Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) announced after hours that the U.S. government will purchase additional supply of the casirivimab and imdevimab antibody cocktail for use in non-hospitalized COVID-19 patients. Under the new agreement, the government will purchase all finished doses, up to 1.25m, of antibody cocktail delivered by June 30, 2021, in addition to the current supply of doses to treat 300,000 people under a previous agreement. Shares are trading up 3% to $519.50 after hours.
AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) shares spiked in late-morning trading to close up 61% to $2.19. Traders seem to have reacted to an article published by Tipranks published at the same time as the spike which suggested upside potential of the stock.
La Jolla Pharmaceutical Company (NASDAQ:LJPC) shares closed up 28% to $5.04 following news of a licensing agreement with Paion AG for Giapreza (angiotensin II) and Xerava (eravacycline) in the European Economic Area, the United Kingdom and Switzerland. La Jolla receives an upfront payment of $22.5m and potential commercial milestone payments of up to $109.5m and double-digit tiered royalty payments based on net sales.
Affimed N.V. (NASDAQ:AFMD) shares are trading down 6% after hours to $6.25 on news it has commenced an underwritten public offering of its common shares.
Provention Bio, Inc. (NASDAQ:PRVB) also announced after hours it has commenced an underwritten public offering of 6m shares of its common stock. Shares, which closed up 8% during normal trading hours, have pulled back 8% after hours to $17.85.
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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:
NovaBay Pharmaceuticals, Inc. (NBY): $1.05; +30%.
Liminal BioSciences Inc. (LMNL): $5.81; +27%.
iBio, Inc. (IBIO): $1.58+; +25%
Tyme Technologies, Inc. (TYME): $2.15; +25%.
Merus N.V. (MRUS): $24.06; +20%.
DECLINERS:
Black Diamond Therapeutics, Inc. (BDTX): $29.61; -15%.
Diffusion Pharmaceuticals Inc. (DFFN): $1.11; -15%.
RedHill Biopharma Ltd. (RDHL): $7.52; -14%.
Regulus Therapeutics Inc. (RGLS): $1.17; -13%.
Ocugen, Inc. (OCGN): $2.23; -10%.
Pipeline updates below: