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.
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.
Shares of Biogen jumped more than 11 percent after the company announced the U.S. Food and Drug Administration accepted the Biologics License Application (BLA) for aducanumab, an investigational treatment for Alzheimer’s disease.
Two years after AbbVie and Voyager Therapeutics first forged a collaboration to develop treatments for Alzheimer’s disease, the partnership came to an end after AbbVie terminated the agreement.
Maryland-based Novavax snagged $384 in additional grant funding to advance the company’s vaccine candidate against COVID-19.
Shares of ASLAN Pharmaceuticals rose more than 83 percent after the company announced positive preliminary data in an atopic dermatitis study.