Biotech news January 25 2019

/ / Day Trading

NuCana plc (Nasdaq: NCNA) shares closed up 7% to $12.25 on news that it has withdrawn the proposed underwritten offering of American Depositary Shares (“ADSs”).  The company noted that it believes it is not in the best interest of its shareholders to raise equity capital in the current market environment.  

MacroGenics, Inc. (NASDAQ: MGNX) announced that the FDA has lifted the partial clinical hold placed last December on its Phase 1 monotherapy and combination studies of MGD009 for the treatment of solid tumors. Enrolment of new patients in the U.S. has been cleared to proceed. Shares closed up 2% to $11.70.

AbbVie (NYSE:ABBV) shares closed down 6% to $80.54 following the release of 4Q 2018 financial results. Investors sold down shares of the company on news that its main drug, Humira, saw its international sales decline by 14.8% due to competition from biosimilars.

Major price movers (stocks priced > $1.00, volume > 50k)

ADVANCERS:

Mersana Therapeutics, Inc. (MRSN): $4.25; +17%.

Scholar Rock Holding Corporation (SRRK): $16.59; +17%.

NovaBay Pharmaceuticals, Inc. (NBY): $1.97; +15%.

Tocagen Inc. (TOCA): $10.02; +14%.

Arbutus Biopharma Corporation (ABUS): $3.96; +13%.

DECLINERS:

Corcept Therapeutics Incorporated (CORT): $12.29; -11%.

Anixa Biosciences, Inc. (ANIX): $4.45; -10%.

Miragen Therapeutics, Inc. (MGEN): $2.85; -8%.

Verastem, Inc. (VSTM): $3.30; -8%.

Chimerix, Inc. (CMRX): $2:31; -7%.

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