The Daily Biotech Pulse: Vertex Awaits FDA Verdict, Strongbridge Falls On Offering, ReShape's Woes Continue

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

Scaling the Peaks

(Stocks hitting 52-week highs on Aug. 14)

• DexCom, Inc. DXCM
• Masimo Corporation MASI
• Medtronic PLC MDT
• SurModics, Inc. SRDX
• Xeris Pharmaceuticals Inc XERS

Down In The Dumps

(Stocks hitting 52-week lows on Aug. 14)

• CELLECT BIOTECH/S ADR APOP
• Cesca Therapeutics Inc KOOL(reported a wider loss for Q2)
• ContraVir Pharmaceuticals Inc CTRV
• Curis, Inc. CRIS
• Cytori Therapeutics Inc CYTX
• Endologix, Inc. ELGX
• Five Prime Therapeutics Inc FPRX
• NewLink Genetics Corp NLNK
• OptiNose Inc OPTN
• Osiris Therapeutics, Inc. OSIR
• Scpharmaceuticals Inc SCPH
• Stellar Biotechnologies Inc SBOT
• Vermillion, Inc. VRML
• Titan Medical Inc. TMDI

Stocks In Focus

Strongbridge Slips On Common Stock Offering

Strongbridge Biopharma plc SBBP announced its intention to offer 9 million of its shares in an underwritten common stock offering. The company said it intends to use the net proceeds to support commercialization and life cycle management activities of Keveyis and Macrilen, make commercially ready its Recorlev and for other corporate purposes.

The stock slumped 7.28 percent to $5.795 in after-hours trading.

Stocks Reacting To Earnings

Cytori Therapeutics Inc CYTX reported a second-quarter loss of 59 cents per share compared to a loss of 45 cents per share last year. Cytori said it burnt $2.7 million operating cash in the quarter.

The stock slid 7.07 percent to $0.368 in after-hours trading.

Akers Biosciences Inc AKER said its Q2 revenues fell from $1.072 million in Q217 to $526,601 in Q218. The company reported a loss of 20 cents per share, belying expectations for a 6-cent profit per share.

The stock slumped 27.22 percent to $0.22 in after-hours trading.

See Also: The Week Ahead In Biotech: Conferences, PDUFA Dates, Earnings And IPOs

OncoCyte Corp OCX reported a second-quarter loss of 12 cents per share compared to 13 cents per share last year. Analysts expected a loss of 9 cents per share.

The stock fell 5.26 percent to $2.70 in after-hours trading.

Reshape Lifesciences Inc RSLS reported Q2 revenues of $653,000 compared to $93,060 in the year-ago period. The loss per share widened from $13.68 in Q217 to $15.78 in Q218.

The stock plunged 18.3 percent to $0.10 in after-hours trading.

Biocept Inc BIOC said its second quarter fell from $1.3 million in Q217 to $822,000 in Q218. Net loss per share narrowed from $6.32 to $2.70, narrower than the $3.30 per share consensus estimate.

Biocept shares slipped 7.12 percent to $3.39 in after-hours trading.

On The Radar

PDUFA Date

The FDA is set to decide on Vertex Pharmaceuticals Incorporated VRTX's lumacaftor and ivacaftor combo to be used in cystic fibrosis patients aged 1-2 years.

Earnings

Auris Medical Holding AG EARS Q2 EPS CHF(0.50) Up From CHF(1.22) YoY
Bio-Path Holdings Inc BPTH Q2 EPS $(0.15) Down From $(0.03) YoY