Shares of MEI Pharma Inc. plunged more than 60% in trading on March 25 after the company announced that additional clinical research will be needed in order for the its phosphatidylinositol-3-kinase (PI3K) inhibitor zandelisib to be considered for regulatory approval.
The U.S. health regulator approved Marinus Pharmaceuticals Inc.’s lead drug to treat seizures associated with a rare genetic disorder in patients two years of age and older, the company said on March 18, sending its shares soaring around 36 percent.
Sanofi’s shares slid 5 percent on March 14 after a product candidate to fight a common type of breast cancer failed to slow progression of the disease in a clinical trial, knocking confidence in the French drugmaker’s drug development prowess.
Shares of Adaptive Biotechnologies climbed on March 9 after the company announced a reorganization of priorities to spur future growth, including a workforce reduction of approximately 12 percent.
Shares of bluebird bio fell in trading on March 7 after the company revealed its dire financial straits.
OptiNose AS, which focuses on treating ear, nose and throat (ENT) and allergy diseases, announced that the Pennsylvania-based pharmaceutical company’s Phase III ReOpen1 clinical trial met both co-primary endpoints.
Shares of Kodiak Sciences plunged in trading on February 23 after the company announced its Phase II/III study of a novel antibody biopolymer conjugate failed to hit the mark in treatment-naïve subjects with neovascular (wet) age-related macular degeneration.
Sage Therapeutics Inc.’s drug helped improve depressive symptoms after three days in a late-stage study, but investor concerns over how long the treatment’s effect would last sent the drug developer’s shares down 17% on February 16.
Shares of Cassava Sciences were up more than 5% in premarket trading on February 11 after the U.S. Food and Drug Administration denied a Citizen Petition filed during 2021 on behalf of short-selling clients who sought to suspend the company’s Alzheimer’s clinical trials.
Biogen Inc. on Feb. 3 forecast 2022 profit well below Wall Street estimates as sales of the company’s new Alzheimer’s disease drug stall amid questions over Aduhelm’s efficacy and a looming U.S. government coverage decision that could severely limit the medicine’s future use and force further cost cutting.
