The company, however, said top-line results showed significant positive changes in two of the three key secondary points. It also said interim analysis of the ongoing extension study showed further reductions in hyperphagia of 48% after six months of DCCR treatment.

The stock was down 48.15% at $1.68 premarket Tuesday.

See also: The Week Ahead In Biotech: Viela FDA Decision, Hematology Conference Take Center Stage

NanoViricides' Coronavirus Candidates Found Superior To Remdesivir In Animal Models

NanoViricides Inc (NYSE: NNVC) said it has signed a memorandum of understanding with respect to antiviral treatments for coronavirus-derived human infections with TheraCour Pharma. The MoU specifically provides a limited, exclusive license to all R&D toward human clinical trials. NanoViricides said it intends to retain an independent consultant for the evaluation of the assets in order to develop the full license agreement. The company said the broad-spectrum anti-coronavirus drug candidates that it is developing showed strong effectiveness in an animal model of human coronavirus disease, potentially superior to remdesivir in this particular model.

The company cautioned that no conclusions to that effect can be drawn with the limited dataset. NanoViricides said prior to filing for human clinical trials, it plans on conducting studies to further determine the effectiveness against SARS-CoV-2, perform drug development studies for safety/toxicology and request a pre-IND Meeting with the FDA for regulatory guidance.

The stock was up 7.18% at $7.02 premarket.

Agios Blood Disorder Drug Receives Orphan Desgination

Agios Pharmaceuticals Inc (NASDAQ: AGIO) said the FDA granted an orphan drug designation to its first-in-class pyruvate kinase-R activator mitapivat for the treatment of patients with thalassemia.

Mitapivat is an investigational, oral, small molecule allosteric activator of wild-type and a variety of mutated PKR enzymes.

The stock advanced 1.68% to $53.11 in after-hours trading.

Global Blood To Seek Label Expansion For Sickle Cell Disease Drug

Global Blood Therapeutics Inc (NASDAQ: GBT) said it plans to seek label expansion for the potential use of Oxbryta for the treatment of sickle cell disease in children ages 4-11 following a Type B meeting with the FDA.

View more earnings on IBB

It is currently approved in the U.S. to treat SCD in adults and adolescents 12 and older.

The stock gained 4.8% to $69 in after-hours trading.

Ardelyz Appoints Justin Renz As CFO

Ardelyx Inc (NASDAQ: ARDX) announced the appointment of biopharma industry veteran Justin Renz to the position of CFO.

Erytech Pharma Reports Positive Preliminary Results For Leukemia Drug

In an update on the ongoing Phase 2 trial of eryaspase in second-line acute lymphoblastic leukemia patients, Erytech Pharma SA (NASDAQ: ERYP) said the trial, which is being conducted at 22 clinical sites in the Nordic and Baltic countries of Europe, has reached its target enrollment of 50 patients. The company also said preliminary findings from the study suggest that eryaspase achieved the target level and duration of asparaginase activity in these patients.

Additionally, the addition of eryaspase to the combination chemotherapy was associated with an acceptable tolerability profile, enabling the majority of these patients to receive their fully intended courses of asparginase.

Enzo Biochem Posts Q3 Loss

Enzo Biochem, Inc.'s (NYSE: ENZ) third-quarter revenues fell 14% year-over-year to $16.9 million, dragged by a 28% reduction in accession volume due to factors related to the COVID-19 pandemic. The company reversed from a profit of 47 cents per share to a loss of 21 cents per share.

The stock moved down 6.57% to $2.56 in after-hours trading.

Offerings

Cerecor Inc (NASDAQ: CERC) said it intends to offer for sale shares of its common stock in an underwritten public offering. All the shares are being offered by Cerecor.

The stock retreated 9.94% to $2.90 in after-hours trading.

Replimune priced its upsized public offering of 2.826 million shares at $23 per share. The company also said it priced the public offering of pre-funded warrants to purchase 1.523 million of its common stock at $22.999 per pre-funded warrant. The company expects to raise $100 million in aggregate gross proceeds. All the securities earmarked for the offering are sold by the company. The company expects the offering to close June 11.

The stock was plunging 17.39% to $2.66 premarket.

Retrophin Inc (NASDAQ: RTRX) priced its underwritten public offering of 6.5 million shares of its common stock at $15.50 per share for gross proceeds of about $100.8 million. All of the shares are being sold by the company. The offering is expected to close June 11.

In after-hours trading, the stock fell 3.44% to $15.98.

Fate Therapeutics Inc (NASDAQ: FATE) priced its underwritten public offering of 6.182 million shares of its common stock at $28.31 per share, before underwriting discounts, for an aggregate offering of approximately $175 million. All shares of common stock to be sold in the offering are being offered by the company. The offering is expected to close on or about June 11.

The stock rose 2.44% to $29 in after-hours trading.

On The Radar Clinical Readouts, Presentations

Novavax, Inc. (NASDAQ: NVAX) said its President of Research and Development Gregory Glenn will join other vaccine industry leaders for a panel discussion at 2020 BIO Digital, discussing COVID-19 vaccines. The panel discussion is scheduled for 11:30 am.

Related Link: Novavax Analyst Says DoD Funding Reflects Conviction In Platform, Ability To Deliver On Vaccine

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