Shares of Avenue Therapeutics plunged in trading after the company announced the U.S. Food and Drug Administration rejected the New Drug Application for intravenous tramadol over safety concerns.
Shares of Solid Biosciences skyrocketed in trading after the company announced the U.S. Food and Drug Administration lifted the clinical hold on the IGNITE DMD Phase I/II clinical trial.
Shares of CStone Pharmaceuticals were up after Pfizer invested $200 million into the company for a nearly 10% stake to support the development of a checkpoint inhibitor aimed at the oncology market in China.
Germany’s CureVac NV started a mid-stage study testing the company’s experimental coronavirus vaccine and plans to begin a decisive global trial with about 30,000 volunteers in the fourth quarter of 2020.
Endo said the company was manufacturing Novavax’s experimental Covid-19 vaccine, sending the generic drugmaker’s shares up 10% in trading.
Seattle Genetics’ shares rocketed after news broke of Merck making a major investment into the Bothwell, Washington-based company via two strategic oncology deals.
Shares of Akcea Therapeutics were up more than 60 percent in trading after majority owner Ionis Pharmaceuticals announced it will acquire all outstanding shares of the company, which amounts to about 24 percent of available stock for $18.50 per share.
Sociétés des Produits Nestlé, a part of Nestlé Health Science, acquired the outstanding shares of California-based Aimmune for $2.6 billion in cash following years of increasing its financial position in the food allergy-focused company.
Sanofi announced the acquisition of Principia Biopharma in a deal valued at about $3.68 billion as the French company continues to transform its R&D division to more heavily emphasize oncology and other lucrative programs.
Less than one month after GlaxoSmithKline took a 10% stake in CureVac, the Germany-based company raised $213 million in an initial public offering.