Here's a roundup of top developments in the biotech space over the last 24 hours.
Stocks In Focus
Harpoon Announces Departure Of Chief Medical Officer
Harpoon Therapeutics, Inc. (NASDAQ:HARP) announced that Natalie Sacks, chief medical officer, will be leaving the company effective June 1, 2022. Sacks will serve as a consultant to Harpoon through the end of the year.
The stock was slipping 9.66% to $4.30 in premarket trading.
Genmab Gets Adverse Tribunal Ruling On Darzalex Licensing Pact
Genmab A/S (NASDAQ:GMAB) announced that the arbitral tribunal decided in favor of Johnson & Johnson's (NYSE:JNJ) Janssen unit in the arbitration of two matters arising under its licensing agreement regarding daratumumab. Daratumumab, sold in the U.S. under the brand name Darzalex, was out-licensed by Genmab to Janssen.
Genmab has the right to seek review of the award, which it must do within a limited period of time. Such review should conclude with the issuance of a final award prior to the end of 2022. Genmab said it is currently considering its options.
Genmab shares were down 5.24% to $36.55 in premarket trading.
Quidel Expects Q1 Revenues Above Consensus Estimate
Quidel Corporation (NASDAQ:QDEL) preannounced first-quarter revenues in the range of $990 million to $1,000 million, up 164% to 166%. Analysts, on average, estimate revenues of $817.3 million.
COVID-19 product revenues are expected to be approximately $836 million, composed of approximately $657 million in QuickVue COVID-19 test revenue and approximately $138 million in Sofia SARS antigen test revenue.
The stock was advancing 1.55% to $119.46 in premarket trading.
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Evotec Designates Another Program In Neuroscience Collaboration With Bristol-Myers Squibb
Evotec SE (NASDAQ:EVO) said it has reached another program designation in its neuroscience collaboration with Bristol-Myers Squibb Company (NYSE:BMY). This has triggered a $16 million payment to Evotec.
The neuroscience collaboration with Bristol Myers Squibb was initiated in December 2016. It has also generated a first clinical stage program with EVT8683 as well as a pre-clinical stage pipeline.
Zynex Preannounces In-line Revenue For Q1
Zynex, Inc. (NASDAQ:ZYXI) announced preliminary and unaudited revenue for the first quarter of $30.5 million to $31.5 million and adjusted EBITDA between $3 million and $4 million. Analysts, on average, estimate revenues of $31.04 million.
"Our Q1 2022 revenue estimate is approximately 26% higher than Q1 2021 and adjusted EBITDA is estimated to increase approximately 900% year over year," said Thomas Sandgaard, CEO of Zynex.
NexImmune Gains On Insider Transactions
NexImmune, Inc. (NASDAQ:NEXI) disclosed in a series of filings that several of its executives exercised their options to buy shares in the company.
The stock was climbing 3.69% to $4.22 in premarket trading.
On The Radar
Clinical Readouts/Presentations
American Association for Cancer Research Annual Meeting Presentations
IO Biotech, Inc. (NASDAQ:IOBT): Phase 1/2 study of IO102-IO103 in combination with Bristol-Myers Squibb's Opdivo in metastatic melanoma
MEI Pharma, Inc. (NASDAQ:MEIP): Data on efficacy and immune profiling of zandelisib (ME-401) in a preclinical model of chronic lymphocytic leukemia
Rubius Therapeutics, Inc. (NASDAQ:RUBY): updated clinical data from the Phase 1 arm of the Phase 1/2 clinical trial of RTX-240 in patients with advanced solid tumors and relapsed/refractory acute myeloid leukemia (1:15 p.m. ET)
