Price and Volume Movers
The US Patent and Trademark Office ruled today that patents awarded to the Broad Institute CRISPR-Cas9 technology will remain. This follows a patent battle between Broad and the University of California over rights to the technology. News of the patent win saw shares of Editas Medicine Inc (NASDAQ:EDIT) close up $29% to $24.30. In 2014, the company formed a license agreement with the Broad Institute to access intellectual property and technology related to the CRISPR/Cas9 genome editing systems. On the other side, shares of Crispr Therapeutics (NASDAQ:CRSP) closed down 8% to $15.90 while shares of Intellia Therapeutics Inc (NASDAQ:NTLA) dropped 9% to $12.50, paring earlier losses in the the early afternoon session. Both companies were founded using CRISPR/Cas9 biology based on research carried out at the University of California.
Acura Pharmaceuticals, Inc. (NASDAQ:ACUR) announced after hours that its shares will begin to trade on the OTCQB Market under the same ticker from February 23, 2017. Shares are currently down 34% to $1.16.
Ardelyx, Inc. (NASDAQ: ARDX) announced that it met the primary endpoint in its Phase 3 trial of tenapanor for the treatment for hyperphosphatemia in patients with end-stage renal disease (ESRD) who are on dialysis. The company noted a 39% diarrhea rate which resulted in 7.8% of patients discontinuing the trial, lower than its previous Phase 2 trial. Shares rose 14% to $13.00.
Auris Medical Holding AG (NASDAQ: EARS) announced the pricing of its previously announced public offering of 10m shares and 10m warrants, with each warrant entitling its holder to purchase 0.70 of a common share (one unit). The offering will be priced at $1 per unit for gross proceeds of $10m. Shares closed down 19% to $0.934.
Celsion Corporation (NASDAQ:CLSN) also announced the pricing of a public offering with expected total gross proceeds of approximately $5m. The offering, priced at $0.23 per share included warrants to purchase 0.75 of a share of common stock, at an exercise price of $0.23 per share. Shares closed down 33% to $0.22.
Evoke Pharma, Inc. (NASDAQ:EVOK) shares spiked at the open and closed up 30% to $3.40 following notice that it has received a letter from FDA exempting its late stage product, Gimoti from a Human Factors (HF) Validation study requirement prior to submission of a New Drug Application (NDA), slated for filing by the end of 2017.
Other major price movers:
Zosano Pharma Corp (NASDAQ:ZSAN): $2.85; +41%.
Novan Inc (NASDAQ:NOVN): $6.44; +34%.
AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO): $0835; +15%.
Dicerna Pharmaceuticals Inc (NASDAQ:DRNA): $3.22; +14%
Novavax, Inc. (NASDAQ:NVAX): $1.62; +14%.
Delcath Systems, Inc.(NASDAQ:DCTH): $0.156; +21%.
Galectin Therapeutics Inc (NASDAQ:GALT): $1.47; -18%.
Bellerophon Therapeutics Inc (NASDAQ:BLPH): $0.90; -12%.
Neothetics Inc (NASDAQ:NEOT): $1.41; -10%.
BioDelivery Sciences International, Inc.(NASDAQ:BDSI): $1.90; -7%.
Full pipeline updates: