The Daily Biotech Pulse: Midatech Shelves Sale Plan, G1 Therapeutics Out-Licenses, Entera Bio Jumps On Survey Results

The Daily Biotech Pulse: Midatech Shelves Sale Plan, G1 Therapeutics Out-Licenses, Entera Bio Jumps On Survey Results

Scaling The Peaks

(Biotech Stocks Hitting 52-week Highs July 22)

  • ABIOMED, Inc. (NASDAQ: ABMD)

  • Bio-Rad Laboratories, Inc. Class A Common Stock (NYSE: BIO)

  • Bio-Rad Laboratories, Inc. Class B Common Stock (NYSE: BIO)

  • BioLife Solutions Inc (NASDAQ: BLFS)

  • CALLIDITAS THER/S ADR (NASDAQ: CALT)

  • Catalent Inc (NYSE: CTLT)

  • GENMAB A/S/S ADR (NASDAQ: GMAB)

  • Hologic, Inc. (NASDAQ: HOLX)

  • Horizon Therapeutics PLC (NASDAQ: HZNP)

  • Immunic Inc (NASDAQ: IMUX)

  • Intuitive Surgical, Inc. (NASDAQ: ISRG) (reported forecast-beating second-quarter results)

  • Medpace Holdings Inc (NASDAQ: MEDP)

  • Novo Nordisk A/S (NYSE: NVO)

  • Ocular Therapeutix Inc (NASDAQ: OCUL)

  • Otonomy Inc (NASDAQ: OTIC)

  • Penumbra Inc (NYSE: PEN)

  • Qiagen NV (NYSE: QGEN)

  • Quest Diagnostics Inc (NYSE: DGX)

  • ResMed Inc. (NYSE: RMD)

  • TFF Pharmaceuticals Inc (NASDAQ: TFFP)

  • West Pharmaceutical Services Inc. (NYSE: WST)

Down In The Dumps

  • (Biotech Stocks Hitting 52-week Lows July 22)

  • Akouos Inc (NASDAQ: AKUS)

  • AnPac Bio-Medical Science Co Ltd – ADR (NASDAQ: ANPC)

  • Forma Therapeutics Holdings Inc (NASDAQ: FMTX)

  • Fusion Pharmaceuticals Inc (NASDAQ: FUSN)

  • Gritstone Oncology Inc (NASDAQ: GRTS)

  • Nkarta Inc (NASDAQ: NKTX)

  • RENALYTIX AI ADR (NASDAQ: RNLX) (went public Friday)

  • Tricida Inc (NASDAQ: TCDA)

Stocks In Focus Midatech Terminates Sale Process, Strategic Review to Continue

Midatech Pharma PLC-ADR (NASDAQ: MTP), a drug delivery technology company, said it has terminated the formal sale process initiated in late April after it failed to receive any proposals from third parties.

The company said the wider strategic review announced March 31 continues, as it is considering all potential options for extracting value from its technologies and providing working capital.

As part of the ongoing strategic review process, the company said it is evaluating early stage proposals and expressions of interest from third parties for the potential acquisition of certain assets and/or a transaction that would constitute a reverse takeover under the AIM Rules.

G1 Therapeutics Out-Licenses Cancer Drug For Up To $310M

G1 Therapeutics Inc (NASDAQ: GTHX) announced the out-licensing of lerociclib to EQRx. Under the terms of the agreement, EQRx will gain exclusive rights for lerociclib in the U.S., Europe, Japan and all other global markets, excluding the Asia-Pacific region.

G1 will in turn receive an upfront cash payment of $20 million and will be eligible to receive development and commercial milestone payments of up to $290 million, plus tiered royalties ranging from the mid-single digits to mid-teens based on the annual net sales of lerociclib.