BPC April 07 update

Akari (AKTX) continues surge north +250% over six days; Catalyst (CBIO) shares tumble on pricing of offering; Merck (MRK) receives CRL for Januvia label expansion

Price and Volume Movers

Shares of Akari Therapeutics (NASDAQ:AKTX) continued their upward march, closing up 27% to $18.50. Shares of the company have surged over 250% during the past six trading days. Phase 2 interim data of its pipeline candidate, Coversin for the treatment of paroxysmal nocturnal hemoglobinuria (PNH), will be presented April 24, 2017 at the company's Research and Development Day.

Merck (NYSE:MRK) announced Friday that the FDA issued a Complete Response Letter (CRL) for the Supplemental New Drug Applications (sNDA) for JANUVIA (sitagliptin), JANUMET(sitagliptin and metformin HCl) and JANUMET XR (sitagliptin and metformin HCl extended-release). Currently approved in patients with Type 2 Diabetes, the company was seeking to include safety data from TECOS (Trial Evaluating Cardiovascular Outcomes with Sitagliptin) in the label.

Catalyst Biosciences, Inc. (NASDAQ:CBIO) shares slumped to close down 26% to $5.42 following the pricing of an underwritten public offering. The offering will be priced at $5 per unit, with each unit consisting of one share of common stock and a five-year warrant to purchase one-half share of common stock with an exercise price of $5.50 per share. Preferred stock were also offered.

Aurinia Pharmaceuticals (NASDAQ:AUPH) shares closed up 7% to $7.05. The company announced after-hours Thursday that only one Phase 3 trial together with the recently completed AURA Phase 2b trial, will be sufficient to support regulatory submissions in the US, Europe and Japan. The Phase 3 AURORA trial will be a global 52-week double-blind, placebo controlled study of approximately 320 patients. 


Other major price movers:

ADVANCERS:

Windtree Therapeutics Inc (NASDAQ:WINT): $1.09; +18%.

Galectin Therapeutics Inc (NASDAQ:GALT): $2.87; +17%.

Conatus Pharmaceuticals Inc (NASDAQ:CNAT): $6.30; +13%.

Biopharmx Corp (NYSEMKT:BPMX): $0.65; +8%.

Dipexium Pharmaceuticals Inc (NASDAQ:DPRX): $1.40; +8%.

DECLINERS:

CorMedix Inc. (NYSEMKT:CRMD): $1.12; -23%.

Bellerophon Therapeutics Inc (NASDAQ:BLPH): $1.32; -10%.

Tokai Pharmaceuticals Inc (NASDAQ:TKAI): $0.67; -9%.

Cellect Biotechnology Ltd. (NASDAQ:APOP): $8.69; -9%.

Alcobra Ltd (NASDAQ:ADHD): $1.12; -8%.


Pipeline updates below:

Pipeline Database Updates

Drug Stage Catalyst

MRK
Januvia (Sitagliptin)
Type 2 Diabetes

CRL CRL issued April 7 2017. sNDA for approved drug requested to include data on cardiovascular effects