Why Cellect, Immutep, F-star, ProQR and Evofem Are Moving Thursday

Cellect Biotechnology Ltd. APOP, Immutep Limited IMMP, F-star Therapeutics, Inc. FSTX, ProQR Therapeutics N.V. PRQR and Evofem Biosciences, Inc. EVFM are among the biggest health care movers Thursday.

Cellect to Merge With Quoin: Cellect, which provides biotech companies with the technology to select stem cells to be used in cell-therapy research, announced a merger deal with privately held Quoin Pharmaceuticals.

The deal will leave Cellect shareholders owning 25% of the combined company and Quoin owning the remainder stake.

Cellect also announced the signing of a deal to divest the entire stake in its Cellect Biotherapeutics subsidiary in favor of EnCellX Inc.

Cellect shares were rallying 40.11% to $4.89.

Immutep, F-star Gain On Positive News On Rival's Candidate: Immutep, an Australian biotech that develops immunotherapies for cancer and autoimmune disorders, and U.K.-based F-star, a clinical-stage biopharma developing tetravalent bispecific antibodies for cancer treatment, are reacting to a positive readout from Bristol-Myers Squibb BMY.

The large-cap biopharma announced positive primary results from the Phase 2/3 trial evaluating the fixed-dose combination of relatlimab, an anti-LAG-3 antibody, and Opdivo versus Opdivo alone in patients with previously untreated metastatic or unresectable melanoma.

Both Immutep and F-star are developing anti-LAG-3 antibody treatments.

Immutep stock was gaining 32.32% to $3.48.

Related Link: The Daily Biotech Pulse: Bristol-Myers Squibb's Skin Cancer Readout, Cellect Strikes Reverse Merger Deal

ProQR Finds Follow-through Buying: ProQR reported Wednesday positive data from a Phase 1/2 study evaluating QR-421a as a treatment for Usher syndrome type 2. The stock ended the session up 5.2% at $5.68.

Sell-side firms Chardan and H.C. Wainwright issued positive commentary on the biopharma in their review of data.

F-star was advancing 26.96% to $4.60.

Evofem Slides On Follow-on Offering: Evofem, a commercial-stage biopharma focusing on women's sexual and reproductive health, priced its underwritten public offering of 17.143 million shares of its common stock at a price to the public of $1.75 per share. The company expects to raise about $30 million from the offering.
Evofem was slipping 24.03% to $1.77.