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The Daily Biotech Pulse: J&J Settles Ohio Opioid Lawsuit, Teligent Explores Options For Certain Assets, Novartis Reports Cosentyx Data

Courtesy of Benzinga

The Daily Biotech Pulse: J&J Settles Ohio Opioid Lawsuit, Teligent Explores Options For Certain Assets, Novartis Reports Cosentyx Data

Here’s a roundup of top developments in the biotech space over the last 24 hours.

None of the NYSE/Nasdaq-listed biotech stocks hit 52-week highs on Oct. 1.

Down In The Dumps

(Biotech stocks hitting 52-week lows on Oct. 1)

  • 10X Genomics Inc (NASDAQ: TXG)
  • ABIOMED, Inc. (NASDAQ: ABMD)
  • Adamas Pharmaceuticals Inc (NASDAQ: ADMS)
  • Adamis Pharmaceuticals Corp (NASDAQ: ADMP)
  • Adaptive Biotechnologies Corp (NASDAQ: ADPT)
  • Aduro BioTech Inc (NASDAQ: ADRO)
  • Akcea Therapeutics Inc (NASDAQ: AKCA)
  • Albireo Pharma Inc (NASDAQ: ALBO)
  • Alkermes Plc (NASDAQ: ALKS)
  • AnaptysBio Inc (NASDAQ: ANAB)(reported Phase 2 readout for drug to treat generalized pustular psoriasis)
  • Artelo Biosciences Inc (NASDAQ: ARTL)
  • Assembly Biosciences Inc (NASDAQ: ASMB)
  • Assertio Therapeutics Inc (NASDAQ: ASRT)
  • AxoGen, Inc Common Stock (NASDAQ: AXGN)
  • BioMarin Pharmaceutical Inc. (NASDAQ: BMRN)
  • bluebird bio Inc . (NASDAQ: BLUE)(Stifel initiated the shares at a Hold)
  • Catalyst Biosciences Inc (NASDAQ: CBIO)
  • Concert Pharmaceuticals Inc (NASDAQ: CNCE)
  • Corbus Pharmaceuticals Holdings Inc (NASDAQ: CRBP)
  • Corvus Pharmaceuticals Inc (NASDAQ: CRVS)
  • Dermira Inc (NASDAQ: DERM)
  • Eloxx Pharmaceuticals Inc (NASDAQ: ELOX)
  • Five Prime Therapeutics Inc (NASDAQ: FPRX)
  • Gemphire Therapeutics Inc (NASDAQ: GEMP)
  • Genprex Inc (NASDAQ: GNPX)
  • Gossamer Bio Inc (NASDAQ: GOSS)
  • Inovio Pharmaceuticals Inc (NASDAQ: INO)
  • Inflarx NV (NASDAQ: IFRX)
  • Intra-Cellular Therapies Inc (NASDAQ: ITCI)
  • Karuna Therapeutics Inc (NASDAQ: KRTX)
  • KemPharm Inc (NASDAQ: KMPH)
  • Miragen Therapeutics Inc (NASDAQ: MGEN)
  • Myovant Sciences Ltd (NYSE: MYOV)
  • Neuronetics Inc (NASDAQ: STIM)
  • NewLink Genetics Corp (NASDAQ: NLNK)(announced a merger agreement with Lumos)
  • Obseva SA (NASDAQ: OBSV)
  • Oncolytics Biotech, Inc. (NASDAQ: ONCY)
  • PDL BioPharma Inc (NASDAQ: PDLI)
  • PDS Biotechnology Corp (NASDAQ: PDSB)( announced decision to no longer start a Phase 2 study of PDS0101 monotherapy in CIN2/3)
  • Precision BioSciences Inc (NASDAQ: DTIL)
  • Qiagen NV (NYSE: QGEN)
  • Retrophin Inc (NASDAQ: RTRX)
  • Rexahn Pharmaceuticals, Inc. (NASDAQ: REXN)
  • Surface Oncology Inc (NASDAQ: SURF)
  • Titan Medical Inc. (NASDAQ: TMDI)
  • Trinity Biotech plc (NASDAQ: TRIB)
  • Taro Pharmaceutical Industries Ltd. (NYSE: TARO)
  • Unum Therapeutics Inc (NASDAQ: UMRX)
  • TrovaGene Inc (NASDAQ: TROV)(reacted to ESMO 2019 presentation)
  • Urogen Pharma Ltd (NASDAQ: URGN)
  • Xenetic Biosciences Inc (NASDAQ: XBIO)
  • X T L Biopharmaceuticals Ltd (NASDAQ: XTLB)

Stocks In Focus

Teligent Explores Strategic Alternatives For Non-Core Assets

Specialty generic pharma company Teligent Inc (NASDAQ: TLGT) has initiated a process to explore a broad range of strategic alternatives of assets non-core to its long-term strategy. The company said the decision was in response to inbound interest and evolving market conditions based in the U.S. and Canada.

In the eventuality of the materialization of one or more of the strategic alternatives, the company intends to use the proceeds to improve liquidity, optimize the capital structure, and fund efforts to unlock the full potential of its newly constructed sterile-injectable manufacturing facility in Buena, New Jersey.

The stock rallied 6.03% to $1 in after-hours trading.

J&J To Ohio Opioid Litigation For $20.4M

Johnson & Johnson (NYSE: JNJ) announced a settlement agreement with the Ohio counties of Cuyahoga and Summit that would resolve all of the claims of these counties with no admission of liability. This removes the company from the federal trial set to begin Oct. 21.

The company has agreed to pay a combined $10 million payment to the counties, reimburse $5 million in legal fees and direct $5.4 million to nonprofits for opioid-related programs in these communities.

Novartis’s Cosentyx Aces Late-Stage Study In Sondyloarthritis

Novartis AG (NYSE: NVS) announced additional positive data from the PREVENT trial that’s evaluating the safety and efficacy of Cosentyx in patients with non-radiographic spondyloarthritis, or nx-axSpA. The late-stage met the primary endpoint of ASAS40 at Week 52, showing significant and clinically meaningful reduction in disease activity for patients treated with Cosentyx versus placebo.

“The trial demonstrated a sustained response and a safety profile consistent with previous clinical trials,” the company said.

Aimmune Reportedly Receives Positive Results For Allergists’ Survey On Peanut Allerget Drug

Aimmune Therapeutics Inc (NASDAQ: AIMT)’s peanut allergy drug, which recently cleared the FDA hurdle, is likely to see strong sales, as allergists showed increasing awareness and willingness to prescribe Palforzi, the Seeking Alpha reported, citing Piper Jaffray’s proprietary survey.

The stock rallied 9.62% to $22.44 in after-hours trading.

On The Radar

Clinical Trial Readouts

Savara Inc (NASDAQ: SVRA) is due to present already-released Phase 3 data for molgradex in autoimmune pulmonary alveolar proteinosis at the European Respiratory Society 2020 International Congress being held in Madrid, Spain.

Posted-In: Biotech News FDA Legal Top Stories Pre-Market Outlook Trading Ideas Best of Benzinga


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