The Daily Biotech Pulse: Big Pharma Earnings, Kiniksa Offering, FDA Decision Day For Aquestive

Here's a roundup of top developments in the biotech space over the last 24 hours:

Scaling The Peaks

(Biotech stocks hitting 52-week highs on Jan. 28)

• BioDelivery Sciences International, Inc. BDSI
• EXACT Sciences Corporation EXAS

Down In The Dumps

• (Biotech stocks hitting 52-week lows on Jan. 28)
• AbbVie Inc ABBV (analysts trimmed price targets for shares following the earnings miss the company reported Friday)
• Harvard Bioscience, Inc. HBIO
• Pulmatrix Inc PULM
• Retrophin Inc RTRX
• Tricida Inc TCDA
• Zafgen Inc ZFGN

Stock In Focus

Offerings

Pulmatrix priced its underwritten public offering of 1.56 million shares at 17 cents per share. The company expects to generate gross proceeds of about $265,400 from the offering. The offering is expected to close on or about Jan. 31.

Pulmatrix fell 2 percent to 18.6 cents in after-hours trading.

Cancer Genetics Inc CGIX priced its public offering of 15.217 million shares at 23 cents per share for generating gross proceeds of about $3.5 million.

The company said it intends to use the net proceeds to pay its lenders, and if any proceeds remain available, to pay certain costs related to its strategic initiatives, and to fund working capital and other general corporate purposes.

Cancer Genetics shares slumped 15.72 percent to 26 cents in after-hours trading.

Kiniksa Pharmaceuticals Ltd KNSA commenced a public offering of 8 million Class A shares, with all the shares earmarked for the offering being sold by the company.

The company also said, subject to the closing of the public offering and other customary closing conditions, it intends to sell in a private placement 2 million Class A1 common shares to one or more existing shareholders affiliated with certain of its directors at the same price as that of the pricing of the common stock offering.

Kiniksa shares slipped 5.06 percent to $20.46 in after-hours trading.

See Also: Searching For A Treatment: NASH Investigational Drugs With Catalysts This Year

Intellipharma Gets Extension to Comply to Nasdaq's Listing Standards

IntelliPharmaCeutics Intl Inc IPCI said it has received a notice from the Nasdaq Hearings Panel, extending the continued listing of the common shares until March 7, even as the company works to regain compliance with Nasdaq's requirements.

The stock rallied 13.6 percent to 33 cents in after-hours trading.

On The Radar

PDUFA Date

The FDA is set to rule on Aquestive Therapeutics Inc AQST's NDA for APL-130277, which is being evaluated for motor fluctuations, or OFF episodes, experienced by people living with Parkinson's disease, when medications stop working. Aquestive is partnering with Sunovian Pharma, which is the sponsor of APL-130277 – chemically apomorphine sublingual film.

Earnings

• Allergan plc AGN (before the market open)
• Biogen Inc BIIB (before the market open)
• Pfizer Inc. PFE (before the market open)
• Amgen, Inc. AMGN (after the market close)
• Illumina, Inc. ILMN (after the market close)