 Heres a roundup of top developments in the biotech space over the last 24 hours:Scaling The Peaks Biotech Stocks Hitting 52-week Highs June 16 Applied Molecular Transport Inc NASDAQ: AMTI went public June 5 Avidity Biosciences Inc NASDAQ: RNA went public Friday BioXcel Therapeutics Inc NASDAQ: BTAI Brainstorm Cell Therapeutics Inc NASDAQ: BCLI announced granting of SME status by the European Medicines Agency that gives it significant financial incentives Burning Rock Biotech Ltd NASDAQ: BNR went public Friday Castle Biosciences Inc NASDAQ: CSTL Celldex Therapeutics, Inc. NASDAQ: CLDX Celsion Corporation NASDAQ: CLSN Fennec Pharmaceuticals Inc NASDAQ: FENC GENMAB ASS ADR NASDAQ: GMAB Keros Therapeutics Inc NASDAQ: KROS Momenta Pharmaceuticals, Inc. NASDAQ: MNTA announced positive top-line data from an interim analysis of midstage study results from nipocalimab in myasthenia gravis Neubase Therapeutics Inc NASDAQ: NBSE Nymox Pharmaceutical Corp NASDAQ: NYMX Ocular Therapeutix Inc NASDAQ: OCUL Passage Bio Inc NASDAQ: PASG TELA Bio Inc NASDAQ: TELA Vaxcyte Inc NASDAQ: PCVX went public FridayDown In The Dumps Biotech Stocks Hitting 52-week Lows June 16 CALLIDITAS THERS ADR NASDAQ: CALT went public June 5 Evofem Biosciences Inc NASDAQ: EVFM Sonnet Biotherapeutics Holdings Inc NASDAQ: SONNStocks In Focus Lilys Rapid-Acting Insulin Injection Gets FDA Nod; Biopharma Announces Positive Results For Breast Cancer Study Eli Lilly And Co NYSE: LLY said the FDA has approved Lyumjev insulin lispro-aabc injection 100 unitsmL and 200 unitsmL, its new rapid-acting insulin indicated to improve glycemic control in adults with Type 1 and Type 2 diabetes. The company said the drug acts similar to how natural insulin works after meals in people without diabetes. The company also said it is working to make available Lyumjev to adults with diabetes in the U.S. as early as possible.Separately, the company announced its Verzenio in combination with standard adjuvant endocrine therapy has met the primary endpoint of invasive disease-free survival, significantly decreasing the risk of breast cancer recurrence or death compared to standard adjuvant ET alone. The results are from a pre-planned interim analysis of the Phase 3 monarchE study.The stock was up 8.54 at 153.60 premarket Tuesday.Otonomy On Track For 3 Clinical Trial Readouts; Cash Adequate Through Mid-2021 In an update on its pipeline progress and liquidity in the wake of the COVID-19 pandemic, Otonomy Inc NASDAQ: OTIC said it has clinical trial catalysts in the coming months for three novel product candidates: OTIVIDEX Phase 3 clinical trial in Menieres disease in the first quarter of 2021 Results from exploratory efficacy cohort from the Phase 12 clinical trial of OTO-313 in tinnitus due in July 2020 Results from the Phase 12 study of OTO-413 in hearing loss due in the fourth quarter of 2020The company maintained its 2020 GAAP operating expense guidance at 45 million to 48 million and non-GAAP operating expense guidance at 35 million to 38 million. The company also said it expects that its current cash, cash equivalents, and short-term investments will be sufficient to fund company operations through mid-2021. The stock was up 6.16 at 3.10. GlaxoSmithKline Announces Strategic Partnership With IDEAYA In Synthetic Lethality GlaxoSmithKline plc NYSE: GSK and Ideaya Biosciences Inc NASDAQ: IDYA announced a strategic partnership in synthetic lethality, an emerging field in oncology, which included the latters synthetic lethality programs MAT2A, Pol Theta and Werner Helicase. Both these programs are to reach clinical trials within the next three years, the companies said.According to the agreement, IDEAYA is to lead the MAT2A program through early clinical development and meet all costs before GlaxoSmithKline exercises options. Thereafter, IDEAYA will contribute 20 of the global development costs. In return, IDEAYA will receive a 50 U.S. profit share and ex-U.S. royalties for the MAT2A and Werner Helicase programs.In premarket trading Tuesday, GlaxoSmithKline shares were rising 1.69 to 41.41 and IDEAYA was rallying 101.12 to 18.See also: The Week Ahead In Biotech: FDA Decisions In The Cards For Merck, Epizyme, Evoke And Ultragenyx Adverum Appoints Laurent Fischer As CEO Gene therapy company Adverum Biotechnologies Inc NASDAQ: ADVM announced the appointment of Laurent Fischer as the CEO and a member of the board. Leone Patterson, who most recently served as the companys CEO, will continue to serve as president.In after-hours trading, the stock gained 4.89 to 24.86.Addexs Out-Licensed Epilepsy Drug Moves Into Phase 2a Proof-Of-Concept Study ADDEX THERAPEUTADR NASDAQ: ADXN said JNJ-40411813, previously known as ADX71149, will advance into a Phase 2a proof-of-concept study in patients with epilepsy.The multi-center study is scheduled to begin dosing patients in the U.S. in early 2021. Johnson Johnson NYSE: JNJ unit Janssen is responsible for the clinical development and commercialization of JNJ-40411813 under the terms of a licensing agreement with Addex.Offerings Celldex said it has priced its secondary offering 13.38 million shares of its common stock at 9.75 per share to generate gross proceeds of 130.4 million. The offering is expected to close June 18.Constellation Pharmaceuticals Inc NASDAQ: CNST said it has commenced an underwritten public offering of 4 million shares of its common stock. All of the shares are being offered by the company.The stock was down 1.91 at 37 premarket Tuesday.Oncolytics Biotech, Inc. NASDAQ: ONCY said it has entered into an at-the-market equity offering sales agreement with Canaccord Genuity that will allow Oncolytics to issue common shares from treasury at prevailing market prices with an aggregate gross sales amount of up to 40 million over the course of the next 25 months.On The Radar PDUFA Dates The FDA is scheduled to give its verdict on Merck Co., Inc.s NYSE: MRK Keytruda as a monotherapy option for unresectable or metastatic solid tumors, with tissue tumor mutational burden-high.Clinical ReadoutsPresentations Sanofi SA NASDAQ: SNY is scheduled to host a virtual scientific session to present data from the Phase 3 COMET trial of investigational enzyme replacement therapy avalglucosidase alfa in patients with late-onset Pompe disease.Related Link: Sinovac Makes Headway In Coronavirus Vaccine Race With Positive Preliminary Phase 12 Results See more from Benzinga The Daily Biotech Pulse: FDA Nod For Viela, 3 IPOs And Hematology Congress Presentations The Daily Biotech Pulse: Sorrento Submits EUA Application For Rapid Coronavirus Test, Decision Day For Viela, Lantern Pharma IPOC 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 