The Daily Biotech Pulse: Genomic Health Earnings, AbbVie's Humira Approved For Another Indication In Japan

Down In The Dumps

(Biotech stocks hitting 52-week lows on Feb. 20)

• Achaogen Inc AKAO(announced closing of underwritten public offering of $15 million worth of shares)
• MOTIF BIO PLC/S ADR MTFB
• Ovid Therapeutics Inc OVID(announced a concurrent offering of common stock and preferred shares)
• Seelos Therapeutics Inc SEEL

Stock In Focus

Genomic Health Q4 Results Beat Estimates

Genomic Health, Inc. GHDX reported fourth-quarter revenues of $104.6 million. Net income climbed from 5 cents per share to 23 cents per share and non-GAAP net income increased from $2.9 million to $12.4 million. The results exceeded estimates.

For the full-year 2019, the company expects non-GAAP EPS of $1.38-$1.54 on revenues of $436 million to $448 million. The bottom-line guidance exceeded forecast and the revenue guidance was in line.

The stock rose 3.99 percent to $72 in after-hours trading.

Hoth Completes IPO

Hoth Therapeutics Inc HOTH said it closed its initial public offering of 1.25 million shares at $5.60 per share, mobilizing aggregate gross proceeds of $7 million through the offering. The shares began trading on the Nasdaq Feb. 15.

Shares fell 7.47 percent to $7.31 in after-hours trading.

See Also: Intercept Shares Soar To Multimonth High After NASH Drug Aces Late-Stage Trial

Mannkind Presents Positive Data For Its Inhaled Insulin at Diabetes Conference

MannKind Corporation MNKD announced additional positive Afrezza results at the 12th International Conference on Advanced Technologies & Treatments for Diabetes.

Afreeza is a rapidly-acting inhaled insulin used to treat Type 1 and Type 2 diabetes.

"By delivering a time-action profile closer to that of physiologic insulin action, post-prandial glucose levels and other markers of glycemic control were significantly improved compared to injected insulin in meal-challenge tests in patients with type 2 diabetes," said David Kendall, Chief Medical Officer of MannKind.

The stock gained 2.72 percent to $1.51 in after-hours trading.

AbbVie's Humira Wins Approval For Yet Another Indication In Japan

AbbVie Inc ABBV and partner Eisai said they have received approval for an additional indication of Humira in Japan, bringing up the total approvals for the drug to 11 in Japan. This time around, the Japanese regulatory body approved Humira for hidradenitis suppurativa, a painful inflammatory skin disease.

AbbVie shares ended little changed at $80.01 in after-hours trading.

On The Radar

Earnings

Integra Lifesciences Holdings Corp IART (before the market open)
Repligen Corporation RGEN (before the market open)
Halozyme Therapeutics, Inc. HALO (after the market close)
DexCom, Inc. DXCM (after the market close)
Anika Therapeutics Inc ANIK (after the market close)
Emergent Biosolutions Inc EBS
EXACT Sciences Corporation EXAS (after the market close)
Nevro Corp NVRO(after the market close)
BioMarin Pharmaceutical Inc. BMRN (after the market close)
Cytokinetics, Inc. CYTK (after the market close)
STAAR Surgical Company STAA (after the market close)