DVB Technologies (NASDAQ:DVBT) shares jumped by a quarter to US$26.14 after the bioparma moved a step closer to filing a marketing application for its Viaskin Peanut allergy treatment.
The drug narrowly failed a phase III trial back in October, but DVB hinted that the US FDA might be giving it a pass, saying that the regulator was “supporting submission” of the application.
DBV added that it plans to file the application in the second half of this year.
Water management and infrastructure services group Layne Christensen Co (NASDAQ:LAYN) saw its stock surge 16% to US$14.65 after it agreed to be bought out by Granite Construction Inc (NYSE:GVA) in a stock-for-stock deal valued at US$565mln including debt.
Stroke specialist InspireMD Inc (NYSE:NSPR) was another gainer, adding 7.1% to trade at US$5.38, although it had been up by as much as 30% earlier in the day.
InspireMD saw sales of its CGuard mesh stent more than triple in 2017 as it grows market share around the world, while boss James Barry said the business has got off to a “very strong start” in 2018.
One pharma stock not having a good hump day was Tetraphase Pharmaceuticals Inc (NASDAQ:TTPH) after its treatment for complicated urinary tract infections failed a late-stage clinical trial.
The drug missed a number of endpoints in the Ignite 3 study, which pitted it against Merck & Co Inc’s (NYSE:MRK) ertapenem treatment which is the current gold standard. Shares dived 60.4% to US$2.15.
It seems Wednesday was a day for trial failures as Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) shed almost half of its value after its treatment for HIV-associated liver disease disappointed in a phase IIa study.
Galmed said the trial showed that Aramchol was no more effective than the placebo at treating HIV patients over 12 weeks. The stock dived 42.4% to US$5.45.