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Here's a roundup of top developments in the biotech space over the last 24 hours:
(Biotech Stocks Hitting 52-week Highs Oct. 14)
(Biotech Stocks Hitting 52-week Lows Oct. 14)
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) said it has decided to stop dosing in the Phase 2 proof-of-concept trial that is evaluating VX-814 in alpha-1 antitrypsin deficiency, or AATD. The decision is based on the safety and pharmacokinetic observed to date in the trial, the company said.
The company also opted to discontinue development of VX-814.
"Analysis of the PK data from the study indicated that exposures achieved were low," Vertex said.
Based on these data, the company said it concluded that it would not be feasible to safely reach targeted exposure levels, and thus meaningful increases in AAT levels, with VX-814, and the study was stopped.
The stock was down 9.75% at $245 premarket Thursday.
Regeneron Pharmaceuticals Inc (NASDAQ:REGN) said the FDA approved Inmazeb — an antibody cocktail comprising atoltivimab, maftivimab and odesivimab-ebgn — for the treatment of infection caused by Zaire ebolavirus in adult and pediatric patients, including newborns of mothers who have tested positive for the infection.
The stock was down 0.47% premarket at $598.
Related Link: The Week Ahead In Biotech: J&J Earnings Kickstarts Pharma Earnings, More IPOs In The Pipeline
AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) said it has formally requested a public hearing in response to the FDA's proposal to withdraw its approval of Makena, along with its equivalent generics, to reduce preterm birth.
The hearing request will be followed by a submission of supporting documentation to the FDA, Amag said. That submission will provide further detail on the company's reasoning for a hearing, recognizing clinicians' decade-long use of this treatment and the public health implications of withdrawing it, Amag said.
The stock was trading 1.71% higher premarket at $13.68.
SI-Bone Inc (NASDAQ:SIBN) priced its underwritten public offering of 3.19 million shares of its common stock at $22 each. Of the shares being offered, 3 million are being offered by SI-BONE and 190,053 shares by a selling stockholder.
The company expects to raise gross proceeds of about $66 million from the 3 million shares it intends to sell.
The offering is scheduled to close Oct. 19, subject to the satisfaction of customary closing conditions.
The stock was down 5.05% premarket at $22.20.
Can Fite Biopharma ADR Representing 30 Ord Shs (NYSE:CANF) is scheduled to host a conference call with investors at 4:15 p.m. ET to provide an update on its Phase 3 study evaluating its lead candidate piclidenoson in psoriasis, and the positive interim data analysis and recommendations from the study's Independent Data Monitoring Committee.
Related Link: Attention Biotech Investors: Mark Your Calendar For October PDUFA Dates
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