Bio Roundup: Nobel Pursuit, Fundraising Fruit, A Rhythmic IPO & More
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clinical studies next year, a new CEO will be in charge. Founding CEO Rodger Novak is stepping aside, and current president and chief business officer Samarth Kulkarni will take the reins Dec. 1.
—A BioHaven (NYSE: BHVN) drug for spinocerebellar ataxia, a rare degenerative brain disorder, failed to beat a placebo in a clinical trial, sending shares of the New Haven, CT-based biotech down more than 28 percent.
—Belgian biotech Ablynx filed for a U.S. IPO right after reporting positive Phase 3 results for its drug caplacizumab, a treatment for a rare blood clotting disease.
—Acadia Pharmaceuticals of San Diego is pushing its drug pimavanserin (Nuplazid) into Phase 3 to study its effect on dementia-related psychosis after the FDA gave it a “breakthrough” designation. The new study will supercede Acadia’s previous plans to study pimavanserin in psychosis specific to Alzheimer’s patients. Pimavanserin is already approved for Parkinson’s-related psychosis.
—Motif Bio (NASDAQ: NTFB) reported positive Phase 3 results for its antibiotic iclaprim. The London firm said it would apply for marketing approval in the U.S.
—Coming off the failure of its C. difficile treatment, microbiome drug maker Seres Therapeutics (NASDAQ: MCRB) reported what it considered positive topline Phase 1b data from a 58-patient ulcerative colitis study. It wasn’t positive enough for investors, who drove the stock down nearly 25 percent.
Frank Vinluan contributed to this report.