Shares of Edge Therapeutics Inc (NASDAQ:EDGE) climbed Thursday after updating results from its ongoing analyses of the Phase 3 study, dubbed NEWTON 2, that evaluated its EG-1962 to treat adults with aneurysmal subarachnoid hemorrhage.
The National Institutes of Health estimates that approximately 9 out of 100,000 people across the world suffer from some variation of aneurysmal subarachnoid hemorrhage — a bulging blood vessel in the brain that bursts and leads to brains damage or death if not treated promptly.
"This analysis showed that in the study's primary endpoint, 45% (58/129) of subjects treated with a single intraventricular injection of EG-1962 experienced a favorable outcome (a score of 6 to 8 on the extended Glasgow Outcome Scale, or GOSE) at Day 90, compared to 41% (56/137) of subjects treated with oral nimodipine," the company said.
The stock jumped nearly 8% to US$1.11.
READ: PEDEVCO erases more than US$75mln of debt with strategic investment; shares surge
PEDEVCO Corp (NYSE:PED), also known as Pacific Energy Development, has closed a strategic investment, restructuring its balance sheet to erase more than US$75mln in debt. The debt was replaced with US$7.7mln in three-year 8% senior note funded by SK Energy LLC, run by Simon Kukes. The oil industry investor is the former CEO of Russian oil giant Yukos and has made deals with Phillips, Amoco and Hess Corp.
Shares of the California-based company jumped more than 42% to US$3.70.
READ: Apogee Enterprises reports better-than-expected fiscal 1Q results, raises full-year outlook
Apogee Enterprises Inc (NASDAQ:APOG) announced better-than-expected fiscal first-quarter results, beating analyst estimates on earnings and revenue. The glass and metal company reported earnings of US$0.54 per share on revenue of US$336.53mln, compared with US$0.56 EPS on revenue of US$272.31mln in the previous year’s first quarter.
Shares of the Minneapolis-based company jumped more than 5% to US$45.56 in morning trade.
Arsanis Inc (NASDAQ:ASNS) plummeted after the biotech discontinued its Phase 2 trials for its pneumonia treatment. Piper Jaffray analysts were concerned by the trial’s failure, downgrading the shares to Neutral from Overweight the price target to US$7 from US$23, according to a note shared by The Fly.
Shares of the Massachusetts-based company plummeted nearly 68.6% to US$5.72 in morning trading.
Zafgen Inc (NASDAQ:ZFGN) unveiled the pricing of a secondary public offering, which was announced Wednesday. The clinical-stage biopharma group which develops therapies for complex metabolic diseases will offer an additional 8 million shares of its common stock at a price of US$7.50 per share to raise gross proceeds of US$60mln.
Zafgen shares fell nearly 4% to US$8.17, as investors typically do not like share dilution.
Contact Uttara Choudhury at uttara@proactiveinvestors.com
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