BPC January 28 update

Biotech week in Review including IPO round up; Upcoming Biotech Stock Catalysts as of January 30, 2017

Weekly watchlist

The big price mover among stocks tracked at BioPharmCatalyst over the latest week was nano-cap Pulmatrix Inc (NASDAQ:PULM). Shares of the company almost tripled this week, closing up 193% to $3.37 as traders squeezed out those holding short positions. Pulmatrix will be the top of many day trading stock watch lists for both short and long opportunities during the upcoming week.

On January 11, 2017, when Pulmatrix was trading well below $1, the company was notified by Nasdaq that its Market Value of Publicly Held Shares (MVPHS) was below the minimum required of $5m. To regain compliance, the MVPHS must close at $5m or more for a minimum of 10 consecutive business days so no doubt the company is more than keen to keep the value above this level.

On the catalyst front, Novan, Inc. (NASDAQ:NOVN), which was slated for data released this quarter, announced disappointing data on Friday from its two Phase 3 trials for SB204 in the treatment of acne vulgaris. Shares collapsed by 74% to $4.86 following news that it did not meet all co-primary endpoints in one of its two trials.

In corporate news, Johnson & Johnson (NYSE: JNJ) announced that it will acquire Actelion Ltd. (SIX:ATLN) for $280 per share. On the other end of the market cap spectrum GenVec, Inc. (NASDAQ: GNVC) shares ramped up 45% to $6.57 on Tuesday following news that it will be acquired by Intrexon Corporation (NYSE: XON).

Biotech IPOs were in full force this week. Price movements are noted below:

TICKER

COMPANY

IPO offer price ($)

Current price ($)

Return

ANAB

AnaptysBio

$15

17.53

+17%

OBSV

ObsEva SA

$15

11.68

-22%

JNCE

Jounce Therapeutics

$16

17.25

+8%

Shares of Tenax Therapeutics Inc (NASDAQ:TENX) endured a volatile week with shares plunging 24% at one stage early on Thursday, only to pare back some of its losses later that session and adding 19% on Friday. Traders are clearly awaiting the upcoming Phase 3 data release slated for next week.

Tenax is one of the catalysts on the list of upcoming binary events below:

Upcoming catalysts noted below:

Drug Stage Catalyst

ACOR
CVT-301
OFF episodes of Parkinson’s disease (PD)

Phase 3 Phase 3 data released February 9, 2017 - primary endpoint met.

ACOR
Ampyra

Approved Decision on Inter Partes Review (IPR) expected March 2017. Legal event (non-clinical).

AVIR
Vapendavir - SPIRITUS trial
Human rhinovirus (HRV)

Phase 2b Phase 2b top-line data released February 13, 2017 - primary endpoint not met.

AVIR
BTA585
Respiratory syncytial virus (RSV)

Phase 2a Phase 2a data released February 1, 2017 - primary endpoint not met.

CATB
CAT-1004
Duchenne muscular dystrophy (DMD)

Phase 2 Phase 1/2 Part B top-line data released January 31, 2017 - endpoint not met. Part C data due in 2017, with an interim update in 2Q.

DMTX
DTX101
hemophilia B

Phase 1/2 Phase 1/2 initial data released January 31, 2017.

FGEN
Roxadustat FG-4592
Anemia in chronic kidney disease

Phase 3 Phase 3 data from China trial released January 30, 2017. Primary endpoints met.

NKTR
NKTR-181
Lower back pain

Phase 3 Data due March 2017.

TENX
Levosimendan
Reduce the incidence of low cardiac output syndrome during cardiac surgery

Phase 3 Phase 3 top line data released January 31, 2017 - primary endpoints not met.