Price and Volume Movers
Axovant Sciences (NYSE: AXON) announced that David Hung, MD, has been named Chief Executive Officer of the company, effective April 7, 2017. Hung was the founder, President, and Chief Executive Officer of Medivation through its acquisition by Pfizer for approximately $14 billion in September 2016. Shares rallied in response to the news, closing up 22% to $18.54. The company took advantage of the positive price action by announcing after-hours that it has commenced an underwritten public offering of $100m of its common shares. Shares are currently flat in the after-hours session.
TherapeuticsMD, Inc. (NYSE MKT: TXMD) announced that, on April 7, 2017, the company received a letter from the FDA noting that the agency has identified deficiencies that preclude discussion of labeling and postmarketing requirements/commitments for the review of the New drug application (NDA) for TX-004HR, for the treatment of moderate to severe dyspareunia (pain during intercourse). Shares closed down 19% to $6.20.
OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) shares suffered a double blow Monday following news that its Phase 2 YOSEMITE clinical trial of demcizumab in combination with Abraxane plus gemcitabine in previously untreated patients with metastatic pancreatic cancer, did not meet the primary endpoint of progression-free survival. Shortly after the news the company noted that Bayer Pharma will not exercise its option to license the first-in-class Wnt pathway inhibitors vantictumab and ipafricept. Shares tumbled to close down 37% to $5.55.
Geron Corporation (Nasdaq:GERN) shares closed up 20% to $2.57 following the second internal data reviews of IMerge and IMbark, the clinical trials of imetelstat in lower risk myelodysplastic syndromes (MDS) and relapsed or refractory myelofibrosis (MF), respectively. Development for both programs will continue for the time being with long-term development plans dependent on feedback from the FDA while also assessing available data and other treatment options for MDS and MF. If the green light is given for further development the company expects the Phase 3 part of the IMerge trial to be opened for patient enrollment in 4Q 2017.
Cytori Therapeutics, Inc. (NASDAQ:CYTX) announced that it has received clearance to initiate a pilot clinical trial to evaluate Cytori Cell Therapy in patients with thermal burn injury. While the news was hardly significant, traders sent shares up 26% to close at $1.72. One contributing factor to the price surge was the use of “FDA Approval” in the title of its press release. The company took full advantage of the price action when it announced after hours that it intends to offer and sell shares of its common stock in an underwritten public offering. Shares have retraced all gains to be currently trading down 24% to $1.30 in the after-hours session.
Other major price movers:
Aralez Pharmaceuticals Inc (NASDAQ:ARLZ): $1.86; +16%.
Windtree Therapeutics Inc (NASDAQ:WINT): $1.24; +14%.
Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE): $24.78; +12%.
Bellicum Pharmaceuticals Inc (NASDAQ:BLCM): $13.48; +11%.
Biopharmx Corp (NYSEMKT:BPMX): $0.72; +11%.
Dipexium Pharmaceuticals Inc (NASDAQ:DPRX): $1.25; -11%.
Ritter Pharmaceuticals Inc (NASDAQ:RTTR): $1.04; -9%.
Ampio Pharmaceuticals Inc (NYSEMKT:AMPE): $0.57; -9%.
Infinity Pharmaceuticals Inc. (NASDAQ:INFI): $2.21; -9%.
Nektar Therapeutics (NASDAQ:NKTR): $18.50; -8%.
Full pipeline updates below: