Immune Design (NASDAQ:IMDZ) announced that it will be acquired by Merck(NYSE:MRK) for $5.85 per share in cash for an approximate value of $300m. Shares closed up 310% to $5.82.
Zosano Pharma(NASDAQ:ZSAN) announced the completion of the second and final stage of the long-term safety trial for Qtrypta, in which patients treated migraine attacks over a one year period. The company noted rate of pain freedom at two hours following patch application was approximately 44%, while the rate of freedom from the most bothersome symptom was approximately 68%. The company expects to file a U.S. regulatory submission in 4Q 2019. While the news had only a marginal impact during early trading, shares ramped up late-morning and into the afternoon session to close up 171% to $6.00.
Opiant Pharmaceuticals, Inc. (NASDAQ:OPNT) announced that its Phase 2 clinical trial evaluating OPNT001 for the treatment of bulimia nervosa (BN), did not meet the primary endpoint of reducing the number of binging days from baseline to week 8. Key secondary efficacy endpoints were also not met.
Melinta Therapeutics, Inc. (NASDAQ: MLNT) announced a one-for-five reverse stock split of its common stock, and will trade on a split-adjusted basis from the beginning of trading on Friday February 22, 2019. Shares closed down 6% to $1.25.
Adial Pharmaceuticals, Inc.(NASDAQ:ADIL) shares closed up 18% to $3.97. The company announced the pricing of a public offering of 2.475m shares of its common stock and warrants to purchase up to 1,856,250 shares. Each share is being sold together with a warrant to purchase 0.75 of one share at a combined price to the public of $3.25 for gross proceeds of $8m.
Trillium Therapeutics Inc. (NASDAQ: TRIL) shares are trading down 37% to $0.81 after hours on news of a public offering of common share units and preferred shares.
GTx, Inc. (NASDAQ: GTXI) shares shot up in the last 30 minutes of trading to close up 72% to $1.51. The spike was in response to apparent confusion over tickers following a price target of $15 for Garrett Motion (NASDAQ: GTX). Shares have settled back down 28% after hours to $1.08.
Major price movers (stocks priced > $1.00, volume > 50k):
Refer to the BioPharmCatalyst Biotech Stocks page for Top 10 Gainers/Losers/Unusual Volume
Infinity Pharmaceuticals, Inc. (INFI): $1.70; +24%.
Achieve Life Sciences, Inc. (ACHV): $1.79; +13%.
BioTime, Inc. (BTX): $1.28; +11%.
AC Immune SA (ACIU): $4.63; +10%.
Theratechnologies Inc. (THERF): $6.26; +9%.
Seelos Therapeutics, Inc. (SEEL): $2.45; -10%.
Clearside Biomedical, Inc. (CLSD): $1.51; -13%.
Checkpoint Therapeutics, Inc. (CKPT): $2.95; -12%.
SCYNEXIS, Inc. (SCYX): $1.28; -9%.
Aquestive Therapeutics, Inc. (AQST): $5.74; -9%