Here's a roundup of top developments in the biotech space over the last 24 hours:
Stocks In Focus
Pfizer, Africa CDC Strikes COVID-19 Antiviral Pact
According to a Reuters report, Africa's public health body signed a memorandum of understanding with Pfizer Inc (NYSE:PFE), allowing African countries to access Paxlovid at cost.
The news comes just a few months after researchers with the Drugs for Neglected Diseases Initiative reported that they were denied access to Paxlovid for use in a large study in 10 African countries that aim to find treatments for mild to moderate COVID-19.
RVL Pharma Sees Q2 Upneeq Sales of Around $8M
RVL Pharmaceuticals plc (NASDAQ:RVLP) announced preliminary Q2 FY22 sales from Upneeq of $8.4 million, up 42% sequentially.
The company also announced that from February through June of 2022, it had received orders from approximately 2,200 cumulative unique medical aesthetics practices.
RVL Pharma also reaffirmed its Q4 Upneeq sales guidance of $20 - $25 million.
Dare Biosciences Secures Grant Payment Of Around $8M From Bill & Melinda Gates Foundation
Daré Bioscience Inc (NASDAQ:DARE) received a grant payment of approximately $7.96 million from the Bill & Melinda Gates Foundation.
The payment was made under a grant agreement with the Foundation announced in June 2021. The company may receive up to $48.95 million to support technology development and preclinical activities to advance DARE-LARC1 in nonclinical proof of principle studies.
As of July 7, Dare received approximately $19.41 million in non-dilutive funding under the agreement.
Lineage Cell Therapeutics' CFO Resigns
Lineage Cell Therapeutics Inc's (NYSE:LCTX) CFO Kevin Cook will resign effective July 8.
Effective July 8, Brian Culley, Lineage's CEO, will serve as Lineage's interim CFO and principal financial officer.
Alexandra Hernandez, Lineage's Sr. Director of Finance and Controller, will serve as interim principal accounting officer.
Shares closed 2.44% lower at $1.60 during after-hours trading on Thursday.
Merck Partner Joins Forces With Emergent Bio To Increase Access To Ebola Treatment
Emergent BioSolutions Inc (NYSE:EBS) has agreed to create a collaboration with Ridgeback Biotherapeutics to expand the availability of Ebanga (Ansuvimab-zykl) approved for Ebola.
Emergent will be responsible for the manufacturing, sale, and distribution of Ebanga in the U.S. and Canada.
Ridgeback Bio will serve as the global access partner for Ebanga, ensuring it remains available to patients in endemic countries free of charge through Ridgeback Bio's compassionate use program.
ADC Therapeutics, Sobi Ink Licensing Pact For Lymphoma Drug
ADC Therapeutics SA (NYSE:ADCT) has entered into an exclusive license agreement with Swedish Orphan Biovitrum AB (OTC: BIOVF) for the development and commercialization of Zynlonta for all hematologic and solid tumor indications outside of the U.S., Greater China, Singapore, and Japan.
ADC Therapeutics will receive an upfront payment of $55 million.
It is eligible to receive $50 million upon regulatory approval of Zynlonta in third-line diffuse large b cell lymphoma by the European Commission and up to approximately $330 million in additional regulatory and sales milestones.
Athersys Inc (NASDAQ:ATHX) has terminated its equity purchase agreement with Aspire Capital Fund LLC, effective immediately.
The company continues to evaluate alternative financing options to support continuing operations.
Shares are up 8.15% at 28 cents during the premarket session.
Offerings
Nurix Therapeutics Inc (NASDAQ:NRIX) announced a private placement of direct offering of pre-funded warrants to purchase 3.9 million shares at $13.939 per pre-funded warrant for gross proceeds of approximately $55 million.
Provention Bio Inc (NASDAQ:PRVB) announced a private placement of approximately $60 million shares and warrants acquiring 13.3 million additional shares.
The warrants will be exercisable at an exercise price of $6.00 per share.
Annexon Inc (NASDAQ: ANNX) announced a private placement of approximately $130 million.
Shares are up 3.02% at $4.09 during the premarket session.
