ALBO Spikes, GLYC Abuzz, FDA Approves 1st Generic Strattera For ADHD

Today’s Daily Dose brings you news about the first generic Strattera for the treatment of ADHD; marketing clearance of Intuitive Surgical’s new da Vinci X Surgical System; the spike in stock price of Albireo; leadership changes at MannKind and a new once-daily option for the treatment of HIV-1 infection.

Read on…

Shares of Albireo Pharma Inc. (ALBO) rose 14% on Tuesday, following completion of its $51.9 million public offering including exercise of underwriters’ option to purchase additional shares.

The Company’s lead product candidate A4250 is all set to enter phase III study in patients with progressive familial intrahepatic cholestasis (PFIC) in the second half of 2017.

Progressive familial intrahepatic cholestasis is a disorder that causes progressive liver disease, which typically leads to liver failure. (Source: Genetics Home Reference).

In a recently completed open label Phase 2 clinical trial in children with cholestatic liver diseases, most patients showed both an improvement in pruritus (severe itching) across multiple scales and a reduction in serum bile acid levels after four weeks of treatment with A4250.

ALBO closed Tuesday’s trading at $20.44, up 14.00%.

The FDA has approved the first generic versions of Strattera to treat attention-deficit/hyperactivity disorder in pediatric and adult patients.

Apotex Inc., Teva Pharmaceuticals USA Inc., Aurobindo Pharma Limited and Glenmark Pharmaceuticals Limited are the companies that have been given the go-ahead to market generic versions of Strattera in multiple strengths.

Strattera, developed by Eli Lilly and Company (LLY), recorded sales of $854.7 million in 2016.

LLY closed Tuesday’s trading at $78.35, up 0.38%.

GlycoMimetics Inc. (GLYC) has closed its underwritten public offering of 8.05 million shares of its common stock at a public offering price of $11.50 per share, including exercise of underwriters’ option to purchase additional shares.

The aggregate gross proceeds to GlycoMimetics from the offering were…

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