BPC January 13 update

Synlogic SYBX rallies on price target raise +33%; Offerings ALDX EVOK

Price and Volume Movers

Acorda Therapeutics, Inc. (Nasdaq: ACOR) shares closed up 44% to $6.12 on news it will sell its Inbrija manufacturing operations to Catalent for $80m in cash. Catalent will manufacture Inbrija for Acorda. The company expects that combined savings from the sale, restructuring and other operating cost reductions will reduce annual operating expenses by approximately $40m.

Synlogic, Inc. (NASDAQ:SYBX) shares rallied to close up 33% to $3.18 following an analyst update from Chardan Capital. The company maintained its Buy rating and increased its price target from $5 to $10.

Evoke Pharma, Inc. (NASDAQ:EVOK) announced after hours it intends to sell shares of its common stock in an underwritten public offering. Shares are trading down 3% to $2.65.

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) also announced after hours that it intends to sell shares of its common stock in an underwritten public offering.

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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:

Cassava Sciences, Inc. (SAVA): $11.45; +40%.

Genocea Biosciences, Inc. (GNCA): $3.07; +25%.

NuCana plc (NCNA): $6.40; +20%.

Cullinan Management, Inc. (CGEM): $35.38; +20%.

Renalytix AI plc (RNLX): $20.50; +19%.

DECLINERS:

Provention Bio, Inc. (PRVB): $16.66; -14%.

Liminal BioSciences Inc. (LMNL): $5.05; -13%.

Forward Pharma A/S (FWP): $6.66; -13%.

Esperion Therapeutics, Inc. (ESPR): $26.91; -11%.

Lantern Pharma Inc. (LTRN): $15.55; -10%.

Pipeline updates below:

Pipeline Database Updates

Drug Stage Catalyst Market Cap

ALXN – Alexion Pharmaceuticals Inc.
ULTOMIRIS (ravulizumab-cwvz)
COVID-19 Coronavirus

Phase 3 Independent data monitoring committee recommended pausing enrollment due to lack of efficacy in pre-specified interim analysis - January 13, 2021.
$34.5 billion

ARQT – Arcutis Biotherapeutics Inc.
ARQ-151
Atopic dermatitis

Phase 3 Phase 3 trial initiation announced January 13, 2021 with top-line data due 2H 2022.
$1.2 billion

CYTK – Cytokinetics Incorporated
CK-3773274 - Redwood-HCM
Hypertrophic cardiomyopathy (HCM)

Phase 2 Phase 2 Cohort 2 dosing has commenced - January 13, 2021. Full data due mid-2021.
$1.4 billion

ELOX – Eloxx Pharmaceuticals Inc.
ELX-02
Cystic fibrosis

Phase 2 Phase 2 data due 1H 2021.
$157.8 million

JNCE – Jounce Therapeutics Inc.
JTX-8064
Solid tumors

Phase 1 Phase 1 trial initiation announced January 13, 2021.
$478.2 million

KTRA – Kintara Therapeutics Inc.
VAL-083 (GBM AGILE)
Glioblastoma

Phase 2/3 Phase 2/3 initiation of recruitment announced January 13, 2021.
$44.9 million