Biotech Premarket Movers: Spectrum, BioCryst, Curis

Shares of Spectrum Pharmaceuticals (SPPI) were down 12% to $5.50 in premarket trading on Thursday. The Henderson, Nev.-based company, which focuses on hematology and oncology, after the market close on Wednesday reported a fourth-quarter net loss of $17.4 million, or 22 cents per basic and diluted share, compared with a net loss of $4.2 million, or 6 cents per basic and diluted share in the year-ago period. Revenue was $35.2 million, compared to $50.3 million in the same period in 2015.

BioCryst Pharmaceuticals (BCRX) shares were down 4.9% to $8. The Research Triangle Park, N.C.-based company on Wednesday said it is offering to sell $45 million of its common stock in an underwritten public offering. BioCryst, which focuses on treatments for rare and infectious diseases, said it plans to give the underwriters a 30-day option to buy up to an additional $6.75 million of its common stock.

Among the other stock movers is Curis (CRIS) , whose shares rose nearly 2% to $2.60. The Lexington, Mass.-based firm, which focuses on cancer treatment, on Thursday reported a fourth-quarter net loss of $11.3 million or 8 cents per share on both basic and diluted basis, compared with a net loss of $13.5 million, or 10 cents per share on both basic and diluted basis in the same period in 2015. Revenue for the quarter was $2.4 million, compared with $2.1 million in the year-ago period.

Also on Thursday, Curis announced that on March 6 it inked an agreement with HealthCare Royalty Partners for a $45 million debt transaction secured with future Erivedge royalties. Erivedge was developed and is marketed by Roche and its Genentech unit under a collaboration agreement between Curis and Genentech.

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