Shares of Lion Biotechnologies (LBIO) rose 18.9% to $7.25 in premarket trading on Friday. The San Carlos, Calif.-based firm said the first patient was dosed in the second cohort of its ongoing phase two study of LN-144 for the treatment of metastatic melanoma.
Shares of XBiotech (XBIT) were down 10.4% to $7.90. The Austin, Texas-based firm said in an 8-K filing on Thursday that the European Medicines Agency's Committee for Medicinal Products for Human Use had issued a negative opinion regarding XBiotech's marketing authorization application for its lead product candidate in Europe.
"The Company plans to promptly notify the EMA of its request for a re-examination and will have 60 days to submit its grounds for appeal," XBiotech said, adding that it believes it has a "strong position for re-examination."
Other biotech stock movers include Halozyme Therapeutics (HALO) , down 7.1% to $13.15. The San Diego-based firm on Thursday said it priced an underwritten public offering of 10 million shares at $12.50 apiece, which would generate gross proceeds of $125 million before deducting the underwriting discounts and commissions and estimated offering expenses.
All shares in the offering are being sold by Halozyme. The company has also given underwriters a 30-day option to buy up to an additional 1.5 million shares at the public offering price, less the underwriting discounts and commissions.
Halozyme said it plans to use the net proceeds for the continued development of its PEGPH20 oncology program, as well as for other general corporate purposes.
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