Shares of Applied Therapeutics plunged in premarket trading on January 3 after the company announced it is unable to seek regulatory approval of the Galactosemia therapeutic AT-007 at this time.

Shares of GlaxoSmithKline climbed in trading on rumors that the consumer health business it intends to spin off into a separate company next year is attracting interest from venture capitalists.

Florida-based AzurRx BioPharma is bolstering the company’s gastrointestinal disease pipeline with the $229 million acquisition of First Wave Bio and its small molecule therapeutics for auto-immune inflammatory bowel diseases (IBD) and other serious conditions.

Lomecel-B – Longeveron’s proprietary off-the-shelf cell therapy for aging frailty – failed the six-minute walk test (6MWT) endpoint of a Phase IIb study, according to a statement published by the Miami-based biotech on Aug. 13.

Topline results from Outlook Therapeutics’ pivotal Phase III NORSE TWO safety and efficacy trial show the biopharmaceutical company’s ONS-5010/Lytenava (bevacizumab) significantly improved outcomes in patients with neovascular age-related macular degeneration.

The U.S. Food and Drug Administration rejected Ardelyx Inc.’s chronic kidney disease drug tenapanor by issuing a Complete Response Letter.

Shares of U.K.-based Vectura Group were up more than 13% in trading after Philip Morris International announced the tobacco giant’s plans to acquire the company for $1.44 billion in cash.

Shares of Vertex Pharmaceuticals fell in trading after the company announced it will not advance a novel small molecule corrector of the Z-AAT protein into a Phase III study for a rare disease that can lead to complications of the liver and lungs.

Shares of Ovid Therapeutics soared in trading after the company announced pharma giant Takeda signed a licensing agreement valued at $856 million to secure global rights to the investigational medicine soticlestat for the treatment of two forms of rare epilepsy.

Shares of Pandion Therapeutics soared more than 131 percent in trading after pharma giant Merck announced the acquisition of the autoimmune-focused company for up to $1.85 billion.