FDA Greenlights Neurocrine Biosciences’ (NBIX) VMAT2 Inhibitor INGREZZA; Novan (NOVN) Soars on Athlete’s Foot Trial Data
Shares of Neurocrine Biosciences, Inc. (Nasdaq:NBIX) climbed more than 20% in after-hours trading Tuesday as the U.S. Food and Drug Administration (FDA) gave green light to its selective vesicular monoamine transporter 2 (VMAT2) inhibitor INGREZZA (valbenazine) capsules to treat adults with tardive dyskinesia, a neurological disorder marked by involuntary movements of the jaw, lips and tongue.
NBIX stock finished the regular session in positive territory by 2.90% (or +$1.17) at $41.48 with a total volume of 2.48M shares traded, representing a large increase in activity versus its average volume (3m) of 1.04M shares.
Neurocrine Biosciences, which discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders, has 87.11M shares outstanding and NBIX stock 52-week range is between $37.35and $55.15 per share. At close on Tuesday, the biotechnology company had a market capitalization of $3.61B
Novan Inc. (Nasdaq:NOVN) shares soared over 40% in pre-market trade Wednesday after the clinical-stage drug development company said that data from a mid-stage clinical trial showed that its broad-spectrum antifungal gel SB208 performed better than vehicle in treating tinea pedis (or athlete’s foot), confirming the fungicidal activity of nitric oxide.
NOVN stock closed at $5.20, down $0.24 (or -4.41%) on Tuesday’s trading session.
Novan, which focuses on the development and commercialization of nitric oxide-based therapies in dermatology, has 15.97M shares outstanding, market capitalization (intraday) of $83.04M and NOVN stock one-year range is from $3.52 to $30.90 per share.
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