Healthcare Roundup – European advisory backs Gilead’s remdesivir for COVID-19, Ekso Bionics shares rocket
European advisory backs Gilead’s remdesivir for COVID-19
The European Medicines Agency’s advisory group CHMP has adopted a positive opinion backing approval of Gilead Sciences’ (NASDAQ:GILD) remdesivir for patients at least 12 years old with COVID-19 pneumonia on supplemental oxygen.
A final decision from the European Commission usually takes ~60 days but is likely to come much sooner in this case.
Shares up a fraction premarket.
Ekso Bionics shares rocket on FDA nod on exoskeleton for brain injury
Ekso Bionics climbs (EKSO +81.6%) is up big in early trade on a whopping 184x surge in volume in reaction to its announcement that the FDA has approved robotic exoskeleton EksoNR for use in patients with acquired brain injury (ABI), the first such device approved for this population.
EksoNR is the next-generation version of the company’s first robotic exoskeleton, approved in 2016 for stroke and spinal cord injury rehabilitation.
Khiron Life Sciences partners to enter Germany’s medical cannabis market
Khiron Life Sciences (OTCQX:KHRNF +3.3%) partners with Germany’s Nimbus Health to expand the distribution of its medical cannabis products into Germany, following the recent entry into the United Kingdom.
First import and sales of Khiron branded EU GMP medical cannabis products are expected in 3Q20 through Nimbus Health’s network of domestic pharmacies.
“Khiron is now well positioned to service this rapidly expanding market in Germany,” said Tejinder Virk, president of Khiron Europe.
Citron tweets on animal spirits driving Inovio Pharmaceuticals
In a tweet, noted short seller Citron Research reiterates its bearish view on Inovio Pharmaceuticals (INO +14.4%), a favorite among Robinhood traders.
In April, it published a report questioning the veracity of its assertion that its “secret algorithm” enabled it to design a COVID-19 vaccine candidate in three hours, comparing the company to one-time early-stage star Theranos, since imploded after its false technology claims were exposed.
Citron sees the stock returning to $14 (~49% downside risk) in “short order.”
Shares are up over eight-fold this year. The company sports a $4.4B market cap despite no product sales and no track record of advancing candidates into the marketplace.
Acreage Holdings EPS beats by $0.56, misses on revenue
Acreage Holdings (OTCQX:ACRGF): Q1 Non-GAAP EPS of $0.16 beats by $0.56; GAAP EPS of -$1.85 misses by $1.51.
Revenue of $37.61M (+64.7% Y/Y) misses by $5.96M.