Highlights of weekly biotech stock moves
Regulatory, clinical and other milestones
ALK-Abello A/S (CSE:ALK-B) was up DKK26 to DKK441 on Friday after Merck & Co. Inc. (NYSE:MRK) said it submitted a BLA to FDA in January for its Grass Allergy Immunotherapy Tablet. Merck has exclusive North American rights from ALK-Abello, which markets the product as Grazax in Europe.
The stock was up DKK26 on the week.
Furiex Pharmaceuticals Inc. (NASDAQ:FURX) jumped $14.10 (66%) to $35.34 on Monday after FDA approved Type II diabetes products Nesina alogliptin, Kazano alogliptin/metformin and Oseni alogliptin/pioglitazone from partner Takeda Pharmaceutical Co. Ltd. (Tokyo:4502). The U.S. approvals trigger a $25 million milestone payment from Takeda to Furiex, which is also eligible for up to $33 million in global sales milestones, plus U.S. royalties of 7-12%. Takeda said it plans to launch the drugs in the U.S. this summer. The products are approved in Japan and under review in Europe.
Last week, Furiex gained $12.97 (61%) to $34.21.
Hyperion Therapeutics Inc. (NASDAQ:HPTX) gained $0.38 to $16.01 on Friday after