A SUIVRE

Prothena PRTA +17% following deal with Celgene; ​Proteostasis PTI slides on report and offering

Proteostasis Therapeutics, Inc. (Nasdaq: PTI) shares tumbled to close down 26% to $5.16 following both a negative report by Kerrisdale Capital, coupled with its announcement Monday of a public offering.  Readers will note that a 1Q 2018 entry is listed in the BioPharmCatalyst FDA Calendar for its Phase 2 trial of Kalydeco (ivacaftor) and PTI-428. This is following guidance from the company in November 2018 of 14-day data due 1Q 2018. However, no further mention of its expected timeline was noted in recent press releases, presentations and SEC filings. BioPharmCatalyst reached out to the company over a week ago for clarification. A reply has yet to be received from the company.
Prothena Corporation plc (NASDAQ:PRTA) shares are trading up 21% to $41.02 after-hours following its announcement of a global collaboration with Celgene Corporation (NASDAQ:CELG) focusing on several neurodegenerative diseases, including tau, TDP-43 and an undisclosed target. Prothena will receive a $100m upfront payment and a $50m equity investment by Celgene, plus future potential exercise payments and regulatory and commercial milestones for each licensed program. Prothena will also receive additional royalties on net sales of any resulting marketed products.
MediWound Ltd. (MDWD) shares closed up 15% to $5.40 following reports that it has been approached by another company regarding a possible acquisition of the company.
Seattle Genetics, Inc. (Nasdaq: SGEN) announced that the FDA has approved ADCETRIS (brentuximab vedotin) in combination with chemotherapy in adult patients with previously untreated Stage 3 or 4 classical Hodgkin lymphoma. The approval is based on data from the Phase 3 ECHELON-1 clinical trial. Approval was granted well before the assigned PDUFA date under priority review of May 1, 2018.
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) shares closed up 29% to $39.75 following Monday’s announcement that its Phase 2 OASIS trial for etrasimod, for the treatment of ulcerative colitis (UC), met primary and all secondary and clinical remission endpoints. The company also announced after the bell that it intends to sell 7.5m shares in an underwritten public offering.
DBV Technologies (NASDAQ: DBVT) announced an offering of $150m shares. Shares are currently trading down 3% to $21.25 after hours.
AmpliPhi Biosciences Corporation (NYSE American: APHB) announced a registered direct offering of 2,743,640 shares at a price of $1.10 per share for gross proceeds of approximately $3m. Shares slid 21% to $1.21.
Cardiome Pharma Corp. (Nasdaq:CRME) shares closed up 14% to $1.79 following its announcement that Cipher Pharmaceuticals Inc. (TSX: CPH) will acquire the Canadian business portfolio of Cardiome of commercial and pipeline hospital products administered in the acute care setting. Cardiome will receive $25.5m (CAD) as part of the agreement.
Zealand Pharma A/S (NASDAQ: ZEAL) shares closed up 11% to $16.18 following its announcement that the primary and key secondary objectives of its first Phase 3 trial of dasiglucagon for treatment of severe hypoglycemia have been met. Further data are expected to be available in 2Q 2018. Data from its pivotal Phase 3 trial are due 2H 2018.


ADVANCERS:
CASI Pharmaceuticals, Inc. (CASI): $3.91; +22%.
Auris Medical Holding AG (EARS): $1.69; +10%.
Arsanis, Inc. (ASNS): $26.03; +9%.
Eleven Biotherapeutics, Inc. (EBIO): $1.13; +8%.
G1 Therapeutics, Inc. (GTHX): $40.35; +7%.
DECLINERS:
SELLAS Life Sciences Group, Inc. (SLS): $3.87; -19%.
CHF Solutions, Inc. (CHFS): $3.41; -15%.
Dicerna Pharmaceuticals, Inc. (DRNA): $11.14; -11%.
Oragenics, Inc. (OGEN): $1.98; -10%.
Endo International plc (ENDP): $6.05; -10%.