Biotech Stock Roundup: Horizon to Buy Hyperion, Conatus Up on …

Biotech Stock Roundup: Horizon to Buy Hyperion, Conatus Up on …

Once again, acquisition news made it to the headlines with Horizon Pharma (HZNPSnapshot Report) announcing that it will be acquiring Hyperion Therapeutics (HPTXSnapshot Report). BioMarin has hit a 52-week high on acquisition rumors. Meanwhile, it’s been an eventful week on the pipeline and regulatory front as well with companies like Conatus (CNATSnapshot Report), Amgen (AMGNAnalyst Report) and Biogen (BIIBAnalyst Report) coming out with updates.

Recap of the Week’s Most Important Stories

1. Conatus’ shares are up on encouraging top-line data from a mid-stage study for experimental liver disease treatment, emricasan. Emricasan performed well in the study conducted in patients with nonalcoholic fatty liver disease (NAFLD) including the subset of NAFLD patients with nonalcoholic steatohepatitis (NASH). The results support the development of emricasan in liver cirrhosis due to NASH (Read more: Conatus Soars on Positive Phase II Data on Emricasan).

2. Horizon Pharma announced its intention to acquire Hyperion Therapeutics in a deal valued at about $1.1 billion. This deal will allow Horizon to strengthen its position in the orphan disease market with the addition of a couple of urea cycle disorder drugs to its portfolio (Read more: Horizon Pharma to Buy Hyperion Therapeutics for $1.1B).

3. Amgen received priority review status in the U.S. for its supplemental new drug application for multiple myeloma drug, Kyprolis. Amgen is looking to convert Kyprolis’ accelerated approval to full approval and is also looking to get the label expanded for the second line treatment of patients with relapsed multiple myeloma.

Currently, Kyprolis is approved for use in multiple myeloma patients who have received at least two prior therapies, including Velcade (bortezomib) and an immunomodulatory agent (IMiD), and whose disease has progressed on or within 60 days of completion of the last therapy. Approval for second-line treatment would significantly expand the patient population – a response from the FDA should be out by Jul 26 (Read more: Amgen’s Kyprolis Gets FDA Priority Review for Expanded Use).

Meanwhile, Regeneron (REGNAnalyst Report) got yet another label expansion for its eye treatment with the FDA approving Eylea for the treatment of diabetic retinopathy in patients with diabetic macular edema (Read more: Regeneron’s Eylea Gets FDA Approval for Label Expansion).

4. Orexigen’s (OREXAnalyst Report) obesity treatment, Contrave, is now approved in the EU as well under a different trade name – Mysimba. Mysimba’s approval comes shortly after the EU approved another obesity treatment, Novo Nordisk’s Saxenda (Read more: Orexigen’s Obesity Drug Mysimba Gains European Approval). Meanwhile, Biogen’s experimental multiple sclerosis treatment Zinbryta has been accepted for review in the EU (Read more: Biogen/AbbVie’s MS Drug Zinbryta Under Review in the EU). The company’s biosimilar version of Remicade has also been accepted for review in the EU (Read more: Biogen’s Biosimilar Version of Remicade under EU Review).

5. Sarepta, a company known for its efforts to bring its Duchenne muscular dystrophy (DMD) candidate to market, has appointed its Chief Medical Officer as the interim chief executive officer (CEO) following the exit of the previous CEO. The company mentioned in its press release that the change should facilitate discussions with regulatory agencies so that the DMD treatment can be brought to market as soon as possible. Sarepta remains on track to file for FDA approval of its DMD candidate, eteplirsen, in mid-15.

Performance

Over the last five trading days, Biogen’s shares declined the most (6.73%) among major biotechs. Biogen, however, was the highest gainer (30.52%) over the last six months. Gilead lost 7.07% during this period.

With the NASDAQ Biotechnology Index declining 3.45% over the last five trading days (See the last biotech stock roundup here: Biogen Soars on Alzheimer’s Data, Gilead HCV Drugs Label Update), concerns regarding a biotech selloff like last year are surfacing.

Company
Last Week
Last 6 Months
AMGN
-3.71%
16.20%
BIIB
-6.73%
30.52%
GILD
-3.23%
-7.07%
CELG
-5.62%
23.39%
REGN
-4.70%
26.96%
ALXN
-5.53%
3.65%
VRTX
-5.12%
10.00%

What’s Next in the Biotech World?

With first quarter earnings season yet to start, watch out for the usual pipeline updates and data presentations from biotech companies.

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Biotech Stock Roundup: Horizon to Buy Hyperion, Conatus Up on …

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