Price and Volume Movers
Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) shares have surged over 140% in the after-hours session following its announcement that it has entered into a license agreement for emricasan with Novartis (NYSE:NVS). Conatus will receive $50m upfront in addition to milestone payments and double digit royalties on any sales of emricasan. In addition, Novartis will pay 50% of its Phase 2b emricasan development costs. Novartis will assume full responsibility for emricasan's Phase 3 development.
Clovis Oncology, Inc. (NASDAQ:CLVS) today announced that the FDA approved Rubraca (rucaparib) tablets as monotherapy for the treatment of patients with deleterious BRCA mutation (germline and/or somatic) associated advanced ovarian cancer. The original PDUFA date under priority review was February 23, 2017. Shares closed up 9% on 7x average volume.
Loxo Oncology Inc (NASDAQ:LOXO) shares surged to close up 26% on 17x average volume following a pipeline update today for larotrectinib (LOXO-101). The company noted that it is due to report top-line data from its Phase 2 basket trial in 2H 2017 and expects to submit a New Drug Application (NDA) in late 2017 or early 2018.
Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) closed up 17% on 17x average volume following news that the company was granted Breakthrough Therapy designation to TNX-102 SL for the treatment of posttraumatic stress disorder (PTSD). It is expected to initiate Phase 3 trials in 1Q 2017.
Other major price movers (10%+):
MannKind Corporation (NASDAQ:MNKD): +28%; 3x average volume.
Zosano Pharma Corp (NASDAQ:ZSAN): +20%; 4x average volume.
Pulmatrix Inc (NASDAQ:PULM): +19%; 10x average volume.
Dipexium Pharmaceuticals Inc (NASDAQ:DPRX): +19%.
Neuralstem, Inc. (NASDAQ:CUR): +16%; 7x average volume.
BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX): +11%; 5x average volume.
Catalyst Biosciences Inc (NASDAQ:CBIO): -16%; 1.5x average volume.
Prima BioMed Ltd (ADR) (NASDAQ:PBMD): -14%; 9x average volume.
aTyr Pharma Inc (NASDAQ:LIFE): -10%; 2x average volume.
Full pipeline updates below: