Shares of Alnylam Pharmaceuticals Inc. (ALNY) soared 38.7% to $104.19 in morning trading on Wednesday, Sept. 20, after the Cambridge, Mass.-based company and Sanofi Genzyme unveiled positive topline results from a Phase 3 study of patisiran, which is being developed for patients with hereditary ATTR amyloidosis with polyneuropathy.
Meanwhile, shares of Karyopharm Therapeutics Inc. (KPTI) rose 2.8% to $10.81 after the Newton, Mass.-based company announced a successful outcome from the Phase 2 portion of a Phase 2/3 study of selinexor in patients with previously treated, advanced unresectable dedifferentiated liposarcoma.
Shares of Iovance Biotherapeutics Inc. (IOVA) were down 11.1% to $7.57 after the San Carlos, Calif.-based firm after the market close on Tuesday said it plans to sell $50 million of its common stock in an underwritten public offering. Iovance plans to give underwriters a 30-day option to buy up to $7.5 million of stock at the public offering price, less the underwriting discounts and commissions.
Iovance said it plans to use the proceeds for ongoing clinical studies, working capital and other general corporate purposes.
Other biotech movers include Nabriva Therapeutics plc (NBRV) , down 9% to $8.36. The firm on Tuesday said it had priced its public offering of 9.4 million shares at $8.50 apiece. Nabriva has also given underwriters a 30-day option to buy up to an additional 1.4 million shares. On Monday Nabriva announced positive topline results for the use of its lefamulin against community-acquired bacterial pneumonia.
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