Galapagos NV NASDAQ:GLPG) shares fell 18% to $89.90 on news their Phase 3 ISABELA trial with Gilead Sciences (NASDAQ:GILD) of ziritaxestat in patients with idiopathic pulmonary fibrosis has been discontinued due to insufficient efficacy shown following a review by the Independent Data Monitoring Committee (IDMC).
Bio-Path Holdings, Inc., (NASDAQ:BPTH) shares closed up 126% to $11.77 following its announcement that it received a patent for its platform technology for DNAbilize, its RNAi nanoparticle drugs.
Cassava Sciences, Inc. (NASDAQ:SAVA) shares fell 14% to $49.29 on news of a registered direct offering of 4,081,633 shares of its common stock, at a purchase price per share of $49, for gross proceeds of $200m.
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Numerous other companies continued to raise cash in the form of direct and public offerings of stock, taking advantage of the current speculative environment. Brief details below:
Iterum Therapeutics plc (NASDAQ:ITRM) - direct offering of 17.5m shares at $2 per share for gross proceeds of $35m.
Assertio Holdings, Inc. (NASDAQ:ASRT) - direct offering of 35m shares at a price of $0.98 per share, for gross proceeds of $34.3m.
Stealth BioTherapeutics Corp (NASDAQ:MITO) – direct offering of 2.339m American Depositary Shares ("ADSs") at $2 per ADS, for gross proceeds of $4.7m.
Travere Therapeutics, Inc. (NASDAQ:TVTX) - public offering of $150m of common stock.
TherapeuticsMD, Inc. (NASDAQ:TXMD) - public offering of common stock.
Onconova Therapeutics, Inc. (NASDAQ:ONTX) - public offering of common stock.
Applied Therapeutics, Inc. (NASDAQ:APLT) - public offering of 3m shares of common stock.
Kadmon Holdings, Inc. (NASDAQ:KDMN) – private offering of $150m of convertible senior notes.
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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:
Anchiano Therapeutics Ltd. (ANCN): $7.96; +184%.
Zynerba Pharmaceuticals, Inc. (ZYNE): $8.75; +47%.
Intec Pharma Ltd (NTEC): $7.85; +33%.
Pulmatrix, Inc. (PULM): $2.65; +33%.
PLx Pharma Inc. (PLXP): $8.75; +27%.
DECLINERS:
Panbela Therapeutics Inc. (PBLA): $6.02; -27%.
Enlivex Therapeutics Ltd. (ENLV): $19.18; -20%.
Ocugen, Inc. (OCGN): $10.25; -19%.
PDS Biotechnology Corporation (PDSB): $5.61; -18%.
aTyr Pharma, Inc. (LIFE): $6.21; -16%.
Pipeline updates below: