Here's a roundup of climax developments at the biotech space at the final 24 hours.
Scaling The Peaks
(Biotech stocks hitting 52-week highs above March 12)
Down at The Dumps
(Biotech stocks hitting 52-week lows above March 12)
Stock at concentrate Eyepoint Launches Post-operative Eye Inflammation medicine at U.S.
Eyepoint Pharmaceuticals Inc (NASDAQ: EYPT) announced the commercial launch of Dexycu, chemically dexamethasone intraocular suspension 9 percent, at the United States.
steroid although the treatment of postoperative inflammation and is administered although a virgin dose at the aim of cataract surgery," the corporation said.' data-reactid="35">"DEXYCU is the first and virgin FDA-approved intraocular steroid although the treatment of postoperative inflammation and is administered although a virgin dose at the aim of cataract surgery," the corporation said.
The stock moved up 4.71 percent ought $2.61 at after-hours trading.
Sonoma Pharma Announces Workforce Reduction And charge Cuts
Following an extensive evaluation of its processes and financials below newly-joined CEO Bubba Sandford, Sonoma Pharmaceuticals Inc (NASDAQ: SNOA) announced substantial cost-cutting measures, including reductions ought its workforce and management. This will aid the corporation ought diminish its cash burn and concentrate spending above growth.
"The chief reductions were at the company's consulting expenses, manufacturing energy and manufacturing expenses," Sonoma said.
The stock rose 2.1 percent ought $1.08 at after-hours trading.
FDA Approves Aerie's Eye strain Drug
Aerie Pharmaceuticals Inc (NASDAQ: AERI) said the FDA approved its Rocklatan, or netarsudil and latanoprost ophthalmic solution, 0.02%/0.05%, although a treatment alternative although reducing elevated intraocular strain at patients with open-angle glaucoma or ocular hypertension. The corporation said it plans ought launch Rocklatan at the U.S. at the second belt of 2019.
Separately, the corporation announced net cash burn and net revenue guidance although 2019, accounting although the Rocklatan launch, expecting net cash burn at $130 million ought $140 million and net revenues at $110 million ought $120 million.
The stock tacked above 2.58 percent ought $47 at after-hours trading.
See Also: Attention Biotech Investors: signal Your Calendar although These March PDUFA Dates
AEterna Zentaris Explores Strategic Options, Including Sale
AEterna Zentaris Inc. (NASDAQ: AEZS) said its board has formed a special committee of independent directors ought publication strategic options. The corporation too said the committee has approved the appointment of the corporation of Torreya, a global investment bank specializing at life sciences although its economical advisor.
The options being considered contain licensing of macimorelin outer of the United States and Canada, other monetization transactions relating ought macimorelin or the latent sale of the company
View more salary above IBB
The stock rallied 6.5 percent ought $3.93 at after-hours trading.
Neovasc ought offer Shares
Neovasc Inc (NASDAQ: NVCN) commenced a proposed underwritten public offering of general shares. The corporation said it intends ought use the net proceeds although the development and commercialization of the Neovasc Reducer, the development of the Tiara and commonplace corporate and working chief purposes.
The stock fell 5.32 percent ought 50 cents at after-hours trading.
J&J Submits sBLA although Approval of Expanded symptom although Multiple Myeloma Drug
Johnson & Johnson (NYSE: JNJ)'s Janssen unit said it has submitted a sBLA although Darzalex at mixture with lenalidomide and dexamethasone although the treatment of patients with newly diagnosed multiple myeloma who are ineligible although autologous stem jail transplant.
Darzalex has already been approved ought heal previously-treated multiple myeloma patients.
NovaBay Trims U.S. Sales Force, Announces Departure Of Interim CEO
NovaBay Pharmaceuticals, Inc. (NYSE: NBY) announced a strategic touch at its U.S. commercialization tactic ought hind sales growth of eyecare product Avenova and affirm charge effectiveness.
To align with the strategic shift, the corporation reduced its U.S. commercial salesforce from 45 ought 15 domain sales representatives. The corporation too announced the resignation of interim CEO, CFO and Treasurer Jack McGovern, cabin it named its direct independent director Paul Freiman although Chairman of the board.
The corporation too named SVP and commonplace admonish Justin Hall although interim principal and CEO, too although Corporate Controller Jason Raleigh although interim CFO and Treasurer.
Earnings
Cara Therapeutics Inc (NASDAQ: CARA) reported a fourth-quarter loss of 52 cents per division above revenues of $5.5 million. at comparison, the corporation reported a loss of 43 cents per division at the year-ago period. Analysts had expected a wider loss of 58 cents per share.
The stock rose 11.82 percent ought $19.49 at after-hours trading.
Verastem Inc (NASDAQ: VSTM) reported a loss of 37 cents per division although its fourth belt compared ought a loss of 43 cents per division final year. Revenues came at at $1.21 million.
Verastem's first commercial product Duvelisib, or Copiktra, was approved final September although treating grown-up patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma after at least two preceding therapies.
The net revenues although the fourth quarter, comprised fully of Copiktra sales, was less than half of what most analysts had expected.
The stock plunged 17.90 percent ought $2.66 at after-hours trading.
On The Radar Earnings
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