The Daily Biotech Pulse: PTC Therapeutics, Select Biosciences Offering, Unity Biotech Expands Early-Stage Osteoarthritis Drug Study

Stock In Focus

FDA Permits Biohaven To Proceed With Late-Stage Trial Of Drug It In-Licensed From AstraZeneca

Biohaven Pharmaceutical Holding Co Ltd BHVN said the FDA has given it the greenlight to proceed with the Phase 3 trial of BHV-3241, which it had licensed from AstraZeneca plc AZN. This followed Biohaven's reactivation of the IND initially filed by AstraZeneca.

BHV-3241, a novel myeloperoxidase inhibitor being developing as a potential treatment for multiple system atrophy (MSA), a neurodegenerative disease.

Offerings

PTC Therapeutics, Inc. PTCT has commenced a public offering of $200 million worth of shares. All shares are to be sold by the company.

PTC Therapeutics shares slipped 7.03 percent to $30.7 in after-hours trading.

Selecta Biosciences said its plans to offer shares of its common stock in an underwritten public offering. The company intends to use the net proceeds from the offering to advance the development of SEL-212, including the completion of a head-to-head superiority trial of SEL-212 compared to the current FDA-approved uricase therapy, completion of the Phase trial and preparations of a Phase 3 trial, among others.

Select Biosciences shares plummeted 18.42 percent to $1.55 in after-hours trading.

Mirati Therapeutics Inc MRTX announced the closing of a previously announced underwritten public offering of 1.86 million shares of its common stock at a price of $62 per share. The company said it expects to mobilize gross proceeds of $115 million from the offering.

Mirati gained 2.41 percent to $65.50 in after-hours trading.

Urogen Pharma Ltd URGN announced plans to offer $150 million worth of its common shares in an underwritten public offering.

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Unity Biotech Expands Phase 1 Study Of Osteoporosis Drug

Unity Biotechnology Inc UBX is further expanding the Phase 1 study of UBX0101, which is being evaluated to treat moderate to severe osteoarthritis of the knee, adding a cohort of additional 24 patients to be treated at the highest evaluated dose of 4mg as Part B of the study.

"Part B is intended to supplement the initial Phase 1 trial (Part A) by further evaluating the impact of UBX0101 on specific pro-inflammatory and extracellular matrix modifying factors within the Senescence-Associated Secretory Phenotype (SASP)," the company said.

The company expects to release top-line results of both the Part A and Part B study in the second quarter of 2019.

Aslan Publishes New Pre-Clinical Data For Breast Cancer Drug

ASLAN PHARMACEU/ADR ASLN announced publication of new preclinical data for its varlitinib in treating negative breast cancer, or TNBC, cell lines.

"The data suggest that HER-family signalling plays an important role in TNBC progression and that pan-HER inhibition is potentially an effective treatment for TNBC patients," the company said.

Varlitinib had earlier shown positive results in clinical study of patients with HER2 positive metastatic breast cancer, and it is also being evaluated in global studies in biliary tract cancer.

On The Radar

Earnings

Abbott Laboratories ABT