Here's a roundup of top developments in the biotech space over the last 24 hours.
Scaling The Peaks
(Biotech Stocks Hitting 52-week highs on Jan. 15)
Down In The Dumps
(Biotech Stocks Hitting 52-week lows on Jan. 15)
Stocks In Focus
Osmotica Reports Insider Purchase of Shares
Osmotica Pharmaceuticals PLC (NASDAQ:OSMT) shares found some strength after it reported share purchases by insiders. Altchem bought 1.25 million shares at $5 Monday, with the number of shares owned beneficially by the firm now at 22.485 million. The company also filed share purchases by Avista Capital Partners III, the Harsaul Foundation and directors David Burgstahler and SriramVenkatraman.
The stock jumped 16.47% to $5.80 in after-hours trading.
Ultragenyx Says IND For Partnered Rare Disease Drug Approved By FDA
Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) said an IND application filed with the FDA by GeneTx for GTX-102 is now effective, GTX-102 is an experimental antisense oligonucleotide being evaluated for Angelman syndrome.
Ultragenyx and GeneTx are partnering in the development of GTX-102 under a Aug. 2019 agreement, with the former receiving an exclusive option to acquire the latter.
The company said enrollment into a Phase 1/2 study is set to begin in the first half of 2020.
On The Radar
Adcom Meeting
The Anesthetic and Analgesic Drug Products Advisory Committee will review DURECT Corporation's (NASDAQ:DRRX) NDA for bupivacaine extended-release solution for instillation, for the proposed indication of post-surgical analgesia.
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