Why Kindred Biosciences, Aprea, Catabasis And Inhibikase Are Moving Today

Kindred Biosciences, Inc. KIN, Aprea Therapeutics, Inc. APRE, Catabasis Pharmaceuticals, Inc. CATB and Inhibikase Therapeutics, Inc. IKT are among the biggest biopharma movers on Wednesday.

Kindred Flies On Buyout: Kindred announced an agreement to be bought by Elanco Animal Health Incorporated ELAN for $9.25 per share, or approximately $440 million. The per-share value represents a premium of roughly 46% to Kindred's closing price Tuesday.

Kindred Biosciences is a biopharma developing innovative biologics focused on saving and improving the lives of pets.

Kindred shares were jumping 44.87% to $9.19 and Elanco was up 2.53% to $35.69.

Related Link: Attention Biotech Investors: Mark Your Calendar For June PDUFA Dates

Aprea Soars On Positive Phase 1/2 Data For Combo Therapy Study In AML With Specific Mutation: Aprea said a Phase 1/2 trial evaluating eprenetapopt with AbbVie, Inc.'s ABBV venetoclax and Bristol-Myers Squibb Company's BMY azacitidine in patients with TP53 mutant acute myeloid leukemia has met the pre-specified primary efficacy endpoint of complete remission rate.

In 30 evaluable patients, the CR rate was 37% and the composite response rate of CR plus CR with incomplete hematologic recovery was 53%, the company said.

"We are pleased with these results from the combination of eprenetapopt with venetoclax and azacitidine in this very difficult-to-treat TP53 mutant AML population, a patient group with significant unmet medical need," said Eyal Attar, chief medical officer of Aprea.

Boston, Massachusetts-based Aprea is a biopharma developing novel cancer therapeutics that reactivate mutant tumor suppressor protein, p53.

Aprea shares were advancing 37.73% to $6.68.

Catabasis Moves On Disclosure Institutional Stake: Catabasis disclosed in a filing that healthcare-focused hedge fund RA Capital Management, L.P. owns 5.75 million shares in the company, giving it a 7.5% stake.

Catabasis' lead program, QLS-215 is a monoclonal antibody inhibitor of plasma kallikrein in preclinical development for the treatment of Hereditary Angioedema.

The shares were rallying 14.95% to $2.3450.

Inhibikase Wilts On Pricing Common Stock Offering at Discount: Inhibikase priced an underwritten public offering of 15 million shares of its common stock at a public offering price of $3 per share for total gross proceeds of approximately $45 million.

The pricing is at a 25.6% discount from the $4.03 at which the shares closed Tuesday's session.

Inhibikase is a clinical-stage pharma company developing therapeutics for Parkinson's disease and related disorders.

Shares were sliding 24.66% to $3.04.