine candidate, for the COVAX Facility.

Evolus (NASDAQ:EOLS) shares closed up 72% to $12.29 on news of a settlement agreement with AbbVie (NYSE:ABBV) and Medytox to resolve outstanding litigation related to Jeuveau, a treatment for wrinkles approved for Evolus, a competitor of Abbvie’s Botox. AbbVie will grant a license to Evolus to continue to commercialize Jeuveau in return of milestone and royalty payments from Evolus and the issuance of Evolus common stock to Medytox. The litigation was previously initiated on claims Evolus had stolen trade secrets from Abbvie's South Korean partner to manufacture Jeuveau.

Cleveland BioLabs, Inc. (NASDAQ:CBLI) announced an intra-day registered direct offering of 2m shares at a $7 per share for gross proceeds of $14m. Shares fell 27% to $6.93.

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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:

Citius Pharmaceuticals, Inc. (CTXR): $2.06; +32%.

ObsEva SA (OBSV): $5.02; +26%.

Applied Molecular Transport Inc. (AMTI): $64.47; +19%.

VistaGen Therapeutics, Inc. (VTGN): $2.96; +19%.

Akari Therapeutics, Plc (AKTX): $3.88; +17%.

DECLINERS:

Emergent BioSolutions Inc. (EBS): $103.04; -12%.

Timber Pharmaceuticals, Inc. (TMBR): $2.14; -11%.

Benitec Biopharma Inc. (BNTC): $4.34; -11%.

OPKO Health, Inc. (OPK): $4.81; -10%.

Longeveron Inc. (LGVN): $6.16; -10%.

Pipeline updates below:

Pipeline Database Updates

Drug Stage Catalyst Market Cap

BBIO – BridgeBio Pharma Inc.
BBP-418
Limb Girdle Muscular Dystrophy Type 2i (LGMD2i)

Phase 2 Phase 2 initiation of dosing announced February 19, 2021.
$402 million

CLNN – Clene Inc.
CNM-Au8 (VISIONARY-MS)
Multiple Sclerosis

Phase 2 Phase 2 top-line data due 1H 2022.
$819.1 million

CLNN – Clene Inc.
CNM-Au8 (REPAIR-MS)
Multiple Sclerosis

Phase 2 Phase 2 top-line data due 2H 2021.
$819.1 million

INCY – Incyte Corporation
Ruxolitinib
Atopic dermatitis

PDUFA priority review PDUFA date under priority review June 21, 2021.
$17.3 billion

INSM – Insmed Inc.
Treprostinil Palmitil Inhalation Powder (TPIP)
Pulmonary arterial hypertension (PAH)

Phase 1 Phase 1 top-line data released February 19, 2021 - generally safe and well tolerated.
$4 billion