The Daily Biotech Pulse: Hookipa To Debut, Mustang Bio Skyrockets, AngioDynamics Sheds Portfolio

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

No biotech stocks hit 52-week highs on Thursday.

Down In The Dumps

(Biotech stocks hitting 52-week lows on April 17)

• ABIOMED, Inc. ABMD
• Aclaris Therapeutics Inc ACRS
• Acorda Therapeutics Inc ACOR
• Aimmune Therapeutics Inc AIMT
• Aptinyx Inc APTX
• CELLECT BIOTECH/S ADR APOP
• Conatus Pharmaceuticals Inc CNAT
• Dynavax Technologies Corporation DVAX
• Equillium Inc EQ
• Meridian Bioscience, Inc. VIVO
• Novan Inc NOVN
• Nuvectra Corp NVTR
• Revance Therapeutics Inc RVN
• Sensus Healthcare Inc SRTS
• SI-Bone Inc SIBN
• Unum Therapeutics Inc UMRX
• Verastem Inc VSTM
• Teva Pharmaceutical Industries Ltd TEVA

Stock In Focus

Mustang Bio Reports Positive Data For Mid-Stage Gene Therapy Candidate For Bubble Boy Disease

Mustang Bio Inc MBIO announced the publication in the New England Journal of Medicine, of data from a Phase 1/2 trial conducted by St. Jude Children's Research Hospital that is evaluating lentiviral gene therapy for treating newly-diagnosed infants under two years old with XSCID, or SCID-X1, aka bubble boy disease. Mustang Bio has licensed the lentiviral gene therapy for commercial use, and has named it MB-107.

The data showed that the therapy was well tolerated, and seven of the eight treated patients showed normalization of CD3+, CD4+ and CD4+ naïve T-cell and natural killer cell numbers within three to four months after treatment.

"The results have been very good thus far. We've been able to restore a full immune system pretty quickly," the company said.

In after-hours trading, Mustang Bio shares galloped 320.28 percent to $11.81. Fortress Biotech FBIO, which owns about 40 percent stake in Mustang Bio, saw its shares jump 99.30 percent to $2.85.

AngioDynamics To Sell NAMIC Fluid Management Portfolio For $167.5M

Medical device maker AngioDynamics, Inc. ANGO announced an agreement to sell its NAMIC fluid management portfolio to Medline Industries for $167.5 million. The company said it will use the sale proceeds to pay off all outstanding debt, and that it will use its cash balance of about $74 million to support strategic investments in its existing portfolio to drive growth and profitability.

The shares slumped 12.44 percent to $19.50 in after-hours trading.

Oncomed Shareholders Vet Reverse Merger With Mereo

Oncomed Pharmaceuticals Inc OMED shareholders approved its previously-announced reverse merger with AIM-listed U.K. rare disease biotech Mereo BioPharma. Following this, the reverse merger is expected to be fully effective not later than the close of trading in New York on April 23.

The new ordinary shares will begin trading on the AIM and the ADRs on the Nasdaq on April 24.

Oncomed shares rose 6.86 percent to $1.09 in after-hours trading.

Genfit's Liver Disorder Drug Granted Breakthrough Therapy Designation

GENFIT S A/ADR GNFT, a biotech focusing on metabolic and liver diseases, said its lead product candidate elafibranor was granted Breakthrough Therapy Designation by the FDA for the treatment of Primary Biliary Cholangitis in adults with inadequate response to ursodeoxycholic acid.

Natera, Eiger, Endava Price Common Stock Offerings

Natera Inc NTRA said it has priced its underwritten public offering of 5.263 million shares at $19 per share. The offering is expected to close on April 23.

Eiger Biopharmaceuticals Inc EIGR priced its underwritten public offering of 4.5 million shares at $11 per share.

Eiger shares fell 5.72 percent to $13.03 in after-hours trading.

Endava PLC – ADR DAVA priced its underwritten public offering of 5 million ADSs, each representing one Class A ordinary share of Endava, at $27.25 per ADS.

Endava shares rose 1.94 percent to $27.80 in after-hours trading.

On The Radar

Earnings

Intuitive Surgical, Inc. ISRG (after the market close)

IPO

Hookipa Pharma priced its downsized initial public offering of 6 million shares at $14 per share, at the low end of the estimated price range of $14-$16. The developer of T cell immunotherapies for treating cancer and infectious diseases is to list its shares on the Nasdaq under the ticker symbol "HOOK."