Highlights of weekly biotech stock moves
Regulatory, clinical and other milestones
Corcept Therapeutics Inc. (NASDAQ:CORT) fell $0.30 (16%) to $1.60 on Wednesday after FDA's Endocrinologic and Metabolic Drugs Advisory committee voted 10-0 that efficacy and safety data for pasireotide from competitor Novartis AG (NYSE:NVS; SIX:NOVN) support approval to treat Cushing's disease. The PDUFA date is not disclosed. Corcept markets Korlym mifepristone, the only drug approved in the U.S. to treat Cushing's syndrome.
Last week, the biotech's shares lost $0.64 (33%) to $1.31.
ImmunoGen Inc. (NASDAQ:IMGN) was up $0.24 to $11.25 last week after FDA accepted and granted Priority Review to a BLA from Roche (SIX:ROG; OTCQX:RHHBY) and its Genentech Inc. unit for trastuzumab emtansine (T-DM1) to treat HER2-positive, unresectable locally advanced or metastatic breast cancer in patients who have received prior treatment with Herceptin trastuzumab and a taxane-based chemotherapy. The PDUFA date is Feb. 26. The compound uses ImmunoGen's TAP antibody-conjugate technology.