FDA Approves Sanofi's Meningococcal Vaccine

Sanofi SA (NASDAQ: SNY) announced FDA approval for MenQuadfi — Meningococcal Conjugate Vaccine — for the prevention of invasive meningococcal disease in persons 2 years and older.

The stock was trading 0.76% higher at $48.74 in Friday's premarket session.

See also: Some Biogen Analysts Unimpressed By Explanation For Aducanumab Filing Delay

Pluristem Secures $53.92M To Advance Pipeline Asset For COVID-19 Treatment

Pluristem Therapeutics Inc. (NASDAQ: PSTI) said the European Investment Bank has approved 50 million euros ($53.92 million) in non-dilutive financing for supporting its R&D in the EU to further advance its regenerative cell therapy platform, and to assist moving the products in its pipeline to market, with a special focus on clinical development of PLX cells as a treatment for complications associated with COVID-19.

The funds will be disbursed in three tranches, with the first tranche consisting of 20 million euros, according to the company.

In premarket trading Friday, Pluristem shares were climbing 17.28% to $12.15.

Earnings

Edwards Lifesciences Corp's (NYSE: EW) first-quarter sales rose 14% to $1.1 billion and adjusted EPS climbed 14% to $1.51, ahead of the $1.33-per-share consensus estimate.

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Citing the impact from the COVID-19 pandemic, the company lowered its 2020 sales guidance from a range of $4.6 billion-$5 billion to $4 billion-$4.5 billion. The adjusted EPS guidance was lowered from $6.15-$6.40 to $4.75-$5.25.

The stock was up 6.99% at $236.50 in Friday's premarket session.

Merit Medical Systems, Inc. (NASDAQ: MMSI) reported first-quarter worldwide revenue of $243.5 million, up 2.2%, and non-GAAP EPS of 38 cents. Analysts estimated EPS of 26 cents. The company withdrew its 2020 guidance, citing the uncertainty associated with the COVID-19 pandemic.

The stock rose 1.88% to $38.57 in after-hours trading.

Takeda Divests Non-Core OTC, Prescription Drugs In Europe For Up To $670M

Takeda Pharmaceutical Co Ltd (NYSE: TAK) said it has entered into an agreement to divest a portfolio of select non-core OTC and prescription pharmaceutical products sold in Europe and two manufacturing sites located in Denmark and Poland to Danish pharma company Orifarm Group for up to $670 million.

Takeda said the portfolio to be divested fetched sales of $230 million in fiscal year 2018, driven by strong sales of cough/cold and vitamin OTC brands as well as prescription products Warfarin and Levaxin.

On The Radar IPO

Oric pharma, a clinical-stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, priced its upsized IPO of 7.5 million shares at $16 per share, the upper end of the previously estimated price range of $14-$16.

The company's shares will be listed on the Nasdaq under the ticker symbol "ORIC."

Related Link: Moderna Gains More Than 40% This Week: What You Should Know

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• The Daily Biotech Pulse: Immunic To Develop COVID Treatment, Gilead Strikes IO Partnership

• The Daily Biotech Pulse: Applied DNA Begins Validating COVID-19 Test, Cara's Positive Readout, Novan Explores Strategic Alternatives

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